As part of the launch of its new debit card in the US, money transfer firm TransferWise commissioned a study of how much it would cost to move money in and out of GBP and USD. Money transfer pricing was compared at institutions like Bank of America, Citi, Chase, Wells Fargo, HSBC and PayPal.
What the research showed that at a moment in time, with this pair of currencies (GBP and USD), Transferwise was significantly cheaper than other options. When it came to money transfers from USD to GBP, Transferwise saw its biggest delta in terms of fees.
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