17 thoughts on “How to open bank account online for free with TransferWise?

  1. I live in the USA but I receive my monthly retirement money in a german bank.

    I use TransferWise every month to transfer money from my german bank account to my US bank account,; with other words, I have already a reference # from TransferWise.

    My question, can I open a borderless account with TransferWise?

    Looking forward for your early reply.

    Thank you in advance.

  2. Hi at transfer wise, soon I may need to take an account out with you, before i do could you tell me please ;Q 1,what are the addresses of your agents in can-goo Bali please, the address MUST be can-goo as the recipient of the transfer is on holiday there and has no transport. Q 2, What would the transfer cost be say for 200 euro to my recipient in
    can-goo,my euro,s would appear in Bali as Indonesian dollars i think, looking forward to your reply . Many Thanks Colm, ( so 200e to the local Indonesian currency)

    1. The debit card that is linked to your borderless account is good to pay for tickets. Of course first you will need to deposit money to the borderless account.

  3. I receive money from an company in America, which they pay into a paypal account opened in Australia, up yo date I have had to transfer the money into my bank account in Australia and then another transfer from Australia to Thailand.
    Can I open a borderless account, have the paypal transferred in to it and then have it straight into my Thailand bank account. If possible what would the fees be?

    1. PayPal has really high margin for each transfer. You can save a lot if you just open TransferWise borderless account in USD currency and your American partner will pay to it using a local bank transfer. Then TransferWise can convert money to Thailand bahts applying mid-market exchange rate and send to your personal bank account. That may sound complex but it’s really easy.

  4. Hi Colm,
    This is a very informative post about an online bank account. TransferWise is one of the best options for an online bank account. The interesting part is it’s free and easy to use.
    Thank You!

  5. I have a GBP account in Egypt. I have to send money every month to my bank account in Thailand.
    Whether I do a TransferWise transfer through my bank account or through a borderless bank account, it looks like I have to do a SWIFT transfer which will have additional fees (probably making it similar to the fees I pay when I transfer through my bank).

    Does that sound correct? Any help would be greatly appreciated.

    1. If it’s a GBP account then I assume SWIFT transfer will not be required. Just register and try to make a small transfer to see how it works. You can cancel the transfer before uploading money if you find it too expensive for you.

  6. Hi there!
    Can a TransferWise account replace my bank account?
    My bank is making me suffer in so many ways!!!!!
    How can I deposit money into a TransferWise account without needing a normal bank account?

    1. As an option you can try getting your salary to TransferWise borderless account directly and use it as a main account. Keep in mind you can’t deposit with cash.

  7. I want to purchase an item from a small shop in France. They do not take credit cards. I am looking for an inexpensive, secure way to pay for the item. I need to send USD and have it converted to EURO. Is Transfer Wise an option for this transaction?

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