Wise Fees: Wise Pricing Clearly Explain 2024

Claire Millard
Şeyma Mektepli
Last updated
December 11, 2024

Wise (TransferWise) takes a radically different approach to international payments and currency exchange compared to banks and traditional money transfer companies. The way Wise charges for services is also different.

While some providers bundle costs together or hide fees in the exchange rates used, Wise is transparent about pricing so customers only pay for what they need, and always know in advance exactly what the service will cost.

This guide covers all you need to know about Wise’s fees, how they’re structured, and how they compare - you can also get the full rundown of Wise personal fees and Wise business fees here.

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Wise fees: Quick overview

Wise fees are structured around 3 key principles - costs are fair, transparent, and progressively being lowered to allow customers to get the best possible value. These commitments mean that Wise doesn’t hide or bundle fees like other providers.

All costs are shown upfront - and while that can be a lot to take in, it does mean you’ll always know exactly what your transaction is costing you.

Here are the key Wise costs you’ll want to know about.

ServiceWise fee
Open your Wise multi-currency account

Free for personal customers


Business customers can open an account for free, or pay 42 CAD for full feature access

Hold 40+ currenciesFree
Get local account details for 10 currenciesFree
Order a Wise debit cardFree
Spend currencies you hold using your cardFree
First 2 ATM withdrawals up to 350 CAD/monthFree
ATM withdrawals over 350 CAD/month1.75%
Over 2 ATM withdrawals/month1.50 CAD/withdrawal
Convert a currency using your cardLow fee from 0.48%
Receive money in CAD, EUR, GBP, AUD, NZD, RON, HUF, TRY & SGDFree
Receive USD by ACH or bank debitFree
Receive USD by wire6.11 USD
Send international paymentsLow currency conversion fee from 0.48% + fixed fee which varies by currency
Send high value international payments

Volume discounts

of up to 0.17% on payments over 20,000 GBP/month

Information correct on 25th November 2024.

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Wise transfer fees

Wise international transfers have a couple of different transparent costs:

  • Fixed fee: covering the fixed costs associated with the transaction. For major currencies this can be in the region of $1 - $3

  • Variable fee: covering the cost of the currency exchange. For major currencies this can be in the region of 0.5% of the transfer value

You’ll always see the full fee before you confirm the transaction. Here are the Wise transfer fees for a few major currencies as an example:

Sending 1,000 CAD to Variable fee (CAD)Fixed fee (CAD)Total fee (CAD)
EUR 4.47 CAD (0.45%)1.87 CAD6.34 CAD
USD4.76 CAD (0.48%)2.64 CAD7.40 CAD
AUD4.37 CAD (0.44%)2.32 CAD6.69 CAD
GBP4.87 CAD (0.49%)1.91 CAD6.78 CAD
SGD4.57 CAD (0.46%)2.67 CAD7.24 CAD

*Fees correct at time of research 21st November 2024

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Wise exchange rates and conversion fees

Currency conversion with low, transparent fees is what Wise does best. Unlike banks and other money transfer services, Wise uses the mid-market exchange rate (the one you might see on Google) without hidden markups, ensuring you get a fair deal on your conversion.

Wise charges a variable conversion fee, which depends on the currencies involved. Fees start as low as 0.48% of the transaction amount, with the exact rate shown clearly before you confirm your transfer. To see the exchange rate used and calculate the exact conversion fees for your transaction, you can use the Wise currency calculator.

You can check live exchange rates here, and compare with other providers: Wise exchange rate

Here are some popular currency pairs:

Wise fee calculator

When you arrange a Wise international transfer online or in the Wise app you’ll be able to instantly see the full cost, the exchange rate available, and the estimated delivery time, using the TransferWise fee calculator.

  1. Choose the currency you’re sending to and from

  2. Enter the amount you want to send, or how much you want the recipient to get

  3. Choose how you’ll pay for the transfer

The Wise fee calculator will show you the variable fee as a percentage and a total, the fixed fee, and the total cost. You’ll also see exactly what your recipient will receive, and when it’s likely to arrive in their account.

Take a look at the Wise fee calculator from the button below, to see how much you could save on your international payment.

Wise fee calculator

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How does TransferWise pricing work?

Wise has disrupted the international payment market with its approach to pricing. As we mentioned earlier, Wise’s commitments include:

  • Being radically transparent about costs

  • Charging as little as possible - and lowering fees over time

  • Using fair pricing so you only pay for the services you use

The price you pay with Wise varies based on the service you’re using, how you want to pay, and the currencies involved. However, you’ll always see the full fee upfront, with no sneaky hidden fees to worry about. Learn more about Wise on Wise Review.

