Secret Squirrel has been outed?

I may be wrong, but it looks like Eric has accidentally outed the Secret Squirrel.

Multi-Currency card.

It’s not on the roadmap, but is mentioned in yesterday’s media:

Also some interesting info regarding the future of neobanks.


Would be awesome if Xinja could have a foreign currency account with better interest rates than the usual banks. Wishful thinking ofc. :smiley:

@XinjaBoi I think the competitive advantage will be in the currency conversion rates and fees.

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I read that article and the never before mentioned currency thing did catch my eye. On the roadmap, there is an “International payments” thing due next year.

Are they the same thing?

I slightly tend to think Squirrel 1 is not a multi-currency card, but I’m not going to argue too strongly either way.


I will extend that thought, if multiple currencies come into play.

I think Squirrel 1 could be some sort of a product / service that incorporates multiple currencies / accounts / connections into it. I think it’s potentially something that may not have been seen before and has benefits, which I can picture in a only a fuzzy sort of way.

I really don’t know, but I think we’ll find out in the next month or two.

I read multi-currency card as being a travel card that allows you to put AUD in and then convert it to another currency for travel spending (avoids paying conversion fees to another third party). Pretty much the same as the Qantas Travel Money card is my read on it, which if so it’s nothing we haven’t seen before.

International payments probably the ability to transfer to an international bank account using a SWIFT code.

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I thought that too, but I can’t see it. No one is travelling and particularly international travel is just not a thing at the moment. And you can already use Xinja essentially as a travel card. It’s meant to have been launched around now, but they are waiting a bit longer.

I also don’t see why they would be issusing another card sort of service now.

I think the phrasing is a little bit of a ruse. I think it may be something that sort of uses multiple currencies in some way.

Ah. Yes. Good point. Agree.

They didn’t come up with secret squirrel yesterday…its been on the roadmap a long time before covid jumped from a bat.

Yeah. True.

What do you think that you can already use your Xinja card as a travel card?

Surely there has to be some other aspect. A “multi-currency travel card” with the time and resources that we have been told have gone into it, doesn’t really seem so… “secret”.

I dunno…

No - it’s not a multi currency card! The pooing golden nuggets was closer :_ninja_emojis_lilac_01:


@CaptainXinja haha nice to see you have your humour back. Pooing gold nugs would be a winning feature mind you.

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…on it… :_ninja_emojis_lilac_01:

the idea of an multi currency card has been done before! with some of major banks already having one, would it be a separate card? or would it be similar to Revolut one card multiple currencies on the same card? or could we even have something similar to TransferWise ? one card multiple currencies , multiple international bank account numbers? with bsb , account number , IBAN? for each country the multi currency supports, my ideal bank would include , crypto currencies , wearables , i really like the NFC ring , that bankwest offers , and a metal card! , food for thought! :smiley:

If it allows me to do international transfers, I’d be interested. A colleague actually asked me about transferring money overseas recently. I did some research & I noticed the prevalence of hidden fees. I.e. The transfer fee is $2 - $3, which is sometimes waived, but then they change the money at the live market rate, but offer you a lower rate, which they then give to the receiving party & the company pocket the difference.

The funny thing is, even with the hidden fee, it was, in my opinion, a fair rate. I just hate the whole hidden fee thing. If you want to charge me $27 in fee for a $2000 transaction, which was an actual amount I calculated in hidden fees from a particular international transfer service, I think that’s a fair rate and I’ll pay it. Just don’t hide it in the exchange rate and claim to be fee free. I also dislike it when the fee is deducted from the amount you send. I.e. You send $1000 and they deduct $20 & send the recipient $980 converted into a foreign currency.

Instead tack the fee on as an additional and be very open & clear about the process. You are choosing to send AUD$1000 and the recipient will receive £551 @ (insert exchange rate). The fee for this transaction is $25 (2.5% of the transfer amount). Your total amount owing for this transaction is AUD$1000 + AUD$25 = AUD$1025.

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