Following this announcement, the company’s customers will have the possibility to send and make payments in foreign currency instantly and directly through the use of the Itaú app. The overall goal of this initiative is set to deliver a more complete service for clients, as well as meet their needs in an ever-evolving market and stay compliant with the regulatory requirements and laws of the industry.
In addition, the new tool will enable users to make international payments and send money at any moment. The entire process can be monitored in real time, with transparency and visibility over each stage of the transaction.
According to the official press release, Itaú Unibanco developed the international account, expanded the benefits of points in its credit cards, and improved international remittances in order to optimise the customer experience, while also accelerating its growth process in the financial landscape. Furthermore, as individuals need to send money abroad, whether to make a payment or to send funds to family, friends, or acquaintances, Itaú Unibanco’s launch is set to make the overall process of sending cross-border payments easier, more secure, and more efficient.
Initially, the product will enable customers to send and pay instantly in EUR and GBP for transactions that are under the same holder. By the end of 2025, the solution is expected to offer 12 additional currencies, including USD, CAD, AUD, JPY, and NZD later on.
In addition, the partnership with Wise Platform shares the initiative of improving cross-border money movement, as well as delivering customers faster, more transparent, more convenient, and more affordable international transfers. The product launch will enable Itaú Unibanco to further develop its growth procedure, as it represents an important step in its commitment to combine enhanced technology with its expertise for an improved customer experience.
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