What is the TransferWise borderless account?

The TransferWise borderless account is an online account which allows you to hold money in more than 40 currencies. You can make and receive payments from your account, and if you’re a European personal user you can also get a free debit card to spend in any currency around the world.

What are the benefits of a TransferWise account?

  • Low-cost international money transfer – up to 8 times cheaper compared to a bank.
  • You can hold your money in more than 40 currencies and receive payments in GBP, EUR, USD and AUD with zero receiving fees.
  • Get local bank details for GBP, EUR, USD and AUD instantly, without needing a local proof of address in those countries.
  • Apply for a contactless debit card for stress-free spending in any currency, at the real exchange rate.
  • It’s free to open a TransferWise borderless account – and the entire process is done online.
  • There’s no minimum balance and no cost to order a TransferWise debit Mastercard.
  • Switch between currencies for a low fee – between 0.35pc and 2pc of the transaction amount.
  • Always get the real mid-market exchange rate for currency conversions – the one you’d find on Google, with no markup added.
  • Your money is safe with TransferWise. The business is independently regulated by the Financial Conduct Authority (FCA) in the UK, and trusted by more than three million customers globally.

The borderless account is great if you deal with different currencies regularly – if you travel regularly, or you live, work, study or have retired abroad. It’s also a smart option if you’re a freelancer being paid by companies outside of the UK, or a business owner making payments to suppliers that are based overseas.

TransferWise borderless account for businesses

The borderless account for business is a great solution for ecommerce businesses, freelancers  and online sellers who need to make and receive frequent international payments.

You’ll get local bank account details which allow you to receive payments in major global currencies such as euros, and US and Australian dollars, free. Give these bank details to your clients and dodge the high fees associated with international payments entirely.

Is the money safe in the TransferWise borderless account?

TransferWise isn’t a bank, but it’s authorised and independently regulated by the Financial Conduct Authority (FCA) in the UK, just as any high-street bank would be. Under FCA regulations, TransferWise holds all customer funds separately from the money used for the everyday running of the business.

That means that, in the unlikely event that TransferWise should cease to exist, all customer funds are held in a low-risk financial institution, and would be paid back from this account.

Customer safety and security are important to TransferWise – which is why more than three million customers all around the world trust TransferWise to move some £2bn in payments every month.

How to open a borderless account

Ready to see how much you could save using a TransferWise borderless account? Here’s what you’ll need to do:

  1. Create your account. There’s no fee, but you might need to provide some documents to verify your identity to keep your account safe.
  2. Select a currency. Set up balances in any of dozens of currencies, with just one click.
  3. Add money to your account. Top up your account via debit card or bank transfer, or give your account details to anyone who wants to make an international payment to you.

While UK high-street banks fall short in the services they offer Brits who travel or spend money abroad, specialists in international payments cater specifically for these customers.

If you’re sick of sneaky fees added to transactions made abroad – or if the exchange rate your bank offers for international payments isn’t good enough, try TransferWise to see if a borderless multicurrency account can help you dodge the fees and keep more of your hard-earned cash for yourself.

To get free account and first free transfer TransferWise to register 

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