Transfer Wise Fees for Sending Money :
The fees for sending money with TransferWise vary depending on the currencies involved, the amount you’re sending, and the payment method you choose. In general, TransferWise charges a small percentage fee of the total amount being transferred, plus a fixed fee for some currencies and payment methods. Here’s an overview of the fees you can expect when sending money with TransferWise:
- Percentage fee: The percentage fee charged by TransferWise ranges from 0.35% to 2%, depending on the currencies involved. For example, if you’re sending $1,000 from USD to EUR, the fee would be 0.46% of the total amount, or $4.60.
- Fixed fee: For some currencies and payment methods, TransferWise also charges a fixed fee. For example, if you’re sending money from USD to INR, there is a fixed fee of $1.49.
- Payment method fee: If you choose to pay for your transfer using a debit or credit card, there may be an additional fee. This fee varies depending on the currencies involved and the country you’re sending money from.
It’s worth noting that TransferWise always shows you the exact fees and exchange rate before you confirm your transfer, so you can see exactly how much you’ll be paying. The fees charged by TransferWise are generally lower than those charged by banks and other money transfer services, making it a cost-effective option for sending money internationally.
Transfer Wise Card Fees:
The TransferWise debit card is a Mastercard that allows you to spend money in any currency at the real exchange rate. The card is free to order and comes with no monthly or annual fees. However, there are some fees associated with using the card:
- ATM withdrawal fee: If you withdraw cash using your TransferWise card, there may be an ATM withdrawal fee. The fee varies depending on the currency you’re withdrawing and the country you’re in, but is typically around 1.75% of the withdrawal amount.
- Foreign exchange fee: If you use your TransferWise card to pay for goods or services in a currency other than your card’s base currency, there is a foreign exchange fee of up to 2%.
- Inactivity fee: If you don’t use your TransferWise card for 12 consecutive months, there is an inactivity fee of $2 per month.
- Replacement card fee: If you need to replace your TransferWise card, there is a fee of $7.
It’s important to note that the fees for using the TransferWise card are generally lower than those charged by traditional banks or credit cards, making it a cost-effective option for spending money abroad. Additionally, you can check the exact fees for your card in your account settings or in the TransferWise mobile app.
Transfer Wise Fees for Receiving Money:
TransferWise offers different fee structures for receiving money depending on the country and currency involved. In general, the fees for receiving money are lower than those for sending money. Here are some examples of the fees for receiving money with TransferWise:
- Receiving money in USD: If you’re receiving money in USD, there is a flat fee of $1.40, regardless of the amount received.
- Receiving money in EUR: If you’re receiving money in EUR, there is a flat fee of €1, regardless of the amount received.
- Receiving money in GBP: If you’re receiving money in GBP, there is a flat fee of £0.85, regardless of the amount received.
- Receiving money in other currencies: If you’re receiving money in a currency other than USD, EUR, or GBP, the fee structure may be different. In general, TransferWise charges a small percentage fee of the amount received, which ranges from 0.35% to 1.5%, depending on the country and currency.
It’s worth noting that the exact fees for receiving money with TransferWise may vary depending on the country and currency involved, and the payment method used. Additionally, TransferWise always shows you the exact fees before you confirm your transfer, so you can see exactly how much you’ll be paying. Overall, the fees for receiving money with TransferWise are generally lower than those charged by banks and other money transfer services.
