TransferWiseBritish online money transfer service TransferWise on Wednesday launched its debit card for individuals and businesses across Australia and New Zealand.

The debit card will be a part of TransferWise account – a multi-currency account – that allows one to send money with the real exchange rate, receive money for free, convert currencies at low fees.

TransferWise will offer its Platinum debit Mastercard with additional perks, including e-commerce protection, airport concierge, and global health and travel access, it said in a statement.

The debit card is up to eleven times cheaper than other travel cards, the company claims.

Additionally, the company has also launched its services in Argentina, its second venture in Latin America after Brazil. It operates in Argentina in partnership with Nubi, a FinTech company associated with Banco Comafi, according to media reports.

Founded in 2011, TransferWise is based out of London. An account with TransferWise lets you add, hold, and convert between over 40 currencies and all conversions and card transactions are made at the real exchange rate.

by Krishna V Kurup
Senior Market Analyst at IBS Intelligence
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