Wise (formerly TransferWise) is a popular platform for international money transfers, offering low fees and real exchange rates. If you’re expecting a payment, whether from a client, employer, or family member, knowing the best way to receive money on Wise can help you get your funds quickly and efficiently. In this guide, we’ll explain how to receive international payments on Wise, the available methods, fees, and transfer times.
Ways to Receive Money on Wise
There are several ways to receive money using Wise, depending on the sender’s method and your preferences.
1. Receiving Money via Wise Account
If the sender is also a Wise user, they can transfer money directly to your Wise account. This is one of the fastest and cheapest methods, as Wise processes internal transfers efficiently.
2. Receiving Money via Bank Transfer
You can receive money from someone’s bank account by providing them with your Wise account details. Wise offers local bank details for multiple currencies, allowing you to receive funds just like a local bank transfer.
3. Using a Wise Multi-Currency Account
A Wise multi-currency account lets you hold, receive, and convert money in different currencies. This is ideal for freelancers, remote workers, and businesses that get paid in multiple currencies and want to avoid unnecessary conversion fees.
Step-by-Step Guide to Receiving Money on Wise
Follow these steps to receive money securely and efficiently on Wise.
Step 1: Log in to Your Wise Account
Go to the Wise website or open the Wise mobile app and log in to your account. If you don’t have an account yet, sign up for free.
Step 2: Get Your Wise Account Details
For bank transfers, go to the “Account Details” section in your Wise dashboard and select the currency in which you want to receive money. Wise provides local bank details for major currencies like USD, EUR, GBP, AUD, and more.
Step 3: Share Your Wise Account Details with the Sender
Give the sender your Wise local account details, including the account number, routing number, or IBAN, depending on the currency.
Step 4: Receive the Funds and Check Transaction Status
Once the sender completes the payment, you will receive a notification. You can track the transaction status in your Wise account.
Step 5: Withdraw Money to Your Bank (If Needed)
If you want to move the received funds to your personal bank account, you can withdraw money easily. Wise allows you to send money from your Wise balance to your bank at any time.
Fees & Exchange Rates for Receiving Money on Wise
Wise is known for its transparent fees, meaning there are no hidden charges when receiving money. Here’s what to expect:
- Receiving money in local currency: Free in most cases
- Currency conversion fees: If the money received is in a different currency, Wise applies a small conversion fee
- Withdrawal to a bank account: Some withdrawals may have a minor fee, depending on the currency and destination
To get the best Wise account money transfer rates, consider keeping funds in your Wise multi-currency account until you need them.
How Long Does It Take to Receive Money on Wise?
The time it takes to receive international payments on Wise depends on several factors:
- Payment method used by the sender – Wise-to-Wise transfers are instant, while bank transfers can take 1–3 business days.
- Currency and country of origin – Some currencies process faster than others.
- Bank processing times – Weekends and holidays may cause delays.
On average, most Wise money transfers arrive within a few hours to a day, but international bank transfers may take longer.
Common Issues & Troubleshooting
If you encounter delays while receiving money on Wise, consider these steps:
- Check the transaction status – Log in to your Wise account and see if the payment is still processing.
- Confirm with the sender – Ensure they used the correct Wise account details and completed the payment.
- Check for bank delays – If you withdrew money to a bank account, your bank may take extra time to process the deposit.
- Contact Wise support – If your money hasn’t arrived within the expected timeframe, reach out to Wise’s customer service.
Final Tips for Receiving Money on Wise
- Always double-check your Wise account details before sharing them with a sender.
- Use your Wise multi-currency account to hold funds in different currencies and avoid unnecessary conversions.
- Enable notifications in your Wise app to stay updated on incoming payments.
- For faster transfers, ask the sender to use Wise instead of a traditional bank transfer.
Receiving money on Wise is a simple and cost-effective process, especially for international transactions. With its low fees, real exchange rates, and fast transfers, Wise is one of the best platforms for receiving payments securely. Whether you’re a freelancer, business owner, or just receiving funds from family abroad, Wise offers a seamless way to manage your money globally.
