Have you ever needed to send money to someone in another country? It can be a real hassle, right? Well, that’s where Wise PLC comes in! They are a company that makes global money transfers super simple. With this article, we are hoping to inform you regarding a step-by-step guide on setting up a new Wise account.
Who is Wise
Wise PLC, which used to be called TransferWise, is a financial technology company based in London. It was started by Kristo Käärmann and Taavet Hinrikus back in January 2011. These guys saw a problem with sending money internationally and decided to do something about it! Right now, Wise is considered to stand beside the pioneers PayPal and Payoneer which were the primary go to money transfer service as of earlier years.
Time needed: 10 minutes
How to Set Up a Wise Account
- Visit the Wise Website
To start setting up your Wise account, go to the Wise website (wise.com) using your web browser.
- Sign Up
Click on the Sign up or Register button on the homepage to begin creating your account.
- Choose Account Type
Select the type of account you want to create, such as Personal or Business. For most people, the Personal account option is the way to go.
- Enter Your Details
Fill in your full name, email address, and a strong password. Make sure to use a valid email address because you’ll need to verify it later.
- Verify Your Email
After signing up, Wise will send a verification email to the address you provided. Check your email inbox and click on the verification link to confirm your email.
- Provide Personal Information
You’ll need to give more personal information like your address, date of birth, and phone number for security and compliance reasons.
- Verify Your Identity
Wise might ask you to verify your identity by uploading a photo or scanned copy of a government-issued ID, like a passport or driver’s license.
- Add Bank Account Details
Next, add your bank account details to your Wise account so you can transfer money to and from your bank account using Wise’s services.
- Set Up Currency Preferences
Choose your currency preferences based on your needs. Wise supports multiple currencies, so you can hold and transfer funds in different currencies with good exchange rates.
- Complete Setup
Once you’ve given all the necessary information and verified your identity, your Wise account setup is finished. Now you can start using Wise for international money transfers and currency exchange.
Download the Wise App (Optional)
If you prefer managing your Wise account on your phone, you can download the Wise mobile app from the App Store (for iOS) or Google Play Store (for Android). That’s it! You’ve successfully set up your Wise account and can now use its features for easy and affordable money transfers and currency exchange.
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