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  #21  
Old 17.06.2017, 17:52
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Re: Transferwise Borderless account

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It looks good. I don't have a use for it at the moment, having a Swiss account and a UK account, however it would be very interesting if they launched a debit card with it (to withdraw cash and make payments in shops etc.) - you'd always get the best exchange rate for your holidays
I set up a Borderless account in GBP and transferred (converted) some CHF into it. But TransferWise doesn't allow me to make GBP payments from this Borderless GBP account: As soon as you select GBP as the originating currency it forces you to select another currency (non-GBP) for the receiver. So it looks like it's not intended to be used as a regular bank account. It's more like a destination for you to receive GBP payments into, after which you can convert it into your own currency. At least, that's how I understand it now. Am I missing something? The support info is not very clear.
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  #22  
Old 17.06.2017, 18:10
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Re: Transferwise Borderless account

These accounts could be used to play the fx market if you were so inclined.
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  #23  
Old 17.06.2017, 18:14
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Re: Transferwise Borderless account

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I set up a Borderless account in GBP and transferred (converted) some CHF into it. But TransferWise doesn't allow me to make GBP payments from this Borderless GBP account: As soon as you select GBP as the originating currency it forces you to select another currency (non-GBP) for the receiver. So it looks like it's not intended to be used as a regular bank account. It's more like a destination for you to receive GBP payments into, after which you can convert it into your own currency. At least, that's how I understand it now. Am I missing something? The support info is not very clear.
Correction: There's a difference between the standard "Send Money" option and the "Send GBP" option on the Borderless Account page. When you enter a new recipient it automatically continues with the "Send Money" scenario - assuming that you want to convert it. If you want to send GBP, you have to go back to the Borderless Account page right after adding the new recipient (so don't continue) and initiate a "Send GBP" from there. Found this out by accident. Not very intuitive, but it seems to work.
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  #24  
Old 17.06.2017, 18:19
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Re: Transferwise Borderless account

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Correction: There's a difference between the standard "Send Money" option and the "Send GBP" option on the Borderless Account page. When you enter a new recipient it automatically continues with the "Send Money" scenario - assuming that you want to convert it. If you want to send GBP, you have to go back to the Borderless Account page right after adding the new recipient (so don't continue) and initiate a "Send GBP" from there. Found this out by accident. Not very intuitive, but it seems to work.
Yeah you have to add your recipient as a recipient first, then you can use the Send CURRENCY button from the page.

It's quite nice, it allows me to hold EUR now without having a EUR account anywhere, and I put in some CHF too so I can have money there in holding essentially for future transfers.

Adds a nice piece of convenience.
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  #25  
Old 02.08.2017, 18:59
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Re: Transferwise Borderless account

I just sent my first transfer with Transferwise Thanks for the tip!

Now, lets see if it shows up intact on the other end.
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  #26  
Old 03.08.2017, 12:27
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Re: Transferwise Borderless account

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I just sent my first transfer with Transferwise Thanks for the tip!

Now, lets see if it shows up intact on the other end.
Please keep us updated.
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  #27  
Old 03.08.2017, 13:40
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Re: Transferwise Borderless account

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These accounts could be used to play the fx market if you were so inclined.
Very much so - in fact, with currencyFair you can even set an exchange rate you want. Your money will sit there until that exchange rate is hit, and only then does it exchange it...
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  #28  
Old 03.08.2017, 18:46
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Re: Transferwise Borderless account

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I just sent my first transfer with Transferwise Thanks for the tip!

Now, lets see if it shows up intact on the other end.
Update....Wow, the money arrived to the recipients UK NatWest account in less than 24 hours. I test shipped $120 US and lost about $10 along the way. Not bad I suppose. I think I'll try sending $240 and see what the fees do.
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  #29  
Old 04.08.2017, 10:39
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Re: Transferwise Borderless account

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Update....Wow, the money arrived to the recipients UK NatWest account in less than 24 hours. I test shipped $120 US and lost about $10 along the way. Not bad I suppose. I think I'll try sending $240 and see what the fees do.
Thats a huge loss, Paypal would be cheaper.
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  #30  
Old 04.08.2017, 13:21
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Re: Transferwise Borderless account

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Update....Wow, the money arrived to the recipients UK NatWest account in less than 24 hours. I test shipped $120 US and lost about $10 along the way. Not bad I suppose. I think I'll try sending $240 and see what the fees do.
That's a big loss my friend! More than 8% in fees.
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  #31  
Old 07.09.2017, 16:00
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Re: Transferwise Borderless account

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it is already there.

