YTranslations is a dynamic agency with employees and clients in the UK, US, Romania, and all across Europe. It’s full of young talent who translate marketing, creative, and technical content. They’re “linking businesses to the younger generation using just the right words.”
As a company full of savvy millennials, Alexander Zaciu, Director of Project Management, knew YTranslations needed a quick and cost-effective way to pay its people. And with a similar mission of trying to make service fast and fair, TransferWise was the full-service solution they were looking for.
“When we first set up our business, we used bank transfers and PayPal, but we quickly realised we needed an alternative after just a couple of months. We hadn’t transferred much in that short period, but we had already lost around £200 in fees before we switched.”
PayPal can charge over 2% to get paid in a different currency, and markup exchange rates up to 5%. And for companies like YTranslations that need to frequently move money across currencies, losing up to 12X on each payment really added up.
“I found TransferWise on Google and, after watching one of their video presentations, I registered immediately.
“We now use TransferWise for all our international payments as their exchange rate is unbeatable – in this year alone we have saved over £2,000 in fees. I like the transparency of fees and the speed. Transfers can clear in two hours, when it sometimes took two days with other providers.”
“We use TransferWise to pay employees and freelancers, and for inter-company transfers.
“Thinking back to my experience using banks, I found using TransferWise more user-friendly – email notifications keep us updated, and being able to make payments using my card is convenient."
“As a start-up company, we can also relate more to TransferWise than other providers. It’s great to be able to use an innovative company that are trying to make their service fast and fair – as that’s what we’re trying to implement here at YTranslations.”