TransferWise can improve international donations

The company TransferWise developed an innovative banking service to reduce the banking fees for international money transfers. The idea is to match transfers from one country to another by transfers in the other direction. The money can stay in countries and the transfer of the funds can be saved. Therefore the fees can be much lower.

My limited personal experience with transfers by TranferWise is excellent.

 For donations and all smaler international transfers of funds this can save significant amounts and make donations more efficient. For the purpose of the Direct Donation Network international transfers should be credited immediately on the beneficiaries account, as an instant payment. So the recipient can use the donation and thank the donor. We will see when TransferWise or other banks and service providers can provide international instant payments.