TransferWise offers investments product

July 01, 2020 | Investment

Written by FinTech Alliance

TransferWise offers investments product

TransferWise has obtained a licence from the FCA to offer retail investment services.

In Brief:

  • It plans to allow users to passively invest in funds from third party providers.

  • The feature will be launched within a year.

  • TransferWise currently has 8mn users, whom it enables to send money internationally.

What does this mean?

Recently, TransferWise has branched out into banking relating services by offering a multi-currency account and corresponding debit card. It decided the next step was to help users make a return on their money, but didn’t want to go down the same route as traditional banks.

Read more here.

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