how is it cheaper? the bank will take x% to transfer to transferwise same as it would if you payed directly to x company?
No, when you send money to Transferwise, it's always to a local bank to you. So no fees (at least not for me).
The payment at the other end is a local bank to Black Arrow.
Between the two banks, Transferwise will try to match the money payments of others, to give you a better rate. Or something like that.
You will pay the full fee up front, and then Transferwise will send you a refund if they manage to get you a better deal.
I have used them a lot, and only one time, I didn't get a refund. In any case, it's cheaper than the bank.
