How to invest in companies on Wefunder using Transferwise
A guide for investors based outside the United States.
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Balance is raising money to make blockchains easy to use. We have partnered up with Wefunder to raise money through Regulation Crowdfunding offering.
You can go to our Wefunder page to invest:
International investors can use Transferwise to funds cheaply. If you have a UK bank account and you want to transfer Great British Pounds, you will need to send pounds and convert them to dollars. High street banks charge insane fees for this service. Transferwise charges much less. If you do not have an account, you can sign up using my link:
transferwise.com/u/charlese7 (You get a free transfer and we get a referral bonus)
We have created the follow guide to transfer funds using Transferwise to Wefunder.
Using Transferwise for the first time
1. What to do on the Wefunder page
When asked for ‘Payment Method’ on Wefunder please select wire as in the image below.
Please ignore the email instructions from Wefunder. It is not great. This guide is better.
2. What do to set up Transferwise and transfer the money
Go to my link to sign up: transferwise.com/u/charlese7 (We both get £50!)
If creating a new account follow the next step:
Enter the exact amount of your investment in the ‘Recipient will get exactly’ box and make sure you select USD as the currency.
Click ‘claim your discount’ for a lower cost transfer on us.
3. Follow the next steps to set up an account.
Once your account is set up. Please skip to point 4 below.
Existing Transferwise Users
1. What to do on the Wefunder page
When asked for ‘Payment Method’ on Wefunder please select wire as in the image below.
Please ignore Wefunder’s instructional email. It is not great. This guide is better.
2. Log into your Transferwise account.
Select transfer funds.
3. Transfer the funds
Enter the amount of your investment in USD. Please make sure you enter the exact amount you entered on Wefunder and change the currency to USD in the ‘Recipient will get exactly’ box. Highlighted in red below (an example investing $3,000):
4. Set up the transfer to Wefunder
Select ‘Business or charity’ when answering ‘who are you sending money to?’
5. Enter Wefunder’s bank details into Transferwise
Enter the following details for Wefunder:
Email: hello@wefunder.com
Name of business / charity: Wefunder Portal LLC
Recipient’s address
Country: United States
City: Cambridge
Address: 1 Broadway
ZIP Code: 02142
State: Massachusetts
Bank Details
Routing Number: 011002343
Account Number: 943539390
Account Type: Checking
Click Confirm
6. Copy the reference number on Wefunder into Transferwise
Add reference which will be provided on the Wefunder page here (highlighted in blue). It will also be in your email from Wefunder if you are no longer on this page.
7. Nearly there
Please go back to the Wefunder confirmation page and click ‘I sent the wire’.
You’re all done! Thank you!
If you have any issues please email charlie@balancemy.money and we will fix them.
