Q3 2022 Mission Update: Price

Martina Presnajderova

In the 3rd quarter of 2022 some of our costs changed. This unfortunately led to an increase in our average fees - from 0.61% to 0.64%.

Overall in Q3 2022, we:

  • 😞 Had to increase fees on sending from USD, CHF, CAD, JPY, HUF, MYR, TRY, INR, PLN, CZK, SEK, DKK, NOK, RON and sending to USD, INR, THB, PHP, IDR, MYR, MXN, PLN, PKR, KRW, VND, MAD, HUF.
  • 🥳 Decreased fees on sending to China, Chile and Brazil
  • 🥳 We previously charged you for holding EUR in your Balance, now we removed this fee.

mission update price

More on increases

Why is this happening:

  • Unfortunately, markets have been more volatile recently, which makes it more expensive for us to buy and sell currencies — so we need to raise our fees to cover those costs.

  • We continue to sustainably invest in our infrastructure so you can move money faster and more conveniently. We need to reflect this in our price today, to help us bring down the cost of moving money in the future.
    We know that this isn't great news, and we're sorry about that. We'll try to bring our fees back down as soon as we can.

How we decreased fees

On a good note - we did decrease fees on some of our currencies.

We dropped our fees to send money to Chile because we got a new partner to help deliver your transfers.

We’ve also lowered the fees to send money to China via Weixin. We can do this because we negotiated a 9 month price drop with our banking partner.

Additionally due to us now being able to send to Brazil under our own licence, we were able to bring our costs down there too.

Whenever our costs go down, we pass the savings back to you.

What does this mean for you ?

You can see below couple examples of change in price this quarter:

Sending 1,000 USD to EUR

price update

Sending 1,000 GBP to USD

price update

Sending 1,000 EUR to PHP

price update


*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.

Money without borders

Find out more
News

Q4 2023 Mission Update: Speed

Speed In Q4, 61% of our transfers were instant, meaning they were completed in under 20 seconds. That’s an increase of 1% from Q3. What's changed? We’ve been...

Amy Dicketts
16.01.24 1 minute read
News

Wise Platform Mission Update Q2 2023

It was another busy quarter for Wise Platform; from exciting partnership announcements, to podcast deep dives and a whole European tour of conferences,...

Wise
20.07.23 6 minute read

Tips, news and updates for your location