- The firm will now move to a model by which it will charge customers for new debit cards
- It will use the fees to pay for onboarding costs as well as customer support teams, it said
- “Up until now, we’ve been offering debit cards to our customers for free. From 6th May, there will be a small fee to produce and deliver new debit cards for customers”, the firm said in a statement
International money transfer firm TransferWise has announced that it will begin to issue charges on new debit cards.
The move marks a change for the company, which had previously offered customers debit cards free of charge.
However, TransferWise has now said that it will institute small charges from early May onwards.
In a statement published on its website, TransferWise went into further detail about the details of the move.
“Up until now, we’ve been offering debit cards to our customers for free. From 6th May, there will be a small fee to produce and deliver new debit cards for customers”, it said.
TransferWise also used the post to explain what it would be using the new fees for.
“We want to be very upfront about what this fee is paying for. Card fees help cover onboarding costs (