Wyre can help you send money to Mexico, Brazil, China or Hong Kong in less than 24 hours.
Offering competitive rates and transfers in as little as six hours, Wyre can help you send money to family, friends or businesses in select countries. Founded in 2013, Wyre is a newer service that transfers your cash with cheaper rates and up to three days faster than competing services.
How does Wyre work?
Unlike other money transfer services, Wyre is a bitcoin startup that uses the blockchain — a digital wallet that publicly records transactions for bitcoin and other cryptocurrency as they’re made — to settle transactions, acting as an intermediary between you and your recipient.
After signing up for a Wyre account, you can begin transferring money to its select countries with no minimum or maximum amounts.
Wyre is best for:
- Transfers to China, Mexico, Hong Kong or Brazil.
- Large amounts. With no maximum limit, send as much as you need.
- Domestic transfers. There are no fees for sending money to the US.
How much does it cost to transfer money with Wyre?
Normally, Wyre charges a 0.74% cross-border transfer fee on international transfers. Domestic transfers between Wyre users are free.
What types of transfers can I send through Wyre?
In addition to one-off transfers, you can schedule regular payments through Wyre.
For US clients, Wyre currently supports ACH and wire transfers from your bank account. If you’re outside of the US, you’ll need to confirm your transfer methods with Wyre by your country of origin.
Available currencies and countries
You can transfer money to the following countries:
- Bitcoin. You can also make bitcoin payments through Wyre.
How do I use Wyre?
To start using Wyre, you must sign up for an account. As it ramps up service, Wyre is manually onboarding new accounts. So to sign up for a Wyre account, you will need only:
- Your full name
- A valid email address
- A phone number
You will receive a confirmation email when Wyre’s associates have completed creating your account.
Once you’ve scheduled a transfer with Wyre, you can track its progress through your Wyre account. Your recipient’s pickup method will depend on their country.
What is Wyre?
Wyre promises to “replace technologies that have been stagnant for 30+ years,” focusing on revolutionizing transparent cross-border payments to become the fastest and most competitive transfer and remittances service out there.
What do customers say about Wyre?
Wyre is highly rated on TrustPilot, with a TrustScore of 8.8 out of 10. One customer claims it’s the “best US-China money transfer service,” while another exclaims, “Customer for life!”
Compare Wyre to the competition
Wyre doesn’t actually have a standard markup over mid-market rate. It typically uses the blockchain rate, which is often better than the mid-market rate.
Wyre competes on speed and exchange rates, but there may be better options for online transfers that may suit your needs.