Global Foreign Exchange Provider TransferMate Global Payments Set To Disrupt Indiana Banks

Indiana, USA – April 28th, 2016 – TransferMate, an award-winning FinTech has today announced that they have successfully secured licenses in Indiana to disrupt the banks when it comes to the excessive charges banks apply on international money transfers. This news follows hot on the company’s recent win of the 2016 BIG Innovation Award in the USA.

"Businesses across Indiana have been paying some of the highest fees in the world when it comes to sending cross border payments. For a business to make a cross border payment of just €30,000 euro i.e. to a vendor in France, Indiana’s top 4 banks will charge over $USD1,000 in exchange rate margins and international transfer fees. Business are often unaware of the excessive fees banks charge as they generally only see the international wire fee which at $45-$55 is excessive when compared to banks in any other country. Our solution will cut bank fees by over 90%” says Barry Dowling, Co-Founder of TransferMate Global Payments. 

TransferMate aggregates the foreign exchange buying power of business across North America and uses this buying power to secure better exchange rates for clients from global wholesale banks. By using its global bank account network it eliminates wire fees , thereby offering business a new way of processing cross border payments.
 
About TransferMate

TransferMate Global Payments is a market-leading international solution for businesses worldwide that need to send and receive international payments.  The company is fast growing its client base across the globe with the mission of becoming the first choice for buyers and sellers exchanging money internationally.
 
With locations across Europe, North America and Australasia, TransferMate has invested heavily to create its own global clearing system that enables businesses to avoid the significant expenses and delays that traditionally come with moving money from one country to another and competes aggressively with Paypal and banks.

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Media Contact

Darragh Muldoon
Marketing Manager
E: dmuldoon@transfermate.com
T: 312 924 3737