Last updated on October 9, 2020
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Before financial technology start-ups became all the rage, there was TransferWise. In 2011, TransferWise launched to disrupt the money transfer sector, which it has. It enables people to send and receive money–internationally and locally–at mid-market exchange rates and low fees. All costs are known upfront and guaranteed (up to 48 hours). By contrast, many money transfer companies and banks markup exchange rates and charge high fees. Some even hide their pricing details in their terms and conditions.
TransferWise customers can hold 40+ currencies and get bank account details for the US, UK, Eurozone, Australia, and New Zealand through a “borderless” multi-currency account. A debit Mastercard is also available in some regions. Its business account targets freelancers, entrepreneurs, SMBs, and large companies. It’s an excellent account for paying invoices, receiving money, and batching payments. Finally, TransferWise manages the money transfer operations for several challenger banks, including N26, Monzo, and bunq. That speaks volumes about its services and reputation in the financial community.
- Founded by Taavet Hinrikus and Kristo Käärmann in 2011
- Headquarters: London, United Kingdom
- Valuation status: Unicorn
- 10+ offices worldwide
- 2,000+ employees
- Over seven million customers
- Customers send billions every month
- Available in 50+ countries
- Customer support and the website are available in multiple languages
TransferWise Affiliate Program
TransferWise has an affiliate program, which anyone can join. It’s hosted using affiliate marketing software from Partnerize. Let’s review the benefits, drawbacks, commission rate, cookie duration, and program details. Here’s a snapshot.
- Category: Financial services, money transfer
- Cost per action (CPA): Cost per transfer
- Commission rate: Starts at £10
- Commission type: Single payment, nonrecurring
- Cookie duration: Lifetime
- Payout threshold: £30
- Payment options: Bank account
- Affiliate software/network: Partnerize
The affiliate landing page is excellent. An affiliate landing page is supposed to be informative, and TransferWise hits the mark.
Affiliates can earn fantastic commissions. The standard commission rate starts at £10 and can increase with performance. Higher rates are available for business account conversions.
The commission payout threshold is low. TransferWise issues payments when commissions exceed £30 or the local equivalent. Payouts are sent to the affiliate’s bank account.
Affiliates get a lifetime cookie. One of my biggest complaints with some programs is that their cookie/conversion windows are too short. TransferWise’s referral period more than exceeds the 30-day industry standard and is one of a few programs to offer a cookie that doesn’t expire. That’s as good as it gets.
There’s a full-time affiliate marketing manager. When a merchant has the staff to support publishers, it quickens processes and shows commitment.
Deep linking is available. Deep linking is how an affiliate creates a link to a specific page on the merchant’s site. For example, instead of using a generic homepage affiliate link, I can link to an article related to my post. Publishers can create links and direct traffic to pages of their choosing.
Affiliates can easily track their results and earnings. Partnerize offers robust reporting capabilities to monitor your activities, including clicks, impressions, sales, and commissions.
Marketing materials are excellent and available in different languages, styles, and sizes.
TransferWise is a pioneer and top-rated financial technology (fintech) company. It was one of the first companies to offer mid-market exchange rates to individuals. Its low fees and transparency serve as industry benchmarks. It has won numerous awards in tech and entrepreneurial circles. Separately, I’ve been using TransferWise for years and have saved thousands on fees.
TransferWise also has a referral program. The program is ideal for existing customers who want to promote TransferWise to their friends, colleagues, and business contacts. Note: you cannot combine referral and affiliates programs to receive higher commissions.
TransferWise pays attractive commission rates; however, a fixed or variable recurring commission for the life of the customer could be an appealing alternative.
Can you make $1,000 a month as a TransferWise affiliate? You can and more. TransferWise’s supports you with an excellent commission rate and cookie duration. Secondly, it’s carefully expanding its product line to address the needs of freelancers, entrepreneurs, travelers, and business owners, like myself. For instance, I frequently use TransferWise to receive payments (instead of PayPal) to avoid high fees. More products will produce more marketing opportunities.
Where should TransferWise rank in your marketing activities? It should be a mid priority. TransferWise is a top-rated company and one of the fastest-growing fintechs globally. It maintains an “excellent” rating on Trustpilot, a customer review website. Additionally, foreign exchange (forex), money transfer, and remittance combine for trillions of dollars in transactions. Therefore, TransferWise’s products and services are vital in an increasingly connected world.
I recommend joining TransferWise’s affiliate program because it has excellent potential, and I’ve made money with it. Furthermore, it’s a Digital Fodder top 40 affiliate program.