Before financial technology start-ups became all the rage, there was TransferWise. In 2011, TransferWise launched to disrupt the money transfer sector, which it has. It enables people to send and receive money–internationally and locally–at mid-market exchange rates and low fees. All costs are known upfront and guaranteed (up to 48 hours). By contrast, many money transfer companies and banks markup exchange rates and charge high fees. Some even hide their pricing details in their terms and conditions.
TransferWise customers can hold 40+ currencies and get bank account details for the US, UK, Eurozone, Australia, and New Zealand through a “borderless” multi-currency account. A debit Mastercard is also available in some regions.