TransferWise Borderless Account — Send, receive and organize your money without crazy fees

Smart move, @taavet and team. Super useful for freelancers/remote workers. With all this talk about blockchain, I'm almost surprised Transferwise doesn't support cryptocurrencies yet. 😁

OMG! I've been talking to no less than five banks since last week to open an USD account in France. Their fees were incredibly high (and I'm not even talking about conversion costs.) I was looking for a safe alternative; I know TW, I'm opening a borderless account right now.

Awesome news and congratulations @taavet @kaarmann Do you have any plans adding a card option to it, would be great for travels as well?

We signed up to this, this morning. As a UK SaaS business who charges mainly in USD I've worked out we should claw back about 1% of our MRR a month by using this (versus Stripe handling conversion) Such a great product and so easy to get setup

Will definitely be using this for freelancing. This would be a perfect accompaniment to Stripe's Atlas program as well. Much more versatile than the SVB account they give you.

Having a lot of business in the US but living in Finland in the EUR zone, I've long desired a US bank account to avoid massive fees. I visited US banks in San Francisco last year to see if I could open a local bank account for my company. Turned out it's impossible without having a permanent local office. I just had a call this week with the first Finnish bank I noticed could help with opening a US bank account. "Prepare for a LONG process," they said. Didn't even know what it'd cost. Well, I already had a Transferwise account. Today, I pressed one button and <5 seconds later I was looking at my own US bank account info. BOOM. LOVE you guys.

Tip of my hat for Estonians once again leading the industry to build a smooth customer UX with a disrupting product concept. (Skype, Starship, Smartpost to name a few). Should probably relocate there to get in the action

This is actually awesome. I wish I had that two months ago when I did an internship in a UK company and they told me they could only process payments to UK accounts. Had to ask a third party to make the transfer…

Great idea, awesome product. Couldn't find any details pertaining to country availability - is there a link to this info?

This is cool. Now transferwise has something all the other payment start ups don't have. Offer it for businesses and you're golden. This is also a big move towards banking. Curious how this will evolve in relation to other start ups in that field like n26

"Borderless accounts aren’t available in your location yet" Before signing up, getting my personal information and business information, this pretty crucial bit of usability would have been nice to know.

As a UK SaaS business who charges mainly in USD I've worked out we claw back about 1% of our MRR a month by using this (versus Stripe handling conversion)

Pros:

Big savings to be made compared to letting your payment provider make the conversion.

Cons:

Payments go through at the local time of the currency, which can lead to a day lag in getting our cash back into GBP

TransferWise have been an incredible resource for me having moved around a fair few times in the last few years. This is going to be seriously awesome for companies/individuals that need to manage their money around the globe! 👏 👏 👏

This is great for people with regular multiple locations and transactions. Well done Taavet, Kristo, team TW.

The biggest issue for me, as a digital nomad, is to withdraw money in foreign countries with different currencies without paying abusive fees. If Transferwise #Borderless gave me a physical debit card and allowed me to withdraw all those currencies with good feeds, THAT would be really awesome!

Great if your country is supported. Hope they add more soon to be truly borderless! (I'm looking at you Slovenia and Guatemala!)

This is excellent. Look forward to using it! Btw, in the signing up process it would be great if it would be possible to search your phone area code instead of having to scroll through the whole list. Keep up the great work guys :)

Using Transferwise for over 2 years and its always awesome in every step of transferring process. Can't imagine moving to something else. Thank you @taavet!!

I'm in the United States and just received a "Borderless accounts aren’t available in your location yet". Am I missing something?

Very cool, but very annoying UX telling me it's not available in my country only AFTER I've filled up all my personal details (name, address, etc). Could have been easily solved by letting me choose my location first.