Notice: service towards bitcoin exchanges appears to have been suspended as of 22 Apr 2013
An e-commerce business allowing payments and money transfers to be made from through the Internet.
TransferWise can send from either GBP funds (from U.K. bank account) or EUR funds (from a E.U. bank account) to one any of the supported destination currencies and will perform the currency conversion at mid-market rates.
- British sterling pound (GBP). To Bank accounts in the UK from E.U. (EUR) bank transfers.
- Euro (EUR). To E.U. region banks from UK (GPB) bank transfers
- Polish zloty (PLN). To banks in Poland from UK (GBP) and E.U. (EUR) bank transfers
- Swiss Franc (CHF). To banks in Switzerland from UK (GBP) and E.U. (EUR) bank transfers.
The service is available for sending from an individual account or from a business account.
This ability to send directly to the recipient's bank will likely make TransferWise a preferred method that will allow those in the U.K. or E.U region to send funds when purchasing bitcoins through a person-to-person marketplace, such as the Bitcoin-otc marketplace.
Certain exchanges, such as Mt. Gox, may place restrictions on incoming bank transfers such that the name on the sender's account must be the same as name for the destination account at the exchange.
The service was launched in early 2011.
There is a 1 GBP fee per transfer.
- TransferWise website