TransferWise launches in New Zealand

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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