8.6 C
New York
Friday, May 7, 2021
Home Challanger banks N26 extends its partnership with TransferWise

N26 extends its partnership with TransferWise

TransferWise for Banks and N26 have extended partnership to offer fast, low-cost and transparent international transfers to their customers.

Both institutions are partnered since 2016, now they announced that they are bringing their partnership to the next level to offer a wider range of options for foreign currency transfers. With 30 in-app currencies now available, the N26 has also enhanced the app design for a more transparent customer experience.

Read also: Curve is back online after the Wirecard scandal

Approximately 7 million customers are using TransferWise, while N26 currently has around 5 million customers around the world and TransferWise says its fee-free model currently saves users £3M per day.

TransferWise’s services can be accessed via an API integration through the N26 app, so users may conduct cross-border transactions directly from their mobile devices.

TransferWise is now seamlessly integrated into the N26 app due to its powerful API. This way clients can make international transfers using their smartphones. There is no separate app and users are not redirected anywhere else to complete the transfer.

There are no added mark-ups and customers pay TransferWise’s lowest transfer costs only and all amounts are transparently shown upfront for every transfer.

TransferWise product manager for banks Steve Naude said: “Through N26’s access to our global payment infrastructure, their customers are able to send money quickly, transparently and conveniently, directly from the N26 app.

“The extension of our partnership helps N26 further strengthen its market position across Europe as one of the go-to banks for people who want to transfer money internationally at a low cost and high speed,” he added.

N26 CPO Georgina Smallwood said: “At N26, we listen to our customers, and that’s why we’re really excited to announce that we’ve extended our international money transfer portfolio to now include over 30 of the most requested currencies.”

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Bunq exceeds €1 billion in user deposits

Dutch neobank bunq hits the billion mark in deposits and is offering German account numbers for the first time.

Leaked Revolut blog post announces Bitcoin withdrawal option

Revolut mistakenly announced that premium customers will be able to transfer Bitcoin (BTC) from the platform to external wallets.

Starling becomes second most switched-to bank in UK

Starling Bank has the most switched-to digital-only bank and the second most switched-to bank in the final quarter of 2020.

Lunar acquires Swedish Lendify

Danish Lunar Group acquires the Swedish loan and savings platform Lendify to strengthen the private loan business.