Transferwise Borderless Account

Yggr of Asgard

Transferwise has launched a new Borderless Account:

https://transferwise.com/borderless

It's giving you a dedicated account in UK, US, € Zone (own account numbers not common account).

There are some fee's like withdrawing to an account or loading the account with credit cards, otherwise the same transferwise fee's apply to multi currency transfers.

As it gives you a US ABA/Sort code this might be especially interesting for those who receive funds from the US.

newwan

Yggr of Asgard wrote: »

Transferwise has launched a new Borderless Account:

https://transferwise.com/borderless

It's giving you a dedicated account in UK, US, € Zone (own account numbers not common account).

There are some fee's like withdrawing to an account or loading the account with credit cards, otherwise the same transferwise fee's apply to multi currency transfers.

As it gives you a US ABA/Sort code this might be especially interesting for those who receive funds from the US.

I'm emigrating to Canada next week and just used transferwise to bank tf some money to my Canadian account. Looking forward to see how it goes! Looks to be about 50 to 100 eur cheaper than getting exchanging the currency in aib and depositing it myself...

Only did a tenner this time as a test. Will do a few grand later this week if it goes ok...

I don't know anything about the borderless account tbh. Is that much different?

soirish

Thanks OP, will give it a go.
For outgoing transfer, will the sender be the account holder or Transferwise? Will be handy for Revolut top-up.

Yggr of Asgard

Unfortunately outgoing payments are shown as sender "Transferwise Ltd" at the receiving account.

So the combination with Revolut will only work if you have the Revolut local UK bank account number or the new € IBAN (however I have not tested the IBAN with Transferwise, so I'm not sure if they are accepting it yet).

Delta2113

The TransferWise card is currently available for all borderless account-holders in the UK and Europe. At the moment, we can’t offer cards to those in Ireland, Greece or Norway.

Evd-Burner

Delta2113 wrote: »

The TransferWise card is currently available for all borderless account-holders in the UK and Europe. At the moment, we can’t offer cards to those in Ireland, Greece or Norway.

Where did you get this information from?

Delta2113

https://transferwise.com/help/article/2935419/transferwise-debit-mastercard/how-do-i-get-a-transferwise-debit-mastercard

Zardoz

Delta2113 wrote: »

The TransferWise card is currently available for all borderless account-holders in the UK and Europe. At the moment, we can’t offer cards to those in Ireland, Greece or Norway.

I have one ,got it recently.

The J Stands for Jay

Would the difference between this and revolut be the ability to receive payments from non SEPA/UK bank accounts?

reni10

Zardoz wrote: »

I have one ,got it recently.

How did you get the debit card if you are based in Ireland?

Zardoz

reni10 wrote: »

How did you get the debit card if you are based in Ireland?

I got an email about it saying they were offering it to people .
I just went into my account and ordered it then ,to my address in Ireland.

As you may have seen in the news, we're inviting private groups of users to get a TransferWise debit card, and we’d like you to be one of them.

IQO

Received an email today that they're now fully rolling account the account in Ireland, saying "Hello Ireland. The card is here ��"

https://transferwise.com/ie/borderless/

The wording on that page is still the same as before, "with the exception of Ireland, Greece and Norway.". Emailed them now and it they again said Irish customers can order the MasterCard:

"It is actually possible to get our debit MasterCard in Ireland as your address is in the same country.I also went through your account and saw that in order to get the card, you’d need to create a Borderless account with us first.To create the Borderless account, please click on this link and go through the following steps:- login in to your account and click on balances- add a balance, and then top up the account with 20 GBP. After top up has been completed, you will then be able to order the card.Please keep in mind that the 20 GBP or equivalent in different currency will be available in your borderless account as the card order is free.In case you have any further questions, feel free to reach me and i’d gladly assist you."



edit:

asked them to update the above page and now got the following response (very quick, in 10 minutes, N26 can learn something from this):

"You’re indeed correct about that. I’ve notified the relevant team responsible for updating this information on our website, and hopefully it should be updated very soon.
And thanks for bringing this to our attention as it sure helps us to improve. "

Dardania

I've used it for a few weeks - it works grand, although the interface is a bit confusing. It's not as easy to distinguish the activity on the account from each other, and when you try get a "quote" it creates a blank unfinished transaction which just clogs up your transaction list.

