By thestyleoftheday 
Key Takeaways
- Wise offers fast money transfers using debit and credit cards, often completing within minutes to a few hours, depending on currency and recipient bank.
- Transfer times depend on factors like card type, currency, and recipient bank policies, with major currencies typically processing faster.
- Debit cards generally process transfers quicker than credit cards, making them an ideal choice for urgent transactions.
- Verification and compliance checks may delay transfers, so completing account verification in advance can help.
- To ensure smooth transactions, use cards compatible with international payments and double-check recipient details.
- Weekend or holiday transfers may face delays, so initiating transactions during business hours can speed things up.
Sending money internationally has never been easier, thanks to services like TransferWise, now known as Wise. If you’re like me, you want your transfers to be fast, reliable, and hassle-free, especially when using a debit or credit card. But how long does it actually take for your money to reach its destination?
Timing can depend on a few factors, like the currency you’re sending or the recipient’s bank. Still, using a card for transfers often speeds things up compared to traditional bank methods. Let’s dive into what you can expect when transferring money with Wise and how quickly your funds will arrive.
What Is TransferWise (Now Wise)?
TransferWise, rebranded as Wise in 2021, facilitates international money transfers for individuals and businesses. Its platform prioritizes transparency, enabling users to send funds abroad at real exchange rates without hidden fees.
Wise supports over 50 currencies, including USD, EUR, and GBP. It processes various payment methods like bank transfers, debit cards, and credit cards. Users can also access multi-currency accounts to hold, send, and receive money globally.
Quick transfer times are a key feature. Payments using cards are typically faster than bank transfers, often completing within minutes to a few hours, depending on the destination. This makes Wise a popular choice for time-sensitive transactions.
How Does TransferWise Work With Card Transfers?
TransferWise, now Wise, simplifies card transfers for international payments. Using a debit or credit card can reduce transfer times, making it one of the fastest methods available.
Steps To Send Money Using A Card
- Set up an account: Create a Wise account through the website or app with your personal details.
- Enter transfer details: Input the amount, currency, and recipient’s bank information.
- Choose payment method: Select “Card” and provide card details like number, expiration date, and CVV.
- Confirm and send: Review fees, the exchange rate, and delivery time before authorizing the payment.
Funds often arrive within minutes for card-based transfers but may vary by currency or recipient bank policies.
Types Of Cards Accepted
Wise accepts most debit and credit cards from major providers globally. Supported cards include Visa, Mastercard, and some Maestro variants. Prepaid cards might not work, and American Express isn’t supported in many regions for this service. For reliability, ensure your card is activated for international transactions.
How Long TransferWise Takes To Send Money Using A Card
Using a card through Wise is one of the fastest ways to transfer money internationally. Timing largely depends on the currency, destination, and recipient’s bank processing times.
Factors Affecting Speed Of Transfers
Several variables influence how quickly Wise processes transfers made using a card:
- Card type: Debit cards process faster than credit cards, as they’re directly linked to bank accounts. Prepaid cards and certain regional cards may not be supported.
- Currency exchange: Transferring money in major currencies (e.g., USD, EUR) completes faster than lesser-used currencies, where processing may take longer.
- Recipient bank: Instant payments are achievable if the recipient’s bank supports real-time transfers, but delays may occur with slower banking systems.
- Verification process: If Wise requests additional verification for compliance, processing might take slightly more time.
Average Transfer Times For Different Countries
Delivery times vary across destinations but are generally faster with card payments compared to bank transfers.
| Country/Region | Estimated Transfer Time |
|---|---|
| United States to Canada | Within minutes to 2 hours |
| United Kingdom to Europe | Minutes to 1 hour |
| Australia to Southeast Asia | 1-4 hours |
| Europe to India | 2-6 hours |
| Global (Major currencies) | Usually under 1 hour |
I find that certain countries where local banking networks have slower systems or stricter regulations may experience delays of up to 24 hours. Transfers using debit cards typically remain the fastest option in most cases.
Pros And Cons Of Sending Money Using A Card With TransferWise
Pros
- Speed: Card payments process quickly, often completing within minutes to a few hours. This makes them ideal for urgent transactions.
- Convenience: Using cards simplifies the payment process. I only need my card details to complete a transaction, eliminating the need for bank account information.
- Availability: Debit and credit cards from major providers like Visa and Mastercard are widely supported in many countries.
- Transparent Fees: Wise shows all charges upfront, avoiding hidden costs typically associated with international card payments.
- Real-Time Rates: Money transferred using a card benefits from real exchange rates at the time of transaction confirmation.
