TransferWise Borderless Account

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I've used Transferwise for international transfers and they've been really good, so this looks interesting!
 
Thanks. Time to do some comparisons against my current provider
 
Has anyone taken up one of these Borderless accounts?

I've got the 28 Degrees card for my purchases whilst overseas (can't say I've checked Mastercard's rates, but the lack of a 3% surcharge is a winner for me), but this seemed interesting for cash purposes.

Heading to the USA at the end of July, so have a little time up my sleeve to set it all up.
 
Just bumping this. Has anyone managed to open an account for the debit card by pretending they are in another country. I have UK US NZ and Australian bank accounts and would find this card really useful.
 
VPS said:
Just bumping this. Has anyone managed to open an account for the debit card by pretending they are in another country. I have UK US NZ and Australian bank accounts and would find this card really useful.
Click to expand...

I'm also interested to know if anyone has opened one of these and any feedback that you might be able to share.

My wife is starting to receive a modest income in USD and HSBC will charge $10 per deposit so eliminating that charge will be very useful.
 
i have been using it to receive customer payments in my transferwise euro account.
For the EUR account the account name is mine only "Company name Pty Ltd"

For the USD one it originally was the same however now my account name has some tranferwise prefix on it which some of my customer's banks won't accept.
If they are paying my company, account name has to be only my company name.
incoming USD can only be accepted from certain countries so double check this before using it
 
daft009 said:
i have been using it to receive customer payments in my transferwise euro account.
For the EUR account the account name is mine only "Company name Pty Ltd"

For the USD one it originally was the same however now my account name has some tranferwise prefix on it which some of my customer's banks won't accept.
If they are paying my company, account name has to be only my company name.
incoming USD can only be accepted from certain countries so double check this before using it
Click to expand...

Thank you for a quick response. The incoming USD are from the US so assume that would not be an issue.
 
The problem is you can't open this account in Australia. I was wondering if I used a vpn and pretended I was in the UK whether it would work
 
VPS said:
The problem is you can't open this account in Australia. I was wondering if I used a vpn and pretended I was in the UK whether it would work
Click to expand...

Oh, that's a strange drawback given that they offer an AUD account and Australians can use their normal money transfer service.
 
Mr_Orange said:
Thank you for a quick response. The incoming USD are from the US so assume that would not be an issue.
Click to expand...

then just check the sender's bank will be okay sending to an account name of "transferwise FBO Company Name Pty Ltd"
 
VPS said:
The problem is you can't open this account in Australia. I was wondering if I used a vpn and pretended I was in the UK whether it would work
Click to expand...

Mr_Orange said:
Oh, that's a strange drawback given that they offer an AUD account and Australians can use their normal money transfer service.
Click to expand...

I've just spent some time looking into this account in more detail and it seems as though Australians can open an account according to this page: TransferWise Help | Why can't I get a borderless account?.

This page: TransferWise Help | Why can't I get USD account details?, confirms that Australian account holders can have a USD denominated account.
 
Just to confirm that I have sucessfully opened one of these accounts (subject to verification) for me with a EUR denominated account which will facilitate a funds transfer.
 
I've had a borderless account for USD and EUR for the last 6-8months.
no issues and I'm based in Sydney.

tried a transfer from my citibank no forex account into my transfer-wise account without issues. since then been receiving multiple customer payments into it.
 
VPS said:
Also - has anyone tried the Citibank one - can anyone see any major differences

Citi Australia
Click to expand...
from memory, fees & exchange rates aren't as good.
and i think it'll be an account in your personal name, not company name
 
daft009 said:
I've had a borderless account for USD and EUR for the last 6-8months.
no issues and I'm based in Sydney.

tried a transfer from my citibank no forex account into my transfer-wise account without issues. since then been receiving multiple customer payments into it.
Click to expand...

Agreed, my business has setup bordless accounts in EUr, GBP and USD and we've accepted payments into all of these, am an Austrlaian based business using Transferwise for the past 9months or so.
 
VPS said:
The problem is you can't open this account in Australia. I was wondering if I used a vpn and pretended I was in the UK whether it would work
Click to expand...

You can open the account, I have one, and I have used it, you just cannot get a Debit Card
 
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