We’ve removed the fee to hold large amounts of euros

On 1st August, we removed the fee to hold larger amounts of euros in your Wise account.

Why did we charge this fee?

Until recently, the European Central Bank was charging negative interest rates. This meant it cost financial institutions like Wise money to hold euro on behalf of customers.

We always charge the lowest amount possible, but as a result of the negative interest rate, we had to cover the costs for holding euros. As it’s fairest to only charge those holding euros, we introduced a small annual fee above a certain limit 1 .

We removed the fee on the 1st August

As of 27th July, the European Central Bank raised interest rates to 0%. This means it no longer costs us money to hold EUR for our customers — so we removed the fee on 1st August for everyone except customers based in Australia 2 .

This is in line with our mission to keep our fees as low as possible and pass savings on to customers whenever we can. We'll continue to work hard and help you save even more.