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A Wise account (formerly TransferWise) is a digital financial account that allows individuals and businesses to send, receive, and manage money internationally at low cost. Wise offers multi-currency accounts, enabling users to hold and convert over 50 currencies with real exchange rates (mid-market rate) and minimal fees. Users can get local bank details (such as IBAN, routing number, or sort code) in countries like the US, UK, and EU, making it easier to receive payments globally. The account works via the Wise app or website, where users can transfer funds, convert currencies, and pay bills. It’s ideal for freelancers, remote workers, and international businesses looking for fast, transparent, and affordable cross-border payments without traditional banking hassles.
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