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TransferWise to power money transfers for Starling Bank customers

Thursday 16 March 2017 | 09:27 AM CET

TransferWise, a British fintech company, has announced that it will provide money transfer services to Starling Bank customers later in March 2017.

The partnership will allow Starling customers to make transfers from the UK to bank accounts in 35 currencies, including euros, rupees and dollars. According to the companies, this money transfer service will require a smaller upfront fee and use the real exchange rate.

Starling Bank, which is a mobile app-based bank, is set to roll out new services in the coming weeks and will enable current accounts customers to see what are they spending by categorising payments, while offering money management tools to help them budget and save.

According to financial Times, the partnership, which is Tranferwise’s first with a UK bank, is a signal of how the USD 1.1bn London-based fintech group plans to expand its services.

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