Works great in my experience. It comes out way cheaper than our business banking for paying our workers in Europe from the US.

It's also really easy and convenient, while setting up wire transfers with our Major Bank in the US was complicated and arcane. To date, Major Bank doesn't offer us online wire transfers, for a business account!

We also use TransferWise to accept customer bank payments in Europe, without having an actual presence there.

I've used it to transfer money between an account in the UK (GBP) and my account in the Netherlands (EUR). It took less than 24 hours from signing up to Transferwise to having the money in my Dutch bank account and I got a good rate on it. No complaints from me whatsoever.

I used it a bunch of times, it’s great. Usability is awesome and it’s reasonably fast.