Log in. Select Borderless account, 'Activate' the CHF currency from the list.
Then Add CHF i.e. transfer/deposit them as in the attached image.
Setup CHF borderless account is easy, but there is no individual IBAN code! Not even my Firstname last name. So how could I receive transfers for my own name?

To:WorldPay AP Ltd
Reason for payment (Please fill this unique reference into all reference-related fields in your online banking, otherwise the payment might be delayed): TWSCHxxxxxxxxx
IBAN: CH44 8780 1003 0008 6400 0



Bank code (BIC/SWIFT): DEUTCHZZXXX





Our bank address: Deutsche Bank AG, Zurich Branch
Uraniastrasse 9
8001
Zürich
Switzerland
TransferWise address: 6th Floor
The Tea Building
56 Shoreditch High Street
London E1 6JJ
United Kingdom
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  #32  
Old 08.09.2017, 11:25
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Re: Transferwise Borderless account

Is there anyone have CHF IBAN borderless account?
Where is the IBAN code?
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  #33  
Old 11.09.2017, 16:35
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Re: Transferwise Borderless account

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Is there anyone have CHF IBAN borderless account?
Where is the IBAN code?
Transferwise Support did answered:
"With Borderless, bank details are only given for EUR, USD and GBP. At this time, you will not have bank details for CHF but we do hope to have this someday in the future. If you have any other questions, feel free to ask anytime!"
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  #34  
Old 22.03.2018, 15:21
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Re: Transferwise Borderless account

As a longtime Transferwise customer they've just invited me to trial out a new Transferwise debit card.

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Spend on your card in any currency, worldwide, with the real exchange rate and the low, transparent fees you know us for
Free overseas ATM withdrawals for the beta phase (free overseas ATM withdawals up to £200 / month post-beta)
Seems pretty good to me, I'm frequently flitting between £,€ and CHF and the fees stack up
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  #35  
Old 22.03.2018, 16:59
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Re: Transferwise Borderless account

Can't wait. Now that I was forced to close my GBP account I really need a viable way to spend GBP every time I go to London.
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  #36  
Old 23.03.2018, 08:14
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Re: Transferwise Borderless account

I received my Debit Mastercard around 1-2 weeks ago.

I opted for it since it is free and could be useful. The color of it is horrible though .

I am not sure about restrictions on using Debit Mastercard day-to-day (never used one) and I have not used it yet but I am sure that the card can be useful in many circumstances.

And since the opportunity costs of having the money on TW as opposed to your Swiss account is zero, it is no problem. You can even set up alerts that will notify you when an exchange rate hits a 2 week high.
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  #37  
Old 05.04.2018, 22:07
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Re: Transferwise Borderless account

I heard about this mastercard, but I didn't manage to get one yet. 2 questions about this card:
  • Is it possible to use CHF 1:1?
  • Is it possible to charge Revolut, in CHF, 1:1?
The green does seem a bit dodgy!
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  #38  
Old 06.04.2018, 00:33
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Re: Transferwise Borderless account

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  • Is it possible to use CHF 1:1?
  • Is it possible to charge Revolut, in CHF, 1:1?
The green does seem a bit dodgy!
Yes, yes and yes. I’m a long term Transferwise user with borderless account holding money in CHF, EUR and GBP.

I do a free transfer of CHF from PostFinance into the TW Borderless account and then use the TW debit card to transfer top up to Revolut CHF. No fees at all.

It’s a bit of a faff but I can top up Revolut for free this way. And yes...the cad isn’t a subtle colour!!!!
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  #39  
Old 06.04.2018, 00:48
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Re: Transferwise Borderless account

wow - how did you manage to get your hands on the green card? I signed up, but I didn't receive any feedback.

Maybe heavy users are, understandably, preferred.

Fantastic Info, nearly a game changer. Borderless just needs local individual CHF-account now!
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  #40  
Old 06.04.2018, 06:36
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Re: Transferwise Borderless account

I got tw vcard and I only joined 3 weeks ago n( choise TW over CurrencyFair because of the Borderless account and card)
I registered my interest and they invited me.

Only downside: no 3D secure while in beta which affected me once so far.

Last edited by gbn; 06.04.2018 at 13:10. Reason: More info but same answer, really
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