TransferWise has created the Borderless accounts product to enable customers to set up and operate local bank accounts in approximately 15 different countries to receive or send money the way a local customer can do.

Borderless accounts help TransferWise customers to:

• Manage funds in over 25 different currencies, at their most suitable time and at a small rate.
• Save on unnecessary fees or exchange rate excessive spread at the time of receiving payments
• Receive payments at the currency of your choice, be it GBP, USD, or EUR, as TransferWise is aiming to expand the amount of currencies it operates with.

Please refer to the following link for finding out about TransferWise borderless accounts.

Open Banking is a standard created for the UK’s banking industry; its main goal is to secure the way providers intend to access to their potential and current customers’ financial records.

Open Banking is meant to opens the doors to new products, features and services that will help not only individual customers but also small to medium-sized businesses to obtain a better value proposal from banks. It could also provide this universe of customers a more detailed understanding of the financial products they acquire, as it helps them to obtain new and better ways to make the most of the money they spend and invest on.

Open Banking works with either online or mobile banking; customers can take advantage of mobile or web platforms that already use this standard, from Regulated Providers that are already ruled by the Financial Conduct Authority (FCA) and its European equivalents.

Thanks to Open Banking customers can compare multiple providers at the same time, so that customers can transparently look for the most suitable products for their needs, should it be a regulated app or a website. Of course, customers can make payments from their current bank to any other regulated institution through Open Banking.

More information can be found at https://www.openbanking.org.uk/

Samsung Pay is a mobile payment system that allows their customers to configure an 'electronic wallet' with credit and debit cards to use them without having to physically carry them, so that these customers can use the smartphone as if it were the credit card itself in any type of establishment with point of sale terminals with NFC1 and MST (Magnetic Secure Transmission) in some countries, which makes it compatible with all contactless and magnetic stripe terminals.

The procedure to use this service is very simple. At the moment of going to pay, the user will only have to slide his finger upwards, leaving the available cards visible (he must previously store them in the application developed for the occasion), choose which one he wants to use and proceed to payment, scanning the user's fingerprint.

The Samsung Pay system works with contactless point of sale terminals, a device that owns most of the current stores, so Samsung Pay can be used in all those stores without any problem.

Please log on to https://www.samsung.com/uk/samsung-pay/ to find out more about Samsung Pay

Apple Pay is a contactless payment method that has been created for Apple devices. This method has been designed to transition consumers from physical payment methods over to having their debit and credit cards directly on their Apple devices, allowing these customers to pay with their devices instead of using a card.

Apple Pay, therefore, works for any merchant that accepts contactless payment methods. Whenever customers note a contactless payment symbol or the Apple Pay symbol near readers in the checkout process, that means that Apple Pay is accepted.

For further information, please log on to https://www.apple.com/apple-pay/

Google Pay is a payment method created by Google for their Android users to make payments online or contactless and, whenever needed, to be used for transferring money to other peer users.

Google Pay claims that customers can pay for their purchases by simply placing their devices (be them Phones, Smartwatches or even Google Glasses) near a contactless payment terminal at the merchant of their choice for making their payments.

In the UK, customers can make payments of up to GBP 30 without even unlocking their phones; it all comes down to simply having the phone screen on – no need to open any apps for making these payments.

Please log on to https://pay.google.com/ for having more information on Google Pay.

On the downside, Tide customers cannot make cash payments in over-the-counter transactions (for example, at Post Office facilities), neither they can receive any cheques nor they can receive or make any overseas payments (at least, for the time being). Besides, the app is the only means Tide customers have should they need to access or manage their accounts – please note that there is an available web platform, but it is mandatory to have the app available for even accessing the web-based version.

This means that, should any Tide customer lose his/her phone, they are plain stuck; Tide can be contacted for account freezing and card cancellation purposes but, still, it is required to have a new phone to get back in charge of their accounts.

Still, please log on to https://www.tide.co/ for further information on how Tide can help their customers.

Tide Customers can use this platform the same way they would operate a regular bank account should it be the case of them making and receiving payments through electronic means, setting up direct debits, making payments with their MasterCard-issued debit cards and transferring money.

Besides, Tide customers are also able to send and work with invoices by no other means than the app, as they can also operate with their debit cards overseas (either at a physical merchant or at a website) but without the need to overspend in forex fees.

Please log on to https://www.tide.co/ for further information on how much Tide costs.

Vivid is currently offering their customers a Free of charge plan as the starting tier, and a Prime plan for EUR 9.90/month (please note that currently there is a special promotion where the first months on Vivid Prime subscriptions are free).

Both in the Free and in the Prime segments, users receive a metal Visa-issued debit card, a free Germany-based account, the chance to set up to 15 so-called Pockets and up to 10% in cashbacks on online purchases. The difference between both plans relies on the global-friendly character of the Prime subscription, with up to 150 currencies available for exchange and an overseas withdrawal limit of up to EUR 2000 per month.

For further information on plans and prices, please log on to https://vivid.money/

In the near future, as claimed by Vivid, its customers will be able to start investing in either American or European companies; Vivid proposes that can open their investment account in a few clicks for them to start operating right away, either through direct purchase of individual stocks across the US and Europe or through Exchange Traded Funds (ETFs).

Vivid claims that, whenever US stocks are purchased, they are commission free but, whenever European stocks are purchased, a low commission is charged.

Please log on to https://vivid.money/en-eu/investments/ for staying up to date with Vivid’s news on their customers’ investments.