"New Bank Account" by Uncle Remus - 5.23.17

Entry Submitted by Uncle Remus at 12:25 PM EDT on May 23, 2017

I received an interesting email this morning from one of the biggest thorns in the side of the old banking industry, namely TransferWise. I’ve used them extensively when transferring money between countries because they use the price you see rather than a price dictated by the bank and only charge a small, nominal fee. So this announcement from them is VERY telling of the changes happening.

"Seven years ago, the very first pounds and euros were sent on TransferWise. Since then, over a million people, all over the world, have used it to send money.

But there's more to fix — old-fashioned bank accounts only work properly in one country. And when you use them across borders, it gets painful.

So today, we're introducing the Borderless account.

It's a new kind of account designed to make living, traveling, and sending money internationally painless. It does that by working like a local account, in many different countries."

Exciting times!
Namasté World
Uncle Remus