QUOTE(Ramjade @ Mar 21 2020, 11:25 AM)
You cannot withdraw out USD to transferwise. They already mentioned somewhere in their terms and conditions they don't support transfer or
incoming transfer from transferwise. Last time, I managed to deposit EUR via Transferwise. I've checked my past transactions. I did it in Dec 2019.
but I never use TW ever since because InstaRem is miles better (except it doesn't have a debit card).
QUOTE(Ramjade @ Mar 21 2020, 11:25 AM)
Of course there are charges. Transferwise needs to survive. Is not a charity body. Again it's clearly mentioned in their fees, there's a charge for moving money out of borderless account. All clear cut and written.
The charges is nothing compare to amount you need to spend to travel to US to open bank account. I use that account for receiving USD from my US cashback shopping.
Two reasons why I'm unhappy with charges:
1) they already charge a fee when I transfer money into the account (with currency conversion);
2) I've USD in the borderless acc. I converted it to another currency ABC (with a fee). I used the debit card and spent ABC. That's fine! But then when I needed to withdraw ABC currency to a local bank, there was a charge. It'd be cheaper if I had just convert USD and moved it directly to a local bank account in one transaction. Yes, it's written in the T&C, but doesn't mean I'm happy with it.
Anyway, that's all over now. I don't need to deal with similar transactions in the foreseeable future.
but yes, in your case, it's definitely worth the fees since you don't have a local bank acc.