TransferWise, a London-based startup that wants to make transferring money between currencies effortless and inexpensive, has launched its first proper mobile app.

Available to download from the App Store now, TransferWise is a peer-to-peer service that sidesteps bank fees and lets you switch money direct to users in other countries.

Screenshot_1To set up a payment users select their currencies, import contact/payment details and then action the amount they wish to transfer. TransferWise then processes the payment and sends a final notification when it has been finalized, nabbing 0.5% of the transaction for itself.

Though it has an Android ‘app’ already, it’s actually just a shortcut to its website and lacks any real ‘native’ functionality. A proper incarnation will follow soon though.

TransferWise was founded by Taavet Hinrikus, a former Skype director, and consultant Kristo Käärmann in 2010. It received a $6m (£3.9m) investment boon from Peter Thiel, co-founder of PayPal and now VC.

➤  TransferWise Money Transfer | App Store

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