London-based i national currency transf platform, Transf Wise has announced that it is getting i o the corporate payme s space with the rollout of Transf Wise for Business.
We’re excited to be able to off SMEs a fair , cheap , fast alt native for i national money transf .
With no sign-up costs or mo hly fees, Transf Wise for Business is a simple and cheap way to move money i nationally by using its network of bank accou s around the world to transf money between local accou s so that as little cash as possible crosses bord s, making sending money abroad up to seven times cheap compared to using a business bank accou .
While the business solutions are new, Transf Wise, which rece ly reported clearing £500 million a mo h in currency transf s, said that it has already transf red a total of more than $1.3 billion through the platform, which is geared towards SMEs.
Transf Wise is confide that it can now tap i o a pote ially huge market. Nearly half of SMEs send or receive i national money transf s at least once ev y six mo Milan
Nilan Peiris, VP, growth, Transf Wise, comme ed: “SMEs make up 99% of all UK businesses – they’re the engine of the UK economy. Despite the banks saying that they support these companies and their growth, the reality is that behind the scenes they’re happy to give SMEs a poor deal with hidden exchange rate charges. Thfair, andisn’t fair and we wa ed to do something about it. We’re excited to be able to off SMEs a fair , cheap , fast alt native for i national money transf .”