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TransferWise Borderless Account
 

Hey guys,

Has anyone seen the new TransferWise Borderless Account?

This is very interesting in the first place for anyone doing international business. For those who are not familiar TransferWise is an excellent money transfer service with minimal fees created by same guys who made Skype. I've used them for many years for fast and cheap intl. money transfers.

Recently they have come up with a new concept "borderless bank account" https://transferwise.com/borderless.

This could work for PayPal withdrawals. Anyone have tried yet?

Re: TransferWise Borderless Account
 

Looks like its another World First service

Re: TransferWise Borderless Account
 

I signed up and have a borderless account. It's neat.

I suspect however PayPal name must match otherwise it would cause a bounce.

I'll try it out with a UK account and report back.

Re: TransferWise Borderless Account
 

Here is the reply I got from Transferwise support:

It is possible to receive paypal payments but it depends broadly upon how the transfers are sent:

1. USD transfers must be sent via ACH electronic payment or Wire transfer. SWIFT transfers sent to a USD Borderless account will bounce back to the sender. Please note that if the sender requires micro deposit verification before hand then it is not possible to receive payment.

2. GBP transfers can be sent to a Borderless account as FPS or BACS. Transfers sent using CHAPS, SEPA or SWIFT will not be successful.

3. EUR transfers should be received no matter what way they are sent.

Of course this still doesn't say whether they will accept mismatched name withdrawals.

Re: TransferWise Borderless Account
 

What has your experience with the borderless account been like so far?

Re: TransferWise Borderless Account
 

I like to know aswell plz

Seems their rates and service is quite good

Re: TransferWise Borderless Account
 

I don't use it for PayPal. I use it for other purposes. Overall it's been good. No issues.

Re: TransferWise Borderless Account
 

Has anyone tried to link Transferwire bank account to Paypal?

Re: TransferWise Borderless Account
 

I have just made an account there, and ordered the mastercard from them, waiting to get it to use it on my new stealth account, will report back asap when i have more info.

Re: TransferWise Borderless Account
 

Got my Mastercard today from transferwise, made a new stealth account UK, bhought dedicated IPBURGER UK IP. Opened a UK local currencies bank details account on transferwise also and linked it with my new stealth no problem. All setup now gonna wait couple days and receive small payment and try to send it to transferwise se how it works.

Gonna keep you updated.

Re: TransferWise Borderless Account
 

thanks for info
what you sent to transferwise for the proof of address verify?

Re: TransferWise Borderless Account
 

I put my real info verified everything, payapl doesnt know that.

Re: TransferWise Borderless Account
 

Works well with pp, mismatch names too... But transferwise suspended my account once without any reason and sent all payments back to the senders...
Once they asked for selfie with doc...

Overall they are ok, fee very low and fast to open accts

Re: TransferWise Borderless Account
 

Anyone used transferwise usd account with PayPal?

Re: TransferWise Borderless Account
 

Got it reinstated though?

Re: TransferWise Borderless Account
 

So...

It doesn't like mismatch unless you send selfie, is that it?

Re: TransferWise Borderless Account
 

paypal uk work fine with this and not have any problems?,what document you send for verification to TransferWise ?
Thank you

Re: TransferWise Borderless Account
 

Nah, maybe they didn't liked it..

Re: TransferWise Borderless Account
 

Just got this from paypal regarding my transferwise bank account.

"Your bank has let us know that you can’t use your bank account ending in **** to fund PayPal payments. If you already have a card linked to your PayPal account, we’ll use it to fund your future payments.

"How to make future payments with PayPal"

If you don’t already have another bank or card linked to your PayPal account, you need to add one to fund your future payments. To link a card or bank, log in to your PayPal account .

Will this i casue me any problems? I only withdraw to my bankaccount and nothing else?

Re: TransferWise Borderless Account
 

That's normal since you can't setup direct debit on that account

Is your account still showing on PayPal?
Have you done withdwal to that account?

Re: TransferWise Borderless Account
 

maybe cuz different name on paypal and bank account?
if i sad something wrong let me know

Re: TransferWise Borderless Account
 

I just checked my paypal account my account still showing on paypal.
Just also made a transfer to my transferwise account on 20euro and they went through no issues :)

Re: TransferWise Borderless Account
 

I came across TransferWise Borderless Account today and signed up right away. I uploaded the required documents and the account was verified within a few hours. My intention was to withdraw USD funds in my PayPal account to my TransferWise Borderless (USD) Account, but apparently it's not possible :(

Here's the response I got from TransferWise support:

"Currently it is not possible to receive PayPal USD payments to the Borderless USD account due to their verification method.
In order to verify account PayPal sends micro deposits to your borderless account and then tries to pull the micro deposits back, unfortunately this is not possible with TransferWise borderless account, so they cannot verify the account fully.

We do have information of success of transfers of EUR from PayPal to Borderless accounts, but with USD unfortunately not.

You could receive USD to your borderless account directly though."

If anyone knows of any workaround or has a different experience, please do share.

Thanks.

Re: TransferWise Borderless Account
 

Reverse bank deposits?! How do they pull that off?

Re: TransferWise Borderless Account
 

Thank you for your update info, i will give it a try

Re: TransferWise Borderless Account
 

Yes agree with this, anyone tried world first to withdraw usd from PayPal?