Do you need to send money to somebody in a different country? Do you need to pay somebody in different currency and not lose money on exchange rate? Shortly, if you use PayPal for this purpose you would have to pay much higher fees comparing to TransferWise. You should understand it’s not an alternative but different payment system. PayPal’s primary function is to make and receive payments (for goods and services) not to make money transfers. TransferWise is designed for international money transfers at first pace. In this article I’m going to explain main differences of these two providers. Continue reading
Searching for an easy, quick and cheap way to receive and send money internationally? The new TransferWise service named Borderless account has it all covered. You can open a bank account online, hold and manage money in 15 different currencies on it.
TransferWise is an international company which has bank accounts in most parts of the world, so they are using peer-to-peer technique, providing very low fees for currencies conversion.
Borderless account is their newest service introduced this month, which allows you to open a bank account quickly online in order to have money deposited on it. This makes it great to be used by expats, freelancers, business owners and whoever has the need for international transactions. Continue reading
Brett Meyers, the founder of CurrencyFair, has positioned his Irish-based fintech firm for growth. In a series of funding, rebranding, and recruiting, the firm has sought to garner the human and financial capital aimed at giving the company the resources it requires to grow its business.
To this end, CurrencyFair has raised €8 million $8.8 million in its latest round of funding as well as recruited top-rated management team in Sylvie McDermott and Paul Byrne. Lead by Octopus Ventures and Frontline Ventures, the latest round of funding bring the total amount of funds raised by the Irish-based startup to roughly €20 million, giving the company sufficient funds to finance its growth ambitions. Continue reading
Several years ago, I was using the services of Western Union to send money overseas, seeing as it is a reputable company that has been in the market since 1851 as a leading money transfer service. For the most part, I had no problems with their services, and I settled into accepting what Western Union has to offer. However, I later came across TransferWise and realized that it was possible to get better service. The rates were noticeable better, and the transfers are fast, taking a day, half a day, or sometimes, just a few hours. Continue reading
Before I make any decisions to purchase a product or try out a new service, I take the time to find out what customers have to say about the product. For me, customer reviews, especially the TransferWise complaints, give an indication of what is really happening with the company. TransferWise takes the time to listen to their customers, understand their problems and solve them as soon as possible, and better than the customer expected. It is clear to me that they place emphasis on managing their reputation. Here are some of the typical TransferWise complaints I have come across, including the steps that the company has taken to resolve the issues. Continue reading
I’m living and working abroad for about five years so far and as any other expat I quickly faced the problem of sending money to home country. Moreover, I’m frontier worker who work in Gibraltar and live in Spain. Different countries, different currencies and I had to find a way how to sort out my money transfers between them. The cost of a transaction makes me think twice about how much I am sending, and how often. Then I discovered TransferWise and it was as though my eyes opened for the first time. Continue reading
Choosing between any two competing service providers can be a very daunting task. This is what hits you when you want to choose between HiFX and Transferwise. Transferwise is a British start-up money service company established by the founders of Skype and PayPal in 2011. They started an easy and new initiative to convey money between people instead of countries.
HiFX was founded in 1998. It has its head office in UK Windsor, Berkshire. It was formed solely to solve the question why it cost so much to send money overseas and seek to provide a cheaper means to do so by offering better exchange rates. HiFX is privately owned. It was acquired in 2014 by NASDAQ listed Euronet Worldwide, Inc. Continue reading
Surveys indicate that immigrants and business corporations transfer billions of dollars all over the world. By 2015 according to the World Bank, $515 billion will be transferred.
Sir Richard Branson better known as founder of Virgin group of companies decided to back Transferwise, an online transaction start-up whose aim is to tap into the huge money transfer market and revolutionize the way the way things work by stamping out hidden charges that other transfer institutions like banks impose on customers.
Transferwise has received a funding of $25million from sir Branson, Peter Thiel, Index Ventures and IA ventures. This has been viewed as a stamp of approval by many especially customers who are always on the lookout for cheaper, easier ways to transfer their cash. To date, the total financial backing of the company stands at $33million in which the founder of PayPal, Max Levchin contributed 1.3 million dollars. Continue reading
If you send money to India frequently using bank and wire transfers, then you know how expensive it is. If you want to send money to India without paying exorbitant transfer fees, TransferWise is the answer to your prayers. TransferWise is an inexpensive, smart and secure way to wire money directly to family and friends in India. This currency exchange service allows you to send money to India from USA or from Europe to India without any hassle. You can also send outward remittance from India. Here are some benefits of using TransferWise. Continue reading
Transferwise is a revolutionary money transfer service that’s changes the way how we think about fund transfers. Unlikely banks and typical payment systems they transfer money between people rather than countries. It may sound complicated from the beginning but the idea under the hood is very simple.
The remarkable thing is that all people who take part are helping each other to make their payments happen. Continue reading