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...
We've lowered our fees to send money to IDR, MYR, PHP, and PKR 🎉
Last month, we dropped our fees to send money to IDR, MYR, PKR, and PHP.
We’ve done this because it’s the right thing to do. When people and businesses switch to TransferWise, we get closer to achieving our mission of money without borders: instant, convenient, transparent, and eventually free. That means that we can pass the savings on to you.
Our fees have gone down by up to 37%
We’ve already dropped our fees, this means you can already send more for less, no matter what amount you send to IDR, MYR, PKR or PHP.
For reference, here are the fees to send 1000 GBP to Indonesia (IDR), Malaysia (MYR), Pakistan (PKR), and Philippines (PHP).
New fees
| Send £1,000 to | Old fee | New fee | |
|---|---|---|---|
| Pakistan (PKR) | £ 14.54 | £ 9.04 | ⬇️ 37% |
| Indonesia (IDR) | £ 6.41 | £ 5.24 | ⬇️ 18% |
| Malaysia (MYR) | £ 6.86 | £ 5.60 | ⬇️ 18% |
| Philippines (PHP) | £ 5.66 | £ 5.20 | ⬇️ 8% |
(The old and new fees are based on the exchange rate on 4th Feb, 2020)
You can log in to use the calculator or check our pricing page to see how the changes will affect the transfers you make.
2. Why fees are going down
When we opened for business, we based our fees on how much transfers cost us to process.
Since then, we’ve gained a lot of customers, and they've driven our costs down on many transfer amounts and routes. At the same time, we've gotten better at what we do, and that's brought our costs down too.
We’ve used those savings to lower our fees where we can, which means most of you will be able to send money for even less.
*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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