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Unlike banks , which often have high charges for overseas transfers , Transferwise doesn ’ t . That ’ s the premise that founders Kristo Käärmann and Taavet Hinrikus – who , incidentally , was the first employee at Skype – formed the business under , driven by their own experiences with transferring money between Estonia and London . It ’ s worked . The business has grown rapidly since , with around six million customers reportedly sending more than US $ 4bn each month through its platform . Transferwise uses machine learning technology to create a world for “ people without borders ”. For transfers , it charges the day ’ s bank exchange rate , offering the best possible rate ; customers can receive money with international bank details , track transactions via mobile notifications and spend with a free debit Mastercard .

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