TransferWise for Banks launches in Portugal with Activo Bank

Prasangi Unantenne

02.03.20 (updated more than 1 year ago)

1 minute read

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

We’ve brought TransferWise for Banks to Portugal, enabling financial institutions to integrate TransferWise and offer their customers cheaper, faster, transparent payments to 85+ countries and 40+ currencies.

This means any financial institution can integrate TransferWise’s API directly into their own infrastructure. And today we’re proud to announce that ActivoBank, the digital arm of Millennium BCP, will be the first Portugese 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 Portugal is another positive step towards our vision of everyone getting fast, cheap, transparent international payments wherever they are, whatever they’re doing.

ActivoBank is our first API partnership in Portugal

Transparency and trust are the driving values of the partnership for both TransferWise and ActivoBank. TransferWise has been fighting for more transparency in the international money transfer sector since its inception, while ActivoBank has made digital banking the standard in Portugal. Today, ActivoBank and TransferWise have a joint mission: offering a simple, fast and low-cost service that places transparency at the heart of its customer experience.

With the integration of TransferWise in the ActivoBank app, the bank’s customers will have direct access to faster international transfers, with low fees using the real exchange rate. A quarter of TransferWise’s international payments globally arrive in just a few seconds.

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

We’re incredibly excited to now work with trusted partners on 3 continents.TransferWise for Banks has partnered with Monzo in the UK, Bunq in the Netherlands, N26 in Germany, and LHV in Estonia, with Novo and Stanford Federal Credit Union in the US and EQ in Canada. We’ve also announced partnerships with BPCE, France’s second largest bank, and Up! in Australia. 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

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