Transferwise seems a poor alternative in many situations. Is there a reason for preferring it over World Remit?
Why is it a poor alternative in many situations? What does World Remit do better?
I can see straight away that sending £100 to Spain that Transferwise gives a better rate. What currencies does World Remit have better rates for?
It seems from contacting Transferwise that World Remit can do USD to countries where USD is a main currency but not an official currency at a much lower rate and can also calculate the fees correctly.
Anything else? You said ‘many situations’
All the countries where this applies comes to mind to cover a dozen or so.
Other situations I’ve encountered are that there seem to be random payees even in the EU not supported by TW.
Exactly how many situations would be enough to justify my Idea (which is only a secondary alternative option)?
You said ‘many situations’ - so just one was never going to cut it
I don’t think worse rates for extremely limited use cases would be a crowd pleaser?
What’s the downside you’re seeing here?
This applies to huge populations around the world and very common ones for people sending remittances through such services.
Are you proposing to give users the choice, or just for Monzo to support more than Transferwise?
I’m sure there are reasons Monzo went with Transferwise, but without knowing what they were it’s hard to comment here. Maybe be simply a trust thing, with Transferwise being more reputable? I am guessing here.
As per the title, World Remit as well would be nice.