A new option for money transfer, as TransferWise comes to Croatia.
London – 21 March 2017 – TransferWise, the international money transfer platform, is launching its services in Croatia, allowing people to send money to and from Croatia at low cost and without hidden fees. Croatian customers will be able to send money to 54 countries across the globe.
Using a peer-to-peer model and new technology, TransferWise gives users access to the real exchange rate (the one you see on Google) and is completely transparent on how much a transfer will cost. The company charges just 0.7% to send money from Croatia and doesn’t hide extra charges in the exchange rate.
Nilan Peiris, VP of Growth at TransferWise said:
“International money transfers are usually a lot more expensive than providers let on. Even ‘0% commission’ can mean hiding a fee in the exchange rate, thus giving people a worse deal than they were expecting. We think that’s unfair: we charge the lowest cost possible and are always completely transparent.”
According to World Bank data*, Croatia receives more than $2 billion (kn 14 billion) in remittances annually.
About TransferWise
TransferWise is the international money transfer platform based on peer-to peer technology. Launched in 2011, it is one of Europe’s most successful fintech startups having raised $117m in funding from investors such as Andreessen Horowitz, Virgin’s Sir Richard Branson and Xavier Niel. TransferWise was named a World Economic Forum Tech Pioneer in 2015. The company has recently launched an integration with Facebook and partnerships with European banks such as N26, LHV and Starling Bank.
Co-founded by Taavet Hinrikus and Kristo Käärmann, the company was created out of frustration with the high fees charged by banks on international money transfer. TransferWise uses the real exchange rate: the mid-market rate – making it up to 8 cheaper to send money abroad compared to using a bank. Over kn 7,5 billion is transferred across the globe every month using the TransferWise platform, saving customers more than kn 10 million a day. TransferWise is working to make the world better by helping to make the financial system fair.
www.transferwise.com
