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Old 09.05.2019, 14:12
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Re: Transferwise Borderless account

I will have a go and answering some.

If you just use TW as is, then its an intermediary. You send money in one currency and it will throw out which ever currency you want into the desired account.

If you set up TW as a borderless account, yes you can use it as a bank account. So you can load CAD on there and spend CAD. You can load CAD on there and as required move amounts to CHF and spend CHF or of course any currency you choose.

Its interesting for card payments. For withdrawing cash from a machine, there is a limit which you can make while it being free, after that you'll pay a fee to withdraw.

Some currencies it will allow you to receive payments from third parties/persons. CHF I dont think is one of them. All currencies you can receive payments or transfers from banks in your own name.

For question 2, the money ends up where you want it, when you tell it to be there. Some are quicker than others. CHF I usually have a working day delay, for pounds its instant and Euro within a few hours.

Question 3 I have no idea about. I assume they dont care, just as long as you are who you tell them you are. But dont know for sure
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