TransferGo Steps Up Competition With Free International Transfers

11 de Octubre, 2018

Tiempo estimado de lectura: 1 minuto

Customers transferring money internationally will not be charged fees and will only be required to pay interbank foreign exchange rates.

In contrast to its premium service, which allows customers to make transfers instantly, the new service could take up to three business days. The company has accrued over 700,000 users since its launch in 2012, and offerings of this kind are likely to help it expand this base further, while piling pressure on incumbents and other fintechs in the space. Yesterday, we reported leading cross-border transfer fintech TransferWise is adding a fixed fee for transfers from its borderless account to other accounts, while typical costs for cross-border transfers are around 7%. TransferGo’s free service could push competitors to slash prices to keep up.

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