Still Sending Money Abroad with a Bank? Stop.
Wise (formerly TransferWise) is one of the few fintech promises that actually held up. Here's why I still recommend it for paying overseas contractors and suppliers in 2026.
Banks have had a decade to fix international transfers and chose not to. The exchange-rate markup is still 3-5%, the wire fee is still flat and ugly, and the transfer still arrives whenever it feels like it.
Wise gives you the mid-market rate, a transparent flat fee, and, for most corridors, settlement in minutes. For Australian businesses paying overseas contractors, SaaS suppliers, or freelancers, the savings compound fast.
What's changed since 2023
Wise now does multi-currency business accounts with proper accounting integrations (Xero, MYOB), batch payments via CSV or API, and stablecoin on/off-ramps in several regions. The product has quietly become serious infrastructure.
When it's not the answer
High-touch trade finance, large lump-sum FX hedging, or anything where you need a relationship manager, go to a specialist. For everything else, Wise is the default.
Try Wise with my invite
If you haven't used Wise yet, sign up with my invite link, click here. You'll get a fee-free transfer to start, and I get a small thank-you when you do.