Cross-border banking service Rewire develops into a neobank for migrants

The development will see Rewire offer customised accounts focussed on the specific needs of migrants and the introduction of a new line of banking products that will serve the customers in the host country as well as the country of origin.

Rewire will provide its clients with a free Euro account, debit card, as well as additional banking services, including insurance, mortgages and savings accounts. It will allow customers to link the Euro account to a bank account in their home country with an option to receive salaries directly to the Euro account.

Rewire provides an international neobank solution for migrant workers who transfer most of their income to their countries of origin. By partnering with banks in the migrants’ home countries, Rewire’s technology enables migrants to deposit money into a digital bank account which can be used locally, issue a debit card and transfer funds home.