Competitor update

Despite the fact that their current accounts haven’t launched for the public yet, Starling have just announced that they’re partnering with TransferWise.

https://twitter.com/StarlingBank/status/841961337458696192

There’s more details in this blog post.

And some key points from this Wired story in the partnership -

The service will enable customers to make transfers from the UK across the 35 currencies available in the TransferWise app, including the euro, US dollars, Indian rupees and Australian dollars.

Starling Bank customers will benefit from foreign currency payments at the real exchange rate with only “a small upfront fee”. We are awaiting confirmation from TransferWise regarding how small this will be.

Tom’s mentioned that the current accounts will launch with an integration to international money transfers so my guess is, that they will be Monzo’s provider too…

TransferWise also provide this service to N26 in Germany.

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