Summary of fee changes
This blog post is to update our customers about changes in price and is not a marketing communication. Our mission is to lower the cost of moving money across...
TransferWise for Banks partners with Pockit
We’re really excited to announce our partnership with Pockit, the inclusive fintech, enabling customers to make cheaper, faster transfers abroad straight from their Pockit account!
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 Pockit customers is another positive step towards our vision of everyone getting access to fast, cheap, transparent international payments wherever they are, whatever they’re doing.
Steve Naudé, Head of Product at TransferWise for Banks:
“At TransferWise, our goal is to make people’s financial lives easier, and save them money on the way. While it might be unrealistic to bring seven billion people to TransferWise, we can take TransferWise to seven billion people, through partnerships and shared technology. With this partnership, Pockit’s customers will be able to access TransferWise’s benefits wherever they are, with increased speed and efficiency. We’ll be bringing our transparent payments infrastructure to even more people who need faster, and better international services. Ultimately, bringing us one step closer to achieving our mission of money without borders, for people all over the world.”
TransferWise and Pockit share a common vision
Since 2014, Pockit has been on a mission to make current accounts available to all those who have undeservedly been rejected or ignored by the traditional high street banks.
Working with TransferWise, Pockit has integrated TransferWise’s API allowing customers to send money right from their Pockit Account at the real exchange rate, with fast, international transfers. In fact, 25% of all global transfers through TransferWise happen instantaneously.
Their 500,000+ users are able to open current accounts in minutes, giving them access to their Pockit prepaid Mastercard. Since launch, Pockit have facilitated over £1 billion customer transactions on behalf of its users.
Virraj Jatania, CEO & Founder of Pockit, commented:
“Helping our customers take greater control of their financial affairs, through fair and open access to a full range of services, is Pockit’s ultimate motivation. Transferring money abroad is a key service and during the first UK lockdown Pockit saw a 33% increase in international money transfers by our customers. As a direct result we have formed this partnership with TransferWise, which will deliver greater benefits to our growing customer base: faster international payments with lower and more transparent rates, all without leaving the Pockit app.”
We look forward to building many more partnerships in the future - get in touch with our team to learn more, or start your integration. Mail to: 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.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Money without borders
Find out more
Wise Expands in Brazil with New Payment Institution License
We have some excellent news to share: we’ve received our second licence from the Central Bank of Brazil, this time as a payment institution. Until now, we...
We've lowered some of our fees
This blog post is to update our customers about changes in price and is not a marketing communication. We regularly review our fees to reflect the real cost...
We’ve lowered our fees
Our mission is to lower the cost of moving money across borders. We’ve made progress over the last 13 years, bringing our average fee to 0.64% globally. As we...
Summary of fee changes: Major routes got cheaper but some fees are up
We have been changing our fees on Wise over the last months. Some of you benefited as a lot of routes got cheaper, but you would have seen an increase in some...
We’re dropping some of our fees
This blog post is to update our customers about changes in price and is not a marketing communication. We regularly review our fees to reflect the real cost...
