Wise Limits 2024: Full Guide

Wise is a global specialist in international payments, currency conversion and multi-currency account and card services. New Zealand customers can open a Wise account online or in the Wise app, either as an individual, a freelancer or a business owner.

With Wise it’s simple to send money to 160+ countries with the mid-market rate and low fees, to receive payments in 18 currencies with local bank details, and to hold and exchange 40+ currencies in a Wise account. You can also get a Wise debit card for simple spending and withdrawals.

This guide walks through the Wise limits that apply when you hold, transfer, spend or withdraw money. Let’s dive right in.

Wise quick feature summary

  • Customers in New Zealand can usually hold an unlimited amount of money with Wise, with no holding fee
  • Wise has high transfer limits which vary by currency but which are usually set at around the equivalent of 1 million GBP
  • You can spend and make withdrawals with a Wise card, to monthly limits which you can alter in the Wise app
  • Wise is safe for business and personal customers, even when holding or sending high value payments

Does Wise have limits?

Wise customers can open flexible multi-currency accounts which allow them to hold 40+ currencies, send payments to 160+ countries, and spend with a Wise card in 150+ countries.

Wise has a few limits on how much customers can send and spend from their account. These limits apply for security reasons, and to help keep customers’ accounts and funds safe. Generally, the limits in place with Wise are set at a fairly high level to allow customers to transact safely for themselves and their businesses – but it’s still well worth double checking the Wise limits which may apply to your account if you’re planning on making a high value payment or large purchase soon.

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Wise transfer limits

Wise money transfer limits can vary a little depending on the currencies involved. However, Wise is safe even for high value transfers, and limits are set to allow individuals and businesses to transact freely. In some cases the limits can change based on how you want to pay for your transfer – but whenever you run into a Wise limit you’ll be notified, and you’ll be able to get information and advice about your options easily online or by opening an in-app chat with customer services.

Here’s a look at the per transaction limits Wise uses for international payments, split out by currency. We’ve covered some popular currencies here – you can learn more online in the comprehensive range of transfer guides provided by currency.

Currency you’re sending to Wise sending limit (per transfer)
USD 1 million USD by local transfer
GBP 1 million GBP
EUR 6 million EUR
CAD Unlimited
AUD 1.5 million AUD

Wise account limits

With a Wise account you can hold and exchange 40+ currencies, and get local account details in 19 currencies to get paid conveniently by others. It’s free to hold money with a Wise New Zealand account, and there’s generally no limit to the balance you can keep in Wise. However, some limits may apply to Wise accounts issued elsewhere in the world – so if you’re not a Wise New Zealand customer it’s worth checking the online terms and conditions for your specific account for more information. Limits may also apply when receiving a payment to some Wise currency balances – more on that next.

Wise account receiving limits

With a Wise New Zealand account you can get local account details in 19 currencies, to receive money to your account by local transfer. It’s often free to get paid into your Wise account by others, although a couple of key fees do apply which it’s worth knowing about:

  • There’s a 6.11 USD fee per transaction for receiving USD wire transfers
  • There’s a 10 CAD fee per transaction for receiving CAD SWIFT payments

In both cases, there are other ways to receive payments to your account with no fee – such as by asking the sender to use an ACH to transfer your USD payment, for example.

In most cases, there are no limits on how much you can hold in a Wise account, or how much you can receive into your account using local details. However, there are some exceptions – importantly, when receiving USD to Wise.

If you use your local USD bank account details to receive money to Wise, and your routing number starts with 026, limits on how much you can receive apply as follows:

  • Per transaction and per day – personal customers can receive 20 million USD, business customers can receive 50 million USD
  • Per year – personal customers can receive 35 million USD, business customers can receive 150 million USD

USD accounts which have different routing numbers can receive unlimited amounts – and as you can see, even if your account is subject to a limit, the level is set very high for both personal and business customers.

