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> TransferWise captured the UK<> Poland corridor and expanded from there. Close! They started with UK <> Estonia, both co-founders are Estonians. IIRC in the v
by gedrap 9y ago
> TransferWise captured the UK<> Poland corridor and expanded from there.
Close! They started with UK <> Estonia, both co-founders are Estonians. IIRC in the very very early days, the whole settlement was done by users themselves over a Skype group.
- kreetx 9y agoYou are right, but the Poland corridor was probably the key to proving the model though.
- ido 9y agoWhy would either be lucrative? AFAIK within the EU bank transfers are free of fees.
- occamrazor 9y agoI think the exact rule is this: International bank transfers denominated in EUR below 50.000 EUR can’t have higher fees than domestic transfers. FX fees and spread can still remain.
- gondo 9y agoexchange rate
- glebedel 9y agoNot if using different currencies. high fees and/or abusive exchange rates.
- killedbydeath 9y agoPoland has 30x the population and likely 30x the number of immigrants to the UK.
- makomk 9y agoWithin the Eurozone bank transfers are generally free of fees, but banks still like to rip people off on exchange rates between different currencies and the EU doesn't seem interested in doing anything about that.