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Isn't FX a done deal based on how TransferWise is able to do it. Maybe you guys can collaborate with them and make payouts in any currency possible atleast in c

Isn't FX a done deal based on how TransferWise is able to do it. Maybe you guys can collaborate with them and make payouts in any currency possible atleast in countries where there are no Forex restrictions like Hong Kong.

joering2 7y ago
Please no. TransferWise is terrible at customer support and internet is full of horror stories of people founds being frozen. The are the new incarnation of good ole’ paypal. You will get your account frozen the moment you wire more than$1,500 as per my own experience with 3 different businesses giving them a chance. I hope Stripe which is amazing will never have anything to do with TransferFraud.
- byefruit 7y ago
  Not affiliated with TransferWise in any way but just want to say that this is totally the opposite of my experience and that of pretty much everyone I know who uses TransferWise. We've moved hundreds of thousands of dollars through them over the last couple of years with no problems on their end (we've had problems with banks failing to transfer correctly though..)
  - joering2 7y ago
    Glad to know your experience.
  - candu 7y ago
    Also not affiliated with them, and have been very satisfied so far. OTOH, I'm in Canada, and I've only used them for personal transfers. I have no idea how they perform for businesses, nor do I know whether they work well for individuals in other countries.
  - kernelbugs 6y ago
    I've had the same (mostly) great experience with them. My only issues with TransferWise have been having to ask recipients for their full addresses and then manually having to translate address schemes into something that fits in the boxes TransferWise provides in their forms. Sometimes things don't map over 1-to-1 (some Japanese and Taiwanese addresses, for example). I've also found that some Japanese banks only have one branch without a name and Transferwise requires a branch name. I eventually figured things out by researching the branch number online though. All minor gripes though. Transferwise has let my business operate smoothly and make connections to vendors that would otherwise be cost-prohibitive to pay.
    - timcameron 6y ago
      Hey kernelbugs, I work at TransferWise and would love to learn a little more about the issues you face with our address forms (it could be due to the fact that payment system limitations often lead to field limitation on our side). Hopefully I can help you figure out a way to make your life using our product easier as well. Could you please send me an email to tim@transferwise.com?
- georgespencer 7y ago
  Not affiliated and no issues. These are sweeping generalisations and wholly unhelpful.
sealthedeal 7y ago
TW is not an ideal solution. I am biased, but IMHO using a service like Routefusion solves all of these problems. Companies like Elliot use our API's to settle CC transactions that are in different countries. You hook your Stripe account in and then they re-patriate the money to wherever it needs to go. Check us out! developer.routefusion.co
- sealthedeal 6y ago
  -4 points. Maybe this reads as too self-promoting. Apologies to the HN'ers reading this :)
dx034 7y ago
I love transferwise and use their service for several currencies but it shows how hard it is to get right. E.g. EU customers in the US get a bank account on the name of Transferwise with you as the beneficiary. Even larger invoicing systems in the US can struggle with this as the person is not a US resident, has sole access to the funds and yet the account holder is a US entity. Customer Service, UX and speed are amazing. But it took me a while to convince US companies to accept this structure.

joering2 7y ago

Please no. TransferWise is terrible at customer support and internet is full of horror stories of people founds being frozen. The are the new incarnation of good ole’ paypal. You will get your account frozen the moment you wire more than$1,500 as per my own experience with 3 different businesses giving them a chance. I hope Stripe which is amazing will never have anything to do with TransferFraud.

byefruit 7y ago
Not affiliated with TransferWise in any way but just want to say that this is totally the opposite of my experience and that of pretty much everyone I know who uses TransferWise. We've moved hundreds of thousands of dollars through them over the last couple of years with no problems on their end (we've had problems with banks failing to transfer correctly though..)
- joering2 7y ago
  Glad to know your experience.
- candu 7y ago
  Also not affiliated with them, and have been very satisfied so far. OTOH, I'm in Canada, and I've only used them for personal transfers. I have no idea how they perform for businesses, nor do I know whether they work well for individuals in other countries.
- kernelbugs 6y ago
  I've had the same (mostly) great experience with them. My only issues with TransferWise have been having to ask recipients for their full addresses and then manually having to translate address schemes into something that fits in the boxes TransferWise provides in their forms. Sometimes things don't map over 1-to-1 (some Japanese and Taiwanese addresses, for example). I've also found that some Japanese banks only have one branch without a name and Transferwise requires a branch name. I eventually figured things out by researching the branch number online though. All minor gripes though. Transferwise has let my business operate smoothly and make connections to vendors that would otherwise be cost-prohibitive to pay.
  - timcameron 6y ago
    Hey kernelbugs, I work at TransferWise and would love to learn a little more about the issues you face with our address forms (it could be due to the fact that payment system limitations often lead to field limitation on our side). Hopefully I can help you figure out a way to make your life using our product easier as well. Could you please send me an email to tim@transferwise.com?
georgespencer 7y ago
Not affiliated and no issues. These are sweeping generalisations and wholly unhelpful.

sealthedeal 7y ago

TW is not an ideal solution. I am biased, but IMHO using a service like Routefusion solves all of these problems. Companies like Elliot use our API's to settle CC transactions that are in different countries. You hook your Stripe account in and then they re-patriate the money to wherever it needs to go. Check us out! developer.routefusion.co

sealthedeal 6y ago
-4 points. Maybe this reads as too self-promoting. Apologies to the HN'ers reading this :)

dx034 7y ago

I love transferwise and use their service for several currencies but it shows how hard it is to get right. E.g. EU customers in the US get a bank account on the name of Transferwise with you as the beneficiary. Even larger invoicing systems in the US can struggle with this as the person is not a US resident, has sole access to the funds and yet the account holder is a US entity. Customer Service, UX and speed are amazing. But it took me a while to convince US companies to accept this structure.