Any of you using TransferWise?
 

I've heard about them for a while but just did some research on them. Interesting company. Doing extremely well and looks like they would be a good fit for this industry. They just got valued at $1billion. Definitely making noise and doing it the right way (giving more back to the customers). Have any of you used them?

If you haven't heard of them take a look (referral link attached) https://transferwise.com/u/4d2a4

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Cool they have an app to transfer money with a 4.6 star rating. I installed it out of curiosity and it's pretty slick!

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I used them and they are great, saved me lots :)

Banking is being commoditized.

• Wire services
• ACH services
• P2P lending
• Kickstarting

And maybe to become fossilized or with a revised and reinvented footprint -- time will tell.
Online tellers with cameras and voice (maybe with customer located scanning verification) are possible in the near time future.

Eventually there may be a worldwide ACH/SEPA like clearing system in answer to these services. I see them as needing to adapt to that as well as the banks.

Richard Branson has money to burn -- he's probably just speculating with a tax angle.

I looked at their transfer fees & didn't notice much difference between Natwest & my spanish account Sabadell

I'd like to hear more about them, considering i'm always transferring money from Britain & Spain.

What was the difference between your banks current conversion rate and the TransferWise conversion rate? What was the difference in fees?

Welcome to the 21st Century: figuring out ways to scrape 0.000000001% from transferring money around.

We are all doomed. LOL

Far from .000001% it's substantial especially on exchange rates

Some of the innovation happening online atm is fantastic!

I'm also a big fan of GoCardless.com, another great idea that saves businesses money

Oh I know. I meant in general, the "business" of shuffling money around and taking a slice for doing so. :)

For this they do a great job. Impressive.

I would love to get fucked by Richard Branson...sorry that was off topic but I just had to share that.

theyre awesome. No problem encountered by far :)

If I was to take out 400euro from a cash machine in Spain using Natwest, about 300 gbp, It would cost 5 or 6 gbp & if I spend 100 dollars in a card payment to the US it's about 1.49 variable.

It seems the higher the amount the less Natwest charge. They're a good bank, always trying to help.

Sabadell is a new account, so I haven't made many payments overseas as yet :2 cents:

Good Money transfer. :thumbsup

I can only recommend them.

Is anyone making affiliate payments with them?

Not sure what they do.... But I know Branson has a SpaceX program :)

Interesting

Bump
 

I would to know as well.

are they adult biz friendly?

Two thumbs up. And they are not in the affiliate payment business...they are in the money transfer business, although you can have your affiliate program send your wires to them, and then transfer to your bank and save an average of 3% over the best bank fees.
They base their exchange rates on the mid market rates, giving you more for your money.

I know it's an old thread but I have been using them for a while and they are great. Best rates by a mile...

A little inconsistent with timings. UK to New Zealand is normally a few hours but can take up to 36. That can be a bit frustrating but I can put up with it.....

Nop, they hate adult. They even google company name in your transcation list and if they found out adult connection, your account is toasted.

They dont really "google" it. To complying with the requirements of GDPR and KYC regulation, they use a combination of Open Source Corporate Registers, National Corporate Registers and services like Gemalto’s ID document verification.

not really - i have a company account with them since a couple of years and we do payments to some publishers and receive payments from advertisers also. but i believe that when your company is called fuckmybitch ltd they will not like it.

That is what was posted by many posters before in various transferwise threads. It was quite popular option for withdrawing money fast from paxum till paxum banned it. If you still have your account, that could be result of luck, or simply due your occupation which is traffic selling, something with what paypal which is very strict fine, so they could be fine as well.

^^ this. ^^ I guess same apply to my bank. " Internet Service " will do the trick ... we just don't talk about Adult stuff with them.

Just thinking out loud :) is it possible Paxum Offshore wired make it Transferwise to investigate where the money coming from AKA Adult exclusively this could be the reason some got their account close at transferwise ? Paxum is Mostly adult no ?

