Expats in China, welcome to Wise!
We're excited to announce that Wise is launching a transfer service to help expats to send money from China.* Wise now supports Chinese Yuan (CNY) transfers...
Cheaper, simpler and instant transfers to HKD
FPS: Simpler and quicker transfers to HKD
Say goodbye to complicated bank details and hello to FPS ID!
This month, we’ve made sending money to HKD a whole lot more convenient. Recipients in Hong Kong can now receive money from abroad using their Faster Payments System (FPS) ID - and we’re the first international money transfer service to launch this.
If you’re sending money to HKD, you can now do so to your recipient’s FPS IDs on Wise. The FPS ID can be a mobile number, email address or unique FPS ID, depending on your recipient. If you’re living in Hong Kong and need to receive HKD, you can now do so easily.
How to send money to FPS ID?
Before getting started, get your recipient’s FPS details - you’ll need their name with either mobile number, email address or unique FPS ID. All individuals and businesses living in Hong Kong registered for FPS with their banks will benefit from this.
- Set up a transfer on Wise
- Add a recipient and choose your recipient type - you can send to individuals and businesses’ FPS ID
- Enter their FPS details
- Review the details and confirm your transfer
Pay for your transfer and it’s done! Once we’ve received your payment, the money will be sent to your recipient instantly.
Cheaper transfers to and from HKD
Last month, we dropped our fees to send money to and from HKD! When individuals and businesses switch to Wise, we get closer to achieving our mission of money without borders: instant, convenient, transparent, and eventually free. Because scaling our costs means we can pass the savings on to you.
Our fees have gone down by up to 18%
You can now send more for less, no matter what amount you send from HKD and to HKD.
From HKD: Fees to send 1,000 HKD to GBP, EUR and USD.
| Send 1,000 HKD to | Old fee | New Fee | Price drop |
|---|---|---|---|
| GBP | $9.68 | $8.05 | -17% |
| EUR | $8.87 | $7.25 | -18% |
| USD | $14.57 | $12.95 | -11% |
To HKD: Fees to send 500 GBP, EUR and SGD to HKD
| Send from | Old fee | New fee | Price drop |
|---|---|---|---|
| 500 GBP | £2.50 | £2.42 | -3% |
| 500 EUR | €3.06 | €2.97 | -3% |
| 500 SGD | $3.39 | $3.24 | -5% |
(The old and new fees are based on the exchange rate on 15th Mar, 2020)
You can log in to use the calculator or check our pricing page to see how much you can save from these price drops.
Why fees are going down
When we opened for business, we based our fees on how much transfers cost us to process.
Since then, so many of you have made the move to Wise and that allowed us to drive our costs down on transfer amounts and routes. We’ve also gotten better at what we do so whilst more customers joined our mission, we continued to keep our costs as low as possible. And finally, our bank partners are more closely aligned with our mission and that's brought our costs down too.
We’ve used those savings to lower our fees where we can, which means all of you will be able to send money for even less.
Our mission is to be instant, transparent and eventually free
While we’re still on a mission to achieve this for all our customers, we’re working to ensure that we offer the lowest prices in the market and that we’re always transparent about our fees. We’ll also ensure that you get the live exchange rate, like the one you see on Google.
*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.
Money without borders
Find out more
Now sending money from HKD can be instant!
We have some exciting news to share with you - sending money from HKD via bank transfer to our new bank account can now be instant! Yes, you read that right,...
Send CNY to businesses in China
Doing business with vendors or suppliers in China? You can now pay them in Chinese Yuan (CNY), also known as Renminbi (RMB). Instead of having your vendors...
World, meet Wise
Today, we’re changing our name from TransferWise to Wise. Our customers now need us for more than money transfers. Sending, spending, and receiving money...
We're waiving fees on $20,000,000 in donations to COVID-19 research
The COVID-19 pandemic has quickly become one of the biggest global health issues we’ve seen in our lifetimes. Four months on from initial responses, we’re in...
Send money to your friends on Wise
The year’s 2020. You need to pay a colleague back for a dinner you shared in London. But she’s in Spain. And you haven’t got her bank details, let alone an...
