![]() ![]() Transfer fees may change if you are travelling abroad and sending money from other countries. You can pay by bank account, a GBP account outside of the UK, debit card or credit card. This is because the fees are based on a preset percentage. The more money you send, the higher your fees will be. Yes, its fees are “transparent”, in that they are shown to you in full befroe you proceed, but it’s a bit clunky that there are two fees – one flat and one a percentage, and that you can’t really predict them without getting a live quote from Wise.Īs long as you are sending pound sterling, Wise’s fees are the same no matter what country you are sending to from the UK. Because Wise offers the mid-market rate, it relies on fees to make a profit. You’ll have to provide proof of your ID and address before sending your first transfer through Wise. This extra step can sometimes add time to your transfer. You’ll first send the money to Wise, and then Wise will deposit the money into your recipient’s bank account. Funds must be sent to the recipient’s bank account there is no option for cash pickup. (The options may vary depending on the currency and the country you plan to send to). When using the Wise mobile app, you can also pay with Google Pay and Apple Pay. Pay with a debit card, credit card or bank transfer. A cap of £1,000,000 per transfer is in place, but some sending methods and locations may lower that limit. All you have to think about are the fees when comparing transfers. ![]() Wise offers the mid-market rate on all transfers sent through its network. Wise guarantees the rate for a specified number of hours – it might only be 2 hours, but in some cases it can be 100 hours (over 4 days) or potentially even higher. With some transfer services, the rate changes between when you first get a quote and when you actually push the button. Rates are “locked in” for a specified period. ![]() When compared to a bank, Wise’s fees and exchange rates will almost always be better. We were able to sign up for an account and initiate a transfer through the website in less than 3 minutes. ![]()
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