Cheaper Money Transfer Service Launches In US

By Dex Tennyson, for 20 February, 2015

TransferWise, a peer-to-peer currency exchange platform operator, on February 17, 2015, announced the official launch of its service in the United States.

TransferWise's international money transfer platform is based on a peer-to-peer model, which aims to give users access to mid-market exchange rates, by matching supply and demand between users.

With the latest announcement, customers in the US are now able to exchange US dollars for any other currency offered on TransferWise's international money transfer platform. According to the company, its platform is eight times cheaper, on average, than sending money abroad using a bank.

The company will be opening its US headquarters in New York City. It aims to add an additional 300 currency routes this year, and now also allows US customers to send money to Brazil, the Philippines, Canada, Malaysia, and Nigeria.

Tags: Banking | Fees | United States | Currency | Expat Services | Expats | Foreign Exchange (Forex) | Money Transfers | Europe |


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