03, November 2014: Transferwise is the company that has taken the money transfer industry by storm having introduced many changes that make users happier and other institutions like banks less thrilled. The company was launched three years ago and its mission is to revolutionize abroad money transfers by eliminating the hidden fees that other institutions impose on customers. Immigrants transfer billions of dollars every year to their mother countries and the industry promises to grow in leaps and bounds as more people increase their income a fact that has a direct impact on transfers.
Banks often use unfair exchange rates to hide huge charges. For a £1000, most banks charge an average of 5% that is £50 with some like Santander claiming to charge only £25 only to take £54.01. Worse still is western union, which claims the transaction is free, yet end parting with £43.61 of your money. Transferwise on the other hand charges a single fee of 0.5%, which is £5 only, for the same amount. If you have been through the banking system, you know it doesn’t get better than this and you can finally get value for your money.
Transferwise review gives many reasons why you should join the Transferwise bandwagon and another major one is Sir Richard Branson. Yes, that is right. Forbes ranked him the sixth richest person in the United Kingdom with a worth of US$4.6 billion. Being the super entrepreneur he is you know if he affiliates himself with a company more so when it’s about money, the company is the real deal. Richard Branson is the founder of virgin group, which has over 400 companies all of which have made tremendous impact in their respective fields. The companies are operational in different countries across several continents.
Richard ventured into business way early in his life. While still in school, he launched the student’s magazine and gave away the first 50,000 copies free after using advertising to foot the cost. Sir Branson is always seeking thrills and he is known for the sporting achievements he has and continues to make. He is also an author who has written numerous articles on business, entrepreneurship and mentorship. Forbes also ranked Richard 261 on the “world billionaires” list.
Earlier this year the business magnate invested in Transferwise, an international money transfer platform. The $25 million funds are set to sustain a growth period. Richard Branson and Peter Thiel of Valar Ventures, Index Ventures and IA Ventures contributed the funds. According to Transferwise, the money will be used to raise awareness about hidden charges in money transfers.
The total backing of the company since inception stands at $33 million. The fact that Sir Richard Branson believes in this company is enough reason why you should use their services and save money and time while at it because mid market exchange rates are applied and the money arrives the same or next day. Rarely do institutions charge cheaper and complete the transaction in 24 hours. A Transferwise review reveals thousands of positive feedback from customers who are thankful that they now get to save a lot of money and still get it within 24 hours.
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