As our partnership with Oxfam picks up steam and the donations come rolling in, it’s interesting to take a look at just how much money is lost on hidden transfer charges to some of the world’s developing nations.
Oxfam recently posted an infographic (below) that highlights the staggering figures that India, China, Mexico and the Philippines are estimated to lose every year. It’s possible it’s actually worse - they state ‘up to 4% often taken by British banks and traditional money remitters in fees’, when we know it can be anything up to 6%. TransferWise charges 0.5%, and while we don’t reach all the places on this map quite yet, we’re getting there!
If you would like to help Oxfam fight global poverty, now you can donate 1p out of every £10 you transfer by visiting transferwise.com/oxfam.
You save so much with TransferWise, so why not give a little to those in need.
Announcing the partnership of Xero and TransferWise, which gives SMBs in the UK an easy bill payment solution through Xero
We’ve just finished Q3. It’s time for an update on how much closer we’ve got to making our mission of Money Without Borders a reality.
Our mission has become irreversible, the company financially independent, and adoption continues to accelerate. Thank you - TransferWise customers - for...
Eight years in, it’s still early morning for TransferWise. What started as a product to help consumers save when sending money abroad, now includes serving...
We’ve just finished Q2. So it’s time to update you on how our teams have made progress on the TransferWise mission over the last three months.
On 5 November, MEPs voted to bring more transparency to international payments and make finance fairer. We brought players from the tech community together...