Transferwise Introduces GBP & EUR Direct Debits


Fintech Unicorn and stealth bank Transferwise announced on Tuesday it is now introducing GBP and EUR direct debits. Through the new feature, users may now set up Direct Debits to pay bills and subscriptions across Europe from their TransferWise account.

Whether you’re living in Europe now or it’s where you called home once upon a time, you can still pay bills just like a local would. That phone bill in France, electricity bill in England, or student loan in Spain can all be paid from your one TransferWise account.”

With your TransferWise account you can:

  • Check up on which Direct Debits are active
  • Manage Direct Debits from accounts
  • Auto-convert from more than 50 currencies to pay for Direct Debit
  • Get a notification for upcoming payments
  • Get a notification if balance is running low

Transfer went on to add:

In the beginning, we created TransferWise for people sending money abroad. Since then, we’ve helped over 6 million people to not only send, but also hold and receive money in 40+ currencies from around the world. And with the TransferWise debit card, living like a local got even easier — with people getting the real exchange rate every time they spend abroad.”

Founded in 2011, Transferwise now has more than eight million customers and has move over $5 billion every month, saving them $4 million in bank fees every day. And Richard Branson, and PayPal founders Max Levchin and Peter Thiel, among others, have invested in the company.

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