Seedrs choose TransferWise’s payments processing capabilities for paying its staff around the globe. The crowdfunding platforms employs workers in different areas who must receive salaries in their respective currencies.
The payments are processed via TransferWise’s batch payments tool at the real exchange rate, taken directly from Reuters, so the cost of the transaction is clear in one small upfront fee.
TransferWise launched the borderless account for businesses and freelancers in May 2017. The account allows businesses to hold money in up to 28 global currencies, with local bank details available for British Pound, Euro and US Dollar.
A debit card to accompany the account was launched in January 2018 to one thousand TransferWise customers and several thousand more will receive invitations to test the debit card in the coming weeks. The service will be launched publicly later in the first quarter of 2018.
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