We believe in fairness and transparency. It’s at the heart of everything we do.
So, to make sure we’re building a product that is truly better for our customers, we work with an independent research company to run price-comparison research for us on a regular basis. They look at data across multiple countries, currencies and price points to make sure any price claims we make are fair and accurate.
The research compares us to:
|Banque Postale, BNP Paribas, Crédit Mutuel, Société Générale|
|Commerzbank, Deutsche Bank, Postbank|
|Bankia, BBVA, CaixaBank, Santander|
|Barclays, HSBC Standard, Lloyds, RBS, Santander, TSB|
|Credit Suisse, PostFinance, Raiffeisen, UBS AG|
The research looks at the cost to send money between multiple currencies, including AUD, EUR, GBP, INR, CAD, TRY, PLN, MAD and USD, depending on the country. Because we offer over 1,600 different currency combinations, it’s not possible to compare our fees to the banks on every single route and price point.
In France, the research found that TransferWise is on average 5x cheaper than leading French banks.
In Germany, the research found that TransferWise is on average 5x cheaper than leading German banks.
In Spain, the research found that TransferWise is on average 13x cheaper than leading Spanish banks.
In the UK, the research found that TransferWise is on average 8x cheaper than leading UK banks.
In Switzerland, the research found that TransferWise is on average 5x cheaper than leading Swiss banks.
TransferWise is an electronic money institution, not a bank. Read this article for more details on what that means.
Journalists can learn more about this research by contacting our press team.