How to withdraw money from Wise to a bank account

If you have an account with Wise (formerly TransferWise), you’ll be able to hold a balance in 50+ currencies, send payments to 80+ countries, and get paid like a local in major currencies like GBP, EUR and CAD as well as USD.

However, what happens when you want to use your balance from Wise to send a payment to someone else, or when you want to withdraw your money back to your regular US bank account?

This guide covers all you need to know, including how to withdraw money to your own bank account, and how to send a payment to another individual or business.

📑 Table of contents
How to withdraw money from Wise to your bank account How to send money from Wise to a bank account that doesn't belong to you How to send money with Wise if you don’t hold a balance in your Wise Account How much does it cost to withdraw money from your Wise Account?

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How to withdraw money from Wise to your bank account

Let’s look first at how to withdraw a balance you hold with Wise to an account in your own name.

1. Log into Wise online or in the Wise app

Open the Wise desktop site, or log in on the app for convenience. You’ll be taken to your account overview where you can check your balance and set up the withdrawal.

2. Select the balance you want to withdraw from

You’ll see the currency balances you have open, and the funds you hold, on the left-hand menu if you’re using the website or along the top of the screen if you’ve logged in using the Wise app. Choose the currency you want to withdraw from, and tap or click.

3. Enter the details of the withdrawal

Click Send — you’ll see it with an arrow icon in the menu — and enter the amount and currency you want to withdraw.

If you’re converting your balance to another currency in order to withdraw it, you’ll instantly see the exchange rate and fee that’ll apply to the withdrawal, and how much you’ll get in the end.

4. Confirm the account you want to withdraw to

Next you’ll need to add the details of the account you want to receive money to, or choose yourself as an existing recipient if you’ve withdrawn funds to that account before.

If you’re withdrawing to the account for the first time just follow the prompts to enter all the details required — this can vary a little depending on the currency, but will likely include:

• The name the account is held under
• The account number
• Bank name
• Other relevant information (such as routing number for USD transfers)

5. Click Send money

Check everything over, and once you’re ready to go, click or tap the Send money option.

Your money will be on the way, and you’ll get a notification when it’s been sent. You can also track your transfer by accessing your account.

➡️ This way to international transfers ⬅️

How to send money from Wise to a bank account that doesn't belong to you

Let’s move onto the process to send money from your Wise balance to someone else, or to a business.

The process is actually very similar to the way you’ll withdraw funds to your own account — and it can all be completed online or in the Wise app in just a few clicks.

Sending money to someone else

Step 1. Log into Wise online or in the Wise app

Step 2. Select the balance you want to send from — this is on the left-hand menu if you’re using the Wise website or on the top of the screen in the app

Step 3. Click Send and enter the amount you want to pay, or the amount you want the recipient to get in the end

Step 4. Follow the prompts to add the recipient’s bank details, or choose an existing recipient if you’ve sent to this account before

Step 5. Check everything over and click Send money — you’ll be notified when your money is on the way, and can also track the payment from within your Wise account

💡Don’t forget, if the person you’re sending to has their own Wise Account, you can also make a Wise to Wise payment which arrives instantly, instead of sending money to their bank.  There’s no fee if you’re sending in the same currency — dollars to dollars for example — and if you need to convert currencies to make your payment you’ll get the mid-market exchange rate with a low, transparent fee from 0.41%*.

Sending money to a business

Step 1. Log into Wise online or in the Wise app

Step 2. Select the balance you want to send from — this is on the left-hand menu if you’re using the Wise website or on the top of the screen in the app

Step 3. Click Send and enter the amount you want to pay, or the amount you want the recipient to get in the end

Step 4. Select Business or Charity to confirm you’re paying an organization rather than an individual

Step 5. Follow the prompts to add the organization’s bank details, or choose an existing recipient if you’ve sent to this account before

Step 6. Check everything over and click Send money — you’ll be notified when your money is on the way, and can also track the payment from within your Wise account

Start sending money now

How to send money with Wise if you don’t hold a balance in your Wise Account

If you don’t hold a Wise balance — or if your balance doesn’t cover the payment you want to make, it’s no problem.

