Company secretarial services

Doing without hefty bank charges? You can.

A new way of banking

Since I started dealing with #bankaccounts as part of my previous job, I saw with my eyes what sort of fees and what degree of bureaucracy existed within the so-called “traditional” banks.

Beside tortuous application processes, running an account, once this was opened, could be even worse, with a lot of bureaucracy along the way. 

That is usually one of the problems with the high street giants. And whenever you have an issue, you are bound to go through tedious security procedures, staying on the phone for minutes and minutes before hearing a recorded message asking to wait longer.

The other major problem, particularly in business accounts, was the charges. From monthly charges to withdrawal charges to transfer charges... And this without considering whenever a payment was required in a different currency because the amount “lost in conversion” was simply for the bank’s fees, nothing else. 

It was simply unacceptable and therefore I started looking around.

I discovered a new way of banking: Transferwise. And I never looked back. 

This is what this article* is about.

Whether you need a personal or a business account, the whole application is fast and straightforward, with no appointments needed, no weeks to wait for a response, no unnecessary issues. It’s all done online and, provided the institute’s anti-money laundering due diligence is fulfilled, the account is up and running in a very short time. 

There are no application fees or monthly fees, only a tiny amount on outgoing payments, and their conversion charges are minuscule, compared to traditional banks. Just see for yourself, use the conversion simulator where you can also compare with different operators.

I can manage everything through online banking, which works seamlessly both on desktop and on mobile, and I can open many currency accounts in few easy steps. 

Not surprisingly, customer service is easy-going – without compromising on security though – and answers the phone quickly. Sometimes I emailed them, instead of calling, and I got a response within a day.

Talking about security, you can set up a two-step verification to log in on Transferwise, and every time an amount is debited to your account you get an instant text on your mobile.

If you want to find out what advantages are there for you now, just click/ tap on the following link, which will take you to a page showing you the various options available for you or your business. 

Wherever you are based, wherever you are sending money and, above all, whatever the currency you need, the advantages and the savings, in the long run, are considerable.

As I am sure I have done a good thing, I hope this will be of help to you. And if you are already using Transferwise, well, you know what I am talking about! 

Learn more about Transferwise

* I don’t usually recommend products/services of others but in the case of Transferwise I have no hesitation and that is why I decided to partner with them. 

For full transparency, Bolasco Consulting earns a referral commission on new successful subscriptions but this will not cause any additional charges for customers.