TransferWise And Azimo To Launch New European Headquarters

TransferWise And Azimo To Launch New European Headquarters

With Britain’s exit from the European Union, UK financial institutions such as TransferWise and Azimo are looking to set up new European Headquarters outside of London. Brexit can have a major impact on economic growth in the UK as there is a high possibility that Britain will lose passporting. This raises serious concerns for all financial companies operating out of London as this will inhibit their ability to trade products and services freely throughout Europe on a single license.

While fintech startups won’t be closing their doors in London, Azimo has already made the decision to set up a new European HQ in Dublin and TransferWise is looking at locations such as Berlin to establish their new Headquarters. It is undeniable that Britain’s exit can cause an economic drain, however, cities such as Berlin and Frankfurt stand to benefit considerably as momentum shifts away from London.

Only time will tell us how UK fintech companies will adjust to the now changing European Market. With international expansions taking place in lands such as Asia and the USA the hunt is on for a new fintech capital of the world and Britain has a fight on their hands if they expect to keep their position in the heart of Europe.

A Review of TransferGo

A Review of TransferGo

Trying to send money overseas? Exchanging currency and getting it across oceans used to be extremely time consuming and expensive, but recent technology has changed that completely. What used to be laborious is now simple and can be done with a few clicks of your mouse. Transfers that used to take days or weeks now only take hours! With all of the amazing tech that’s out there making our money transfers so much easier, hundreds of companies have popped up all over the place, all claiming to be the best. In this article, I want to take a closer look at one of the newer contenders for the money transfer throne, TransferGo. Let’s dive in and find out everything there is to know about this international transfer company and if they are worth your time.

Who is TransferGo?

Launched in 2012, TransferGo was designed for migrant workers that wished to send small amounts back to their families. In an effort to make things cheaper, easier, and faster, TransferGo focuses on sending money online with lower fees than conventional banks and other transfer companies. This allows everyone to easily send money back to Mom and Dad without exorbitant fees, complicated forms, or long wait times. So how does it work?
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TransferWise vs. PayPal

TransferWise vs. PayPal

Sending money used to be quite the hassle. Prior to the emergence of online money transfer services, these types of transactions had to go through banks. Transfers used to take over twenty-four hours to complete. Banks could also charge you whatever fees they wished since there wasn’t much competition. They would charge a flat wire transfer fee that could reach up to $20 per transaction. If your transfer involved foreign exchanges, you’d lose buckets of money with the bank’s less than stellar exchange rates. Also, the recipient was usually charged a fee by their baking institution for receipt of the funds. All told, you would spend a good deal of money just to send money. Good thing that this is no longer the case!
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