Make sense. We accept transferwise too BTW.. eh eh eh :winkwink:

i don´t know why one should need paxum to use transferwise
transferwise have same options as paypal - and even cards and fast transfer in any account to other currency accounts.

transferwise is not really strict about adult but the problem is that many adult workers do not really have the transparency they need.

if you see how hard it is to even open a simple bank account in this days somewhere I would not say that transferwise is even less difficult.

Yes possible how unusual way of how paxum is dealing business was too much for them.
And i do know one network which uses transferwise for receiving wires, they dont use anything else for wire.

People used it as a way to get fast and cheap money, as only alternative was to use wire to get money out of paxum, while with transferwise people were able to use ETF withdraw which is cheaper and faster.

I am not sure to what timeframe Klen is referring to but in the past 2 or 3 years paxum changed from a US based company to a european based company.

if you work with paxum as a european based company or individual it is today MUCH easier and cheaper to work with them.
in the first years paxum was nothing official than a simple service. as far as I know they are now kind of a bank/financial service under FINTRAC regulations.

https://www.paxumbank.com/

so the "was" and "is" are very different things.

thats true - they have a card but it is limited to 250 all 30 days for ATM cash withdraws.
but if you want to pay with the card it is like every debit card with no limits.

Not in Canada or USA. But as you say Euro base company thats seems to be right on. I read around people base in Europe use card eft ACH etc.. with no issue at all. Wire worked for me in Canada without issue, its just the fees and no damm card :1orglaugh

I've been using them for over a year sending money to my brother-in-law in Mockba. Cheap, easy and reliable.

I think PaxumBank.com is a separate project of theirs.

People with a regular Paxum account have absolutely no relationship with Paxum Bank.

There's other threads on this.

They don't take adult and they do look research your company.

There's other money transfer services that are like them, cheaper, and have been around longer (and no, I'm not referring to Western Union or Moneygram).

Do these guys give account details for bank account to add money on their service? I mean paxum. Can I withdraw money using BankWire to this financial service?

The cool thing is you do an international transfer.

Anybody do paxum<-->transferwise?

I sed some times last year and everything was perfect

Stranded here at Indonesia, I use transferwise in weekly basis for bank tranfer of my bank in Europe

I use for almost the same exact situation. Works perfect. And now is much faster than ever :thumbsup

I've used it a few times, works well. Also you can setup a bank account number to receive funds in different countries. I'm in Canada so it's sometimes easier to receive funds through them using a US or euro account number rather than all the steps for a normal bank wire

They just rejected over 25 Payment as i forget to change Deutsch IBAN TO NEW Belguim IBAN and i asked them to reclaim those payments and they statu its all my falut that i haven t changed IBAN so now i delivered serivce to 20 member and haven t get any penny back since all payment been returned.

Thier Cutsomer service is ZERO !! LAST TRANSCATION I RECEIVED **** EURO THEY ASKED FOR SELFI. I Sent 3 selifes and they rejected them all, i sent another 5 selefies and still rejected, i sent 10 selfies and again rejected and i emailed them a very nasty full of shit and statu either FUCK UP APPROVED ME OR FUCK OFF WITH OVER 25 SEFLIES OF ME AND FINALLY THEY APPROVED ME. Those Guys seems to be Pyscos

Shap i emailed you ) hope you will reply...

Yep,and if got bank in the other country it's much cheaper than international ATM fees

i have an open account but never used it

used it recently to sent some money to Mexico. Very easy and fast, within minutes it was there.

Withdrawals to Non Banking Institutions or Payment Service Providers or any Financial Entity other than a legitimate licensed bank can not be processed.

If you have a sponsor you do say $50000 a month and they offer wires, but the exchange between your bank and that sponsor eats tens of thousands a year, you can turn that into a few thousands eaten by setting Transfer wise as your bank with the sponsor, then transfer to your bank in native currency.