RemitWisely Review

This RemitWisely review provides non-biased, factual information so you can make the decision that is right for you when you need to transfer your money internationally.

RemitWisely is a money transfer service in Australia. In 2016, they were recognised as an independent remittance dealer, and in 2017 they became a remittance network provider. The founders started the company with the intent of serving people from all walks of life and businesses of all sizes. They strive to save you money when you transfer your money overseas.

Pros
  • Wide range of payment methods
  • Fast transfer speeds
  • Convenient and user-friendly mobile app
  • Service- and customer-oriented; listen to suggestions, requests and will try to accommodate
Cons
  • Low maximum transfer amount of $8000
  • All transfers incur fees
  • Information on the website can be challenging to understand due to occasionally awkward working and style

How It Works

Transactions are completed online. First, you must create an account to be able to transfer any amount of money anywhere in the world. Once you have established your account and RemitWisely has verified your information, you may begin moving money.

 

You can choose your transfer method. A Bank Regular Transfer is the movement of funds from your bank account to your RemitWisely account, and a Bank Priority Transfer moves funds using the SWITCH network. Taking less than 24 hours, A Bank Priority Transfer is much faster than a regular transfer of up to three days.

 

When you’ve selected your method, and paid all of the required fees, RemitWisely will send your money where you want it to go.

How Safe Is It?

RemitWisely is regulated by AUSTRAC, an Australian Financial Intelligence Agency. They also use SSL encryption to keep your information safe and to allow secure online transactions.

 

Dedicated to maximum security, RemitWisely uses two-factor authentication (2FA) on your account for extra protection of your data. They encourage you to install Google Authenticator on your mobile phone as part of the secure authentication process.

 

Further, you can track the progress of your transfer to ensure that nothing is going wrong. If there is a problem, RemitWisely will work to fix it.

How Much Does It Cost?

This money exchange company boasts low transfer fees and high rates. They mention the caveat that fees are often assessed by receiving banks or by banks along the way of the transfer.

 

With RemitWisely, every transaction, no matter the size, carries a fee, from $2 to $20. Also, your exchange rate will affect the cost of the transfer.

 

What Exchange Rate Will I Get?

Your exchange rate will vary as per market fluctuations as well as the type of transfer you choose. You can choose to transfer your money using instant transfer or bank transfer.

 

When you use RemitWisely’s instant transfers, your exchange rate is guaranteed to be the market rate as of the moment you initiated your transaction. In this case, your rate is protected from market fluctuations.

 

With a bank transfer, your rate is established at the time your money is received. It can take up to three days for your funds to transfer from your bank account to your account wit RemitWisely, which means that the rate may have changed, quite possibly unfavourably, from the time you initiate the transfer to the time your money arrives with RemitWisely.

How Do I Send or Receive Money from Overseas?

Transactions are completed online. You supply the necessary information about the recipient, the currency you’ll be sending, and other details. Then, you pay for the transaction. Once your funds are in place and have cleared, RemitWisely will send your money to your overseas recipient.

 

Your recipient can choose his delivery method. He can pick up cash from a designated RemitWisely location, have the money transferred into to his bank account, or transmitted into a digital wallet.

How Do I Pay?

One of RemitWisely’s valuable offerings is the variety of payment methods accepted. You can pay via bank regular transfer in which you transfer money from your bank into your account with RemitWisely. This takes up to three days and is the slowest payment method available.

 

You can also transfer bank funds using bank priority transfer. The priority transfer method uses the speedy SWITCH network, and the transfer from your bank account to your RemitWisely account takes less than 24 hours.

 

RemitWisely is highly flexible in the way they accept payment. In addition to the two bank transfer methods described above, you can choose to pay with a credit card (Visa or Master Card), PayPal, Apple Pay, and Android Pay.

 

Can I Pay by Credit Card?

Yes. RemitWisely accepts both Visa and Master Card for payment.

What Currencies Can I Transfer?

RemitWisely can transfer more than 30 different currencies to over 200 countries. They are fully global, with transfer locations throughout Asia, Europe, Oceania, Africa, the Middle East, and the Americas. Among the most common currencies RemitWisely handles are the

  • AUD Australian Dollar
  • GBP British Pound
  • BHD Bahraini Dinar
  • BGN Bulgarian Lev
  • CAD Canadian Dollar
  • HRK Croatian Kuna
  • CZK Czech Koruna
  • CNY Chinese Yuan
  • DKK Danish Krone
  • AED UAE Dirham
  • EUR Euro
  • HKD Hong Kong Dollar
  • HUF Hungarian Forint
  • ILS Israeli Shekel
  • JMD Jamaican Dollar
  • JPY Japanese Yen
  • KES Kenyan Shillings
  • KWD Kuwaiti Dinar
  • MXN Mexican Peso
  • NZD New Zealand Dollar
  • NOK Norwegian Krone
  • OMR Omani Rial
  • PLN Polish Zloty
  • QAR Qatari Rial
  • RON Romanian New Leu
  • SAR Saudi Riyal
  • SGD Singapore Dollar
  • ZAR South African Rand
  • SEK Swedish Krona
  • CHF Swiss Franc
  • THB Thai Baht
  • TRY Turkish Lira
  • USD United States Dollar

What Services Do They Offer for Businesses?

RemitWisely will work directly with businesses to craft custom foreign exchange solutions. Their goal is to help you save more money with RemitWisely than with banks. They work closely with businesses of all sizes and types.

 

Custom solutions and guaranteed excellent exchange rates are available for multiple business services, including international payments, international receivables, currency conversion, mass payments, money movement, and payroll operations.

 

In addition to helping businesses meet their needs and save money, RemitWisely offers partner opportunities. Companies can partner with RemitWisely in three different ways for growth and development.

 

RemitWisely is a new, forward-thinking company that gives the needs and desires of its client’s top priority. They genuinely want to save you money. We created our international transfer guides to save you money, too. Check them out and equip yourself with the right information to become savvy at foreign money transfers.

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