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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.

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Delta2113

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

No sign off it so far for me.

Delta2113

If a Direct Debit bounces Transferwise won't charge.

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

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

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.

Evd-Burner

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

knealecat

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

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.

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

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

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

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. "

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.

reni10

Zardoz wrote: »

I have one ,got it recently.

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

The J Stands for Jay

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

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.

Delta2113

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

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

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.

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).

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.

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?