What is Wise (formerly TransferWise)?
Wise is an international transfer platform that offers the real exchange rate (mid-market rate) with no hidden markups. For freelancers in LATAM, it's one of the most transparent and affordable options for receiving and sending money internationally.
Key fact: Wise moves over $12 billion per month in international transfers and operates in 80+ countries.
Benefits for Freelancers
- Real exchange rate: No hidden margins. You see exactly what you'll receive.
- Multi-currency account: Hold balances in USD, EUR, GBP, and 50+ currencies.
- Local bank details: Receive payments as if you had a US, UK, or European account.
- Debit card: Spend in any currency with automatic conversion.
- Total transparency: All fees shown upfront before you confirm.
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Wise Fees 2026
- Receive in USD: Free with Wise bank details
- Currency conversion: 0.35% - 1.5% depending on the route
- Send to local bank: From $1.50 USD per transfer
- Debit card: First 2 conversions/month free, then 0.35%
- Hold balance: Free, no monthly fees
How to Use Wise as a Freelancer
- Create your account at wise.com with your email and ID.
- Activate your multi-currency account (free).
- Get your USD bank details (account number and routing number).
- Share these details with your clients to receive payments.
- Convert to your local currency whenever you choose.
- Transfer to your local bank or use the debit card.