By Taavet & Kristo, TransferWise co-founders
A few years ago now, we found a simple solution that cracked a problem we both had.
We’ve told the story many times over — we found that explaining how we invented TransferWise helped people understand why they might need to use it.
You — the TransferWise community — are the people who listened. Perhaps you heard it straight from us, our team, or from a friend of yours who’d already found our platform. There are well over a million of you now. And that’s a number we’re incredibly proud of, and utterly humbled to write.
Our guess is that you’re on TransferWise because your life has something global about it. It’s 2017. Of course it does. Feeling global is second nature for so many people. You’re connected to the other side of the world like it lives next door. But still, somehow, your bank isn’t keeping up.
Money transfer’s one thing. But there’s more to fix — old-fashioned bank accounts only work properly in one country. They only hold one currency. And when you try to use them across borders, they overcharge you. Or break completely.
That’s why we’ve been busy building something that might solve a few other broken bits of the world’s financial system. Today, for the first time, you can try out what we made.
It’s called the Borderless account.
Instead of being local to one country, the Borderless account works just like a local bank account in many different countries. It’s built the way the world works now. Interconnected. Where the winning businesses are the ones whose ambitions go beyond national borders — in pursuit of talent, sales, and goods. It’s hard to do business outside your home market, so we hope the Borderless account helps you feel a little more local in the places you’re not.
You get local bank details in the UK, Eurozone and U.S., and soon, you can get them for other countries, too. So you can tell your American client ‘just pay my U.S. account’. You can hold money in 15 different currencies and switch funds between them instantly. That means you can make future payments to your Dutch supplier right from your Borderless account.
Our aim is to make it available for everyone, everywhere. But to start, it opens for businesses and freelancers, with more and more to come for more and more people. We can’t wait to see how you put it to use, and if you find it as useful as what we built (with your feedback, help and evangelism) to replace old-fashioned money transfers.
What we know for sure is that we designed it with the same values. No hidden fees. Complete transparency. Real exchange rates. World-class security. And a commitment that it’ll get faster, easier and even cheaper.
So now over to you. Go try it. And tell us what you like and don’t, so we can make it better.
Thank you for being part of this.
Kristo & Taavet
Transfers are now cheaper: 1. If you send from USD or GBP to anywhere in the world, or 2. If you send from anywhere in the world to any of these currencies i
Helló and isten hozott to TransferWise, Hungarian bank details. Whether you’re in Buda or Pest, Bangkok or Pisco, you can now receive forints straight into...
We are thrilled to announce that our customers in Japan can now open a multi-currency account to receive money for free. What is a multi-currency account? The...
Get your own bank details to receive lei — just like having a Romanian bank account. Salut and bine ați venit to TransferWise, Romanian bank details. You can...
Another day, another accounting tool synced with TransferWise. FreeAgent has joined the ranks of accounting tools you can now sync with your TransferWise for...
Today is an exciting day for Swiss consumers and for better international banking in Switzerland. For the first time, we’ve brought TransferWise for Banks,...