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Cross-border money transfer company TransferWise launched its borderless account earlier this year. The borderless account gives users instant international bank details and enables them to receive money from around the world with no fees, according to TransferWise.
Residents in the UK and the rest of the EU are able to open borderless accounts in only a couple of minutes, and it takes around 3 to 5 days for their debit card to arrive. We recently opened an account ourselves, and tried the card while traveling abroad.
The borderless account has several perks, but only offers basic features for daily use:
- Customers can opt to support multiple currencies with their card.