TransferWise

Send money abroad without hidden & excessive bank fees 💷 🔁 💶

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#2 Product of the WeekJanuary 18, 2014
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Reviews

  • Leslie HughesFounder & CEO, iSPY Visuals, Inc.
    Pros: 

    Simple easy way to transfer money overseas. Lower fees.

    Cons: 

    Can't schedule ahead.

    We love Transferwise. It makes it easy to pay our partner in the UK. The fees are lower and once you set someone up, you just click to send again. Only wish is that they add the ability to schedule payments ahead of time.

    Leslie Hughes has used this product for one year.
  • Chris | VrixeCo-plan and edit events
    Pros: 

    Cheap transfer rates.

    Simple to use.

    Cons: 

    Might be for security reasons but the app logs you out too often.

    Beautiful UI should not matter when it comes to money talks? Wrong!. This app looks good and works good and under the hood, talking about sending money, they have such a refreshing idea that just makes it all so easy but not too easy to make you send in a heartbeat, which is perfect. Love it!

    Chris | Vrixe has used this product for one year.

Discussion

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James MundyHunter@_jamesmundy · CTO @ SailConnect
@malaparte pretty sure they have a bank account in every country with a large amount of cash in it. They pay people in those countries from the account in that country which doesn't incur any charges. They then transfer large amounts between their bank accounts to spread the funds and don't pay very much in the way of fees in relation to how much cash they are moving.
Andrei M. Marinescu@malaparte · Partner, 500 Startups
Hmm, would love to understand how the transfer is actually performed on the back-end.
Stephanie Gonzaga@stefgonzaga · Writer/Blogger/Book Collector
As the person at the receiving end, Transferwise blew me away with how fast they're able to deliver the money to my bank account. Before using this, it's always been Paypal. I'm crossing my fingers the service maintains its speed, performance, and reliability.
Kola Ibrahim@kola_ibrahim
pretty sure they have a bank account in every country with a large amount of cash in it. They pay people in those countries from the account in that country which doesn't incur any charges. They then transfer large amounts between their bank accounts to spread the funds and don't pay very much in the way of fees in relation to how much cash they are moving.As the person at the receiving end, Transferwise blew me away with how fast they're able to deliver the money to my bank account. Before using this, it's always been Paypal. I'm crossing my fingers the service maintains its speed, performance, and reliability.
Marcos Ortiz@marcosluis2186 · Co-founder at Capital Latino, LLC
@TransferWise is one of the my favorite FinTech companies today. Great work @taavet @silver86 @nilanp That´s why I wrote this in my blog: https://medium.com/a-data-driven...