Australian users to set up direct debits in Australian dollars with TransferWise

As confirmed by the money transfer service provider, AUD has joined the Euro and British pound (GBP) as the major currencies which may be used to pay for recurring bills from. Furthermore, the fintech company notes that it will not cost users ‘a cent (or penny)’ to perform these transactions.

The TransferWise team states that when people subscribe to a new service, it is easier to simply pay using direct debit, according to Australian Fintech. Account holders may check (via the app) which direct debits are currently active. They can also manage all direct debits from their accounts and receive notifications about upcoming payments or low balances.

The fintech has also launched ‘Pay with TransferWise’, which is a local (GBP to GBP) bill payment solution designed to give UK businesses a way to pay and manage bills with Xero.