Sending large amounts with Wise

Wise is a safe provider to choose for high value international transfers. In fact, you can even get a discount on your costs if you regularly send Wise payments for yourself or your business.

Wise high value payment discounts are automatically applied with no need to pre-arrange the fee. That means everyone gets the best possible deal, every time.

If you send more than 20,000 GBP a month - or the currency equivalent (about 35,000 CAD at the time of writing) - you could get an automatic discount of up to 0.17%:

Payment volume (GBP)Discount 
0-20k (about 35,000 CAD)0
20k-300k (about 35,000 CAD - 527,000 CAD)0.1
300k-500k (about 527,000 CAD - 879,000 CAD)0.15
500k-1m (about 879,000 CAD - 1,758,280,00 CAD)0.16
1m+ (about 1,758,280,00 CAD)0.17

*Information correct at the time of writing (25th November 2024)

Wise has high transfer limits, allowing you to send large amounts of money overseas safely with low costs. Learn more about Wise transfer limits here.

Send money with Wise

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Wise account and card fees

The Wise multi-currency account allows you to hold and manage money in over 40 currencies and send money in up to 160+ countries. Designed with international spending in mind, the account is linked to a Wise debit card, giving you access to low-cost conversions and no foreign transaction fees.

With the Wise card, you can spend like a local in 150+ countries, convert currencies at the mid-market exchange rate, and make free withdrawals up to 350 CAD/month with low fees after that.

Here’s how the Wise account and debit card fees shape up, so you know exactly what to expect:

FeaturesWise Account & Card Fees 
Opening the Multi-Currency AccountFree
Hold 40+ currencies Free
Receiving payments Free in most currencies, except for USD wire transfers (6.11 CAD) and CAD Swift payments (10 CAD)
Ordering a Wise Debit Card

Free for personal accounts


The cards on your Wise Business account are included in your one-time account setup fee of 42 CAD.

Monthly/Annual Card FeesNone
ATM WithdrawalsFirst 2 withdrawals up to 350 CAD/month are free; after that, 1.50 CAD + 1.75% of the amount withdrawn.
Currency ConversionFrom 0.48%
Foreign Transaction FeeNone 

Information correct at the time of writing 25th november 2024.

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Fees to add money to Wise Account

Wise top-up fees depend on how much you want to add and the currency you’ll pay in. If currency conversion is required to make a deposit into your Wise account, Wise charges a small, transparent fee for the transfer.

Here are some examples:

  • To add 1,000 CAD to your CAD balance paying with EUR:2.94 EUR via bank transfer and 8.91 EUR with a debit card.

  • To add 1,000 CAD to your CAD balance paying with USD:8.12 USD via bank transfer and 3.81 USD with a bank debit (ACH).

  • To add 1,000 CAD to your CAD balance paying with GBP:1,82 GBP with a wire transfer and 3.93 GBP with a debit card.

You can always view the exact fee breakdown before confirming your payment in the Wise app, ensuring you have full transparency over costs.

Wise Account fees for holding money

Holding money in your Wise account is free, in 40+ currencies such as USD, GBP, EUR and more.

Wise currency conversion fees

Wise specializes in low-cost currency conversion, using the mid-market exchange rate without hidden markups. The exchange rate and conversion fee is shown clearly before you confirm your transaction, so you’ll know what you’re paying.

You can convert money within your Wise account or let the Wise card’s auto-convert technology switch your funds to the currency you need at the lowest possible fee when spending.

You can calculate the fees from this Wise conversion fee calculator

Fees for sending money from your Wise account 

Once you hold a balance in your Wise account, you can use it to send payments to 160+ countries.

Here are some examples of the costs of sending money from your Wise account balance in CAD:

  • To send 1,000 CAD to a EUR bank account in Europe funded from your Wise account balance: 5.08 CAD

  • To send 1,000 CAD to a GBP bank account in the UK funded from your Wise account balance: 5.55 CAD

  • To send 1,000 CAD to a USD bank account in the US via funded from your Wise account balance: 6.16 CAD

Fees for receiving money into your Wise account

With Wise, You can get local account details in 10 currencies (including CAD, USD, EUR, and GBP) to receive international payments quickly and easily, plus SWIFT details, making it simple to accept payments from around the world.

