In our attempts to make payments easier for our customers, we are on the continuous lookout for new ways. That’s why we are introducing Wise, formerly known as Transfer Wise.
It is an online payment system like no other- virtually without limit and versatile in its use of currencies. It’s time you take advantage of this system and pay for your medications with ease.
At EuroMeds One, we’ll consider Wise payments as an Alternative Payment Method (APM). Therefore, customers using it will enjoy the same 15% discount as those who use Western Union, MoneyGram, or Bitcoin.
The Advantages of Wise
There are tons of advantages. The truth is, since it is also a new system for us, we haven’t figured out all the functions yet. Here are the advantages we have found so far:
Send Money
You can send money to anyone in any country with a very low transfer fee. It’s really cheap. Funny thing is, the receiver doesn’t even need a Wise account. You can transfer to anyone with a bank account or an eWallet app. Wise supports 50 currencies.
And of course, if the receiver has a Wise account, all you need is his/her Wise registered email address and can send money in 2-3 clicks.
Receive Money
You can also receive money using your Wise account. Your wise account can be used as an eWallet so a sender with a Wise account can send money directly to your Wise. Just give him your Wise Registered email address.
It can also be used as a bank account. Your wise account comes with a SWIFT and an IBAN code so anyone can make an international bank transfer to your Wise, and you can then download the money to your own bank account or eWallet.
Wise Card
It is not available in all countries, but the citizens of the USA, UK, Australia, Canada, and France can apply for a Wise card, a debit card that can be used for grocery payments, online purchases, and withdrawal of cash from ATMs.
This makes Wise a fully fledged real bank account.
Multiple Currencies
The multi-currency option is a handy one. When you first open an account, you shall have one account with your local currency. After that, you can add currencies. For example, an Australian will first have an account with AUD. But if you have business partners in the USA, why not add a USD account? Then you can send a receive money in USD with ease.
You can also convert from one currency to another with a few clicks. So unlike a local bank, Wise is a bank account where you can save your money in different currencies.
Of course, we know you’d like to get started and pay for your medication so let’s begin.
Creating an Account
- If you are an Android or iPhone user, you can just type ‘wise‘ and download the app from Google Play Store or Apple App Store. If you are a traditional Desktop user, simply go to https://wise.com/
- Click the ‘Register‘ button. You can input your preferred email or use Google, Facebook, or Apple account to register.
- Next on the screen is the account type: Personal or Business. Unless you want to give out your business information, you should just open a personal account first. You can upgrade it to a business account later if you feel that Wise will be a great addition to your business.
- Next is your country. It’ll open the first default currency account- USD for the USA, AUD for Australia, and GBP for the UK people.
- Following is a 2FA, which requires your phone number. An SMS with an OTP code will be sent and you will verify your phone number.
- Set your password and done.
- If you are using the phone App to register, you will also be required to set a simple pin so that you don’t have to type in your email and password every time you log in.
The registration is now complete. You will not be asked to verify your identity until you have decided to transfer or add money to your account.
Adding Money
The next phase will be to Add (Upload money to your Wise account).
Click on your local currency and you will see the options to Add, Send, Receive and convert money. We are guessing that you will first have only one currency (local) and your balance will be zero.
Click the Add button, and the amount you want to add to your balance. You will be given the option to pay with a credit card or with your bank account. Bank account payments may take longer (2-3 days) to be credited. Credit/Debit card is instant. You will see your balance right away.
Before sending money for the first time, you will be required to put in your Name, Address, and a picture of your ID.
People using the phone app can take pictures directly. For those who are using a Desktop, a QR code will appear. Scan the QR with your phone and use the phone to take the ID pictures.
Verification takes less than 10 minutes. A confirmation that you are verified and are now able to send money will be sent via email.
How to Transfer Money
As mentioned before, you can send money to anyone with or without a Wise account.
- Click Send and choose the country and currency you want to send the money to. It can be in your own country, in which case, choose ‘Same Currency’.
- If the receiver has a wise account, simply put the email address, and Wise will recognize it.
- If the receiver doesn’t have a Wise account and wants to receive in his/her bank account, you will need the following details: Full Name, Address, Phone (optional), Email (optional), bank name, account number, and currency.
Always choose the receiver’s local currency. For example, if an America is sending money to an Australian, the receiver currency should be AUD. Wise will automatically convert it.
If the receiver doesn’t have a Wise Account and wants to receive in his/her eWallet such as CashApp, you need the same information as above, but only instead of the bank account number, use the eWallet account number.
How to Pay for Medications at EuroMeds One
We know you are eager to process the payments for your medications so we’ll get to it right now.
We have already created a Wise account to make things easy for you because Wise-to-Wise transfer is fast. Let us know when you are ready to transfer and we’ll send you a Wise payment link.
You will see the receiver’s name, order number, and amount.
If you are using a phone which has a Wise app installed, clicking the link will directly prompt the app to open and you can confirm your payment and transfer within seconds.
If you are using a Desktop, it’ll show you two options- Pay with a bank account and Pay with Wise. Since you are already a Wise user, you can choose to pay with Wise.
(Again, bank transfers take time.)
How to Receive Money Using Wise
There are two ways to receive money.
- The First one is simple and applicable if the sender has a wise account. Just send him your wise registered email and the amount you would like to receive.
- Go to your preferred currency wallet and click “Receive”. Input the amount you would like to receive and a message or reason for the money. Create a payment link and share it with your sender. The sender then will have the option to either send via his Wise or Bank account.
The Takeaways
As we discover more about Wise, we shall update this article and make it into a proper Step-by-Step guide with images and visuals. Look forward to that.