What regulations would a peer to peer money transfer platform face (TransferWise model but without an intermediary)? The platform does not touch money. It allows peers to find matching, opposing transactions and conduct the money exchange themselves.

If a State or Federal regulator cannot find an exact way to pin this marketplace down, then they go after intent. Barring the problem the marketplace will face with respect to trust, etc. let us look at the intent. The intent will clearly how that without the market place, the transaction cannot take place. How […]

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Would Transferwise be a good company to send money abroad?

Yes. No doubt TransferWise is a great company to use to send money abroad. Their rates are extremely competitive and they are truly one of the few disruptors in the field of money transfer (many may argue otherwise). It is because of Transferwise’s low fees that many others had to lower their fees to compete. However, Transferwise […]

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How can TransferWise send money abroad very fast?

This is usually achieved by something called Pre-funding. It is a concept by which the Sending company, pre-funds foreign currency with the beneficiary country’s banks. For example if money has to move from UK to Philippines. Transferwise will maintain a pre-funded account with say Bank D’Oro (BDO) in the Philippines. Once TW gets a confirmation […]

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