How Wise Fees Work
A Wise transfer fee has just two parts: a small percentage of the amount you're sending, plus a low fixed fee. That's it. There's no exchange-rate markup, no monthly fee, and nothing waiting in the fine print.
The percentage usually lands between 0.33% and about 2%, depending on the currency route and how you fund the transfer. For the most common pairs it sits near the bottom of that range. Send $1,000 to euros and you'll pay roughly $5 total — and every cent of that is shown on screen before you confirm.
Compare that to a traditional bank wire, where the same transfer might cost $25-$50 up front and another 2%-5% hidden in a worse exchange rate, and you can see why Wise grew the way it did.
The whole pitch in one line
Wise makes its money on the fee you can see, not the rate you can't. That single design choice is the entire reason it's cheaper than a bank for most international transfers.
The Mid-Market Rate (Where the Savings Live)
The mid-market rate is the real exchange rate — the midpoint between buy and sell prices that banks use with each other, and the number you see on Google or Reuters. Wise gives you that exact rate. Most banks and money-transfer apps don't.
Instead, they quote you a slightly worse rate and keep the difference. That gap — the markup — is typically 2%-5%, and because it's baked into the rate rather than shown as a fee, most people never notice it. On a $5,000 transfer, a 3% markup is $150 gone, invisibly.
Wise charges 0% on the rate. So when you compare it to a "no fee" bank transfer, remember the bank's real cost is hiding in the rate — and Wise's isn't hiding anywhere.
Typical Fees by Currency Route
Wise's percentage isn't one flat number — it depends on the corridor. As a rough map (funded by bank transfer; check the live calculator for your exact pair):
| Route type | Examples | Typical fee |
|---|---|---|
| Major pairs | USD → EUR, GBP, AUD, CAD | ~0.45%-0.65% |
| Large remittance corridors | USD → INR, PHP, MXN | ~0.5%-0.9% |
| Exotic / restricted | → PKR, NGN, BRL, GHS | ~0.7%-2% |
Get the exact cost for your amount and currency in seconds:
Card vs Bank: How You Pay Matters
How you fund the transfer changes the fee, sometimes a lot:
- Bank transfer (ACH): the cheapest option, every time. Slower by a day or two, but it's where the low headline fee comes from.
- Debit card: a bit more, in exchange for an instant transfer. Fine for small, urgent sends.
- Credit card: the most expensive, because the card networks charge Wise extra and it passes that through — plus your card issuer may treat it as a cash advance.
Rule of thumb: for anything large, fund by bank and wait the extra day. Save the card for small transfers where speed genuinely matters more than a few dollars.
Wise vs a Bank Wire
Put a $2,000 transfer to Europe side by side and the gap is stark:
- Wise: ~0.5% + a small fixed fee at the mid-market rate ≈ $10-11 total.
- Typical bank wire: a $30-$45 wire fee plus a ~3% rate markup (about $60) ≈ $90-100 total.
That's the 70%-90% saving Wise is known for, and almost all of it comes from the exchange rate, not the visible fee. The bank's "$35 wire fee" was never the real cost.
Other Wise Fees to Know
Beyond sending money, the Wise account has a few other charges worth knowing:
- Wise card: a one-time fee to order the debit card (around $9 in the US); spending in a currency you hold is free, and conversion uses the mid-market rate.
- ATM withdrawals: a set amount is free each month; beyond that there's a small fixed fee plus a small percentage.
- Holding & converting balances: holding most currencies is free; converting between them costs the same small percentage as a transfer.
- Receiving money: getting paid in major currencies is generally free with your local account details, though some wire-in methods carry a small fee.
How to Pay Even Less
- Fund by bank, not card. The single biggest lever — ACH is always the cheapest way in.
- Send larger amounts less often. Because part of the fee is a percentage, fewer big transfers usually beat many small ones once you account for any fixed fee.
- Hold the currency in your balance. If you send to the same currency regularly, convert when you like the rate and hold it, rather than converting on every transfer.
- Compare the corridor. For exotic routes near the 2% end, it's worth checking a specialist against Wise — sometimes another service wins on that specific pair.
Always check before you send
Wise shows the full fee and the rate upfront, but the number changes with the amount, currency, and funding method. Run your exact transfer through the calculator so there are no surprises.
Frequently Asked Questions
How much does Wise charge to send money?
A small percentage of the amount plus a low fixed fee, at the real mid-market rate with no markup. The percentage usually runs from about 0.33% to 2% depending on the route and how you pay — a $1,000 transfer to euros costs roughly $5 in total.
Does Wise add a markup to the exchange rate?
No. Wise uses the mid-market rate you see on Google or Reuters, with no markup. All its profit comes from the visible upfront fee — the opposite of banks that hide a 2%-5% margin in a worse rate.
Is it cheaper to pay by bank or card?
Bank transfer (ACH) is cheapest. Debit cards cost a little more for instant speed, and credit cards are the most expensive because the networks charge Wise extra. For large transfers, always fund by bank.
Why is Wise cheaper than my bank?
Banks make most of their money on a hidden 2%-5% rate markup on top of a $20-$50 wire fee. Wise charges neither — the mid-market rate and one small visible fee usually come out 70%-90% cheaper than a bank wire.
Are Wise fees the same for every currency?
No. Major pairs like USD to EUR or GBP are cheapest (~0.45%-0.65%), big remittance corridors are a little higher, and exotic or restricted currencies can reach 2%. Check the live calculator for your exact pair.
Key Takeaways
- Wise = small percentage + fixed fee, at the mid-market rate with no markup.
- The fee runs ~0.33%-2% by corridor; major pairs are cheapest. ~$5 on a $1,000 EUR transfer.
- Bank/ACH funding is cheapest; credit card is the most expensive.
- Usually 70%-90% cheaper than a bank wire — the saving is mostly the missing rate markup.
See Your Exact Wise Fee
Wise's pricing is about as honest as it gets, but the exact number still depends on your amount, currency, and how you pay. Run your real transfer through the calculator, fund it by bank, and you'll keep almost all of what a bank would have quietly taken.