TransferWise Business banking offers businesses around the globe a free bank account packed with all the features you can expect from a fully operational local UK business bank account. (and a bit more). TransferWise allows customers to send, spend and receive multiple currencies in the real exchange rate plus you get a Business Bank Account number and sort code and a Business Mastercard.
You do not have to be in the UK to open a TransferWise account, as it is a completely virtual bank with a short and simple online application.
TransferWise has it’s head quarters in London and is backed by Richard Branson and the former first ever employee of Skype! The company was started 8 years ago and has grown to service 4 million customers a month and is FCA regulated. The Business Account without Borders was launched in 2016 and has developed to meet the needs of businesses around the world.
The Business Account Offers more features that every business owner will find useful including:
- Hold money in multiple currencies
- Free to receive money in a currency that you hold
- Low Exchange rates
- Bank Account number and Sort Code
And there’s even more features for businesses:
- Sync with Xero Accounting Software
- Set up Direct Debits
- Make Batch Payments
- Pay directly into bank accounts
- Share your account number and sort code to be paid by your customers
- Get a Free Business Mastercard
- Pay invoices and people abroad
- Monthly Statements
- Check if your currency is covered>>
- View the Business Pricing >>
- What information do you need to open a Business Account with TransferWise?
- – Business registration details
- – The industry you’re in
- – Any website, social media accounts or other online presence
- – Names and date of birth for all legal business owners.
If you are applying from USA, Australia, Hong Kong, Japan or Singapore – there are some further details you may need to provide. (see Transferwise Verification Process for more information)
It’s an Online Bank, so what kind of support is available?
Great support, even over the weekend. You can contact the support team at TransferWise by logging into your TransferWise account and you have the choice of
- Phone Support
- Email Support
- Or Live Chat support.