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TransferWise was born of frustration
Sending money abroad is deceptively expensive, thanks to the hidden charges we’ve all been forced to pay. The banks claim “free money transfers”, “0% commission.” Sounds like money’s already flowing freely, but far from it. It’s pure propaganda.
TransferWise removes all the wrongness, letting people send money abroad at the lowest possible true cost. Using only real exchange rates and tiny not-hidden-fees. Headaches averted, and a revolution sparked.
How it happened
Taavet Hinrikus and Kristo Käärmann are two friends who believe that money is meant to flow freely. But in the absence of a global currency, it doesn’t. An epiphany saved them thousands of pounds.
Taavet had worked for Skype in Estonia, so was paid in euros, but lived in London. Kristo worked in London, but had a mortgage in euros back in Estonia. They devised a simple scheme. Each month the pair checked that day’s mid-market rate on Reuters to find a fair exchange rate. Kristo put pounds into Taavet’s UK bank account, and Taavet topped up his friend’s euro account with euros. Both got the currency they needed, and neither paid a cent in hidden bank fees.
“There must be others like us," the epiphany went, the rest is TransferWise.
“Best rates i've seen and money transferred really quickly despite giving an estimated time of up to 2-3 days.”
“I've used Transferwise twice now and am really impressed about how fast their service was. Second time I received money the same day. very pleased.”
|Type Of Provider||Money Transfer|
|Comnutries Send From||
Brazil, India, Mexico, Pakistan, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Sierra Leone, Slovakia, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, Uganda, Ukraine, United-Kingdom, United-states-of-america
|Countries Send to||
Brazil, Bulgaria, El Salvador, Fiji, Greece, Honduras, Hungary, India, Indonesia, Iran, Ireland, Italy, Jamaica, Japan, Korea South, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Netherlands, Norway, Oman, Pakistan, Philippines, Poland, Portugal, Qatar
|Minimum Transfer Amount||50|
|Maximum Transfer Amount||10000|
|Receving Method||Bank Transfer|
Vorto Trading partners with SendThatCash for foreign exchange comparisonTue, 02 May 2017 - 12:32 AM