TransferWise's sustainable business model indicates it's poised for future success in the cross-border transfer industry:
the company's annual report. This is up from 3 million users transferring £2 billion monthly in the summer of 2018.Additionally, it's saving users £1 billion in transfer fees a year that they'd have to pay if they used conventional banks to make cross-border payments; the firm's average fee for transfers currently lies at 0.67% of the amount that's being transferred, down from 0.73% in 2016.
in 2017, which allows users to hold over 45 different currencies and gives them multiple local bank account numbers, helping to reduce transfer fees. The Mastercard debit card for the account was introduced in 2018 in Europe, and it rolled the product out in theThe firm continues to expand its offering for businesses.
It continues to expand its network of partner banks. By teaming up with third parties and enabling them to offer its services to their end users, TransferWise gains access to more customers without having to pay the cost of customer acquisition. It's teamed up with banks including France-based
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