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.

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...