How Do I Setup A Multi-Currency Online Bank Account With A Debit Card Option?

Easy, start by using TransferWise's borderless accounts with debit cards for everyone.

TransferWise was created to correct a greedy, large and broken section of the banking eco system. TransferWise's mission is to make money online transfers around the globe to be fair, convenient, instant, and, in due course, free. In a move to challenge the archaic and expensive system, several years ago TransferWise launched a borderless account and debit card feature.

What is it?

A borderless account is a new visionary type of account for those who live abroad or for those who do business overseas. As a bonus you can opt in to obtain a TransferWise borderless debit card that will allow you to spend, receive money, transfer money and hold multiple-currencies of your choice. The days are over where you have high barriers of entry, hidden fees, a special foreign exchange broker or multiple accounts in several countries. Banking overseas has and continues to be a challenging process. While barriers and options have been better over the recent past, as noted, it is still a tough process that adds layers of expense and time. What do expatriates, travelers, or business people who work abroad in different countries? It's a challenge - the good news is more options are available with the advent of technology, so, companies like TransferWise can offer choices for both the individual or the business conducting business internationally.

How does it work? A first of its kind that allows anyone in the world regardless of country of residence access to multi-currency, multiple country account with a debit card option. The process is fairly straight-forward and can be as simple as paying a bill online or transferring money to a friend. You commence by setting up a very easy standard online registration process, and once that is complete - you get immediate access to currencies from all over the globe with your new borderless account.

During the setup process, depending on your bank account country, you will need your bank account information (see examples below) as it will vary country to country:

• UK Sort Code and Account number

• European IBAN number

• US Routing and Account number

• Australian BSB number and Account number

• Indian IFSC Code

• Singapore Bank Code and Branch Code

• Mexican ABM (Bank) Code/ CLABE code

• Philippine BRSTN Bank Code

Please note that the info above will include your personal bank information in which you can provide to people overseas to send you money, or if you are a company you can pay your overseas employees in their local currency. The options are endless.

A borderless account, how many multi-currencies does the borderless account manage?

As of the current date, TransferWise has more than 50 currencies (expanding to more) in which you can manage from your borderless account and simply run the calculator to check the exchange rate and convert it instantly. The calculator is similar to the one that appears in Google search or XE. TransferWise will provide transparent, competitive and low fees so you can make sound decisions and transfer knowing that you got the best competitive rate. The cool feature here is you can hold multiple currencies at one time - take advantage of good rates, who knows, you may make money while conducting this option plus save on unnecessary exchange rates while spending money abroad.

Where can I use the TransferWise borderless debit card? Basically you will have access to your money as long as the location online or in person accepts Mastercard. Withdraw your money from over millions of ATMs all over the globe.

So shop away, pay for meals, accommodations, flight, etc. while having peace of mind that your card will work while you travel or while you conduct business overseas.

Are you ready to commence? Register with TransferWise now to obtain your borderless account at no extra cost.

TransferWise is the new standard of how to send money abroad with lower costs and access to multiple currencies with a debit card option.