Wise is great for small transfers to LATAM
Wise is great for transfers abroad (LATAM in my case) of amounts (<$1,000 USD) as the commissions and fees are much lower than what traditional banks charge for similar wire transfers. Wise's transfers are also faster and it's easier to set up payees. However, if you send larger amounts, it actually costs more, and I wouldn't recommend it. When I transferred $3,500, WISE charged me more than my bank would have.