The TransferWise Borderless Account Decoded

The new offering from TransferWise, its Borderless Account, functions as a digital wallet.

In its current form it is ideal for small to mid-sized businesses, online sellers, sole traders, and freelancers. The company claims this account may lead to savings through reduced fees and competitive exchange rates.

The Borderless Account provides access to bank account details from the U.S., the UK, and Europe, giving you a cost effective way to receive funds in U.S. dollars, British pounds, and euros. In addition, it lets you receive payments and hold money in up to 27 currencies. You may register for this account from most countries the world over, with no more than 25 making the list of exceptions.