The TransferWise business teams have been pretty busy building some awesome new things for their customers in 2018 – including the funding of batch payments with Borderless accounts.
The batch payment tool allows you to create and send multiple transfers with one single payment. That’s a huge time-saver really, especially when paying your overseas employees for instance. Simply upload a CSV file and create up to 1,000 transfers in no time. They do not charge any fees for file uploads. Also, you will get their usual real exchange rate aka mid-market rate along with their low fees.
Now you can fund a batch payment with a balance from your Borderless account. Thus, you are able to instantly pay for your transfers without having to make individual payments from your bank for each transfer. Pretty cool, isn’t it?
China, Turkey, Egypt & Nepal
Apart from that, TransferWise announced that they have added Chinese Yuan, Turkish Lira, Egyptian Pound, and Nepali Rupee to the list of their supported currencies. Please note that sending Nepali Rupees to business accounts is not available yet. Currently it only works for transfers to private individuals in Nepal.
Codementor have added TransferWise as a payout option for developers who get paid on their platform. Also, TransferWise can be a cheaper alternative to PayPal.
Also have a look at their Borderless account if you need a free multicurrency account with local US, UK, AU, NZ, and EU bank details.