Users first create an account by filling in basic info and bank account credentials. Next, they select the amount and the type in the email address of the recipient. The money is then deducted from the sender’s account and sent to the person receiving the money. In order to access the money, the receiver has to create his or her own Moneytis account.
The startup also claims to use an algorithm to test its fee against other providers, and if another deal is found, Moneytis will redirect to the competitor’s website.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now