A multi currency account to support global workers

A cheaper alternative to receiving international payments than the banks  

Get your borderless account today






Keep up to 7% more of your international earnings compared  to PayPal

The allure of freelance and self-employed work is obvious. You can decide when and with whom you want to work. As a result it’s not uncommon to have clients overseas. ​But when you choose to work internationally, there are a lot of financial considerations to make – one of which is finding the best way to receive foreign payments.

Popular methods include being paid via bank transfer or PayPal. But typically you’ll get bad exchange rates, meaning the amount your client sends in one currency ends up getting converted to less in your home currency. Even worse, with PayPal business you get charged an additional fee just for receiving money into your account from abroad. 

Luckily there’s another way to get paid - with a TransferWise multi currency account.




What is a TransferWise borderless account?  

Opening a TransferWise borderless account makes it easier to work with clients around the world. It’s ​like opening foreign bank accounts in the UK, US, Australia, and Europe.​ The account comes with four sets of international bank account details to get paid in Pounds, US dollars, Australian dollars, and Euros for free.

When you add one of these TransferWise bank account details to an invoice, your client can pay you like they would a local. This means you’d avoid receiving fees you’d have to pay if your client paid you with PayPal or a regular bank transfer. You’ll also get a better exchange rate with TransferWise. ​Money can al​so be held in up to 29 currencies – all within the one account.  









Your money is always converted at the real exchange rate   

Once your client pays into your TransferWise account, you can convert your earnings ​at the real exchange rate, ​like you’d see on the likes of That way if you’re paid in another currency, it’s cheaper to convert your money home and move it back to your local bank account. You won’t be charged a hidden markup on the exchange rate like you would with the banks or PayPal. If you’re  based in the UK but are owed $2,000 by your US client, you could keep ​£106.45 more ​of your earnings via TransferWise than if the money had been sent via  PayPal.* 

Sending USD 2000 to GBP: TransferWise vs PayPal business

Fees/cost TransferWise PayPal business
Amount sending (USD) $2000 $2000
Rate quoted by provider (Reuters’ exchange rate = 0.7267) US$ 1 = £0.7267 US$ 1 = £0.7013
Provider exchange rate markup (%) 0% 3.5%
Provider exchange rate markup (USD) $0 $72.44
Upfront transfer fee (USD) $8.43 $0
Total sender fees (USD) $8.43 $72.44
Amount sent to recipient (GBP) £1,447.27 £1,402.72
Recipient fees applied (GBP) £0 £61.92
Recipient fees applied (%) 0% 4.41%
Total recipient fees (GBP) £0 £61.92
Final funds available to recipient (GBP) £1447.27 £1340.80
Total cost of transfer (USD + GBP) $8.43 + £0 $72.44 + £61.92




What’s the cost of a borderless account?

Opening a borderless account is free. There are no setup fees, monthly costs, or receiving fees either. And it’s free to add money into your account. 

The only fees you’ll ever pay are when you convert money within your account, or withdraw it in a local currency. But, since TransferWise always gives the mid-market exchange rate, and only charges low, transparent fees, it’s still cheaper than most banks and PayPal.









How to easily open your account and get to work today 
  1. Open your TransferWise account for free – all you need is your email address and to create a password (or log in if you already have one)  
  2. Click on “Balances” and then “Get started”  
  3. Complete your profile and upload your documents to verify your account for security  
  4. Activate up to 29 other currencies you want in your account. ​See all currencies here
  5. Instantly get bank details for US, Eurozone, Australia, and UK accounts    
  6. Add multiple currencies to your account, and convert between them using the real exchange rate  
  7. Start sending and receiving money around the world 


The TransferWise story  

Founded in 2011 by two Estonian expats and backed by Sir Richard Branson, Peter Thiel and Ben Horowitz, TransferWise uses peer-to-​peer technology to make it cheaper, faster and more convenient for users that need to send or receive money internationally. Always providing users with the real mid-market exchange rate for their transfers, with no hidden markups, customers are always charged a simple, low fee that is always made clear at the point of each conversion.

Operating in 60 plus countries and with industry-leading tech including intuitive apps for iOS and Android, TransferWise is FCA regulated so you can be assured that your funds are kept safe.  





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