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 17 520x425 TransferWise for iOS lets you transfer money to friends and family anywhere in the worldTo 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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