Here’s what you need to know about fees for receiving money into your Wise account:

Local account details: Free to receive money in AUD, CAD, EUR, GBP, HUF, NZD, SGD, TRY, USD when using local account details (non-swift and non-wire)

USD wire transfers: Fixed fee of 6.11 USD per wire transfer.

CAD SWIFT payments: Fixed fee of 10 CAD to receive payments via SWIFT.

Wise card ATM withdrawal fees

With Wise card, you’ll enjoy some free ATM withdrawals every month, no matter where you are in the world. The Wise app also makes it easy to track how much of your free monthly ATM withdrawal allowance is left, so you’re always in control of your spending.

Here’s how the Wise card ATM fees shape up:

  • The first 2 ATM withdrawals up to 350 CAD/month are free

  • After the free allowance: 1.50 CAD + 1.75% of the withdrawal amount applies per withdrawal

Wise foreign transaction fees

Wise doesn’t charge foreign transaction fees, making it free to spend any currency balance you hold in your account. Unlike many bank cards, which often add on a 1-3% foreign transaction fee for spending or withdrawing in foreign currencies, Wise helps you avoid these unnecessary costs.

Wise also uses smart conversion technology to convert your balance from the cheapest available currency automatically. This means you’ll always pay the lowest possible fee for the conversion, with rates starting at 0.48% depending on the currency. Plus, every conversion is done at the mid-market exchange rate, meaning you won't be caught out by inflated rates.

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How does Wise pricing compare?

Before you choose a provider for your international payment it’s a smart idea to compare a few options, to make sure you’re getting the best available deal.

The good news is that specialist providers are almost always cheaper than using a traditional bank. However, even some specialist providers hide a part of their fee in the exchange rate they use. That means you’ll need to look carefully at the overall costs to find the cheapest provider for your payment.

At Exiap you can compare providers transparently, to find the best money transfer service for your needs based on both the fees and exchange rates available.

With our promo code, you can get your first transfer with Wise, for free. Learn more here: Wise promo code

How does Wise exchange rates compare?

While many banks and money transfer services may claim to offer zero commission, or fee free currency exchange, all that means is that they’re not charging an upfront currency conversion fee.  Providers still need to cover their costs, so they tend to simply hide their fees in the rates applied, by adding a margin to the mid-market exchange rate.

These costs get called a lot of different things - but whether it’s described as a margin, a markup or a currency exchange spread, it’s still an extra fee which can be around 3%. It might not sound like much, but it does push up the costs significantly. Here’s how a 3% margin would mount up over a few different transfer values:

  • Sending 1,000 CAD - the exchange rate markup adds 30 CAD to the total

  • Sending 5,000 CAD - the exchange rate markup adds 150 CAD to the total

  • Sending 50,000 CAD - the exchange rate markup adds 1,500 CAD to the total

Conclusion

Wise takes a radically different approach to pricing compared to traditional banks and international money transfer services. You’ll see the full cost of the service you need upfront before you commit, with no hidden charges or exchange rate markups. This can be a lot to take in, but it’s more transparent than bundling costs or hiding a charge in the exchange rate, which is what many other providers do.

Overall, Wise’s low fees and transparent approach to pricing makes it a market beating service for many customers.

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If you are interested in learning more about Wise money transfers, these guides might help:

TransferWise fees FAQs

How much does Wise cost?

Wises fees vary based on the service you need, how you’re paying and the currencies involved. However, you’ll always be able to see the full cost upfront before you arrange your payment.

How much does Wise charge for currency conversion?

Currency conversion with Wise uses the real mid-market exchange rate with no markup. All services have low, transparent fees which you can see before you make payment.

What are Wise transfer fees?

Wise transfer fees include a low fixed fee (often $1 - $3), covering the costs associated with the transaction, and a variable fee covering the cost of the currency exchange. For major currencies this is typically around 0.5% of the transfer value.

How does Wise compare?

Wise currency conversion and international payments use the mid-market exchange rate and low, transparent fees. This means they’re often among the cheapest - if not the cheapest - provider available.

Does Wise charge a monthly fee?

Wise doesn’t charge any monthly fees for personal accounts. You only pay for the services you use, such as sending money or currency conversion and all fees are transparently displayed upfront.

How much does Wise charge to receive money?

Receiving money into your Wise account is free when using local account details in most currencies. However, certain payment methods may incur fixed fees. For example, receiving a USD via wire transfer has a fee of 6.11 USD, and receiving CAD via SWIFT incurs a 10 CAD fee.