Our mission to zero fees — an update.



When we started TransferWise, we were clear about what we wanted to do: build a better way of sending money internationally. From personal experience, we knew it was a big, broken and greedy system — one that could be better and fairer in every way.

We knew that our banks were marking up the exchange rate. We knew they weren’t being transparent about it. And we wanted to do things differently.

So we promised never to mark up your exchange rate. We charged a transparent fee of 0.5%. And our mission was to make sending money internationally as simple, quick, and cheap as sending an email.

Today, we got one step closer to achieving it.

75% of UK customers will be offered a price drop from today

We’ve done this because it’s the right thing to do — because we can, and because if we don’t take a stand in lowering the cost of sending money internationally, no one else will. You can see all the new prices at the end of this post.

Here’s how we’ve done it...

Firstly, we’ve dropped the percentage fee on nearly all our routes

The first part of your fee is expressed as a percentage of the amount you’re sending. Today, we cut this percentage fee on all but three routes from the UK.

So if you’re sending money from the UK to the Eurozone and Switzerland, your fee dropped from 0.5% to 0.35%. If you’re sending money to America, your fee dropped from 0.5% to 0.4%. And if you’re sending from the UK to Australia, your fee dropped from 0.7% to 0.45%.

And we’ve replaced the £2 minimum fee with a flat transaction fee

There was also a £2 minimum fee on lots of our routes from the UK. It made sending small amounts too expensive, so we got rid of it. Instead, every transfer now has a flat transaction fee, as well as the usual percentage fee.

On lots of routes, the new flat fee is lower than the old £2 minimum. On some, it’s as little as 50p. It should be especially helpful for those of you who make small transfers — overall, they’ll be cheaper.

But it’s not all good news

For those of you making medium-sized transfers, the new flat fee might make them more expensive. We know it’s not the best news. But it is the lowest sustainable fee we can offer at the moment. Plus, it more accurately reflects the real cost of making medium-sized transfers, so it’s fairer.

There’s also bad news for people sending money to Bulgaria, Hong Kong, Turkey, Philippine, Poland and few other countries (see table below). At the moment, our other, busier routes are subsiding these ones. So on January 1st, prices here will increase slightly for most amounts. It will allow us cover our costs, and keep the routes open.

In all cases, we’re committed to getting the cost of your transfers back down as soon as we can. Rest assured that we won’t stop until we’ve managed it.

GBP cheaper than ever

You make TransferWise

The more people that use TransferWise, the cheaper and faster it’ll get. And you can help. Think of your friends, colleagues, in-laws, clients, business partners — whoever you know who moves money between countries. Help them get started on TransferWise by giving them their first transfer for free.



Note: When we first published this blog, some of our customers told us it wasn't clear. So we've edited it for clarity.

Routes with the biggest price drops

Currency routeOld feeNew feePrice decreasing by up toSee details
GBP to EUR0.5% (min £2)80p + 0.35%⬇️ 30%View details
GBP to USD0.5% (min £2)80p + 0.4%⬇️ 20%View details
GBP to INR0.7% (min £2)50p + 0.55%⬇️ 21%View details
GBP to AUD0.7% (min £2)£1 + 0.45%⬇️ 36%View details
GBP to NZD0.7% (min £2)£1 + 0.55%⬇️ 21%View details
GBP to CHF0.5% (min £2)£1 + 0.35%⬇️ 30%View details
GBP to SEK0.5% (min £2)80p + 0.4%⬇️ 20%View details
GBP to DKK0.5% (min £2)80p + 0.4%⬇️ 20%View details
GBP to NOK0.5% (min £2)£1 + 0.4%⬇️ 20%View details
GBP to AED1% (min £2.27)£2 + 0.8%⬇️ 20%View details
GBP to CNY1.5% (min £2.76)£1 + 1.25%⬇️ 17%View details
GBP to RUB1.5% (min £2.62)£1.50 + 0.95%⬇️ 37%View details
GBP to MAD1.5% (min £2.42)£1.50 + 1%⬇️ 33%View details
GBP to MXN1.5% (min £2)£1 + 0.75%⬇️ 50%View details
GBP to UAH5% (min £3.19)£1 + 4.15%⬇️ 17%View details
GBP to LKR1% (min £2)£1.50 + 0.75%⬇️ 25%View details
GBP to KRW1.5% (min £2)£1 + 1.25%⬇️ 17%View details
GBP to ILS1% (min £2)£2+0.8%⬇️ 20%View details
GBP to NGN£1 + 0.5%£1 + 0.4%⬇️ 20%View details

Routes with price drops for a majority of amounts, as long as you pay by bank transfer

Currency routeOld feeNew fee
GBP to HUF0.7% (min £2)£1.20 + 0.6%
GBP to CAD0.5% (min £2)80p + 0.45%
GBP to BRL1.5% (min £2.39)£1 + 1.4%
GBP to CZK0.7% (min £2)80p + 0.6%
GBP to THB£1.5 + 0.6%£1.50 + 0.55%
GBP to ZAR0.7% (min £16.35)£12 + 0.65%
GBP to IDR£1 + 0.7%£1 + 0.65%
GBP to BDT£2 + 1.3%£2 + 1.25%
GBP to VND1.5% (min £3.17)£1.50 + 1.35%
GBP to KES£2 + 0.70%£2 + 0.65%
GBP to PEN1.5% (min £3)£1 + 1.4%

Routes where we’ll increase price on January 1, but we're committed to dropping it in the future

Currency routeOld feeNew feePrice sometimes increasing by up to
GBP to PLN0.5% (min £2)80p + 0.55%⬆️ 50%
GBP to BGN0.7% (min £2)80p + 0.9%⬆️ 68%
GBP to HKD0.5% (min £2)£1.50 + 0.55%⬆️ 70%
GBP to PHP1% (min £2.14)£2 + 0.9%⬆️ 78%
GBP to TRY1% (min £2)£2 + 0.9%⬆️ 90%
GBP to RON1% (min £2)£1 + 0.9%⬆️ 40%
GBP to GEL1% (min £2)£1 + 0.95%⬆️ 45%
GBP to HRK0.7% (min £2)£1.20 + 0.65%⬆️ 51%
GBP to PKR1% (min £2.3)£1.75 + 0.9%⬆️ 54%
GBP to MYR0.7% (min £2)£1.50 + 0.6%⬆️ 58%
GBP to SGD0.5% (min £2)£1.50 + 0.45%⬆️ 65%

*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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