UK: TransferWise launches borderless current account

TransferWise has launched a new borderless current account and debit card.

The new account allows customers to hold up to 28 currencies in a single account, and the linked debit card can be used to make payments directly in local currencies.

The account is targeted towards those who live and/ or work in different countries, with TransferWise chairman and co-founder Taavet Hinrikus saying: "The borderless account is a game changer for anyone living or working between countries. Opening a bank account abroad is incredibly difficult without a local proof of address, but the borderless account can be opened in minutes. For expats, second homeowners, freelancers, sole traders and more the borderless account is invaluable”.

"The new account allows customers to hold up to 28 currencies in a single account, and the linked debit card can be used to make payments directly in local currencies."

The account has currently been released to 1,000 customers.

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