You can still make a regular Wise transfer, and pay with your preferred bank account or card. Here’s what to do:

Step 1. Log into Wise online or in the Wise app

Step 2. Click Send and enter the amount you want to pay, or the amount you want the recipient to get in the end — don’t forget to set both the currency you want to send, and the currency you want the recipient to get

Step 3. Confirm the type of payment — a transfer to an individual, or to a business

Step 4. Follow the prompts to add the recipient’s bank details, or choose an existing recipient if you’ve sent to this account before

Step 5. Check everything over and click Send money — you’ll be notified when your money is on the way, and can also track the payment from within your Wise account

How much does it cost to withdraw money from your Wise Account?

Wise fees vary by the type of transaction you need to make. However, no matter which service you need, you’ll always be able to see the full costs before you confirm, with no surprises and no hidden charges.

We’ll run through some key details next — and you can also get a full view of Wise charges for the US or wherever else in the world you may be, in the Wise fees and pricing calculator.

Fees for making a payment from your Wise balance

Payment type	Variable fee	Fixed fee	Total fee*
Same currency balance withdrawal or transfer	No fee	Low fee, varied by currency.	Calculate in seconds with the Wise fees and pricing calculator
Different currency balance transfer	Low fee, varied by currency from 0.41%	Low fee, varied by currency.	Calculate in seconds with the Wise fees and pricing calculator

Payment type	Variable fee	Fixed fee	Total fee*
Same currency balance withdrawal	No fee	0.39 USD for a withdrawal from USD to USD	0.39 USD for a withdrawal from USD to USD
Same currency balance transfer	No fee	0.39 USD for a transfer from USD to USD	0.39 USD for a withdrawal from USD to USD
Different currency balance transfer	Low fee, varied by currency. For example: 0.47% for a transfer from USD to GBP or EUR	Low fee, varied by currency. For example: 0.37 USD for a transfer from USD to GBP 0.28 USD for a transfer from USD to EUR	Fees vary by currency and payment value. For example: Sending 1,000 USD to GBP: 5.05 USD total fee Sending 1,000 USD to EUR: 4.96 USD total fee

Note: data correct at the time of writing, 12.12.2022

Fees for making a payment funded by card or bank transfer

Payment type	Variable fee	Fixed fee	Total fee*
Send in the same currency	Fee varies by payment method.	Low fee, varied by currency and payment type.	Calculate in seconds with the Wise fees and pricing calculator
Send in a different currency	Low fee, varied by currency and payment type from 0.41%	Low fee, varied by currency and payment type.	Calculate in seconds with the Wise fees and pricing calculator

Payment type	Variable fee	Fixed fee	Total fee*
Send in the same currency	Fee varies by payment method. For USD to USD payments for example: Wire transfer: no fee Bill pay: 0.01% ACH: 0.2% Debit card: 1.37% Credit card: 4.3%	Fee varies by payment method. For USD to USD payments for example: Wire transfer: 6.44 USD Bill pay: 5.88 USD ACH: 2.92 USD Debit card: 2.92 USD Credit card: 2.92 USD	Fee varies by payment method. For example: Sending 1000 USD: 4.94 USD - 46.32 USD total fee
Send in a different currency	Low fee, varied by currency and payment type. For example: 0.48% - 0.67% for a transfer from USD to EUR 0.47% — 4.77% for a transfer from USD to GBP	Low fee, varied by currency and payment type. For example: *0.63 USD - 4.15 *USD for a transfer from USD to EUR 0.73 USD - 3.69 USD for a transfer from USD to GBP	Fees vary by currency and payment value. For example: Sending 1,000 USD to EUR: 7.30 USD - 46.44 USD total fee Sending 1,000 USD to GBP: 7.40 - USD 46.44 USD total fee

Note: data correct at the time of writing, 12.12.2022

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Withdrawing or sending money from your Wise account is easy to do, and can be managed on the move with your smartphone.

You’ll be guided through every step by onscreen prompts — whether you choose to use the Wise app or desktop site — and can see any fees that apply instantly, before you confirm.

Get started with Wise 🚀