Paying your friend back for that scotch egg just got cheaper

Arnaud De Moyer
08.09.21
1 minute read

Or sausage roll, or whatever you grab to eat with friends in the UK. Because from 7 September 2021, we’re removing the payout fee for sending GBP from your balance to other accounts in the UK. This’ll make it cheaper for 99.9% of our UK customers — based on how accounts were used in the last 12 months.

Right now, it’s for UK account holders only but we’re working on the rest of the world.

Why now?
We’re the world’s most international account. But that doesn’t mean we should ignore people who use Wise like a home bank account too.

Especially because feedback from customers showed us that the fee for same-currency payments was becoming a barrier for people. In particular, when it comes to using the Wise account as a main account. So slashing fees went up our to-do list.

What’s changing?
Before

  • Sending GBP from your GBP balance would cost you 32p.

From 7 September 2021

  • You’ll get 50 fee-free GBP transfers from your GBP balance per month.
  • Once you go over the limit you’ll be charged 32p per transfer.

Please note that transfers to other currencies will still come with our low conversion fees and same-currency transfers in other currencies like EUR will still have a payout fee.

Wise is the smart, new way to send money abroad.

Find out more
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