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TransferWise launches peer-to-peer international money transfer app

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Krystal
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LONDON, ENGLAND: TransferWise, the international money transfer platform, has today launched the world's first peer-to-peer money transfer app. The free app, which is compatible with iPhone, iPad, and iPod touch, enables users to bypass banks and their ‘hidden fees' in order to transfer money abroad cost effectively and at the touch of a button.

To set up a payment users simply select currencies, import contact/payment details and upload the amount they wish to transfer. TransferWise then processes the money and sends a final notification when the payment has been completed.

Taavet Hinrikus, co-founder of TransferWise, said: "This new app has been designed to take the hassle out of transferring money overseas, by saving users both time and money. We offer significantly cheaper and more transparent money transfers than banks- just 0.5% of the money being transferred, while banks charge up to 5%. Following the launch of the app, users will now be able to take advantage of the service while on the go."

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