Introducing GBP and EUR Direct Debits

Lars Trunin
09.01.20
3 minute read

You can now set up Direct Debits to pay bills and subscriptions across Europe right from your TransferWise account. And the best part? It won’t cost you a penny (or cent).

What are Direct Debits?

When you subscribe to a service, it’s often easier to pay via Direct Debit. This means companies can pull the money straight from your account, without you lifting a finger.

Whether you’re living in Europe now or it’s where you called home once upon a time, you can still pay bills just like a local would. That phone bill in France, electricity bill in England, or student loan in Spain can all be paid from your one TransferWise account — in just a few easy steps.

Why use Direct Debits with TransferWise?

Because Direct Debits are great! Ok so they’re not that exciting, but they do let you get on with life while things tick along in the background. What’s more useful is being able to manage your international lifestyle from one account. So there’s no need to open a foreign account just to pay those Direct Debits.

Direct Debits notifications

With your TransferWise account you can:

  • check up on which Direct Debits are active
  • manage Direct Debits from your account
  • auto-convert from 50+ currencies to pay for your Direct Debit
  • get a notification for upcoming payments
  • get a notification if your balance is running low

And don’t worry, if your balance is still too low and a Direct Debit bounces back, we won’t charge you anything — it happens to the best of us.

You can also set up a Direct Debit from your business account in a few steps.

How to set up a  Direct Debit

How to set up a Direct Debit from your GBP or EUR balance?

When you sign up for a contract with a company, they might want to be paid via Direct Debit. This means you’ll need to give them your TransferWise bank details. This might be online or part of a larger form.

In any case, you can find your TransferWise bank details when you tap on your GBP and EUR balances. And if you’re yet to open a GBP or EUR balance, open them up and click get bank details — for EUR those are the bank details starting with ‘BE’. Then share away with the company you want to pay. And that’s it, we’ll take care of the rest.

Why are we launching Direct Debits?

In the beginning, we created TransferWise for people sending money abroad. Since then, we’ve helped over 6 million people to not only send, but also hold and receive money in 40+ currencies from around the world. And with the TransferWise debit card, living like a local got even easier — with people getting the real exchange rate every time they spend abroad.

But we soon learnt that there was something missing for our customers to truly live like a local. Enter Direct Debits.

What’s next?

To get the ball rolling, we’re launching Direct Debits for GBP and EUR. That means you can pay for bills or subscriptions in the UK and Eurozone — all from one account.

We’re working hard to add Direct Debits for other countries and currencies.

Learn more about how to use Direct Debits or log in to your account to get started.

TransferWise is the smart, new way to send money abroad.

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