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17.06.2017, 17:52
| Newbie | | Join Date: Jun 2017 Location: La Conversion
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| | Re: Transferwise Borderless account | Quote: | |  | | | 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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17.06.2017, 18:10
|  | Forum Veteran | | Join Date: Feb 2014 Location: Luzern
Posts: 544
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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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17.06.2017, 18:14
| Newbie | | Join Date: Jun 2017 Location: La Conversion
Posts: 2
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| | Re: Transferwise Borderless account | Quote: | |  | | | 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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17.06.2017, 18:19
|  | Member | | Join Date: May 2013 Location: Dietikon
Posts: 237
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| | Re: Transferwise Borderless account | Quote: | |  | | | 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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02.08.2017, 18:59
| Member | | Join Date: Feb 2016 Location: Zurich
Posts: 136
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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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03.08.2017, 12:27
| Banned | | Join Date: Feb 2014 Location: The World
Posts: 1,380
Groaned at 282 Times in 153 Posts
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| | Re: Transferwise Borderless account | Quote: | |  | | | 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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03.08.2017, 13:40
|  | Forum Veteran | | Join Date: Dec 2016 Location: Zurich
Posts: 1,651
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| | Re: Transferwise Borderless account | Quote: | |  | | | 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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03.08.2017, 18:46
| Member | | Join Date: Feb 2016 Location: Zurich
Posts: 136
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| | Re: Transferwise Borderless account | Quote: | |  | | | 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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04.08.2017, 10:39
|  | Forum Legend | | Join Date: Apr 2010 Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
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| | Re: Transferwise Borderless account | Quote: | |  | | | 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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04.08.2017, 13:21
| Banned | | Join Date: Feb 2014 Location: The World
Posts: 1,380
Groaned at 282 Times in 153 Posts
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| | Re: Transferwise Borderless account | Quote: | |  | | | 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.
| This user would like to thank Capo for this useful post: | | 
07.09.2017, 16:00
| Newbie | | Join Date: Sep 2017 Location: Hungary
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| | Re: Transferwise Borderless account | Quote: | |  | | | 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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08.09.2017, 11:25
| Newbie | | Join Date: Sep 2017 Location: Hungary
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| | Re: Transferwise Borderless account
Is there anyone have CHF IBAN borderless account?
Where is the IBAN code?
| This user would like to thank JTX for this useful post: | | 
11.09.2017, 16:35
| Newbie | | Join Date: Sep 2017 Location: Hungary
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| | Re: Transferwise Borderless account | Quote: | |  | | | 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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22.03.2018, 15:21
|  | à la mod | | Join Date: Nov 2007 Location: ZG
Posts: 5,751
Groaned at 126 Times in 102 Posts
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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. | Quote: |  | | | 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
| The following 4 users would like to thank Castro for this useful post: | | 
22.03.2018, 16:59
|  | Forum Veteran | | Join Date: Jun 2009 Location: Zurich
Posts: 535
Groaned at 12 Times in 8 Posts
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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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23.03.2018, 08:14
| Member | | Join Date: Feb 2016 Location: Genève
Posts: 139
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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.
| This user would like to thank CBGeneve for this useful post: | | 
05.04.2018, 22:07
| Forum Veteran | | Join Date: Feb 2012 Location: Zürich
Posts: 937
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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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06.04.2018, 00:33
| Member | | Join Date: Nov 2015 Location: Central
Posts: 220
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| | Re: Transferwise Borderless account | Quote: | |  | | | - 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!!!!
| This user would like to thank wheatism for this useful post: | | 
06.04.2018, 00:48
| Forum Veteran | | Join Date: Feb 2012 Location: Zürich
Posts: 937
Groaned at 3 Times in 3 Posts
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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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06.04.2018, 06:36
|  | Forum Legend | | Join Date: Dec 2005 Location: Zuri Oberland
Posts: 2,753
Groaned at 107 Times in 73 Posts
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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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