Other than that, it is so powerful in terms of interactions with other instituions. Has all the topup options (like SOFORT, iDEAL, debit/credit card, IBAN etc.), and it certainly works as a debit card.

Anyone else have questions on it, shout

mac.in

Can we upload money into the TW account from Debit Card? The 'help' section says we can in deed.

But today, I couldn't select the 'uploading from debit card' option; the option was not highlighted which meant I couldn't select that option. There was a note under that that I can't upload it untill I transfer the money for the first time from my own bank account. But, I have already transferred the money from my own bank account yesterday and it's already been credited into the TW account.

Any help in this regard? Thanks.

Dardania

mac.in wrote: »

Can we upload money into the TW account from Debit Card? The 'help' section says we can in deed.

But today, I couldn't select the 'uploading from debit card' option; the option was not highlighted which meant I couldn't select that option. There was a note under that that I can't upload it untill I transfer the money for the first time from my own bank account. But, I have already transferred the money from my own bank account yesterday and it's already been credited into the TW account.

Any help in this regard? Thanks.

All I can say is I performed initial transfer from bank account, and then tried debit card, and it all worked.
Some other issue?

mac.in

Dardania wrote: »

All I can say is I performed initial transfer from bank account, and then tried debit card, and it all worked.
Some other issue?

It didn't happen to me. Finally I popped out an email, later which I was made available debit card payment option.

knealecat

Do you have to pay the Irish stamp duty for the card.

Evd-Burner

I have the card about 6 months and haven't paid anything.

Delta2113

knealecat wrote: »

Do you have to pay the Irish stamp duty for the card.

This would be the 12 cent charge -I would also be interested if people have been charged.

I left N26 because they didn't even understand what this was and how to correctly charge for it.

Revolut charges so yes be interested in Transferwise.

Delta2113

To start using TransferWise with Google Pay, all you need to do is add your TransferWise debit Mastercard® to your Google Pay wallet. Open your Google Pay wallet and simply snap a pic of your card with your phone camera or manually enter your details.

As usual, your transactions will appear in your TransferWise activity list, your balance will be updated instantly and you’ll receive a notification every time you make a payment. So you’ll be able to use TransferWise like normal, but with the added convenience and extra security that comes with Google Pay.

Delta2113

Direct Debits from the GBP and EUR balance (if your IBAN starts with BE) are available and FREE.

I have a DE IBAN which at the moment don't support Direct Debits.

Delta2113

If a Direct Debit bounces Transferwise won't charge.

Delta2113

Anyone with a DE IBAN get issued with a BE IBAN?

No sign off it so far for me.

advertsfox

Delta2113 wrote: »

Anyone with a DE IBAN get issued with a BE IBAN?

No sign off it so far for me.

Yes mate I got mine about 2-3 weeks ago.

Delta2113

Just got an e-mail last Friday with my new BE IBAN.

Zardoz

Transferwise, now rebranded as Wise, now have virtual debit cards.
You can have 3 virtual cards along with a physical card.
I can see alot of people migrating from Revolut now.

Greenlights16

Would you say Wise (as it's now known) is better than Revolut?

I exchange a lot of Euro to sterling and vice versa regularly, and I keep 3 apps on my phone - Currency Fair, Revolut and Transferwise

CurrencyFair app is sh#te, not very user friendly, but first few transfers are free i think, only done one transaction of about £2,000GBP (from EUR account)

Revolut, never had any issues but sometimes doesn't work with online transactions or rejects the payment.

TW - I have to say they always seem to have the best rate. App is quite good, haven't spent enough time on it, Revolut app still probably marginally better overall. Revolut has a lot of crap on it most people wouldn't use though.


I only have a Revolut card (bought one extra for herself when we go on holidays) but would consider getting a Wise card now too.

Zardoz

Greenlights16 wrote: »

Would you say Wise (as it's now known) is better than Revolut?

