Best Multi-Currency Accounts
We compare the features, exchange rates and security of the three best multi-currency accounts available today — the Wise Account, the WorldFirst World Account, and the OFX Global Currency Account.
Wise Account
The Wise Account allows users to hold and convert funds in 40 different currencies and send and spend internationally, all at the “real” exchange rate and with exceptionally low service fees. Users can also receive major-currency payments free of charge.
Fintechs vs. Banks: Remittance War Rages On as FX Costs Slashed for Millions - 2019-05-19
For many currency routes, FX costs have been slashed in recent years by a number of industry-disrupting fintechs, allowing such firms to slice great chunks from the banking sector’s lucrative remittance markets. Banks are fighting back, though, by developing low-cost, digital offerings of their own.
Consumers Throwing Away Billions on FX Fees (TransferWise Study) - 2019-05-03
As in the rest of the world, consumers in Singapore are being fleeced when it comes to foreign exchange costs, a study by TransferWise has revealed. Individuals in Singapore are being charged 15 times more on international payments than companies are, with S$2 billion lost in hidden FX fees annually.
Remittances Reach All-Time High - 2019-04-20
Remittances to low and middle-income countries reached a record high last year, the World Bank has said. Average transaction costs remain high, with an average of 7 percent paid to transfer $200 or equivalent.
TransferWise Announces PayNow Funding Option - 2019-03-29
TransferWise is now officially offering PayNow as a funding option for users in Singapore, the company has announced.
Banking Sector Fights Back Against Fintech Rivals - 2019-03-27
Citigroup’s announcement this week of plans to develop its own consumer-payments platform is the latest indication of a fightback by the banking establishment against fintech rivals that threaten its most lucrative markets.
Messaging Apps to Take Slice of Remittance Market Using Their Own Cryptocurrencies - 2019-03-07
Users of popular messaging apps, including WhatsApp and Line, might soon be able to make cross-border payments effortlessly. In a move that will further disrupt the payments industry, the creators of such apps, including Facebook, are working hard to develop their own digital currencies that can be transferred to anyone in a user’s contact list.
Revolut Readies Singapore Launch - 2019-02-22
Revolut, a digital bank that allows users to receive, send and spend money at the interbank exchange rate, should be ready for its Singapore beta launch in March 2019, the company has said.
Transferwise changes Eurozone fee structure - 2018-07-02
In late June 2018, Transferwise introduced a new fee structure for Eurozone foreign transfers (from EUR) ... and as always with Transferwise its complicated so we will break it down for you!