TransferWise Launches a ‘Borderless’ Bank Account and Debit Card in the US Follow Max on Twitter @mfriedrichARK This week TransferWise, an eight-year old money transfer business, allowed US consumers to open multicurrency bank accounts connected to MasterCard debit cards in many geographic regions. Users can open bank accounts in the European Union, the UK, Australia, and New Zealand with routing and account numbers for US accounts. While it is licensed and regulated as a money remitter in most of these jurisdictions, TransferWise also depends on bank partnerships to offer direct-deposits tied to debit cards across the five geographies and to convert funds into more than 40 currencies. TransferWise limits fees by offering mid-market currency exchange rates. Raising $292 million from BlackRock, Andreessen Horowitz, and others, TransferWise is valued at $3.5 billion. A breed apart from money-burning Fintech unicorns, TransferWise seems to be living up to its name: it has been profitable since 2017.