Friendly Transfer (FT) was developed by international Harvard students at the Harvard Innovation Lab tired of paying expensive bank fees on international money transfers. In order to pay for school and other expenses - and avoid fees - they reached out to their networks: Whenever they needed to bring money from their country to the US, they would find a trusted friend/colleague in the US who needed to send money in the opposite direction, and simply agreed on paying each other locally. With this experience, they decided to build friendlytransfer.com to bring this possibility to a wider community of students, travelers, immigrants, small businesses owners, etc., who can now connect with friends around the world and exchange money locally, instead of incurring costly international transfers.
The founders believe that, with the right information, people can trust each other and engage in intermediary-free financial transactions. FT removes the middleman, slashes transaction costs and empowers peer-to-peer transactions. This the way of the future for international transfers and most small global financial transactions.
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