International transfers (when you're a real bank)


(John Mapley) #1

Maybe it’s too early to be asking this, but I’m sending money to Sweden in SEK and being royally striped up on the GBP-SEK exchange rate (basically a 4-5% markup).

When Mo (your new name, of course #momoneymoproblems #votemo :laughing:) is a real bank, will you use the same exchange rate for international transfers as you use for international purchases? Is there likely to be a fee?


(Tristan Thomas) #2

Good question! To be honest, we don’t yet know – we’ll definitely try to keep it as cheap as possible for customers :slight_smile:


(Matteo) #3

@jmap you should use TransferWise to get the real mid-market rate :wink:
Fees are transparently shown separately from the rate (for GBP > SEK it’s only 0.5%)

Plus, if you sign up from transferwise.com/matteo you’ll be able to transfer the first £2000 without any fees (employees’ friends perks eheh).

@tristan you should definitely think about integrating Mondo with TransferWise Number26 in Germany :wink:


#4

You should speak to us - international transfers is what we do. :slight_smile: http://www.earthport.com


(Andy Johnson) #5

You guys should speak to https://uphold.com


(chrisszurgot) #6

Do you have to be a bank already in order to offer international transfers? Revolut offer this as a prepaid debit card, which is one of the main reasons that I still use it, namely to send money to friends and family in the States. Does Mondo plan on offering something similar?