Wise increases fees from October 1st

Wise recently sent out emails announcing new changes starting October 1st

Some of our fees are increasing on 01 October, 2022 on routes to:

– Send money from USD, CHF, CAD, JPY, HUF, MYR, TRY, INR, SEK, PLN, CZK, DKK, NOK and RON to any currency.

– Send money to USD, INR, THB, PHP, IDR, MYR, MXN, PLN, PKR, KRW, VND, MAD and HUF from any currency.

Why is this happening?

– Unfortunately, markets have been more volatile recently, which makes it more expensive for us to buy and sell currencies — so we need to raise our fees to cover those costs.

– We continue to sustainably invest in our infrastructure so you can move money faster and more conveniently. We need to reflect this in our price today, to help us bring down the cost of moving money in the future.

We know that this isn’t great news, and we’re sorry about that. We’ll try to bring our fees back down as soon as we can.

On the bright side, they are removing fees to hold euros since August 1st.

Wise increases Fees to hold euros

From the 1st of August, you can hold as many Euros on your Wise account as you wish without any charge.

Why are we doing this?

We always want to provide you with the lowest possible fee for our service. We’re no longer in a negative interest rate environment. This means it doesn’t cost us money to hold larger amounts of Euro for our customers, so we’ve removed the fee to hold Euro in your Wise Account.

This is in line with our mission to keep our fees as low as possible and pass as many of our savings to customers. We’ll continue to work hard and help you save even more.