Wise (Formerly TransferWise) Account Opening Guide

Wise (formerly TransferWise) Account Opening Guide

What You Need to Open a Wise Account

• Full name — must match your passport exactly
• Date of birth
• Phone number
• Residential address

Step-by-Step Registration

Step 1: Enter Your Email

Go to wise.com and click “Register”. You can sign up with email, Google, Facebook, or Apple ID.

Step 2: Choose Account Type

Select Personal or Business account, then enter your country of residence. This affects which Wise services are available to you.

Step 3: Enter Your Country of Residence

Your country of residence determines available services and the shipping address for your Wise debit card (if applicable).

Step 4: Verify Your Phone Number

Enter your phone number and complete SMS verification. Note: Every time you log in from a new device, you’ll need SMS verification — this keeps your account secure.

Step 5: Set Your Password

Create a password with at least 9 characters, including letters and numbers. Your account is now created!

Step 6: Verify Email & Complete Identity Verification

Check your inbox for the verification email and click the link. Before making your first transfer, you’ll need to complete identity verification:

• Take a photo of your passport’s personal information page
• Take a selfie
• Wait for verification (typically 2-3 business days)

Wise Fees

Wise uses the real mid-market exchange rate with no hidden markups. You pay a single, transparent fee calculated as a small fixed amount + a percentage (usually under 1%, slightly higher for exotic currencies). No surprise charges later.

How Fast Are Wise Transfers?

Unlike traditional SWIFT wire transfers, Wise uses its own local bank account network. About 50% of transfers are instant, and most arrive within 24 hours. Wise also supports transfers directly to Chinese Alipay and WeChat accounts — much faster than traditional banks (2-4 business days to bank accounts only).

Sending RMB to China

You can fund transfers to Chinese RMB accounts using 20+ currencies including EUR, USD, AUD, CAD, plus currencies from Turkey, Brazil, Indonesia, and more. Wise is essentially available globally.

Pro Tip

Think of Wise as the international version of Alipay. Wise accounts are in high demand and have real market value. If you qualify, don’t hesitate to open one.