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How to Pay and Get Paid Worldwide with Wise (Transferwise)?

2 December 2021

Who does not want to do business abroad and earn worldwide?

I have very beautiful designs. I have rare handcrafted items. I can make very good software/websites. Or I can provide very good social media consultancy, SEO service, etc.; but…

We are aware of all these things we have and what we can do and say, “Let’s sell it too!” there is always a question that comes to our mind at that moment we say… Yes, you know that question:

How to Get Paid Worldwide?

Although there are different alternatives, in this article, I will tell you about Wise (formerly Transferwise), which I have personally experienced and opened an account very easily.

By the way, with Wise’s low commission, you can not only transfer money; at the same time, you can transfer to other countries. It is known that the high commission rates that banks cut in these transactions. This situation hurts especially students and families who are doing Erasmus or who need to study abroad and get pocket money from their families. By opening an account on Wise in the currency of the country you are in, you can send money from your country with a low commission. Now let the banks think, hehe 🙂

Let’s add a comparison chart that shows how much you get to the recipient when you send €1000, compared to banks.

Long story short; I, like you, thought of doing business abroad in a few areas and researched dozens of marketplaces. Finally, I said that I need to receive this payment directly. Because you cannot easily become a member of every market place. Or even if you are, the conditions can be harsh. Commissions deducted from each of your sales, etc. a lot of junk comes out. Most of them do not even have a payment method that you can receive directly into your bank account in Turkey. Let’s say you didn’t have any problems with all this; your product or service may not be suitable for sale in a marketplace, or you may not need it. In this case, all you need is a system where you can receive payments from anywhere in the world and transfer the payment you receive to bank accounts in your country.

When I have started to ask “How will it be now?” and try to find a solution I came across Wise and thought I’d give it a try. And finally, I have an account where I can open a balance in any foreign currency and receive payments. Yes, you open a balance in the currency you want and each one has its own IBAN. You want your customer in that country to pay your account by giving this IBAN to whatever country you will receive payment from. It is the same as how you get paid with EFT in your country.

“Wooow! This is good, but don’t take too long, tell us how we open an account.” you seem to say. You are right… Let’s open an account.

How to Create a Wise (Transferwise) Account?

  1. First of all, you need to create a membership.
    Click here to become a member of Wise.

When you register with this link, you will have the right to uninterrupted transfer up to ₺4250. If you transfer more than this amount, you will only be charged for the increased portion.

You will see a page like this. To get your free transfer entitlement, you must make sure that this information appears.

If you need to open a corporate account, open a Corporate account; but I will describe the process of opening an individual account, considering that most of our friends who have personally experienced and probably read this article also need an individual account.
The Personal option is already selected. Leaving him alone; We fill in the other fields and press the registration button.

2. A screen asking “How much do you want to transfer?” appears. If you select “Low cost transfer” here, you will see a discount applied for you by saying Discount Applied. If you are not going to post yet, you can click the cross in the upper right and skip here.

And our membership is complete. For convenience; If it is in English, you can change the language of your account to Turkish by clicking Settings on the top right as the first thing.

Select Turkish from the section that says “Language Settings” below.

3. Confirm your email address.
As you can see in the image above, you need to confirm your e-mail address. You should have received a confirmation e-mail like the one below. You will activate your account by clicking the “Confirm my email address” button.

4. After confirming your e-mail, click “Get Started”

When you click it, a screen like the one below will open. Let’s move on by clicking on Let’s get started.

On the next screen, it asks again: Individual Account or Corporate Profile? If you are a taxpayer, you can choose a corporate account. Of course, in this case, you will be asked to upload some additional documents (tax plate, etc.) related to your job. Since we will open an individual account, we continue with the “Individual account” option.

5. On the screen that opens, fill in your personal information as below and press Confirm. ID, SMS, etc. It is important that you provide this information correctly, as verifications may be requested. Never give false information.

6. A screen like the one below will appear. Select the currency of your first account. You can then open as many accounts as you want in any currency you want. At this stage, it doesn’t matter much what you choose. You can also choose Turkish Lira, US Dollar, or something.

7. Congratulations! You now have an account where you can receive payments from all over Europe or send money from Turkey. You can see your account details by clicking the arrow shown below.

IBAN etc. Your other information will appear in front of you as follows.
Now you can use it as you wish 🙂

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