- Card Fees: Payments via card can incur higher fees compared to bank transfers, with additional charges applying to credit cards.
- Prepaid Card Limitations: Prepaid cards are generally not supported, reducing availability for users relying on them for transfers.
- Security Checks: Transactions may require additional verification, which could delay the process in some cases.
- Restrictions on Cards: American Express isn’t supported in many regions, limiting options for users of this provider.
- Currency and Bank Policies: Transfer times can vary due to recipient bank processing and regulations, especially in countries with slower systems.
Tips To Speed Up Your TransferWise Transaction
- Verify your account upfront
Completing account verification before initiating a transaction reduces delays. Wise may require identity or address proof, especially for larger transfers.
- Use a debit card
Card payments process faster than bank transfers, and debit cards often expedite the transaction further compared to credit cards.
- Double-check recipient details
Accurate input of recipient’s name, account number, and bank details prevents failed transactions and the need for corrections.
- Choose popular currencies
Transfers in widely-used currencies, like USD, EUR, or GBP, typically complete faster than less common ones due to efficient banking networks.
- Transfer during business hours
Sending money within standard business hours in the recipient’s time zone helps avoid delays caused by bank processing times.
- Avoid weekends and holidays
Transactions processed on non-working days may face delays as recipient banks usually operate only on business days.
- Ensure card compatibility
Cards must support international transactions to complete transfers quickly. Contact your bank to confirm if restrictions exist.
- Monitor verification requests
Responding promptly to Wise’s verification requests avoids holding your transfer. These requests may include identity checks or additional documentation.
- Fund in local currency
Using the local currency for card payments avoids extra processing steps associated with international conversion.
- Upgrade transfer speed
Opt for a faster transfer option during setup if Wise offers premium processing for your currency or destination.
Conclusion
Using a card with Wise is one of the fastest and most efficient ways to send money internationally. It combines speed, transparency, and convenience, making it a reliable choice for urgent transfers. While factors like currency, recipient bank, and card type can influence timing, card payments often stand out for their quick processing.
To get the best experience, it’s essential to ensure your card is ready for international transactions and follow best practices to avoid delays. With its commitment to real exchange rates and upfront fees, Wise continues to be a top choice for seamless global money transfers.
Frequently Asked Questions
What is Wise, and how does it help with international money transfers?
Wise (formerly TransferWise) is a platform for fast, transparent, and reliable international money transfers. It offers real exchange rates without hidden fees, supports over 50 currencies, and allows payment through methods like debit or credit cards and bank transfers.
How long does a money transfer take with Wise when using a card?
Card-based transfers through Wise usually complete within minutes to a few hours, depending on the currency, recipient bank, and any necessary verifications.
Is using a card on Wise faster than a bank transfer?
Yes, paying with a debit or credit card is faster than a traditional bank transfer. Many transfers are completed within minutes, while bank transfers may take longer.
Can I use any type of card with Wise for payments?
Wise supports most Visa and Mastercard debit and credit cards. However, prepaid cards may not work, and American Express is not widely supported in many regions.
Why are there delays with some transfers through Wise?
Delays may occur due to recipient bank processing times, verification requirements, or transfers involving less common currencies. Timing can also be affected if transactions occur on holidays or weekends.
What currencies does Wise support?
Wise supports over 50 currencies, making it easy to transfer money worldwide while offering real-time exchange rates for transparency.
Are there extra fees for using a card with Wise?
Card payments on Wise may have higher fees compared to bank transfers, depending on the card type and currency. These fees are always transparently displayed before confirming the transfer.
How can I speed up my Wise money transfers?
To ensure faster transfers, verify your account in advance, use a debit card, double-check recipient details, initiate transfers during business hours, and choose popular currencies when possible.
What are the pros of using Wise with a card for money transfers?
Wise offers speed, convenience, transparent fees, real exchange rates, and wide card compatibility. Card payments are especially useful for urgent international transactions.
Why might a debit card be better than a credit card for Wise transfers?
Debit cards typically have lower fees and process faster than credit cards when used for international transfers on Wise.
Does Wise work on holidays or weekends?
Transfers initiated on holidays or weekends may experience delays as many banks don’t process payments during these times. For faster results, send money during business hours.
How can I ensure my card works for international transfers with Wise?
Ensure your card is activated for international use, isn’t a prepaid card, and has sufficient funds. Contact your bank if needed for approval or activation.
What makes Wise different from traditional banks for international transfers?
Wise uses real exchange rates with no hidden fees, processes transfers more quickly (especially with cards), and offers better cost transparency compared to traditional banks.