Right now, Stocks is only available to UK residents and most businesses that are tax resident in the UK. We’re working on expanding it to more customers, and we’ll let you know when we’re done.
When you hold your money as stocks you pay two fees: a service fee and a fund fee.
What’s the service fee?
We charge the service fee. This is an annual fee of 0.4% which we charge as a monthly fee of 0.033% (that's 0.4% divided by 12). We calculate it daily based on the amount you hold as stocks in your Balances and Jars — and we charge it on the 1st day of the following month.
We’ll always take the service fee from a Balance — we don’t charge the fee to Jars. Jars are designed to help you keep money where it can’t be withdrawn accidentally. The only way you can use money in Jars is to move it out yourself.
This means if you hold a Jar as stocks, we’ll charge the fee to your Balance that’s in the same currency. This Balance can be held as Cash or Stocks. So, if you have a Jar held as Stocks in GBP, we’ll charge the fee to your GBP balance.
And if you don’t have enough money in that Balance to pay the fee, we’ll take it from another Balance that does have money in it.
What’s the total fee?
For example, if you'd invest 1000 GBP in our Stocks fund and leave it there for one year (and assuming the fund would not increase/decrease in value), you'd pay a total fee of around 5,50 GBP. This would be a combination of the fee Wise charges, and the fee charged by the fund manager.
What’s the fund fee?
BlackRock charges the fund fee. The fund fee is 0.15% annually. It’s automatically reflected in the value of your investment, so you won’t see it charged to your account as a separate fee.
You won’t pay any other fees
When you hold money as stocks, you won’t pay any fees apart from the service and fund fees.
The Key Investor Information Document mentions an entry fee, but this isn’t charged to Wise customers.
Because we charge a service fee, you don’t need to pay any trading fees to cover your investment transactions.
And while the fund’s currency is EUR, you won’t pay a conversion fee if your account or Jar is held in another currency.
You’ll only pay a conversion fee if you add money to your account or Jar and it’s in a different currency. This is the same fee we always charge for converting currencies.