How does Wise work to receive money

Wise works to receive money by giving you local bank account details in several currencies, which you share with the payer, or by letting you request money in the app.

A Wise account lets you hold money in over 40 currencies and convert between them at the mid-market rate. Wise says you can receive money in 22 major currencies.

1. Open a currency balance: Log in to Wise, pick the currency you expect to receive, such as USD, EUR or GBP, and activate that balance.
2. Get your account details: Open the balance and choose "Get account details" to see your own account number, routing number or IBAN for that currency.
3. Share the details: Give these details to the person, employer or business paying you so they can send a local or international transfer.
4. Hold, convert or withdraw: The payment arrives in your Wise balance, where you can keep it, convert it at the mid-market rate or send it to your local bank account.

For a broader Wise overview, it helps to know the other ways money can reach you besides sharing account details:

• Payment request: Use the request feature in the Wise app with the sender's email address, phone number or Wise tag.
• Payment link: Create a link and send it to the payer so they can settle up.

For people in India receiving money from abroad, Wise converts the funds at the mid-market rate and transfers them to the recipient's bank account.