“Our customers now need us for more than money transfers. Sending, spending, and receiving money internationally is too expensive, slow, and inconvenient. We’re fixing that for people and businesses,” cofounder Kristo Käärmann wrote in company blog.
“We named our idea ‘TransferWise’ — because our early customers were ‘wise’ to know their banks were charging hidden fees in exchange rate markups,” Käärmann wrote.
For customers, not too much will change right away. The service is renamed to “Wise” or “Wise Business.” Users can access your exact same account via wise.com, using their current email and password. In a few weeks it will redirect transferwise.com to wise.com.
“We’re humbled that 10 million of you already rely on us to help you lead your international lives. We can’t wait to bring the next 100 million of you with us as we continue to build a new, fair, and transparent world of money,” he said.