February fee review — here’s what’s changed
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...
Our exchange rate in Ukraine
We want to continue providing service to Ukraine for as long as we possibly can. That’s why we’re temporarily changing how we calculate the exchange rate for sending money to Ukraine — and we want to be transparent about why.
What’s changing?
We’re temporarily using the exchange rate set by the National Bank of Ukraine to calculate the rate for transfers to Ukraine. Here’s what that means:
- When you transfer USD to UAH, we’ll use the exchange rate set by the National Bank of Ukraine.
- When you transfer money from a different currency (for example EUR or GBP), we'll determine the equivalent value in USD using the mid-market rate set by Reuters or XE. Then, we’ll use the exchange rate set by the National Bank of Ukraine to convert that amount to UAH.
Because of this, we unfortunately won’t be able to guarantee the rate of your transfer.
Why are we doing this?
Exchange rates are still volatile and our sources to determine the mid-market rate, such as Reuters or XE, have become inaccurate. So changing the way we calculate the rate allows us to continue providing our service to send money to Ukraine.
To stabilise the market, the Central Bank of Ukraine has decided to set a fixed rate for currency transactions in March. So between March and July, we’ve temporarily used the exchange rate set by the National Bank of Ukraine to calculate the rate for transfers to Ukraine.
We’re monitoring the market and will share updates if this changes.
*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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