On my journeys through the world wide web I discovered Transferwise today. It seems very promising and I would like to share it with you guys. So what is it?
It is a service which lets you transfer money around the globe for way cheaper as with the usual bank fees and exchange rates. I already signed up for an account and will test it out soon if everything goes according the plan. What is the secret behind it, well Transferwise tries to match your transfer with the transfer of somebody else who wants to transfer the same amount of money in the opposite direction. Practically this means the money never left the country.
It all sounds very complicated but it is easier than you think. There are also an Android and iPhone App available, which let you transfer money on the go. You will just do it as a regular bank transfer or use your debit card and all the magic is handled by Transferwise.
If you travel a lot, this could be very helpful if you would like to pay your host at an AirBnB booking or anything else you can imagine. If you are interested I would recommend you to use this referral link to sing-up. This will give you a free transaction up to 3000 GBP (british pound) and me as well. That means both of us save money.
More questions or you want a detailed description how to do it, leave a comment and I am happy to explain it further…
photo (c) Transferwise