According to TechCrunch, TransferWise’s debit card features transparent fees and exchange rates, and was first launched in the UK and Europe in 2018, before arriving in the US in June 2018. Since its launch, the company claims the debit card has been used for 15 million transactions.
Australian and New Zealand customers will have access to the TransferWise Platinum debit Mastercard (a business debit card is also available). Cards are linked to TransferWise accounts, which give holders bank account numbers and details in multiple countries. The card allows users to spend in more than 40 currencies at real exchange rates.
TransferWise cards do not have transaction fees or exchange rate markups and cardholders are allowed to withdraw up to AUD 350 every 30 days for free at any ATM in the world.
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