TransferWise for Banks launches in Canada with EQ Bank as first partner

Today is an exciting step towards modernizing international banking in Canada.

We’ve brought TransferWise for Banks to Canada, meaning that financial institutions can now integrate with TransferWise and offer their customers cheaper, faster, transparent payments to 70+ countries and 40+ currencies.

This will let any financial institution integrate TransferWise’s API directly into their own infrastructure. And today we’re proud to announce that EQ Bank, the digital arm of Equitable Bank in Canada, will be the first Canadian bank to partner with us.

What’s TransferWise for Banks?

TransferWise for Banks lets banks, credit unions and other financial institutions offer their customers our much loved international transfers experience, with the added convenience of not having to leave their banking app. All transfers are sent using the real exchange rate you find on Google and cost the customer only a small, upfront fee.

By tapping into our API, more people and businesses can have access to better, fairer international bank transfers. Bringing this service to Canada is another positive step towards our vision of everyone getting fast, cheap, transparent international payments wherever they are, whatever they’re doing.

EQ Bank is our first API partnership in Canada

TransferWise and EQ Bank share a common vision of fairness, convenience and to help people get the most out of their money. Working with TransferWise, EQ Bank has integrated TransferWise’s API allowing EQ Bank customers to send money right from their Savings Plus Account at the real exchange rate, paying only a small, transparent TransferWise charge. With the TransferWise integration EQ Bank customers also get fast, international transfers. In fact, 25% of all global transfers through TransferWise happen instantaneously.

We’re already launched in Europe, Australia, UK and the US.

Earlier this year we launched TransferWise for Banks in the US, with Novo and Stanford Federal Credit Union as the first partners. We've also partnered with Monzo in the UK, Bunq in the Netherlands, N26 in Germany, and LHV in Estonia, We’ve also announced partnerships with BPCE, France’s second largest bank, and Up! In Australia.

We look forward to building many more partnerships over the next twelve months.

Get in touch with our team to learn more, or start your integration. Mail to: banks@transferwise.com