TransferWise is a peer-to-peer money transfer service offering a cheaper alternative to established institutions. What makes TransferWise innovative and different to other money transfer services is the way in which it routes the payment. Instead of transferring the sender’s money directly to the recipient, it is redirected to the recipient of an equivalent transfer going in the opposite direction, reducing the costs of international money transfer. TransferWise fully supports 17 currencies and six more operate on a ‘send only’ basis.