TransferWise was launched in 2011 with the vision of making international money transfers cheap, fair, and simple.
They’re both from Estonia. Taavet was the first employee at Skype, so he got paid in euros. But he lived in London, and needed pounds to pay the bills. Kristo worked for Deloitte and lived in London. He got paid in pounds, but had a mortgage back in Estonia. He needed to pay that in euros.
Every month they moved their money the old way – which wasted their time and money. So they invented a beautifully simple workaround that became a billion-dollar business.
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Each month, they looked up the actual exchange rate on Reuters. Taavet put his euros into Kristo’s Estonian bank account, and Kristo topped up Taavet’s UK bank account using his pounds. Both got the currency they needed almost instantly, and neither paid an extra cent on bad exchange rates or unreasonable charges.
There was no waiting, no stress, and no extra costs. ‘There must be others just like us…’ they thought. The rest is TransferWise.
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In the past 9 years, the TransferWise movement has spread far and wide. Over 8 million happy customers now trust us to move more than US$5 billion dollars every month. (Saving them US$4 million in bank fees every day.) And Richard Branson, and PayPal founders Max Levchin and Peter Thiel, among others, have invested in our vision.
We’ve opened 14 offices, with over 2,200 employees.
And we've added the multi-currency account, which lets you hold over 50 currencies at once and convert them whenever you like.
Apart from all that, not too much has changed.
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There's only one fair exchange rate, and that's the one you get on TransferWise. And the fee for using TransferWise is always upfront. Why? Because finance hasn’t been fair for a very long time, and it’s time for a better, cheaper way of moving your money.
Sending money should be stress-free – no matter how far it’s traveling. So we’ve built a whole team that’s dedicated to keeping your money safe and the process watertight. It’s bank-level security, minus the banks.
We believe that sending money should be as fast as sending an email. So we’ve made TransferWise as simple as logging on, signing up, and sending. Smart technology means money never crosses borders. And most transfers happen the same day.
Why not sign up for exchange rate alerts? Get a daily update on the exchange rate, or set a target exchange rate so that you can transfer at the right time for you.Sign up for rate alerts
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