How much does Wise charge to convert currency
Wise charges a variable percentage fee to convert currency, typically between 0.19% and 2% of the amount, and applies the live mid-market exchange rate with no markup. The exact cost depends on the currency pair, how you fund the conversion, and whether you are sending a transfer or converting inside a multi-currency account.
The total cost is made up of a fixed fee plus a variable percentage fee. Checking Wise pricing for your specific currency pair and payment method shows the figure that applies to you.
- Exchange rate: Wise converts at the mid-market rate, the same rate that appears on Google, without adding a margin on top.
- Variable fee: This percentage changes by corridor. Popular pairs such as USD to EUR or GBP to EUR usually sit around 0.2% to 0.45%, while more volatile or less common currencies can reach 1.5% to 2%.
- Fixed fee: This part depends mostly on the payment method used to fund the conversion.
Funding method has a clear effect on the final amount:
- Existing balance or bank transfer: Paying from a Wise balance or by direct bank debit (such as ACH) carries the lowest fixed cost.
- Debit or credit card: Card payments cost more because payment networks add merchant fees, which can add roughly 1% to 3% depending on the card issuer.
- Apple Pay or Google Pay: These wallet options are usually the most expensive way to fund a transfer.
Typical percentage fees for bank-funded conversions include about 0.45% for USD to EUR, about 0.35% for GBP to EUR, and about 1.5% to 1.9% for USD to INR.
- Weekend timing: Currency markets close on weekends, so converting during weekday market hours helps you get live pricing.
- Volume discounts: Wise lowers the variable percentage automatically for higher monthly volumes, with discounts starting from sending over 25,000 USD or the equivalent.
- Local taxes: Tax rules can raise the real cost. For business payments received into India, 18% GST applies to the conversion fee, bringing the all-in cost closer to 2%.