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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.
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This limit was 15.000 EUR for personal customers and 75.000 EUR for business customers until April 2022 and lowered to 3.000 EUR for personal customers and 30.000 EUR for business customers after May 2022 until 31 July.
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A holding fee for Euro still exists for customers based in Australia, fees and limit can be found here.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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