How does Wise charge fees

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Accepted Answer

Wise charges fees on a pay-as-you-go basis, combining a small fixed fee with a percentage-based variable fee, and converts money at the mid-market exchange rate without adding a markup.

There are no subscriptions, monthly plans or account maintenance charges, so you pay only when you use a service.

Exchange rate: Wise converts currencies at the mid-market rate, the same reference rate shown on Google or Reuters, with no margin added on top.
Fixed fee: This flat charge covers the cost of routing a transaction and varies with the currencies and payment method involved. For major currencies it is often around $0.50 to $1.
Variable fee: This is a percentage of the amount you send or convert, starting at roughly 0.24% to 0.33% and rising for some currency pairs.

Beyond transfers, Wise pricing differs by service, and several everyday actions cost nothing:

Opening an account: Registering with Wise is free.
Holding balances: Keeping money in most major currencies carries no fee.
Receiving money: Domestic payments in most major currencies, such as EUR, GBP, AUD and USD via ACH, arrive free. Incoming SWIFT wires and some regional payment types can attract a small fixed fee.
Card spending: Paying with the Wise card is free when your balance already holds the local currency. If Wise has to convert money for the purchase, a conversion fee is charged. Getting the card itself may require a small fee or adding money to your account.
ATM withdrawals: Withdrawals are free up to a monthly limit that varies by region, roughly the equivalent of 200 to 250 USD or GBP. Past that limit, each withdrawal costs a fixed amount plus a percentage.

How you add money also affects the total. Funding your Wise balance with a debit or credit card can bring an extra processing fee, while a direct bank transfer may not attract a Wise fee, although your own bank could still charge you.

Because the fixed and variable parts depend on the currency pair, amount and payment method, check the quote for your specific transfer on Wise's official fees page for your country before sending.