News Team update

Q1 2022 Mission Update: Price

Martina Presnajderova

05.05.22 (updated more than 1 year ago)

Read time 1 minute

In Q1 we rolled out several changes on fees:

We decreased fees when you send money to United Arab Emirates, South Africa, Kenya and Ukraine.
Additionally, processing cost changed for us on some convenient pay-in methods - therefore we needed to change fees on several currencies when you fund your payment via Credit / Debit card - we increased fees on for example USD or EUR. On good note - on some other currencies we were able to take fees down (such as sending from Australian dollar).
Lastly, unfortunately due to volatility in markets in Turkey led us to increase fees when you send to Turkish Lira.

In Q1, 189k customers got cheaper fees, while 634k experienced a fee increase. Overall this led to our average fee to increase from 0.60% to 0.61%.

Here are some of our changes in numbers, the changes in fees on equivalent of sending £1.000:

	Differnce in fees, ££	Difference in fees %	For example if you send...
Sending GBP Low cost to KES	- £0.9	-9.4%	.. sending £1k GBP Low cost to KES, you save £0.9, 9.4% decrease.
Sending Sending GBP Low cost to AED	-£5.8	-47.4%	.. sending £1k GBP Low cost to AED, you save £5.8, 47.4% decrease.
Sending GBP Low cost to ZAR	-£1.3	-11.5%	.. sending £1k GBP Low cost to ZAR, you save £1.3, 11.5% decrease.
Sending GBP Low cost to UAH	-£10.8	-66.5%	.. sending £1k GBP Low cost to UAH you save $10.8 , 66.5% decrease.
Sending AUD Debit Card to GBP	-£1.4	-14/9%	.. sending 1.75k AUD via Debit Card to GBP, you save £1.4, 14.9% decrease.
Sending NOK Consumer Fast & Easy to GBP	-£0.5	-7.0%	.. sending 11.34k NOK via Consumer Fast and Easy to GBP, you save £0.5, 7% decrease.
Sending DKK Consumer Fast & Easy to GBP	+£0.5	+5.8%	.. sending 8.93k DKK via Consumer Fast and Easy to GBP, fee increases £0.5, 5.8% increase.
Sending USD Consumer Debit to GBP	+£0.8	+4.7%	.. sending 1.32k USD via Consumer Debit to GBP, fee increases £0.8, 4.9% increase.
Sending GBP Low cost to TRY	+£4.4	+66.1%	... sending £1k Low Cost to TRY, fee increases £4.4, 66.1% increase.

Low cost = sending money from your bank account
**Fast & Easy **= send money from your debit or credit card

*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.

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