By Oliver Smith on Thursday 15 August 2019
Aussie and Kiwi customers will be the first to try out a new “Platinum” version of the card.
London-based money transfer service TransferWise is launching its lime green debit cards for its Aussie and Kiwi customers today.
TransferWise’s card, already available for free in Europe, includes unlimited commission-free spending in the UK, US, Eurozone, Australia and New Zealand.
The card also includes cash withdrawals of up to A$350 a month for free from any ATM.
“Aussies are known the world over for being prolific travellers,” said Kristo Käärmann, CEO and co-founder of TransferWise.
“Working and living overseas is a right of passage for many, so we think it’s unfair that your bank punishes you simply for wanting to spend your own money abroad.”
Unlike its UK and EU customers, Australia and New Zealand will be the first to try a new “Platinum” version of the card which boasts protection on online purchases, a discounted airport concierge service, access to healthcare and wellness packages from Mastercard, and other deals and experiences.
The company said that according to research conducted by Capital Economics and published by TransferWise, Australians lost $2.14bn in 2018 alone on overseas card transaction fees.
TransferWise also revealed that its range of debit cards have now been used to make 15m transactions around the world, helping to cut down those losses.
Finally, Käärmann teased that TransferWise is looking to other markets in Asia to launch its card, adding “it won’t be long before our customers in Singapore get the card so they too can save.”