Wise Sending International Transfers Questions and Answers

Question 1

A user is sending a large international transfer and is concerned about potential delays.
Which of the following is the MOST effective step they can take beforehand to minimize the risk of delays related to their account?

Accepted Answer

Completing their identity and address verification with Wise in advance.

Answer

Contacting their bank to pre-authorize the transaction.

Answer

Sending several smaller transfers instead of one large one.

Answer

Choosing to fund the transfer with a credit card for faster payment.

Question 2

When sending money internationally with Wise, what is the 'guaranteed rate' feature?

Accepted Answer

An exchange rate that is locked in for a specific period, provided Wise receives the funds in time.

Answer

A feature that ensures the recipient receives the money within a guaranteed timeframe.

Answer

A promotional exchange rate offered to first-time users.

Answer

The best possible exchange rate of the day, applied automatically at the time of conversion.

Question 3

A customer is funding their international transfer from their USD bank account. Which payment method is generally the SLOWEST for getting the money to Wise?

Accepted Answer

ACH Bank Debit

Answer

Debit or credit card

Answer

Wire transfer

Answer

Paying from their Wise Account balance

Question 4

Which of the following pieces of information about the recipient is NOT always required when setting up a standard international bank transfer to a US dollar account?

Accepted Answer

The purpose of the transfer

Answer

Recipient's full name and address

Answer

Recipient's bank account number and routing number

Answer

Recipient's bank name and account type

Question 5

A user sets up a transfer of 1,000 EUR to a friend in the UK. They choose to fund the transfer via a bank transfer but forget to include the unique reference number provided by Wise. What is the most likely outcome?

Accepted Answer

The transfer will be significantly delayed or rejected because Wise cannot match the payment to the user's account.

Answer

The transfer will be processed as normal but may take an extra day.

Answer

The transfer will be cancelled and the money automatically refunded.

Answer

Wise will contact the user's bank to obtain the reference number.

Question 6

What exchange rate does Wise use as the basis for its international transfers?

Accepted Answer

The mid-market exchange rate.

Answer

A fixed daily rate set by Wise each morning.

Answer

The wholesale rate available only to large financial institutions.

Answer

An average rate calculated from various retail currency providers.

A user is sending a large international transfer and is concerned about potential delays.Which of the following is the MOST effective step they can take beforehand to minimize the risk of delays related to their account?

A user is sending a large international transfer and is concerned about potential delays.
Which of the following is the MOST effective step they can take beforehand to minimize the risk of delays related to their account?