Rewire provides cross-border online banking solutions specifically designed for migrants, enabling them to send money home quickly and securely through bank transfers, credit/debit cards, and mobile wallets. The platform offers competitive exchange rates and instant transfer options, addressing the need for efficient and cost-effective remittance services.
Funding
Funding not disclosed
Founders
Product
Problem
Migrant workers often face challenges in sending money to their families due to high transfer fees, unfavorable exchange rates, and limited access to convenient and secure remittance channels. Traditional banking systems and money transfer services can be slow, expensive, and require physical visits, creating barriers for those seeking efficient and cost-effective ways to support their loved ones.
Solution
Rewire offers a digital cross-border banking platform tailored for migrants, providing a suite of financial services to streamline international money transfers. The platform enables users to send money directly to bank accounts, mobile wallets, or for cash pickup, leveraging competitive exchange rates and low fees. Rewire provides a user-friendly mobile app for managing finances, tracking transactions, and accessing real-time exchange rate information. Users can also receive a Rewire Visa debit card for everyday purchases and international online shopping, offering a comprehensive solution for managing their finances across borders.
Target Audience
The primary target audience is migrant workers who regularly send money to their families and seek a secure, cost-effective, and convenient way to manage their international financial transactions.
Features
- Mobile app for tracking expenses, viewing transaction history, and managing recipient details
- Rewire Visa debit card for online and in-person purchases with no annual fees
- Multiple transfer options including bank transfers, credit/debit cards, and mobile wallets
- Fast transfers, with some arriving instantly
- Multi-lingual customer support available 7 days a week via phone, email, and chat
- Option to have salary directly deposited into a Rewire account
- Referral program offering cashback rewards for inviting friends