I exchange a lot of Euro to sterling and vice versa regularly, and I keep 3 apps on my phone - Currency Fair, Revolut and Transferwise

CurrencyFair app is sh#te, not very user friendly, but first few transfers are free i think, only done one transaction of about £2,000GBP (from EUR account)

Revolut, never had any issues but sometimes doesn't work with online transactions or rejects the payment.

TW - I have to say they always seem to have the best rate. App is quite good, haven't spent enough time on it, Revolut app still probably marginally better overall. Revolut has a lot of crap on it most people wouldn't use though.


I only have a Revolut card (bought one extra for herself when we go on holidays) but would consider getting a Wise card now too.

I prefer Wise.

Have had Revolut lock my account a number of times looking for bank accounts and pay slips, something no other Fintech or bank has ever asked for.
Wise customer support is far better.

ash2020

I've been using transferwise *wise the last 6 or 7 months I have it linked up to my PayPal account , I've noticed this week transferwise *wise cancelled my direct debits that I had signed up with paypal without notice

The 1st I learned of it was when paypal sent me an email saying my monthly direct debit has failed due to insufficient funds with my bank account.

I logged on to wise and the balance is approx €2900

I contacted the *wise customer care and spoke with a live agent
Who replied they will be in touch by email with 2 working days

That way 5 day ago

I popped the question into Google search

From what I gather everything with transferwise can be going great for a number of months, then all of a sudden the account gets frozen and the balance cannot ale withdraws or make transfers for absolutely no reason!

Upon sign up, bank details submitted, selfie photo uploaded all going smoothly and a couple of transactions later everything comes to a halt without a reason

Has anyone encountered anything like this before?

lordsheepface

Does anyone have a way to contact them if I cannot login to an account? Their help section keeps saying to login for support. They don't seem to have an email address? Thanks

Ten Pin

Can virtual cards be used without getting a physical card delivered, thereby avoiding the fee?

Zardoz

Ten Pin wrote: »

Can virtual cards be used without getting a physical card delivered, thereby avoiding the fee?

Yes

Ten Pin

Yes

Can virtual card be generated via the website or is the app required?

Zardoz

Ten Pin wrote: »

Can virtual card be generated via the website or is the app required?

I've only done it on the website.

Quackster

Zardoz wrote: »

I've only done it on the website.

Not seeing any virtual card option in the app or on the website. Only an option to pre-order new Visa debit card for €7.

Spocker

Quackster wrote: »

Not seeing any virtual card option in the app or on the website. Only an option to pre-order new Visa debit card for €7.

What version is your app? On Android mine is 7.3.4 and I created a virtual card a couple of weeks ago

Quackster

Spocker wrote: »

What version is your app? On Android mine is 7.3.4 and I created a virtual card a couple of weeks ago

7.3.4

Is it a MasterCard? Maybe they're no longer available as Wise seems to be switching to Visa.

Spocker

Quackster wrote: »

7.3.4

Is it a MasterCard? Maybe they're no longer available as Wise seems to be switching to Visa.

My existing physical card is a MasterCard and the virtual card is a Visa

Ten Pin

I've only done it on the website.

If possible, can you post the link to the webpage for ordering virtual cards?

Yggr of Asgard

Ten Pin wrote: »

If possible, can you post the link to the webpage for ordering virtual cards?

Log into your wise account.
Click on Cards on the left menu
Scroll down past the option for your physical card
Find "get your card"
Click on "Get Virtual Card"

Quackster

Yggr of Asgard wrote: »

Log into your wise account.
Click on Cards on the left menu
Scroll down past the option for your physical card
Find "get your card"
Click on "Get Virtual Card"

Nope, nothing under Cards except the option to order a Visa debit card for €7.

Zardoz

It might still be in Beta mode perhaps, only for certain users.

Ten Pin

Is it possible to add less than 20e initially via bank transfer to check that it works before adding the rest?

It might still be in Beta mode perhaps, only for certain users.

