How do Wise fees work
Wise fees work on a pay-as-you-go basis: you pay only for the transactions you make, with no subscription or plan, and conversions use the mid-market exchange rate without a markup.
What you pay depends on the kind of transaction. For a fuller Wise overview, it helps to split the costs into three groups: sending and converting money, using the Wise card, and holding or receiving money.
- Currency conversion: Wise converts at the mid-market rate and does not add a hidden margin to the exchange rate.
- Variable transfer fee: A percentage of the amount you send is charged, which for major currency pairs typically starts at around 0.24% to 0.45%.
- Fixed transfer fee: Each transfer also carries a small flat charge that covers the fixed costs of routing the payment.
The Wise debit card has its own set of charges, which Wise lists on its card fees help page.
- Card order: Getting the physical Wise card involves a one-time fee, for example 7 GBP or 10 USD depending on the region.
- Spending: Paying in a shop is free when your Wise account already holds the currency being charged; spending in a currency you do not hold attracts a fee.
- ATM withdrawals: Cash withdrawals are free up to a monthly allowance that varies by region, for example around 200 to 250 USD or the equivalent, and a small percentage or fixed fee applies beyond that.
Keeping and receiving money in a Wise account is mostly free, with a few exceptions.
- Account setup: Registering an account and holding standard balances costs nothing.
- Domestic wires: Receiving local transfers in major currencies such as USD, EUR and GBP is usually free.
- SWIFT and other wires: Incoming SWIFT payments and some special wire types carry a small fixed fee that depends on the currency route.
Because fees and limits differ by country and currency, check the Wise pricing page for your region, and review the fee breakdown Wise shows before you confirm a transfer.