Yes, I got an email from them last week, certainly worth having a look at. Maybe they will let you have your own money when you want it, and not have to beg a french bank to borrow back some of your own dosh.
Completely agree Mark - French banks must have had a dickie fit when SEPA transfers were introduced! They must have thrown away so many quill pens! An archaic banking system not fit for purpose and vastly over priced to prop up over staffing and protectionist practices.
Do you really believe that? My French bank does have a limit above which I need to inform them before I transfer ‘my’ money but as that limit is about 150% of my annual income I don’t think that is unreasonable. My experience of my French bank has been extremely positive as was my experience of the bank I used in Germany, both being significantly better than the good service supplied by Barclays in the UK.
I think I might be missing something, their blurb is pretty scant so tell me if I’ve understood correctly or not please.
It’s not actually a bank account in itself, more of a payment portal where you can more simply route funds or make payments to & from bank accounts that you have linked to this product.
I set this up last week and it asked me to link my UK and Euro accounts, so to me it looks like the same services that were on offer before (perhaps with the addition of new currency options) but in a more user friendly interface.
I fully accept that I may have this wrong so please clarify if you can!
Hi James - it’s pretty much a simple fully electronic payment / receipt system in that you can send from, and request payment into, any of the accounts you set up - as well as normal transfers between your accounts. From a European perspective - all the accounts are issued with IBAN / BIC / SWIFT codes so can be used for direct debits etc - similar for the US except they don’t use IBAN’s.
I use mine in conjunction with my BUNQ account (another great service) - which also provides a debit card. I guess it won’t be long until Tranferwise also offer cards.
Just give them a bell if you need more info +33 970 730 848 or +44 203 6950 999.