Maybe...that's why I wondered what the URL for virtual card order is. The URL for the physical card is...

https://wise.com/borderless-account/onboarding/card-order/form?cardProgram=VISA_DEBIT_CONSUMER_EU_1_PHYSICAL

...if there's a different one for virtual card then it might allow ordering one even if not shown in menu.

Greenlights16

Anyone transfer €EUR to £GBP regularly?

I will need to transfer chunk of euros salary to sterling monthly soon and I am weighing up between Wise, Revolut & CurrencyFair.

It's hard to know with Wise what they charge, is it set as a fixed fee each time? eg €1000 at the moment incurs about €10 charge.

and what limits are with the standard account monthly before you get charged even more. Revoluts free account is upto €1000 per month

Meeoow

Greenlights16 wrote: »

Anyone transfer €EUR to £GBP regularly?

I will need to transfer chunk of euros salary to sterling monthly soon and I am weighing up between Wise, Revolut & CurrencyFair.

It's hard to know with Wise what they charge, is it set as a fixed fee each time? eg €1000 at the moment incurs about €10 charge.

and what limits are with the standard account monthly before you get charged even more. Revoluts free account is upto €1000 per month

You can change from fast transfer to low cost transfer on wise. The charge is 4.58 on 1000 euros. I think its a % of the transfer. I use them regularly, and never had any bother.

Greenlights16

Meeoow wrote: »

You can change from fast transfer to low cost transfer on wise. The charge is 4.58 on 1000 euros. I think its a % of the transfer. I use them regularly, and never had any bother.

Thank you. Yeah FWIW, I used Wise for transfers while I was in Australia and found them brilliant. If they had a next level account where you could pay a few bob extra I’d probably pick them over Revolut. Plus I’ve found they tend to give the best rate, either them or currency fair . Just a shame currency fair is terrible to use

Greenlights16

Apologies folks i am double posting, posted this on Revolut thread also but was looking an answer before monday!!

Very confused tonight if someone can help me out

I am trying to transfer €30K euros savings from my AIB to my AIB northern ireland.

Via transferwise or revolut (revolut rate seems to be 0.876 vs Wise 0.868?) i gather that i have to make an international payment from my AIB online banking to either revolut's lithuanian IBAN or Transferwise's Belgium IBAN.

Now my question is, are AIB going to charge me? They give me options of "standard" or "urgent". When you click into "more info on fees" they don't say a thing about how much it is.

I am looking to act fast on this now as the sterling has fallen for 3 days in a row up until market close yesterday evening, there's no guarantee it won't bounce back monday when UK opens some sectors of economy.

Thanks in advance. Rang AIB today at 3 different times, customer service, card payments line, all still not answering because of "COVID" :pac: :rolleyes: :rolleyes:

Yggr of Asgard

Ten Pin wrote: »

...if there's a different one for virtual card then it might allow ordering one even if not shown in menu.

https: //wise.com/borderless-account/onboarding/card-order/form?cardProgram=VISA_DEBIT_CONSUMER_EU_1

Ten Pin

https: //wise.com/borderless-account/onboarding/card-order/form?cardProgram=VISA_DEBIT_CONSUMER_EU_1

That brings up a delivery address form so presume that next step is payment for delivery?

Is it possible that it needs the 20e account balance before they allow ordering virtual card?

Yggr of Asgard

Ten Pin wrote: »

That brings up a delivery address form so presume that next step is payment for delivery?

Is it possible that it needs the 20e account balance before they allow ordering virtual card?

For me that orders a new virtual card.

I don't know if you need to have 20€ top up or even a physical card for it to work.

Also, as virtual cards cost nothing it should not ask for delivery address/payment.

I am both verified, and I have a physical card, so maybe that is required?

Ten Pin

For me that orders a new virtual card.

I don't know if you need to have 20€ top up or even a physical card for it to work.

Also, as virtual cards cost nothing it should not ask for delivery address/payment.

I am both verified, and I have a physical card, so maybe that is required?

I'm verified with zero balance, no problem adding 20 but don't need a physical card, just the virtual one.

An earlier post suggested it should work without needing a physical card...
https://m.boards.ie/vbulletin/showpost.php?p=116800269&postcount=32