Money is one of the weapons used by patriots in Hong Kong to fight for democracy, freedom and justice. Using our purchasing power to force the government to agree with our Five Demand, we withdrew all our money from the banking system and boycott banks originated or closely associated with China.
After the withdrawal, we would then set up an offshore account and send the money to it for security.
Then we encountered a big issue, money transfer. The exchange rate from banks is terrible, not to mention the hassle you need to get when doing this through banks.
In the end, we discovered TransferWise, a service enables us safely and swiftly move our assets overseas with really, really reasonable cost.
In this article, I will show you why we use TransferWise and how to get a free transfer with it.
TransferWise is a money transfer platform established in London in 2011. They aim to deliver money transferring service with transparent pricing, low transaction fees and mid-market exchange rate.
The service of TransferWise is safe, as it is regulated by the authorities around the world, including Australia, United States, United Kingdom, European Union and Japan. They have also licensed as a Money Service Operator in Hong Kong.
The reputation of TransferWise is outstanding, as they have achieved a 9.1 rating in TrustPilot based on actual users’ feedbacks.
The biggest advantage of TransferWise is its speed and user friendliness. You can sign up and finish transferring to the world in just 5 minutes!
Besides speed, the pricing of TransferWise is transparent. You can anticipate all the fees before transaction easily.
You can use this calculator to preview all the fees and exchange rate before transaction(Do not make your transaction here, or else you will not get the free transfer).
The only drawback of TransferWise is that they only accept transferring to an account in different currency.
For instance, you cannot send USD to a USD account directly. You have to send in a currency other than USD to a USD account.
If you are referred by existing users of TransferWise, you can get a first time free transfer, waiving you all the fee for the first $5000 HKD in that transaction.
Since TransferWise earns most of its profit from transaction fee, and they provide a mid-market exchange rate. If they waive you all the fee, this money transfer is really free!
If you do not have any friend using TransferWise, you can use my referral link to get this offer.
A computer with Internet access
This tutorial will teach you how to sign up and transfer money in TransferWise for free in 5 minutes
Sign up with a referral link in order to get the free transfer offer. You can use my referral link if you have difficulties in finding one.
Enter your Email and password as required on the page.
Enter the amount you wise to transfer. If you have used a referral link to sign up, and inputted a transaction amount equivalent to $5000 HKD, you should see the transaction fees equal to zero.
Then you will need to select the type of your account for sending money and your own personal information.
Choose the owner of that account, and enter information of that account accordingly.
You have to transfer your money to TransferWise account first , and they will transfer the amount to your designated account.
Paying with credit card is the fastest and the most expensive option here. You may consider transferring the money from your bank for a lower transaction fees.
But since all fees have been waived in this transaction, you should definitely pay with credit card this time.
And now it is all done!
How can I get a free transfer in TransferWise?
You need to sign up through a referral link from existing TransferWise users to get the free transfer in TransferWise.
Do I need proof of address or identity for transferring with TransferWise? How long will it take from signing up and complete my first transfer?
You do not need proof of address or identity for transferring with TransferWise. It will only take you about 5 minutes from sign up to finish your first transaction.
How long will it take for the amount arrives in the receiving account?
If you use credit card to complete the transaction, you will see money in the receiving account in less than 30 seconds! It will take from 3 days to 7 days if completing the transaction by transferring money from your bank.
Is there any limitation to this free transfer offer?
You can only use this offer for once, and the waived amount is limited to $5000 HKD (you need to convert to your home currency here, 1 USD = 7.85 HKD). If you send more than this amount in the first transaction, the excess amount will be charged.
To where and in what currencies can I transfer money with TransferWise?
TransferWise supports money transfer in more than 60 currencies and countries. You can use this list to confirm where and in which currency they provide services.