Low cost money transfers – save 90%

January 10th, 2016|

Currency Exchange & Money Transfers
Most traditional banks charge over ordinary folk 5% in hidden fees when transferring from currency to another. The new peer to peer international money […]

TransferWise is Undercutting Banks and Changing How Foreign Exchange is Transferred

September 27th, 2015|

TransferWise was nominated as one of the top 20 innovative companies in 2015 and its aim is to solve the problem of high fees associated with sending and receiving cross border foreign exchange.

Traditionally, using a bank was the only option to send and receive foreign currency, and it is still used by individuals and large […]

TransferWise, Backed by Branson and Others, Preps U.S. Expansion

September 2nd, 2015|

Looking to take some of the fees out of sending money overseas, TransferWise is firing up its New York team for its U.S. expansion.

The London-based company says it is a lower-cost option—compared with banks and other incumbent money transfer businesses—that uses a software platform to pair transactions that are going in opposite directions between the […]

Currency providers’ zero commission claims are ‘phony’ | Money transfer firm warns customers feel ripped off by forex fees hidden in poor exchange rates.

August 4th, 2015|

Currency providers’ zero commission claims are ‘phony’ | Money transfer firm warns customers feel ripped off by forex fees hidden in poor exchange rates.

Firms offer an unfavourable exchange rate to make a profit, but entice customers with offers of ‘0% commission’
Government pledge to bring greater transparency to fees should apply to forex, says Transferwise

Banks and […]

Time to end toxic hidden FX fees – Transferwise P2P Currency Exchange

July 26th, 2015|

Protesters take to the streets in protest against hidden bank charges

International money transfer business TransferWise warns about the dangers of hidden FX fees. In Barcelona, residents woke up this morning to a city-wide alert of “Toxic Fees”. Protesters in biohazard suits clutching beachballs marched down Las Ramblas to the beach to eliminate the threat posed by toxic […]

Peer to Peer Currency Exchanges challenge international banks

May 2nd, 2015|

Peer to peer (P2P) Currency Exchange websites provide customers with a cheaper option to transfer their money international because their rates are crowdsourced and only charge a flat commission of approx 0.5% per transaction, in comparison to banks which usually charge up to 5% plus.

The online P2P currency exchange market place, CurrencyFair, estimates that P2P foreign exchange will provide £250bn of […]