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Wise card limits

You can order a Wise card which is linked to your Wise account. There’s a one time fee to get your card, and then no ongoing costs. You’ll just need to top up your money in NZD and you can spend in 150+ countries globally. Either switch to the currency you need in your account in advance – or let the card automatically convert for you when you buy something if you prefer.

Wise cards have limits which are set for security purposes. Your card comes with default set limits which you can change if you would like to. Daily and monthly limits apply – daily limits refresh each day at midnight, while monthly limits restart on the first day of each calendar month. Your default card limit is set so that the monthly limit is also your daily limit:

Monthly spending limit Monthly ATM limit
New Zealand Wise card 52,500 NZD 7,000 NZD

We’ll look at how to change your limits, next.

How to change spending limits on Wise card

If you’re not happy with the default limits it’s easy to change them to suit you – just log into your account on the Wise app or desktop site.

In the Wise app:

  1. Open the app and go to the Card tab – tap Limits
  2. Choose the limit you’d like to change –  spending or ATM withdrawals – and tap on Change your spending limits
  3. Enter your chosen limits and tap Save

On the Wise website:

  1. Log in and go to the Cards tab on the left hand side of the screen
  2. Choose the limit you’d like to change –  spending or ATM withdrawals – and tap on Change your spending limits
  3. Enter your chosen limits and tap Save

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How to check Wise card limits

You can view your Wise card limits, and see how much you have left on any particular limit, by logging into your Wise account online or in the app, and tapping the Cards tab.

Wise Business limits for account & card

You can open a Wise Business account for your company, and order a linked debit card for yourself, and expense cards for your team members. That can make international business spending easier, cheaper and simpler to manage.

There are limits to how much you can spend or withdraw with a Wise Business account. The limit is set according to the country your business is registered in.

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Wise Business cards spending limits

Wise Business debit and expense cards come with some spending and withdrawal limits, which are set for security. The limit applies for all card holders linked to one business account. That means that if one team member makes a high value purchase and exhausts the monthly spending limit, the limit is exhausted for all card holders until it resets. Here are the limits based on the location your business is registered in:

Monthly spending limit Monthly ATM limit
New Zealand registered businesses 78,750 NZD 7,000 NZD
UK registered businesses 45,000 GBP 4,000 GBP
EU registered businesses 45,000 EUR 4,000 EUR
Japanese registered businesses 6 million JPY 530,000 JPY
Singapore registered businesses 78,750 SGD 7,000 SGD
Canada registered businesses 82,500 CAD 7,000 CAD
Australia registered businesses 78,750 AUD 7,000 AUD

Wise Business expense card limits

You can issue Wise Business expense cards to team members who need to spend on behalf of the business. To make sure you’re still in control of the account, you can set spending limits for each member, which the individual can then view in the Wise app. You can also choose to limit the amount any team member can take out of ATMs, or block a card or cards temporarily to allow you to control your business cash flow more easily.

How to check Wise Business limits

You can view your Wise Business card limits, and see how much you have left on any particular limit, by logging into your Wise account online or in the app, and tapping the Cards tab. If you have issued Wise expense cards to team members they’ll be able to see their own limits within the app but can not access any sensitive details unless you’ve given permission within the multi-user access function.

Conclusion: Does Wise have limits?

Wise accounts let individual and business customers in New Zealand and around the world hold, send, spend and exchange currencies conveniently and with low fees. There are a few Wise limits which apply to some services and transactions, set for security, and to make sure customer accounts are kept safe.

Generally, Wise transfer limits are set very high, at the equivalent of around 1 million GBP per payment. This is to allow individual and business customers to transact freely. There’s also usually no limit on the amount of money you can receive into your Wise New Zealand account using local account details. No matter what you need to do, the good news is that Wise is safe, licensed and regulated around the world. That means it’s a secure way to hold even high balance amounts, and to send high value payments, with low charges and the mid-market exchange rate.

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.
Read more
Last updated
June 29th, 2024