It's free to set up your borderless account.

It's free to get your international bank details and free to receive money using those bank details.

There's a cheap, transparent fee to convert between currencies – typically between 0.3 – 1% depending on the currencies.

When you convert money in your account it's always with the real exchange rate, and you always see our low, transparent fee up front so there's never any surprises

Read more about pricing

We never inflate the exchange rate. You only pay a cheap, upfront fee to convert currencies. It depends on the currencies you're converting, but here are a few examples:

• from GBP to EUR 0.35%
• from GBP to INR 0.55%
• from EUR to GBP 0.5%
• from EUR to USD 0.5%
• from USD to GBP 0.85%
• from USD to EUR 1%
• from AUD to GBP 0.7%
• from AUD to USD 0.7%

You'll always see these fees upfront in your account, so there are no nasty surprises. And you're guaranteed the mid-market exchange rate — like the one you see on Google.

See conversion fees for all currencies supported by TransferWise

There's a small fixed fee to withdraw funds from your borderless account to another account in the same currency.

This is the lowest we can charge to cover costs, and we're committed to getting the fee down over time.

See same currency transfer fee by currency

TransferWise is an authorised Electronic Money Institution independently regulated by the Financial Conduct Authority (FCA) in the UK.

This means we're required by law to keep your money safe by storing it in a low-risk financial institution - in Europe this is in our UK account with Barclays, in the US this is in our US account with Wells Fargo.

These accounts are reserved for customer money, this means your money is kept in a separate account from the money we use to run the business.

In the unlikely event TransferWise ceased to exist, your money would be paid back from this account, ie from Barclays or Wells Fargo, however it is not covered by the Financial Services Compensation Scheme (FSCS) and therefore is deposited at your own risk. You also cannot earn interest on the money in your borderless account.

Millions of customers trust TransferWise with their money. We move over £4 billion every month, and we take the safety and security of your money seriously.

The TransferWise debit Mastercard is issued by TransferWise Ltd under license by Mastercard International Inc. Mastercard is a registered trademark, and the circles design on the card is a trademark of Mastercard International Incorporated. TransferWise is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 900507, for the issuing of electronic money.