An important thing to take into account when you want to come study in abroad is how to transfer money from your country to France at different moments during your journey. It can be your tuition fees or to pay for your accommodation. The thing is that you will have to pay in Euros. And if you haven’t opened a bank account in France yet, then there will be exchange costs. Did you know that there are hidden fees in the exchange rate? Indeed, regular banks impose an international transaction fee in addition to the amount that you have to pay. 

But what if we told you that you could avoid these fees? 

You just need to create an account on the online bank Wise. Don’t worry, it’s not very complicated, and on top of that, it is as safe as regular banks, while being cheaper. In this article, we will explain everything you need to know to transfer your money to France.  

What is Wise?  

Wise is an online and mobile bank that lets you send, spend and withdraw money around the world. It is available in more than 50 different currencies. It is especially a good solution for people that live or often travel abroad. 

Using it, you will benefit from reduced transfer fees and exchange costs. So, it is a great option for you as an international student coming to France, if you need to transfer money. 

What are their offers?

Wise 

By just creating an account, you already have access to many features of the platform. You can transfer money very quickly, with the cheapest transfer fee on the market. 

Wise multi-currency account

You can also have access to a multi-currency account, it is also free. Send money for up to 5 times cheaper than with a regular bank. You can also get a bank account number, available for 10 currencies (US dollars, British pounds, Euro, Canadian, Australian, New Zealand, and Singapore dollars, as well as Hungarian forint, Romanian leu, and Turkish lira). That way, you can send and receive money just as if you had a local bank account. You’ll also have the possibility to hold and convert money in 56 currencies for free. 

Wise debit card

For 7 Euros, you can have your debit card with which you’ll be able to spend money in the currency of the country you are in. The card is accepted wherever Mastercard and Visa are accepted. 

It is available in more than 200 countries and more than 2.3 million ATMs. You can also use Google Pay and Apple Pay with the Wise debit card.

How does Wise work?

1- You can create an account very simply and quickly, you just need an email address. You can also use your Google or Facebook account to log in. 

2- Then, if you want to send money, just enter the amount you want to send. Wise will show you their fees and tell you when the money will arrive. 

3- After, you can fill in the details of the recipient’s bank account. If you don’t have them, you can just enter their email address. Wise will find their details if they have an account, and if they don’t, the company will send them an email asking for their bank details.   

4- For some currencies, you’ll have to upload a photo ID, to ensure your money is transferred safely. 

5- The only thing left to do is to pay for your transfer, and that’s it! 

6- You’ll be able to track your transfer, and the recipient will be notified by the company. 

Why you should choose Wise to transfer money to France

There are several reasons why opening a Wise account could help you in your future student life in France. 

• It is cheaper: on average, Wise is about 7 times cheaper than regular banks. It is also cheaper than the other online banks (you can find their comparison table below). 
• Wise is safe: indeed, it is regulated by financial authorities just like any other bank, in every country they are operating in. 
• Its speed: you can create an account very quickly, and the transfer of money is also very fast. Indeed, over 30% of transfers with Wise arrive instantly, and 81% of all transfers arrive within a day.
• Coverage of currencies and countries: people with a Wise account can hold, spend and send money in more than 56 currencies, available in 50 countries.

Don’t hesitate to check out Wise’s website for more information.

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