Does Wise Have The Lowest Fees?

Wise has some of the lowest fees for international money transfers. It uses the mid-market exchange rate instead of setting arbitrarily high exchange rates like some banks do.

The Mid-Market Rate Explained

When you send money internationally, the exchange rate often makes a bigger difference than the transfer fee.

The mid-market exchange rate is the rate in the middle of the market buy and sell prices for a currency. It is often viewed as the real market rate, and is often what the banks actually pay before they markup the cost and give you an inflated bill. 

Many companies advertise low transfer fees, then markup the exchange rate so it ends up costing you more overall. 

In the example below Wise charged a higher transfer fee but had a much better exchange rate, resulting in the recipient receiving more money overall. That's why it's best to compare the full result rather than just looking at the transfer fee.

Want to Get Your First Wise Transfer For Free?

Sign up for Wise using referral link https://wise.com/invite/dic/jermain to get your first transfer for free (fees will be waived on your first $800 of transfers). You can transfer more than $800 but the fees will only be waived on the first $800.