Floship is a logistics technology company that provides end-to-end global fulfillment and logistics solutions for eCommerce brands and large-scale crowdfunding campaigns, offering cross-border logistics, with international warehousing, global shipping and returns management, and multi-brand management.
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Wise
Score 9.3 out of 10
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Wise, formerly TransferWise, from the company of the same name headquartered in London, provides international accounts and payment solutions for businesses. Wise helps businesses pay international invoices, vendors, and employees with the real exchange rate, in 80 countries, boasting cheaper rates than traditional banking options. It also helps to make faster, lower-cost payouts to all business customers, freelancers, employees, investors, and suppliers around the world.
I feel you should AVOID FLOSHIP AT ALL COSTS - in my experience, we have a USD 137,978 loss and counting; they have charged my card for $10,000+ without consent multiple times. I personally recommend AVOIDING THEM AT ALL COSTS. I was originally approached by Floship to provide fulfillment services for a Kickstarter campaign. After being provided a full cost simulation and in-person advice, it was my experience that all support disappeared once fulfillment should have begun. In my experience, our clients have been severely inconvenienced through ineffective and late shipping practices. I feel we have burned a significant amount of time and money in correcting this; to the extent that we will look forward to just shipping ourselves and/or using better alternatives such as Easyship in the future. I feel they do not provide any visibility to their costs which I believe are entirely inflated (e.g. more than $50 USD quoted as import tax for a $3 shipment). It is my experience that they need to provide receipts for their services charged. [...] In my experience, having not dealt with Floship for several months, they have now attempted to charge a card we removed from their website. I believe this implies that they keep your payment details stored separately and record your CVV and other sensitive information. I have since canceled the card since they haven't stopped, and we do not owe them any money. [...] I feel that Floship's complete hostility at the suggestion of any wrongdoing indicates the awful experience I feel you will also have if you work with them. It is also my belief that their responses do not attempt to address our concerns [...]. I feel our prior requests for support, transparency regarding postage receipts, and general work orders have been largely ignored until I spoke out publicly. [...]
For a small business looking to expand internationally, transferwise offers lower admin fee and no hidden fee which is very important. It also remove the hassle and headache of setting up accounts with the local banks. Other than the low fees, the best part is we can use transferwise safely with a peace of mind as it is being regulated by the MAS. Lastly, any small business can set up their transferwise account within minutes which is very convenient
I believe that all costs were hidden with 0 visibility. For example, I was charged a 3% transaction fee and 3% card fee with no other payment options. Shipping costs are provided to you up to 3 months later, but in my experience, no receipts are provided.
I feel that customer service is non-existent. In my experience, my emails went unanswered unless they are actively soliciting.
In my experience, additional services such as pick packing inflate costs drastically making our costs 60% underquoted.
For large money transfers, the tax is a bit expensive so it would be nice if that was adjusted or if there was some economy of scale.
Ability to schedule recurring transfers could be useful.
Be able to transfer money by using a mobile phone number, like with Mobile Pay or Bizum, when the sender and receiver of the money are in different countries.
We considered PayPal payment, ACH bank transfer, and simply mailing a check. TransferWise's fees were much lower than PayPal and our bank. Postage might have been less than TransferWise's fee, but payment could have taken more than a week rather than hours (or days in the case of a new payee).
