Wise Test Wise Sending International Transfers 3 — Questions and Answers
Question 1: What is the typical delivery time for a Wise transfer to a major currency destination like the UK or EU?
- Same day or within a few hours (Correct answer)
- 3–5 business days
- 7–10 business days
- Up to 30 days
Correct answer: Same day or within a few hours
Many Wise transfers to major corridors like GBP and EUR arrive within hours or the same business day.
Question 2: When sending USD internationally via Wise, which account detail does the recipient typically need to provide?
- Only their email address
- Full name, bank account number, and routing number (Correct answer)
- IBAN and BIC only
- Passport number and tax ID
Correct answer: Full name, bank account number, and routing number
For USD transfers, Wise requires the recipient's full name, US-style bank account number, and routing number.
Question 3: Wise charges different fees depending on which payment method you use. Which method typically has the LOWEST fee?
- Credit card
- Wire transfer from your bank
- Bank transfer (ACH/Direct Debit) (Correct answer)
- PayPal
Correct answer: Bank transfer (ACH/Direct Debit)
ACH/Direct Debit bank transfers carry the lowest fees on Wise because processing costs are minimal.
Question 4: What is a 'transfer reference' on a Wise international send, and why is it important?
- A Wise internal tracking number used only by support agents
- A note or code sent alongside the transfer that helps the recipient's bank identify the payment (Correct answer)
- The currency conversion code
- The recipient's Wise account ID
Correct answer: A note or code sent alongside the transfer that helps the recipient's bank identify the payment
A transfer reference is a message or code that travels with the payment and helps the recipient's bank correctly credit the funds.
Question 5: If you enter the wrong recipient bank details and the transfer has already been sent, what should you do first?
- Wait 30 days and the funds auto-return
- Contact Wise support immediately to attempt a recall (Correct answer)
- Create a new Wise account and resend
- Contact your local tax authority
Correct answer: Contact Wise support immediately to attempt a recall
You should contact Wise support as quickly as possible — a recall may be possible before the funds are processed by the recipient's bank.
Question 6: Which of the following best describes how Wise moves money internationally without always using traditional correspondent banks?
- Wise uses satellite-linked blockchain nodes
- Wise holds local currency balances in destination countries and nets transfers internally (Correct answer)
- Wise only works through SWIFT for all transfers
- Wise converts all funds to gold before transferring
Correct answer: Wise holds local currency balances in destination countries and nets transfers internally
Wise operates a network of local bank accounts in many countries, matching incoming and outgoing flows to minimize cross-border wire costs.
Question 7: Can you cancel a Wise international transfer after it has been submitted?
- Yes, always — up to 30 days after sending
- Yes, but only if the funds have not yet been converted or sent out (Correct answer)
- No — all transfers are final once submitted
- Only if the recipient approves the cancellation
Correct answer: Yes, but only if the funds have not yet been converted or sent out
Cancellation is possible only before conversion and disbursement; once funds are processed, they generally cannot be recalled.
Wise Test Wise Sending International Transfers 3
What is the typical delivery time for a Wise transfer to a major currency destination like the UK or EU?