Money transfer startup TransferWise has made its debit card available in Australia and New Zealand.
In Brief:
- The business launched in the UK last year and expanded into the US in June.
- It expects to launch in Singapore by the end of this year.
- The company claims to have handled 15mn transactions via its debit card so far.
What does this mean?
TransferWise allows users to spend money abroad without losing out on transaction fees or exchange rates. This is a common issue for travellers, with research showing over $2bn was lost on transactions abroad by Australians last year.
