Today I’m going to share some information regarding Wise, and in particular the fees.
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We regularly review our fees to reflect the real cost of moving your money — so you never pay more than you need to.
After the latest review, fees for some routes got more expensive and others got cheaper. You can find a full list of updated fees and when they apply here.
Our fees calculator will tell you if your route was impacted by this change and how much your next transfer will cost.
We’re upfront about what it costs to use your card abroad or send money internationally. We don’t talk about low fees or “no fees”, and hide the real price in inflated exchange rates. We believe in total fee transparency. Find out more here.
Wise has the Lowest Fees
Truth be told, Wise has the lowest fees I have seen on any payment platform, No matter if it’s receiving, sending or withdrawing money to your bank, they really have unbelievably low fees. In fact, very often there are no fees at all, which I find kinda weird, but I surely won’t complain.
For example, last week somebody sent me some money on Wise, and I received the exact amount that they had sent. If this was Paypal or Payoneer, I would have received less, because I would be charged a receiving fee. That is, except for Payoneer card payments, as with these the sender can choose to cover the fee. But on Wise I’m pretty sure that not even the sender was a charged a fee to send the payment, but I can’t say for sure.
Another is withdrawals from Wise to my bank account in the past 2 years. I never get charged any fee. That’s unbelievable. And for the few years before that I was being charged some funny amount, like $0.50 cents per withdrawal. Withdrawing $2,000 dollars and paying a $0,50 fee for the transaction really is a nothing burger.
Updated Fees and Calculator
Another thing that’s amazing with Wise is their transparency. There are no hidden fees and surprises with them. Registering for an account is free, and you can get a Visa debit card sent to you (limited to some countries) so that you can make payments with it worldwide by utilizing your Wise balance.
Additionally, I’ve withdrawn money from my Wise account to my bank account many times over the last 4 years that I’ve been using them, and the transfers are lightning fast. Very often the money is in my bank within a few hours, or latest the next day. It’s more of a matter of how long the bank will take to clear the money for me than anything else. Everything with Wise works like clockwork.
Here you can find the full list of updated Wise fees and when they apply.
And here you can find their fees calculator.
You can check out the links above to get a clear idea about their fees and everything related to them.
Here is a video I made talking about this:
Summary
For anyone that does any business online or requires virtual bank accounts for any reason, Wise is the way to go. You get a US dollar bank account (some countries do not), a British Pound and a Euro one. They also support a ton of other currencies. They have great and accessible customer support, their website works well, and like I said before, they have by far the lowest fees in the industry.