Wise Fees: How much does an international money transfer cost? [2023]

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.

TransferWise fees: an overview

Wise fees are structured around 3 key principles:

  1. costs are fair
  2. transparent
  3. 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.

Service Wise fee
Open your Wise multi-currency account Free for personal customers


Business customers can open an account for free, or pay 40 NZD for full feature access

Hold 54 currencies Free
Get local bank details for 10 currencies Free
Order a Wise debit card 14 NZD for personal customers


10 NZD for business customers

Spend currencies you hold using your card Free
First 2 ATM withdrawals up to 350 NZD/month Free
ATM withdrawals over 350 NZD/month 1.75%
Over 2 ATM withdrawals/month 1.50 NZD/withdrawal
Convert a currency using your card From 0.41%
Receive money in AUD, CAD, EUR, GBP, HUF, NZD, SGD, TRY and USD Free
Receive USD by ACH or bank debit Free
Receive USD by wire 4.14 USD
Send international payments From 0.41%
Send high value international payments Volume discounts

of up to 0.17% on payments over the equivalent 100,000 GBP/month

Transfer money with Wise

TransferWise currency conversion fee

Currency conversion with low, transparent fees is what Wise does best. Unlike traditional banks and other money transfer services, Wise currency exchange uses the mid-market exchange rate with the conversion fee shown clearly so you can check you’re getting a good deal.

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 NZD – the exchange rate markup adds 30 NZD to the total
  • Sending 5,000 NZD – the exchange rate markup adds 150 NZD to the total
  • Sending 50,000 NZD – the exchange rate markup adds 1,500 NZD to the total

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 from 0.26 – 0.41 NZD
  • Variable fee: covering the cost of the currency exchange. For major currencies this is typically around 0.45% 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 NZD


Variable fee (NZD) Fixed fee (NZD) Total fee (NZD)
AUD 4.48 (0.45%) 0.39 4.87
USD 4.78 (0.48%) 0.38 5.16
EUR 4.48 (0.45%) 0.26 4.74
GBP 4.48 (0.45%) 0.41 4.89
SGD 4.58 (0.46%) 0.45 5.03

*Fees correct at time of research 15th November 2022


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TransferWise 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 here, to see how much you could save on your international payment.

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.

→ Read 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 100,000 GBP a month – or the currency equivalent – you could get an automatic discount of up to 0.17%:

Payment volume (GBP) Discount 
Under 100,000/month 0
100,000 – 300,000/month 0.1%
300,000 – 500,000/month 0.15%
500,000 – 1 million/month 0.16%
1 million+/month 0.17%

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


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.

Send money with Wise


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.

What are Wise currency conversion fees?

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 0.26 – 0.41 NZD), 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 0.45% 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.

Claire Millard
Fintech copy and content writer
Claire Millard is a content and copywriter with a specialty in international finance. Her work has featured in The Times and The Telegraph, as well as industry magazines and leading personal finance blogs.
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Ileana Ionescu
Content manager
With a background in business journalism, Ileana is an experienced content manager, creating content for Exiap that helps its audience make informed decisions about their finances.
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Last updated
October 17th, 2023