News Product update

TransferWise for Banks enters Australia with digital bank Up

Wise

10.08.20 (updated more than 1 year ago)

Read time 1 minute

We’re excited to announce our partnership with one of Australia’s top digital banks, Up. Starting today Aussies will be able to make cheaper, faster transfers abroad — right from the Up app.

Meet Up

With over 250,000 users, Up has challenged the traditional banking system by offering accounts that live on your phone. The mobile app and experience is convenient, sleek, and smart — and even helps to track spending habits and savings.

Like Up, TransferWise wants to make finance fairer. And more transparent. By partnering, we hope to help them build the best experience possible for customers to make international payments.

Pay with TransferWise right from the Up app

The first of its kind in Australia, our partnership allows Up customers to send money abroad in 48 currencies without leaving the Up app. At the same price and speed as if they were using TransferWise.

“Partnerships like this deliver a new way to think about banking, where traditional banks would provide this service themselves. Up has continued to turn banking on its head and find the most seamless, customer friendly way to provide services customers love.” — Dom Pym, co-founder of Up.

As of now, these enhanced international banking features can only be found in Australia with Up. Fast transfers, convenience, and no hidden fees or exchange rate markups. Dreamy, right?

“Our customers have been asking for this feature, so TransferWise and Up are very excited to be able to go live for Australian customers today. We share a common vision to help modernise financial systems and provide a fair and transparent banking experience for consumers. We want to take the experience of managing your money from a place of stress and anxiety to a place that’s simple, convenient, and even fun.” — Dom Pym, co-founder of Up.

What is TransferWise for Banks?

TransferWise for Banks lets financial institutions and banks offer cheaper international transfers to customers right from their own platforms. Our integrations are built using the TransferWise API. Our current partners include Monzo in the UK, BPCE in France, N26 and Mambu in Germany, bunq in the Netherlands and Stanford Federal Credit Union in the US.

They are all setting a new standard of user experience with our API integration. Surveys show customers enjoy the added convenience of international payments, and more than 90% using the integration recommend it.

Want to learn more?

With a growing team based in Singapore, we are working with financial institutions to bring cheaper, faster, and fairer international transfers to APAC. To start your integration or to learn more, get in touch at banks@transferwise.com

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

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