Due to popular demand, TransferWise just introduced a long-anticipated feature. Now you can send USD to non-US countries! If your suppliers or contractors have a USD-denominated bank account overseas, including in Asia, you can now pay them in USD with TransferWise – for less.
Send USD To Non-US Suppliers
For example, paying a $1,000 invoice from a supplier in China can cost as little as £5.34 with TransferWise. However, it could cost up to £54 with a traditional bank.
How much does it cost?
- Because they use SWIFT to send USD outside the US, you’ll pay their usual transfer fee plus an extra $2 (or equivalent)
- Some banks charge to receive international payments. This means your recipient may have to pay extra fees along the way
For now this only works on desktop devices, but they’re working hard to bring it to mobile soon.
Also check out their Borderless account if you need a free multicurrency account with local US, UK, AU and EU bank details.