The Real Cost of Sending £1000 to Euros

How much does it cost to send £1,000 to Euros?

£5.00. If you use Wise.

If you use your bank, it could cost up to £45.67 in hidden charges. Ouch.

Here are the numbers:

The red bit? That's the hidden charge no-one tells you about. Until now.

But my bank is much cheaper than this?

While your bank may appear cheaper upfront, it's important to check the exchange rate.

Some banks may add a markup to the exchange rate they offer you, which means you could be paying hidden charges.

Even if you're only paying £4 upfront to the bank, the amount you receive on the other end may be less than you expect.

If you're unsure, use the calculator on the Wise homepage. It will show you exactly how much you'll get for your transfer - and you can compare that to your bank.

So how is Wise cheaper?

At Wise we're all about transparency. No hidden charges. No nasty surprises.

Wise uses a mid-market exchange rate and charges a low, transparent fee. That's why it's cheaper.

It's only fair. It's your money.

The mid-market exchange rate is the same one you see on Google. Don't accept anything else.

Can I look at the data?

Sure.

The above graph was created using data collected from the surveyed banks' websites between May 27th 2016 and June 1st 2016. The survey compared sent amount of £1,000.00 to Euros, paying with bank transfer and receiving with a bank account (including fees).

For anyone interested, read the full details on how we determine bank fees.