Wise Sign-Up & Activation Tutorial Guide

Introduction

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Wise (formerly known as TransferWise) is a UK-based fintech company focused on providing low-cost, transparent international money transfers and currency exchange services. It offers low-cost financial services for small-scale cross-border business payments and fund transfers. Ordinary people can enjoy the convenience of international money flow brought by internet technology. Wise can be considered a leader in international finance, helping users save money effectively.

Table of Contents

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What is Wise?
What advantages does Wise have compared to ordinary international transfer accounts?
Which currencies does Wise support / which countries can you remit to?
Step-by-step tutorial for applying for a Wise account
Wise zero-loss deposit to activate the account
Wise linking and connecting to other bank accounts
Wise applying for a physical card
Wise practical use cases
Application notes
Summary

What is Wise?

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Wise (formerly TransferWise) is a UK-based fintech company specializing in low-cost, transparent international money transfers and currency exchange. It is an electronic money institution authorized by the London Financial Authority and a publicly listed company on the London Stock Exchange, providing international transfer services to most countries globally and cooperating with banks in multiple regions.

Key features include:

1. International Transfers: Wise uses real-time market exchange rates without markups, making it cheaper than traditional banks and most remittance services. You can send money to over 80 countries.
2. Multi-currency Account: Wise provides an account to manage over 40 currencies, allowing you to receive, send, and exchange currencies within the account.
3. Debit Card: Wise’s debit card connects to your account balance and can be used globally at VISA or Mastercard merchants and ATMs, with very low currency conversion fees.

For example, if you regularly send money to family in the UK, using Wise allows you to do so with lower fees and better rates. You can also hold multiple currencies in your account such as GBP, USD, HKD, and SGD, and convert or spend them when needed.

Advantages Compared to Ordinary International Transfer Accounts

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Wise stands out for several reasons:

1. Low Cost: Uses real-time rates without markups, transparent and low fees.
2. Fast: Most transfers complete within hours, sometimes instantly, much faster than traditional bank transfers.
3. Multi-currency Account: One account can manage 40+ currencies, receive and send payments, and perform exchanges conveniently.
4. Transparency: Clear fees and rates upfront, no hidden costs.
5. Global Coverage: Supports remittances to 80+ countries.
6. User Experience: Clean interface, multi-language support, good usability.
7. Compliance for Chinese Users: Wise works with UnionPay’s official channels.

[!info] Cross-border Remittance _ UnionPay International
Global Express (MoneyExpress) is UnionPay’s convenient cross-border remittance service available in 45 countries and regions including the U.S., Japan, Singapore, Australia, the UK, Russia, UAE, and Kyrgyzstan.
https://m.unionpayintl.com/cn/servicesProducts/servicesBenefits/crossBorderRemittance/

Wise also allows mainland Chinese residents and businesses to receive RMB transfers.

[!info] RMB Remittance Guide | Wise Help Center
Answers common questions about CNY transfers. Supports personal and business clients. Four types of transfers are available: C2C (Alipay, WeChat), B2C (UnionPay), B2B (local).
https://wise.com/zh-cn/help/articles/2955298/

Data not real-time; refer to official websites for the latest rates.

Real-time rate tool:

[!info] Wise Fees for Sending Money
Send money globally at the real exchange rate with low conversion fees.
https://wise.com/gb/pricing/send-money?sourceAmount=1000&sourceCcy=GBP&targetCcy=EUR

Supported Currencies and Countries

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Supported currencies: AUD, BGN, BRL, CAD, CNY, CHF, CZK, DKK, EUR, GBP, HUF, IDR, JPY, MYR, NOK, NZD, PHP, PLN, RON, SEK, SGD, TRY, USD.

Wise Account Application Step-by-Step

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Invitation Link

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https://wise.com/invite/ihpc/hanw223

1. Enter Email

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2. Choose Account Type

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3. Verify Mobile

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4. Fill Personal Information

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Personal information is crucial for physical card eligibility.
For U.S. Wise accounts, a U.S. address is required.

[!info] U.S. Residential Address Rental | Hong Kong Henry
Rent a U.S. address to receive mail, apply for credit cards, and handle IRS documents.
https://hkhenry.com/offshore-accounts/amercan-rental-residential-address-anytimemailbox

5. Choose Currencies to Activate

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Currency functionality varies; some only show currency info without full account access.

Zero-Loss Deposit to Activate Account

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Domestic GBP Wire

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Overseas Bank/Hong Kong Account/OCBC

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Broker Account Deposit (IBKR, Charles Schwab, etc.)

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[!info] Wise Deposit to IBKR 2024 Update / U.S. ACH / Easy Zero-Loss Deposit
Registration link: https://ibkr.
https://www.youtube.com/watch?v=qHrKAQ8pWl4&t=64s

Apple Pay Deposit Activation

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Linking and Connecting Other Bank Accounts

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U.S. Banks: HSBC, Capital One, American Express

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Applying for Physical Card

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Southeast Asia / U.S. / UK Regions

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U.S. accounts are recommended for ease of application.
Physical card requires a U.S. address rental (AnyTimeMailBox recommended).

Upload proof of address:

Card cost: $9

Physical card can be used for U.S. secured credit card applications. Only U.S. version supports USD accounts.

Partner bank: JPMorgan Chase. Highly recommended.

Practical Use Cases

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• U.S. ACH transfers, fast and zero-loss
• U.S. credit card repayment
• Broker account inflows/outflows
• Apple Pay in Hong Kong, seamless usage
• PayPal integration
• Saving on currency exchange
• Managing multiple currencies
• High-yield balances (USD/GBP, requires U.S. tax ID)

Application Notes

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Wise has become stricter due to social media popularity. Avoid risky operations; personal/domestic use is safe.

Summary

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Wise remains a low-cost, convenient, and efficient international money transfer tool. This guide covers features, advantages, registration, and practical tips for new users.