A multi-currency account for travellers, expats and freelancers.
Spend in any currency, receive money for free and send money around the world with your own foreign currency account — on average 8x cheaper than leading UK banks.
TransferWise offers a free multi-currency account to easily transfer funds (send and recieve) bewteen over 50 currencies. In addition the account can create personnal "local" account details in one or more of six currencies/countries :
Great British Pound - account number and sort code
Euro - SWIFT/BIC and IBAN number
US Dollar - ABA and account number
Australian Dollar - BSB and account number
New Zealand Dollar - account number
Polish Zloty - account number
Get paid with your own unique bank details. A bank transfer within a country to an account within the same country is free. Then use your account to send money around the world, paying a fraction of the exchange rates demanded by high street banks.
The TransferWise multi-currecny account comes with a free Mastercard. This can be used like any other Mastercard in shops or ATM cash withdrawl machines.
No transaction fees
No annual fees
Low currency conversion fees.
Free ATM withdrawals worldwide
Free cash withdrawals up to £200 per month.
Spend in any currency, amount converted auromatically
Many people who live or work abroad find they have to make regular recurrent foreign currency transfers, perhaps to meet mortgage payments or manage a pension. While you can use your bank to manage these sorts of transfers, some charge transfer fees which can really add up over the course of the year.
With the TorFX Regular Overseas Payments service you can arrange for transfers to be made automatically every month, at a competitive rate of exchange and on a fee-free basis.
If you don't want to move your money at the current rate but are concerened that it may worsen and wish to control this risk, you can ask us to execute your transfer if the exchange rate deteriorates to your specified level.
This allows you to wait for a better rate, but lock in a worst-case rate should the market move against you.
Forward Contracts can be partiularly useful when budgeting for a future currency exchange as they allow you to fix a rate in advance. With TorFX you can fix the rate up to two years before you need to send or recieve the currency, giving you far greater flexibility and security.
CurrencyFair offers its users the option of the CurrencyFair Wallet. You can add funds to the "wallet" at any time. Then when the moment is right to make your transfer the funds are already disponible; No delay while CurrencyFair waits for payment.
An OFX Limit Order lets you specify an exchange rate. OFX then monitors the exchange rates on your behalf 24 hours a day while the markets are open. When the rate your desire is possible OFX will contect you to complete the transfer.
It's possible with OFX to reserve an exchange rate with a Forward Exchange Contract. Transfers can be booked from 2 to 365 days in advance. The exchange rate at the time of booking the transfer is then locked in place and you do not have to worry about currency rate changes.