Finally, American Cruisers can have a SWIFT bank code too.
For years, If not a decade, I have watched as Australians, Kiwis, and other people and businesses all over the world share their bank account information quite freely in order to facilitate payments back and forth. Americans on the other hand have to be quite careful with their bank account numbers making sure to not let it fall in to the wrong hands!
Now, as a new feature Transferwise which I have been using for years in more than 10 countries now, I can have people pay me in USD right in to my account, with no fear, (in addition to me paying them in their currency)! Of course they can also pay me in Euros, Pounds, Rands, Singapore dollars and a multitude of other currencies too, because this application gives me “bank accounts” in other currencies too, that I can share equally as freely.
There have been so many times I’ve needed a “SWIFT” code, haven’t had one, have taken a payment for a magazine article I’ve written abroad or for a job I’ve done and haven’t been able to the payment without a lot of run around and a lot of fees. I remember once “Cruising Helmsman” magazine sent me a check for the equivalent of $125. I lost about $50 in fees converting and cashing it. With TRANSFERWISE I would not have that problem anymore!! Technology…you have to love it! And I am so happy now to be able to use this for receiving US dollars too!
Not American? Want an American Bank account? Well here you go! Beautiful! A cruisers best friend! Just used it again, 3 days ago to pay a South African company in Rand from my US bank account to expedite a delivery! I paid a total of $1.31 in fees for the convenience.
This ability comes with within the application by opting for what is called a “Borderless Account” with Transferwise… (be sure to use this link if you sign up…another way to support this blog and our videos by doing so, and while small, every bit helps!)There are still some limitations with this, but at the speed Transferwise works on these types of things, it will surely be complete and thorough in short order. A borderless account is a bit like having local accounts all over the world
I even have some Australian dollars in my account from selling an outboard motor to an Australian yachties who paid me in Aussie dollars, from more than a year ago that is waiting for a good exchange rate so I can make a few more USD dollars on it than I May have at that time!
A Borderless Account is like having a multi-currency account that lets you keep money in 40+ currencies, and convert between them at the real exchange rate whenever you need.
You can also get a credit card from them, personal account numbers, and bank details for USD, GBP, EUR, NZD, and AUD (with more currencies on the way). Share these details to your friends, companies or customers in order to receive money from around the world.
Here is my banking information, just to show you my confidence in the security of this system! Feel free to send cash!
Routing number (ACH or ABA)
026073150
Bank code (SWIFT / BIC)
CMFGUS33
Wire transfer number
026073008
Account number
822000048204
Account Holder
TransferWise FBO Rebecca Childress
Address
TransferWise
19 W 24th Street
New York
NY, 10010
United States
International Finances and Money on our American Cruising SailBoat
