Thread by @kaarmann

1/ @TransferWise’s 2019 Q3 mission update to our 6 million customers:

How much closer did we get to money without borders, progress on:
- speed of transfers
- reducing fees
- more ways to save
- covering the globe

Highlights👇

2/ Speed. Money is moving faster:

24% of our transfers are now delivered to the recipient's foreign bank account in less than 20 sec 🔥

+ 🇺🇸 sending via ACH on the weekend get their money 24h faster

3/ When the money is already on the @TransferWise Borderless account - then it gets really fast:

- 35% of transfers less than 20 sec
- 83% under 12 hours

Same if your money is in @n26 @monzo @bunq and other integrated banks.

4/ Majority of transfers to Eurozone now instant, but the adoption of instant differs by country:

🇪🇪 91%
🇪🇸 82%
🇩🇪 57%
🇫🇷 6%
🇵🇹 < 1%
🇮🇪 < 1%

5/ We don't know how often banks keep their speed promise, but it's not good to begin with. We added it to our comparison tables.

transferwise.com/gb/compare/?so…

6/ Price. The increases from Q2 are now reflected in the average price at 0.74%.

It's not great to see the average go up, even temporarily.

We invested in infrastructure to support volume growth and scalability – which will hep us bring prices down again going forward.

7/ 🇲🇾🇵🇭 Some progress with price in Asia, we managed to reduce fees for transfers to Malaysia and the Philippines.

8/ Borderless in Australia & New Zealand

🇳🇿🇦🇺 Debit and business cards have landed down under!

Every year, Aussies loose A$2.14 billion just by using their bank and travel cards overseas. Well, until now perhaps… 😏

twitter.com/i/moments/1050…

9/ We added local integrations to 12 countries.

🇦🇷 open for transfers from Argentina

🇨🇷🇺🇾🇹🇿🌍 Costa Rica, Uruguay, Tanzania and 8 West African countries are new destinations

10/ 🇧🇷 Bem-vindos, Brazilian students – you can now pay for your university fees with TransferWise

Oh, and we’ve also raised limits to send BRL, from 30K to 1m per transfer!

11/ Convenience: support 📞

We love to build apps, which are self-explanatory and easy to use. Dealing with money still often needs a human interaction.

Of the 800K questions we received in Q3, 52% got resolved within a day - up 20% from last Q.

12/ Businesses

You can now give multiple users, such as your accountant, access to your business account.

13/ Security

Since September we have another layer of password and biometrics authentication when you send money to someone new, or send money from your TransferWise balances.
transferwise.com/gb/blog/an-ext…

14/ Transparency

You get a warning push notification if you get lured into “Dynamic Currency Conversion” when using your debit card abroad – to stop you from being ripped off again.

https://twitter.com/kaarmann/status/1176807599251083265

15/ Team

We're now 1800 people, across 12 countries, fueling the mission.

Can you give us a hand? 👉 transferwise.com/jobs/

Read the full 2019 Q3 mission update here
transferwise.com/gb/blog/missio…