Neobank Yapeal to offer international payments via Wise

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Valentina Vitali
Valentina Vitali
Research Analyst
Valentina is a Research Analyst and passionate about payments and fintech. Valentin enjoys analysing money transfer companies and the market. In her work, Valentina analyses payments data… Read more
  • Yapeal, which is based in Zurich, is a digital bank offering a full suite of services – and it will now offer international money transfers via the company Wise, which was formerly known as TransferWise.
  • Yapeal was the first such institution to get a fintech licence in Switzerland when the new system of licensing was introduced last year.
  • The fees for the new transactions were described as transparent, though they are likely to vary based on several factors, including the destination country.

A neobanking company, Yapeal, has confirmed that it will begin to offer international money transfers to its customers.

It will do this via the financial technology company Wise, which was previously known as TransferWise.

The partnership aims to bring down the cost of cross-border payments for the users of the Yapeal app.

Wise permits money transfers to over 80 nations around the world.

It will now be possible for Yapeal’s user base to send money via Wise simply by logging into the app.

The fee structure has been made transparent, though it does vary from place to place.

The destination will affect the overall price, but the ‘convenience fee’ is just 0.35%.

The platform has a transaction fee of between 0.4% and 1.3% from Wise.

There are, however, no exchange rate surcharges in place – and the exchange rate in action is the one that is visible on the platform.

Yapeal is a digital bank based in Zurich that offers a wide variety of services, including Swiss current accounts and foreign exchange services.

It also provides debit and credit cards.

It was given the fintech licensing green light there last year.

It was the first institution in the country to receive such a licence.

At the time, the company’s chief marketing officer Andy Waar said that the process was like pieces of a puzzle coming together, and that it was a testament to teamwork.

“It is an incredibly satisfying feeling to see how the initially seemingly loose puzzle pieces now fit together almost smoothly and now everything materializes – this shows again how strongly our team has grown together and is restlessly working towards the same goal,” he said.

On its website, Yapeal places emphasis on its cross-European usability.

It also emphasises the fact that debit cards are powered by Visa.

“YAPEAL is your daily companion that makes payment an experience,” it says.

“Whether in Amsterdam, Berlin or Zurich, with your Visa Debit Card you are welcome everywhere.”

It also points out the range of online services with which it is compatible.

“And of course not only live on location but also online. Of course you can use Apple Pay, Google Pay or Samsung Pay with your digital wallet at any time,” it says.

Yapeal is just one of a huge number of cross-border payments providers operating in this sphere – if you would like to know more about what they are all offering and how they can help you, just check out this reviews section and find out all the latest features.


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