Transferwise: currency accounts at low prices for the pro


Account ” Borderless “, that is the name of the new service of low-cost Transferwise – specialist – money transfer to destination professionals this time. This account is multi-currency allows SMES and self-employed workers to send and receive money at prices defying all competition… in particular banking. Focus.

TransferwiseDes exchange fees of between 0.5% and 1 % of the transaction amount

For money transfers of individuals, Transferwise claimed to be “up to 8 times cheaper” than banks. A promise which appears also to be held concerning small businesses and self-employed workers since Transferwise warns on its site : the account that is Borderless with no setup fee, no monthly fee and no fee reception!!!

Thus, the opening of the account, the deposit of money, the receipt of payments and the creation of banking information are services completely free of charge. The more ? The account multi-currency Borderless allows you to manage your money in 15 different currencies.

Count only the costs of exchange – the actual market rate – between 0.5% and 1 % of the transaction amount.

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The service is already operational in the United Kingdom and Europe.

To a bank full ?

According to an article of Echos.fr, Transferwise – which weighs almost as heavy as an actor as Western Union in terms of volume of monthly transfers – is increasingly similar to a traditional bank.

The newspaper business, tells us in effect that ‘ the funds are physically stored in the accounts of Transferwise in the Uk, the Usa or Australia “. In addition, Transferwise should be able soon to offer credit cards to its customers ” to make payments abroad “.

Neil Bensouda

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