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by panarky 1943 days ago
What are the limitations?
2 comments

The list of countries where the fees are lower than just using your card from $OTHER_COUNTRY is very short.

That’s a dealbreaker for me, but I’m a happy customer of theirs for transfers.

Often getting an account in another country is a big hurdle - TW makes this incredibly easy.

e.g. I'm opening an account in France at the moment (as a French resident!) and it is taking literal weeks and lots of scanning documents, posting paperwork, phone calls etc. TW opened a Euro account for me in a few clicks.

One in the US is that you cannot use a borderless account for ACH transactions initiated by the counterparty (despite it presenting the details that make it look like you can).
I'm curious to know how you verified this. The help text in the app is explicit that "There's no fee to receive ACH payments, or any other kind of payment that uses your ACH routing number."

I remember the app used to show two sets of US bank details, and that the routing number for receiving wire transfers was different from the one used for receiving ACH transfers. But that seems no longer to be the case.

Yes they were consolidated recently, less than 6 months ago.
I regularly push money into my TransferWise USD account from another USD account and they supposedly added direct debit support about a year ago.
Are you sure? I’ve done ACH transfers from my own bank account into TW.

I know if the ownership details don’t match up exactly there are extra steps, but it was pretty painless for me.

If you're saying that people can't transfer money into your account via ACH, then that's not true. Being paid by a client is a specific use they describe.
The opposite is what I am describing. I.e I cannot (read: could not last time I tried it, about 2 years ago) pay rent using TransferWise, upon entering the routing code and account number.
That means no paychecks, right?
have you looked at Currency Cloud?