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Opening a Wise account is free. You pay small fees per transaction when sending money internationally. Wise uses mid-market exchange rates with no markup, making transfers very cost-effective.
Wise (formerly TransferWise) is an international money transfer service. It offers multi-currency accounts, debit cards, and significantly cheaper international transfers using real exchange rates.
Wise offers much better exchange rates with lower, transparent fees for international transfers. PayPal is more widely accepted for merchant payments. Use Wise for transfers, PayPal for purchases.
Source: wise.com