Almost all our customers at Amphora are outside the UK, so we do a lot of currency exchange. Over time we’ve come to understand there are lots of ways of moving money between countries, and at the quantities we move the service we use makes a real difference. Most of the services we’ve used are pretty boring – boring enough that I don’t really hear about them, it is just part of the accounts process (which I avoid as much as I can!).
But the newly-launched TransferWise service appears to be different:
- They are disruptive – they apparently give better rates by matching pairs of transfers rather than going out into the Markets.
- Their web site is really clean and explains it all well (in contrast to most services which are either phone-only or horribly complex sites).
- They are transparent in what they are trying to do and charge. So much of financial services seems to be designed to baffle you into being swindled.
I don’t know if we’ll use them – nothing to do with me really – but I do like their approach.