Wise

Wise is a fintech product that serves the international payment and multi-currency account needs of more than 16 million users worldwide. Instead of the high transfer fees and inflated exchange rates that traditional banks have carried on for years, it offers a transparent model built around the mid-market rate.

When you want to send dollars from a bank, first there's the exchange rate markup, then the transfer fee, then the receiving bank's commission on top. The total cost often ends up somewhere between 3 and 7 percent. Wise removes that whole chain: a single low fee and the exact same rate you deposited at.

You can hold more than 50 currencies in the same account and switch from one to another within minutes whenever you need to. You could get paid your salary in USD, pay your rent in EUR, and convert the rest to TRY. Local account details for the UK, US ACH/wire routing, an EU SEPA account, an Australian BSB number, and more let you receive money as if you had opened an account in that country. The Wise card, available as both physical and virtual cards, lets you spend in 170+ countries; ATM withdrawals are fee-free up to a certain monthly limit and carry a minimal fee above it, and both Apple Pay and Google Pay are supported. The business account covers payroll, bulk payments, invoice collection, and accounting software integrations such as Xero and QuickBooks, with support for multi-user access and approval workflows.

Wise is used by freelancers and remote teams working abroad, e-commerce sellers, SMEs with multi-country operations, students studying overseas, and digital nomads. It is also actively used for sending Turkish lira from Turkey.

The fee model is transparent per transaction; card issuance and account opening are free in most countries. Fully featured apps are available on web, iOS, and Android.