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Sending money abroad? Want to avoid your bank’s huge – and hidden – markup fees? Then get smart and send it with TransferWise [https://transferwise.com/].

 

Founded in 2011 by Peter Thiel, co-founder of PayPal, and Taavet Hinrikus, Skype’s first employee, TransferWise is your clever new way to send money internationally with nominal and transparent pricing. Banks hide their commissions on top the exchange rate. With TransferWise, your money is converted at the real mid-market exchange rate while only charging you a small, fair service fee that is shown to you up-front.

 

On small transfer amounts, there is a flat fee. Higher amounts would be charged a 0.5% or 1% transaction fee, depending on the country and currency exchanged [https://transferwise.com/support/what-currencies].

 

Business trip? Make payments on behalf of your company [https://transferwise.com/support/business-profile]!

 

“TransferWise demonstrates true innovation in banking by enabling its users to retain their wealth across borders,” Mr. Thiel said.

 

Now that’s what I call smart banking.

 

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