Wise (formerly TransferWise) has established itself as a significant player in the international money transfer space, offering an alternative to traditional banking services. The app enables users to send, receive, and manage money across currencies with what the company describes as mid-market exchange rates. This positions it as a practical solution for frequent international transactions where bank fees and poor exchange rates typically erode value. The core functionality revolves around multi-currency accounts that support over 50 currencies. Users can hold balances in multiple currencies simultaneously, convert between them at current rates, and receive local banking details for major currencies like USD, EUR, and GBP. The app provides debit card functionality for spending abroad without foreign transaction fees. Business accounts offer batch payment features and integration options for e-commerce platforms, making it suitable for freelancers and small businesses with international clients. In practical use, the interface presents a clean dashboard showing all currency balances at a glance. Setting up transfers typically takes under five minutes, with clear timelines showing when funds will arrive. The app sends push notifications at each transfer stage—when money is sent, converted, and received. For frequent travelers, the Wise card works seamlessly with Apple Pay and Google Pay, and automatically selects the appropriate currency balance when making purchases abroad to avoid conversion fees. User feedback consistently highlights the transparency of fee structures as a major advantage. Reviews indicate satisfaction with being able to see exactly how much will be received before confirming transactions, unlike traditional banks that often hide costs in inflated exchange rates. Some users report occasional verification delays during account setup, particularly for business accounts requiring additional documentation. The customer support receives mixed reviews—generally responsive for straightforward issues but sometimes slower for complex account matters. The app delivers on its core promise of cost-effective international transfers, though it may not fully replace traditional banking for all users. While excellent for cross-border transactions, domestic banking features like check deposits or loan services remain outside its scope. The verification process, while necessary for security, can feel cumbersome to some users. Overall, Wise provides a specialized financial tool that excels in its niche while acknowledging its limitations for comprehensive banking needs.