Paying Foreign Affiliates with Transferwise
 

Has anyone explored this possibility?

TransferWise has great exchange rates (the best, in fact), quite low fees, and it's a reliable, local bank transfer for both parties.

I think they allow businesses to use it to pay affiliates, and I couldn't find anything in their TOS that forbids adult.

Could be a great option to rely less on Paxum and Payoneer.

i like services like transferwise .

I absolutely do NOT recommend Transferwise.

They do not allow adult in their TOS and will look into your company information and will deactivate your profile if they make the discovery. They also are not the cheapest way to transfer money in spite of making it seem like they are.

Mid-market rate may be cheaper, but it's not going to matter much if you're transferring anything less than thousands of dollars. Also their fees for sending out wires aren't cheap at all. We were charged about $12 to send sub $1000 wires to Japan and around $35 to send anything more.

Fortunately there's other (larger) companies just like them who do not make mention of banning adult in their ToS's and charge way better rates. The one we use (which comes up right on top when searching for international money transfer services on Google) only charges $5 per transfer and $0 if it's over a few thousand. We've been using them for months now and have had zero issues.

We also found it took 1-2 weeks (!) for Transferwise to send out a payment if we paid it to them via direct debit or ACH whereas the company we use now also can direct debit and only holds the money for 1 day before sending it out.