I don’t enjoy writing articles where I become somewhat of an advertising mouthpiece, but even more than that I hate banking fees, so here we go. Transferwise is giving away $100,000,000 worth of free international bank transfers to European startups, making it more cost effective to pay employees or suppliers abroad, attend conferences, or set up overseas offices.
Transferwise is a London/Estonia based startup that cuts down the huge costs associated with sending international wire transfers through banks. The company is regulated by the FSA and HMRC, and gives average people access to the mid-market exchange rate by using peer-to-peer technology that matches up money transfers.
Hinrikus says, “I remember all too well how depressing it was to throw away the precious little resources we had in the early days of Skype. We didn’t have investment and were struggling – every pound and euro needed to count. Working between London, Tallinn and Stockholm, meant we were constantly wasting money on banking fees. It was important to me to do something about this for other startups when I got a chance – TransferWise’s technology and this campaign is my small way of doing that.
To register, startups should go to this link where you can register for free transfers up to $100,000. The application period is open until 10 May 2013, and the vouchers expire on 10 April 2014.