TransferWise launches in New Zealand
Auckland, September 14th: Leading European fintech company, TransferWise, launches in New Zealand today. The company makes it cheaper, easier and quicker to transfer money overseas. Banks and
brokers usually hide their true charges and also put a mark-up in the exchange rate. But TransferWise is completely
transparent and uses the real exchange rate. In New Zealand, TransferWise is typically 4- 6 times cheaper than the banks
and a lot faster.
With over a million customers worldwide, the company serves 645 routes globally and is able to deliver to around 90% of
the world's bank accounts. People around the world are using TransferWise to transfer over NZD 1.5 every month, saving
themselves over NZD 2.25 million every day. Last week TransferWise launched in Japan, and earlier this year it launched
in Brazil and Canada.
Taavet Hinrikus, CEO and co-founder of TransferWise said: “We're very excited to be launching in New Zealand. It's about
time everyone in New Zealand who needs to send money overseas whether they're working or studying had a better
alternative to the banks who have been overcharging and underserving us for decades.
"When we launched five years ago, we only offered transfers between the UK and Estonia. Now we have 645 routes globally
and we can send money to 90% of the world's bank accounts.
“We’re constantly working hard to improving the service for our customers whether that’s by introducing new currencies
or making transfers even faster. This is just the start of the financial revolution. Non-banks now offer better
alternatives to the banks on most services. We’re beginning to realise what else could be possible and how the banking
sector could change forever. In ten years, the sector will look completely different - we won’t use banks like we do
today.”
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