We were wondering how long it would be until the word got out!
First, the question everyone’s asking… how do I get invited? In short, we’ll let you know when it’s time. As a lot of you have pointed out, the functionality right now is very limited. Only holding and sending euro and dollar is available, with local bank details for receiving and spending on card coming soon. This means the product isn’t ready for everyone to use yet, and probably wouldn’t be very useful to most of you in it’s current form. Instead, we’ve invited a few users whose previous activity suggests they would find the account useful in its current state, so we can start learning and iterating. For instance, some people may prefer to save for a future euro expense in euros ahead of time, to lock in the rate.
Everything you are seeing right now is subject to change, including the costs, but we aim for this to be a very competitive proposition.
The rails we use to make transfers from these accounts are the same as the ones used to transfer from the main gbp account. The only difference is that users can decouple the conversion from the transfer, so they can do each at the time that best suits them (to reiterate, we know this is a very narrow use case hence the limited availability).
We’re as excited as you are (probably more) to get the fully functional version out and we’ll let you know when we do. In the meantime, please keep the discussion going and let us know if you have any questions, the team will be keeping an eye on this thread 