# Fee-Free Cross-Border Payments Denizen is Hoping to End the Hassles of International Banking By Justin Lam | Published 2018-11-28 | Tech Source: Trend Hunter, https://www.trendhunter.com/trends/denizen References: [ft](https://www.ft.com/content/cf1478ac-2e6b-11e8-9b4b-bc4b9f08f381) & [denizen.io](https://www.denizen.io/) Backed by Spain's BBVA, Denizen is a Silicon Valley start-up that is launching the world's first global bank account that will allow for fee-free [cross-border payments](https://www.trendhunter.com/trends/e-egypt). Designed in BBVA's in-house incubator and funded by the bank's digital business unit, Denizen is being used to target Spanish expats living in the US. Unlike existing [borderless accounts](https://www.trendhunter.com/trends/waza), such as TransferWise, Denizen does not charge any foreign exchange fees, provides a [regular debit card](https://www.trendhunter.com/trends/icapital-ventures) rather than a prepaid one, and allows clients to hold a single balance across jurisdictions. All of these features are key not just to the service, but to Denizen as a company. Focused on creating a premier "account for global citizens," Denizen aims to remove the hassles of international banking. ## Trend Insights (Trend Hunter) - Score: 1.7/10 - Popularity: 13% | Activity: 29% | Freshness: 8% - Audience gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America, Europe ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Tech](https://www.trendhunter.com/tech) ## Key Themes ### Why This Trend Is Growing - **Fee-free Cross-border Payments:** The trend of fee-free cross-border payments aims to disrupt the traditional banking industry, which charges hefty fees for cross-border transactions. - **Global Bank Account:** The trend of global bank accounts that allow for holding a single balance across jurisdictions opens disruptive innovation opportunities for Fintech companies to provide seamless cross-border banking services. - **Borderless Accounts:** The trend of borderless accounts that do not charge foreign exchange fees provides market opportunities for Fintech companies to create borderless banking solutions. ### Industries Being Reshaped - **Banking:** The banking industry needs to adopt new technologies and business models to stay relevant in the fee-free cross-border payments environment and to avoid becoming obsolete. - **Fintech:** Fintech companies can take advantage of the trend of global bank accounts to offer innovative and disruptive solutions that challenge traditional banking models. - **International Money Transfer:** International money transfer companies need to adapt to the new trend of borderless accounts by offering more competitive fees and services to retain customers. ## Related on Trend Hunter - [International Professional Neobanks](https://www.trendhunter.com/trends/zolve.md) - [International Currency Solutions](https://www.trendhunter.com/trends/international-currency-solutions.md) - [Secure Overseas Debit Cards](https://www.trendhunter.com/trends/currencies-direct.md) - [Global Money-Managing Apps](https://www.trendhunter.com/trends/zing.md) - [In-App Foreign Exchanges](https://www.trendhunter.com/trends/itau-unibanco.md) - [Affordable Money Transfer Campaigns](https://www.trendhunter.com/trends/paysend.md) - [Athlete-Specific Cross-Border Payment Solutions](https://www.trendhunter.com/trends/crossborder-payments.md) - [Expanded Cross-Border Payments](https://www.trendhunter.com/trends/visa.md) - [Gen Z Payment Solutions](https://www.trendhunter.com/trends/visa-and-pismo.md)