The TransferWise borderless account is a new kind of global, multi-currency account. It lets you send and receive money around the world with the real exchange rate – the one you see on Google.
Independent market research says it's up to 9 x cheaper than using PayPal to send money from New Zealand, and up to 7 x cheaper to receive it.
We knew Kiwi customers were keen to use the borderless account, and we’ve been working hard to make this happen. So from today, New Zealand's gone borderless!
This launch is a huge milestone in the journey towards fairer, more transparent charges for sending money across borders. It means that now even more customers can pay and get paid around the world for less.
Anyone in New Zealand can set up a TransferWise borderless account to manage their international finances.
Freelancers and businesses can get one too. You can get paid around the world at the real exchange rate, settle international invoices, and handle payroll with ease.
Here’s what you can do with a TransferWise borderless account:
Send money with the real exchange rate to over 70 countries worldwide, up to 9x cheaper than PayPal.
Get your own international bank details for Australia, the UK, the US, the Eurozone, and New Zealand – so anyone in those countries can pay the local currency directly into your borderless account with zero fees.
Hold money in over 40 different currencies, and switch between them in seconds at the real exchange rate.
There are no sneaky markups or hidden costs. We just charge a low transparent fee, which we always show upfront.
Freelancers and businesses using the borderless account also get some handy tools to help your business thrive:
Sync your activity with Xero, everyone's favourite accounting tool. Track, manage, and sync your finances seamlessly. Learn more about Xero here.
Upload a single file to make up to 1,000 transfers with just one payment. You can run your entire international payroll with a single click – all at the same price and speed as our individual transfers.
Automate payments, connect your favourite business tools, and create beautiful ways to manage your finances. Read more about our open API here.
Our customers are saving over NZ$5.5 million every day compared to using other providers. We’re also helping 150,000 international businesses to send over NZ$900 million every month.
TransferWise is on a mission to expand globally and help even more customers avoid bad exchange rates and hidden fees. And bringing fairer finance New Zealand has a part to play. Here’s what our chairman and co-founder, Taavet Hinrikus, had to say:
“One day anyone will be able to send and receive money, in any currency, from friends, customers or companies anywhere in the world, without worrying about the exchange rate. That’s the vision for the borderless account. Today’s launch in New Zealand is a huge step towards realising that future.”
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