For me that's actually cheaper than what my bank charges for international transactions and transfers. I need this often enough that it would save me quite a bit of cash. Also there's no fee if you have existing bitcoins by the looks of things, so the 1% is just a convenience tax, afaik there are cheaper ways to buy bitcoins that circumnavigate this. I admit to not knowing much about bitcoin, but this product has piqued my interest as it might solve a few of my banking woes