TransferWise announces its latest feature: millions of account holders will now be able to send domestic as well as cross-border transfers instantly to their phone contacts who also have a TransferWise multi currency account.
TransferWise’s new feature eliminates the archaic reliance on bank details to make international transfers. Now, using just a phone number, TransferWise customers can send domestic as well as cross-border transfers instantly between themselves in more than 50 currencies.
The year’s 2020. You need to pay a colleague back for a dinner you shared in London. But she’s in Spain. And you haven’t got her bank details, let alone an IBAN you can send from pounds to. All you’ve got is her phone number. Surely there’s an easier way to pay?
You guessed it — there is. From today, all TransferWise app users can send money to phone contacts also on TransferWise (you’ll both need to have balance open too). This means you can send to family and friends — and anyone whose number you have — without faffing about for their bank details.
Just sync your contacts to TransferWise, then send money straight from the app. Choose from 50+ currencies, and the money’ll arrive in seconds.
Domestic transfers between TransferWise users are free
That means it’s free to send the same currency to friends on TransferWise. Make sure you’ve both opened a balance first. And if you’re sending to a different currency, you’ll pay the low conversion fees we’re known for.
Never any fake exchange rates or sneaky markups.
Transfers to friends on TransferWise are now instant.
Transfers between TransferWise users should arrive in seconds, even on weekends. Be that good friend who pays back their share for dinner, without needing a “friendly reminder”.
Receive in 50+ currencies with no bank details
As you can send to over 50 currencies, this means you’ll be able to receive them too. And yes, again, you don’t need to give anyone your bank details.
So, say you live in New York and your brother in Sydney owes you for a present for mum, but he’s only got your phone number. No routing number? No problem.
He can sync his contacts with TransferWise and send dollars in instant. And if you’ve not opened a USD balance yet either, not to worry — we’ll do that automatically when the money comes in. All before you’ve had your breakfast.
Full Romanian version of the story – click here
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: