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Mission update Q4

We're building money without borders — making it move faster, more conveniently, and eventually for free. Here's how much closer we got in September to December 2021.

To our 11 million customers,

Here are the money borders we lowered in Q4.

Fees are now lower for 2.7 million of you, meaning better deals on over 50 currencies. And 45% of all transfers arrived instantly. Our Wise card and account landed in three new countries too — that's you Brazil, Canada, and Malaysia!

Sending and receiving money got easier as well. Auto Conversion launched in beta and links to get paid were rolled out for everyone! Less time bugging friends for their bank details, more time for the good stuff.

Scroll on to get the full lowdown.

Becoming cheaper, faster and more convenient.

customers got cheaper fees
2.7m
transfers arrived <20 secs
45%
moved in last quarter
£20.6bn
received into Wise accounts
£8.4bn

Our lowest fees in four years.

Our average fee dropped to 0.6%.

Last quarter, we lowered fees on 5 currencies meaning our average fee dropped to the lowest it’s been in four years to 0.60% (down from 0.62% in Q3 2021).

Throughout the year we dropped fees on a total of 50 currencies! So 2.7 million customers sent money for less in 2021 compared to 2020.

Read more on the blog
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How did we drop fees?

1. New payment methods

We separated the fees between different payment methods, so you can save more money via transferring to your card.

2. Lowering partner costs

We renegotiated some of our costs with existing partners, like in Japan. We then passed on savings to customers.

3. New integrations

New local integrations in Mexico brought costs down. So, as always, we passed these savings on to customers.

Sending money should be as fast as an email.

45% of transfers are instant — faster than ever.

We hit record highs for the number of transfers arriving in under 20 seconds (up from 40% in Q3 2021).

We did this by reaping the rewards from our work in Q3, like resolving technical issues that were causing delays on transfers sent to India, and partnering with vendors to speed up our financial crime checks by 45%.

We didn’t manage to launch instant payments in Brazil last quarter due to technical challenges. Fingers crossed for 2022.

Read more on the blog
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One account to fix international banking.

We launched in Brazil, Malaysia, and Canada.

Last quarter, we took Wise even more global. Incredibly, Wise is now available across five continents and 40+ countries.

We started rolling out the Wise card in Brazil. We're still working on making it available for everyone, so sign up to the waitlist to get notified once it's live.

Our multi-currency account and Wise card launched in Malaysia too! And last but not least, we finally launched the Wise card in Canada. So spending in different currencies doesn’t have to come with moose-size markups.

Don’t forget to add your Wise card to ApplePay. Open the Wise app > tap Account > add card to Apple Pay. Voilà.

Learn more
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The real exchange rate — now and forever.

Our international transfer webpage got an upgrade.

We redesigned and stripped back content on our international transfer webpages — so it’s easier to find the information you need, and compare us with competitors. Because transparency’s our middle name.

To check the real exchange rate, understand fees, or to see how long your transfer is likely to take — this page is the place to be.

Send money
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Businesses are booming.

Your team can order and manage debit cards.

Team members assigned the ‘employee’ role on your business account can now order their own debit cards, and manage them on their phone.

They can spend up to a pre-set limit and view their own activity. And will get notifications to keep track of their spending too.

Reduce admin hassle at the end of the month by allowing your team to upload receipts and add notes as they spend.

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More Wise power to the people.

1. ANZ’s first multi-currency direct debit network

GoCardless and Wise now enable Aussie and Kiwi businesses to collect payments from 30 countries and 8 currencies. No need to have a separate bank account in every market or rely on expensive credit cards.

2. Libeo powered by Wise

Cloud-based payments solution, Libeo, integrated with the Wise API to offer international payments. Customers can seamlessly pay invoices around the world, directly from their Libeo account.

3. Royalty management with Eddy

Royalty management platform, Eddy, integrated with Wise so users can view the royalties they owe to artists and collaborators. Users can make batch payments to multiple currencies.

4. Online invoicing with Billingo

One of Hungary’s largest online invoicing platforms can now offer their 85,000 customer Wise’s cheaper international transfers. Customers can also pay bills and track Wise account activity from within the Billingo app.

5. Faster transfers for the US Armed Forces

Banking services provider to the Armed Forces, Andrews Federal, integrated with the Wise API so their members no longer rely on wire transfers and in-person transactions to send money abroad.

6. Partnering with AirAsia

One of Asia’s leading airlines has added international transfers from Wise to the line up of services. The first phase of the partnership provides Malaysian customers a way to send money with Wise.

7. EFT Direct Debits in Canada

Wise Platform partners can now offer customers a way to fund their transfers within a platform using EFT Direct Debits. No more disjointed customer experiences between setting up a transfer and funding it.

8. ACH Direct Debits in US

Wise Platform partners in the US can now offer customers a way to fund their transfers within their user experiences, using ACH Direct Debit.

We hate to keep you waiting.

platform uptime
99.856%
customers verified < 1 hr
86%
transfers arrive on time
83%
queries answered on time
59%

See how we compare to Q3 2021

Read the Q3 update