The application money transfer TransferWise arrives on Android

The TranfertWise application that promises to save money on international money transfers, arrives on Android.

Did you know? When you make a transfer of money, you lose somehow. For example, if you send 100 euros in the United States using Western Union (data obtained from their simulator), the recipient of this money will actually 131.95 dollars in cash.

Now, if we make a simulation on the site TransferWise, there is a saving of nearly $ 6, since the recipient will receive 136.77 dollars. And again, the simulator Western Union I took as an example seems less greedy than most banks.


Indeed, the transfer service "peer-to-peer" states that it is possible to achieve savings of $ 16.79 for the transfer. What is the secret? Firstly, unlike banks and bureaux de change, says TransferWise apply the rate you see on Google or Yahoo Finance and not a lowered rate. Moreover, the costs seem much lower compared to traditional circuits.

For small-time transfers, the difference may seem ridiculous. But if the action is repeated or a transfer of 1000 euros, it starts to get interesting.

TransferWise there long enough and is already available in the euro area. An iPhone app was launched in October 2013 and this time, it is among users of Android smartphones that London society intends to deploy its small revolution. The app is already available on Play Store. Payments put in hand a few days before arriving.

In addition, the service claims porting mind PayPal or Skype on international transfers: the output of a traditional channel for savings. Among the co-founders of the company, there Taavet Hinrikus, one of the first employees of Skype. We also find Max Levchin, co-founder of PayPal, in its Board of Directors.

According to TechCrunch, TransferWise would also achieve another milestone in its development: £ 1 billion transferred via the technique based on the spirit peer-to-peer.