There are 3 types of transfers you can use to send GBP through Wise directly: Low cost, Fast and easy, and Advanced.
Low cost transfer
This type of transfer is for customers who want the most from their money.
For most people, these transfers are harder to make. They also take longer to pay for, because you need to send the money to us as a separate transaction.
You can do this using a manual bank transfer, or by using the money in your currency accounts. Both these methods are inexpensive to process, and we don't need to do extra work to speed up your transfer. As a result, we can offer Low cost transfers at a cheaper price.
Fast and easy transfer
This type of transfer is the most convenient way to send money abroad with Wise. It’s also faster to set up — you just need to type in your card details, or use Apple Pay or Google Pay.
When you pay by card or mobile wallet, it costs us more to process your transaction.
Your money isn't sent to us instantly — we need to do some extra work to speed it up.
You get extra support from us to keep your money safe if you're unlucky enough to have your card used fraudulently.
These things make Fast and easy transfers more expensive. But we don't make any more profit, it simply covers the extra costs associated with this type of transfer.
Advanced transfer
This type of transfer is for sending money from a GBP bank account that’s not in the UK, a EUR bank account that’s not in Europe, etc. Advanced transfers use the SWIFT payment network — and your bank will probably charge a fee for that. This makes them an expensive way to send money.