INSUBCONTINENT EXCLUSIVE:
Blomfield, who is also on the video call, smiles approvingly
together.The partnership, which TechCrunch outed nearly three weeks ago, will see TransferWise power international payments for the U.K
It is the second new bank partnership that the fintech unicorn has unveiled this month, after announcing that it has begun working with
TransferWise is the first of these.International payments has also been one of the most requested features by Monzo users since the
and to make transfers more instantaneous
He says it is similar, and usually centres on the fact that customers are already using TransferWise and that if a bank wants to put those
start rolling out to Monzo users as of today and will let them send money from their current accounts to 18 of the most popular currencies,
an international money transfer
If they already have a TransferWise account, they can use their existing details to authenticate with and link their account to Monzo
This means that any international money transfers made from within Monzo will also show up in your TransferWise account and the TransferWise
partner is that the fintech giant recently launched a banking product of its own
spend money in multiple currencies
Acting like a local country bank account, it is primarily designed to solve the specific problem of earning, receiving and spending money
Both of us are looking at the big high street banks, as either partners or competitors
Our customers come from Barclays, Lloyds, HSBC and RBS
I think anything that increases both of our brand awareness is a really positive thing
He then reiterates a point that TransferWise co-founder and Chairman Taavet Hinrikus has made often, which is that the company is entirely
agnostic on how customers access the service
The more money moving via its infrastructure, the better, with economies of scale also meaning it has been able to lower fees on an
unicorn that, on paper at least, competes with both TransferWise and Monzo
And although not yet a licensed bank, it has rolled out bank account features at a shockingly fast pace, putting it on feature parity with
option when spending or sending money abroad, even if questions remain about how it determines prices, especially at weekends, or if the
transfers or for some routes to pay for other routes
but that they are going to be better for the next 5 hours when you can put in your transfer
of the big banks, who I think are gouging their customers on things like foreign exchange
