Digital Nomads your dreams are coming true. It is now even easier to get paid borderless. No more being tied to a bank account in your home country or having to open a bank account in the country you're working in. Financial freedom is now easier than ever before.
Work and travel is for a lot of travellers a great way to see more of the world while earning some extra travel money. These Digital Nomads have cut the ties that bind them. They now can work from wherever in the world. There was just one item that tied them to a specific place and that's the bank account.
Up until now, you either had to keep a bank account in your home country and incur high transfer costs when your international client base wanted to pay you in their local currency. Or you had to open a local bank account in the country you're working in or the country your customers are based in.
No more. It's time for a Borderless Account, a bank account that is just as flexible as you. And the best thing is, it's free to open one.
What is a Borderless Account?
The smart people at Wise – the company that started as TransferWise and revolutionised the way we transfer money globally (at a super low rate) – just have introduced another awesome product: Borderless Account.
That's a local bank account (+ debit card) that can be opened in various popular currencies. At the moment you can open that bank account in Euro, USA Dollar, Australia Dollar and British Pound.
That means you'll have a local bank account in Europe, the USA, Australia or the UK. You'll get a real bank account number and people can transfer money into your account. You can get paid by your clients in these currencies.
It comes with a borderless debit card
Your borderless bank account comes with a MasterCard debit card, the key to paying locally and cheaply worldwide.
- Wherever in the world you use the debit card, you'll do it at the real exchange rate.
- Paying with currencies that you hold in your account is free of charges
- You'll have free ATM withdrawals, up to £200 per month.
- You'll only pay a small conversion fee (between 0.35% and 1%) when you convert your money.
- Free same currency withdrawals for personal account users
How do I open a free borderless bank account?
- Open your free Borderless Account now (you'll get your local bank account details immediately)
- Select the base currency you would like to activate first
- Enter your details and transfer at least 20 (EUR, GBP, USD or AUD) into your new bank account
- Within a few working days, you'll receive your debit card. Just activate it and you're good to go.
Costs to open a borderless bank account
Well, as you are dealing with a Wise product, the fees are low and transparent. And as said before, the cost to open this borderless account is zero, yes NOTHING. It's free. The other costs associated with your Borderless Account are.
|Creating your account
|Hold 50+ currency balances
|Get a UK account number and sort code
|Get a U.S. routing and wiring number
|Get a European IBAN
|Get an Australian account and BSB number
|Same currency transfers (most currencies)
|£0.50 / €0.60
|Receive money in AUD, EUR, GBP & USD
|Add money to your account
Who can open a Borderless Account?
Anyone in Europe can open a bank account that is truly borderless. And free. Business users can open a Business Borderless Account. And they even get a business version of the debit card aka prepaid credit card. This was just announced by Wise (the new name of TransferWise), making it the perfect solution for travelling freelancers or digital nomads.
Advantages of opening a bank account that is borderless
Will you be travelling to two or more countries? Are you planning a worldwide backpacking adventure? Then it makes sense to open a free Borderless Account. It's like having a local bank account. And you'll pay like a local (no costs to pay) in more than 40 countries worldwide.
Are you a Digital Nomad that has an international client base? Or would you like to have an international client base? Then the Business Borderless Account plus business debit card is the perfect solution for you. You can keep more than 40 currencies on the account (card) and you can receive money (get paid) on your European, UK, USA or Australian bank account that comes with the borderless business account.
Pay like a local in over 40 currencies
A big PLUS is the fact that your Borderless Account can hold up to 40 currencies, meaning you can pay like a local with your bank card. No matter where you are in the world, you won't have any nasty fees as you're paying in the local currency. At the moment the following currencies are supported.
|United Arab Emirates Dirham
|Sri Lankan Rupee
|Hong Kong Dollar
|South African Rand
|New Zealand Dollar
Get paid without borders
Digital Nomads or travelling digital independents if that's what you prefer to be called, this is the biggest advantage for you. You can receive money from your clients in these currencies as you'll have a local bank account in these currencies:
- Australian Dollars from any bank account in Australia
- Euros from any bank account worldwide that is denominated in Euro
- British Pounds from any bank account in the UK
- USA Dollars from any USD bank account
- New Zealand dollars from any New Zealand bank account
Just activate these currencies on your borderless account and give the account details to your customers, so they can pay you in their currency. Easy as.