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...
Q4 2021 Mission Update: Price
In Q4, sending money got cheaper 🎉
- Our average fees dropped by 0.02%, to our lowest level in 4 years. We ended the year with an average fee of 0.60%
- Since we were able to decrease fees on an additional 5 currency routes this quarter, 2.7 million customers sent, spent, or received money with lower fees in 2021 compared to 2020.
Which routes have new fees?
In Q4, we lowered fees for sending money to Japan, Ukraine, and Thailand.
Additionally, our teams lowered our costs for sending money to Mexico, which let us bring those fees back down close to the levels they were at before we had to raise them in Q2 2021.
Fees are now also lower when you convert from Philippine peso in your Wise account, and sending money from Malaysia will be cheaper for the majority of you. (If you’re a Malaysian resident, we need to charge a 6% Sales and Service Tax (SST) when you send money from MYR, so transferring to certain currencies might come with a slight increase in fees for you.)
After a year of price drops...
Lowering fees is a key part of our mission to eventually make Wise free for our customers.
Overall, in 2021:
- We dropped fees on 50 currencies
- These lower fees will make it cheaper for you to send money from 16 currencies (like sending money from USD or BRL), and to 34 currencies
- Unfortunately, we also increased fees on sending money to 2 currencies
Read more about our mission, or see how much you’ll save after a year of price drops in our calculator. Here are some of our routes that benefit the most:
Sending money from USD to Ghana
Sending money from Poland to Ukraine
Sending money from Canada to Japan
*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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