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  • TransferWise is just a much wiser way to transfer your money abroad

    Posted on March 22nd, 2015 Mr. Leo Siemann No comments

    It all started because of two men – Taavet Hinrikus and Kristo Käärmann. The official story tells that both men came across the same old trouble – loosing money on their transfers. But being a good friends helped as they decided to top up each others bank accounts using Reuters mid-market rate.  So, Kristo paid to Taavet the amount of his salary in pounds to London highstreet bank account and Taavet topped up Kristos account with euros in Tallinn. Doing that on monthly basis boys couldn’t stop thinking that there must be many more people like them who might need it as a service… and so the Transferwise was born. Surely there was something to do with this Skype thing where Taavet continued his work as the very first emploee. Inspirational as it was then, so became peer-to-peer useful once again. It is no secret that banks are taking off abuout 4-5% of money we sending overseas. As Kristo and Taavet figured out that there was no actual need to send money over physically they created a much smarter system to save our hard earned pennies 🙂  So, how it works? Just check out the next video:

    Now, if You think that You or your friend might need this groovy solution then go & check out the instructions  and click here to get your first transfer sorted. There is a fee as little as 0,5% which is about 10 times less than banks charge us. To learn more about Transferwise watch Matt Covan interview with Taavet Hinrikus @ Cass Business School. TW is now operating on 101 currency routes and has established its presence at US market just a month ago.

    * TransferWise has received investments for further development from Sir Richard Brandson, Peter Thiel, Index Ventures, IA Ventures, Seedcamp and the latest by Andreessen Horowitz in total of $91M , which values this company close to $1BN  benchmark.