Wise: The Banking System You Need to Work With Clients Worldwide (And Earn 3.71% APY on Your USD Balance)
Wise for Small Creators
If you run a small business like me that focuses on content creation and consulting gigs, you’ve probably doubted with a lot of clients.
Between YouTube brand sponsorship, consulting engagements focused on content creation, digital marketing, and virtual event strategies, I’ve worked with people from more than half a dozen countries.
I absolutely love the variety, and cultural background and have been able to learn so much more, but when it comes to accounting, it can get unnecessarily complicated!
This is where Wise comes into play.
I’ve been using Wise since 2016, when it was still called TransferWise. My video editor found it helpful to manage transfers with me and the fee was (and remains to be) very low.
In comparison to PayPal (yikes), Wise only charges $4.14 for wire transfer fees for USD. Most of my transactions are in the thousands, and I have not seen any fees above $10 USD under any circumstances.
The transfer speed is also quite fast for wire transfers. Receiving transfers takes about a day, and transferring to my banks in the US takes another business day.
The Wise web experience and mobile apps are friendly. I’ve not had issues navigating the options for transferring or receiving money.
A few things I love about Wise are:
- Low transaction fees
- Free account opening
- Personal and business banking in one
- Works in and outside of the United States (for me)
Opening up an account in Wise is free of charge. Take a look and see if it’s right for your business.
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