London-based foreign exchange scale-up TransferWise has launched its first integration with an Australian bank, as its co-founder called for local institutions to be forced to disclose their true fees for moving money across international borders.
Up, a mobile-only digital bank owned by Bendigo and Adelaide Bank and fintech Ferocia, on Monday plugged in TransferWise to offer its customers international money transfers in 48 currencies with, it claims, no fees hidden in the exchange rate.