Summary of fee changes
This blog post is to update our customers about changes in price and is not a marketing communication. Our mission is to lower the cost of moving money across...
Why our fees from NOK are changing
Why are we changing fees?
When we open a currency route, we estimate how expensive it will be to operate and set the fees. As we progress, two things usually happen. As more users start using Wise we're able to negotiate better fees from our bank partners and get the economies of scale. That makes transfers cheaper. As the volumes grow on Wise, it becomes gradually cheaper and cheaper for everyone.
On the other hand, we occasionally mis-estimate the cost or realise that some types are transfers are really costly to make. Card payments are a great example. In most European countries banks take 0.20% from your payment as debit card interchange. Add scheme fees from Mastercard, the processor, and the cost of liquidity to speed up the settlement — it often turns out 2-3x more expensive to pay via card than by direct bank transfer.
Low cost transfers
Funding your transfer from the bank is almost always the cheapest option. If you prefer low cost over speed and don't mind an extra step of making a bank transfer — choose this option.
Payments from 1,000,000 NOK become even cheaper. Amounts higher than that convert at -0.10% less.
Fast and easy transfers
Fast transfers can be sent from debit and credit cards. They are available at an extra 0.30% cost.
New Fees
See how the new fees have impacted low cost transfers from your bank.
| Before | After | Impact @ kr 50,000 | |
|---|---|---|---|
| EUR | 0.50% min kr 10 | kr 7 + 0.35% | -27% ✯✯ |
| GBP | 0.50% min kr 10 | kr 8 + 0.30% | -37% ✯✯✯ |
| USD | 0.50% min kr 10 | kr 7 + 0.35% | -27% ✯✯ |
| INR | kr 4 + 0.55% | kr 8 + 0.45% | -16% ✯ |
| AED | 1.00% min kr 24 | kr 25 + 0.70% | -25% ✯✯ |
| ARS | kr 26 + 1.00% | kr 26 + 1.00% | 0% |
| AUD | 0.70% min kr 12 | kr 7 + 0.35% | -48% ✯✯✯ |
| BGN | 0.70% min kr 14 | kr 7 + 0.55% | -19% ✯ |
| BDT | kr 20 + 1.65% | kr 20 + 0.50% | -68% ✯✯✯ |
| BRL | 1.50% min kr 15 | kr 15 + 1.05% | -28% ✯✯ |
| CAD | 0.50% min kr 10 | kr 6 + 0.40% | -18% ✯ |
| CHF | 0.50% min kr 10 | kr 14 + 0.35% | -24% ✯✯ |
| CLP | 1.50% min kr 25 | kr 33 + 0.90% | -36% ✯✯✯ |
| CNY | 1.50% min kr 30 | kr 55 + 0.65% | -49% ✯✯✯ |
| CZK | 0.70% min kr 16 | kr 6 + 0.40% | -41% ✯✯✯ |
| DKK | 0.50% min kr 10 | kr 12 + 0.35% | -25% ✯✯ |
| EGP | kr 20 + 1.00% | kr 25 + 0.75% | -23% ✯✯ |
| GEL | 1.00% min kr 7 | kr 8 + 0.70% | -28% ✯✯ |
| HKD | 0.50% min kr 10 | kr 15 + 0.45% | -4% |
| HRK | 0.70% min kr 13 | kr 17 + 0.50% | -24% ✯✯ |
| HUF | 0.70% min kr 12 | kr 9 + 0.40% | -40% ✯✯✯ |
| IDR | kr 11 + 1.00% | kr 15 + 0.55% | -43% ✯✯✯ |
| ILS | 1.00% min kr 25 | kr 23 + 0.60% | -35% ✯✯✯ |
| JPY | 0.50% min kr 10 | kr 27 + 0.50% | 11% ☹ |
| KES | kr 25 + 0.70% | kr 27 + 0.65% | -6% |
| LKR | 1.00% min kr 8 | kr 15 + 0.55% | -42% ✯✯✯ |
| MAD | 1.50% min kr 26 | kr 23 + 0.80% | -44% ✯✯✯ |
| MXN | 1.00% min kr 13 | kr 11 + 0.45% | -53% ✯✯✯ |
| MYR | 0.70% min kr 15 | kr 22 + 0.50% | -22% ✯✯ |
| NGN | kr 20 + 0.50% | kr 8 + 0.50% | -4% |
| NPR | kr 16 + 1.00% | kr 78 + 0.50% | -36% ✯✯✯ |
| NZD | 0.70% min kr 17 | kr 9 + 0.35% | -47% ✯✯✯ |
| PEN | 1.50% min kr 25 | kr 32 + 1.05% | -26% ✯✯ |
| PHP | kr 22 + 0.95% | kr 23 + 0.50% | -45% ✯✯✯ |
| PKR | 1.00% min kr 22 | kr 22 + 0.45% | -51% ✯✯✯ |
| PLN | 0.50% min kr 10 | kr 7 + 0.40% | -17% ✯ |
| RON | 1.00% min kr 20 | kr 10 + 0.45% | -53% ✯✯✯ |
| RUB | 1.50% min kr 26 | kr 22 + 0.60% | -57% ✯✯✯ |
| SEK | 0.50% min kr 10 | kr 8 + 0.35% | -27% ✯✯ |
| SGD | 0.50% min kr 10 | kr 11 + 0.35% | -26% ✯✯ |
| THB | kr 11 + 1.00% | kr 29 + 0.50% | -45% ✯✯✯ |
| TRY | 1.00% min kr 11 | kr 17 + 0.55% | -42% ✯✯✯ |
| UAH | kr 5 + 2.50% | kr 5 + 1.35% | -46% ✯✯✯ |
| VND | 1.50% min kr 34 | kr 20 + 0.80% | -44% ✯✯✯ |
| ZAR | kr 161 + 0.70% | kr 96 + 0.50% | -32% ✯✯✯ |
*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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