We reduced our fees saving our customers a further ~$61m per year*
Our mission is to build the best way to move and manage money around the world. Building on the $31m of price reductions we introduced in April, we’ve continued to make progress lowering our costs, bringing our total savings per year to an estimated $92m*. This means we’ve been able to cut our fees once again, ensuring you never pay more than you need to when sending or receiving money.
Q3 Highlights:
- Sending money from a number of currencies including Brazilian Real (BRL) and Australian Dollar (AUD) got cheaper
- Sending money to a number of currencies got cheaper, including Indonesian Rupiah (IDR), Philippine Peso (PHP), COP (Colombian Peso) and Turkish Lira (TRY)
- Sending United States Dollar (USD) via SWIFT to countries outside the United States of America got cheaper
- Depositing or withdrawing Canadian Dollars (CAD) via Interac to or from your Wise balance to any CAD bank account is now free
Read below to see which fees changed the most.
Key areas where we have reduced our fees
🚀 Sending money from a number of currencies got cheaper (saving customers ~$20.5m a year)
Converting money from a number of currencies (see the chart below) is now more affordable whether you use an external bank transfer or your Wise balance. As an example, transferring BRL now costs less because we’ve negotiated lower fees with our partner bank and scaled our customer servicing costs - so if you send 1,000 BRL to EUR, this will cost ~ 2.83 BRL less, a saving of 25%.
🚀 Sending to these currencies got cheaper (saving customers ~$22.1m a year)
We made it cheaper to convert money to a number of different currencies using either your Wise balance or external bank transfer. We have been able to do this by making better deals with our banking partners in Indonesia and Colombia and by getting more efficient at managing the way we hold and move money.
For example, customers sending 1000 GBP to bank accounts in the below currencies could make the following estimated savings per transfer:
- Colombian Peso (COP): ~£6.66 saving (30%)
- Turkish Lira (TRY): ~£3.98 saving (44%)
- Indonesian Rupiah (IDR): ~£1.13 saving (19%)
- Philippine Peso (PHP): ~£0.87 saving (13%)
- United Arab Emirates Dirham (AED): ~£0.46 saving (8%)
- Kenyan Shilling (KES): ~£0.84 saving (7%)
🌍🇺🇲 Sending United States Dollar (USD) via SWIFT to countries outside the United States of America got cheaper (saving customers ~$6.8m per year)
By negotiating better deals with our banking partners and getting more efficient at managing how we hold and move money, we saved customers an average of 24% across 75 individual country price points.
🇨🇦 Depositing or withdrawing Canadian Dollars (CAD) via Interac to or from your Wise balance to any CAD bank account is now free (saving customers ~$5m per year)
This translates to a saving of CAD 1.98 per transaction on withdrawals and a minimum of 4.86 CAD per transaction on deposits.
PS… we aren’t stopping here…
Dropping our fees is at the heart of what we do at Wise. We’re always looking for ways to reduce our costs - whether that means negotiating better rates with our partners, building more efficient technology and processes, or finding the smartest ways to move money.
As we continue to grow and improve, you can expect us to keep passing savings back to you, because at Wise, we believe that international money should work for everyone - with minimum fees, maximum ease and full speed.
Want to see how much you could save on fees using Wise? Check out your next transfer in the app or at [https://wise.com/gb/pricing/send-money]
*Estimated annual savings based on customer transaction volumes from Oct 25 to Dec 25 and March ‘26 to May ‘26, compared to our previous fee rates. For the most up to date information on fees/pricing, visit our pricing page.
