Wise is often described as "low fees" — but what does that actually mean in pounds and pence? This guide breaks down every component of Wise's fee structure so you know exactly what you'll pay as a freelancer.
How Wise Fees Work
Every Wise conversion has up to three parts:
- Variable fee — a percentage of the amount you convert. This is the main cost.
- Fixed fee — a small flat amount when the money leaves Wise for a bank account. Converting between balances inside your own Wise account has no fixed fee.
- Pay-in fee — what it costs to get the money into Wise. Money already in your Wise balance (for example, client payments you received there) costs nothing extra. Paying in from a US bank by transfer adds about $7; a US ACH debit adds less up front but a higher percentage.
Wise converts at the mid-market rate (the rate you see on Google) and shows the full fee before you confirm.
Wise Fees by Currency Pair (verified 14 October 2026)
| Currency pair | Variable fee | Cost on 1,000 — balance to balance | Cost on 1,000 — balance to bank | Cost on 1,000 — paid in from a bank |
|---|---|---|---|---|
| USD → GBP | 0.33% | $3.29 | $3.87 | $10.29 (wire) · $5.89 (ACH debit) |
| USD → EUR | 0.29% | $2.89 | $3.42 | $9.87 (wire) · $5.47 (ACH debit) |
| USD → CAD | 0.28% | $2.79 | $3.64 | $10.15 (wire) · $5.75 (ACH debit) |
| USD → AUD | 0.28% | $2.79 | $3.31 | $9.93 (wire) · $5.53 (ACH debit) |
| USD → INR | 0.42% | $4.19 | $4.75 | $11.26 (wire) · $6.85 (ACH debit) |
| GBP → EUR | 0.33% | £3.29 | £3.70 | £3.81 |
| GBP → USD | 0.36% | £3.59 | £4.45 | £4.60 |
| EUR → GBP | 0.48% | €4.78 | €5.30 | €5.76 |
Last verified 14 October 2026 from Wise's public price calculator (wise.com/pricing). Wise changes prices from time to time — always check the quote in the app before a large transfer.
The freelancer takeaway: receive client payments into your Wise USD balance, then convert inside Wise. That keeps you on the 0.33% route and avoids the ~$7 pay-in fee you'd pay by wiring dollars in from a US bank.
Open a free Wise account →Real Cost Comparison: Wise vs Alternatives
Sending $1,000 USD to a UK bank account on 14 October 2026 (mid-market value: £756.92):
| Provider | Fee | Exchange-rate margin | Recipient gets |
|---|---|---|---|
| Wise — from your Wise USD balance | $3.87 | none | £753.99 |
| Remitly | $0 | 0.02% | £753.54 |
| Wise — paid in from a US bank | $10.29 | none | £749.13 |
| Instarem | $0 | 0.74% | £748.10 |
| Western Union | $0.99 | 1.39% | £742.51 |
| WorldRemit | $1.99 | 2.77% | £731.39 |
| PayPal international transfer | $4.99 | 3.98% | £720.11 |
Wise figures from Wise's price calculator; other providers' quotes as published in Wise's comparison data on 13–14 October 2026. Remitly may show a promotional rate on a first transfer.
Wise is the cheapest route when the dollars are already in your Wise balance. PayPal delivered £33.88 less on the same $1,000 — 4.5% of the transfer.
Annual Cost at Different Income Levels
Converting a monthly USD income from your Wise balance to a UK bank, against PayPal's international transfer at the 14 October 2026 quote:
| Monthly USD income | Wise cost per year | PayPal shortfall per year vs Wise |
|---|---|---|
| $1,000/mo | ~$46 | ~£407 less received |
| $2,000/mo | ~$86 | ~£775 less received |
| $5,000/mo | ~$205 | ~£1,881 less received |
Receiving Money: What's Free
Wise gives you local account details in USD, GBP, EUR, AUD, CAD and more. As of 14 October 2026:
| How the client pays | Fee to you |
|---|---|
| USD by ACH (domestic US transfer) | Free |
| GBP by local UK transfer | Free |
| EUR by SEPA | Free |
| USD wire or Swift payment | $6.11 per payment |
| GBP via Swift | £2.16 per payment |
| EUR via Swift | €2.39 per payment |
Source: Wise receiving fees.
Ask US clients to pay by ACH rather than wire — it saves you $6.11 a payment. Holding balances is free; you pay when you convert or send.
Wise's Fee Structure vs Banks
| Feature | Wise | Typical UK high-street bank |
|---|---|---|
| Variable fee | 0.28–0.48% on major pairs (Oct 2026) | Built into a marked-up exchange rate |
| Fixed fee to a bank account | about £0.40–£0.90 | Often £10–£25 for an international payment |
| Exchange rate | Mid-market | Usually several percent off mid-market |
| Transparency | Full fee shown before you confirm | Margin hidden in the rate |
| Weekends | Same pricing 24/7 | Payments wait for business days |
Tips for Minimising Wise Fees
Batch your transfers. The fixed fee is the same whether you send $100 or $5,000. One monthly transfer instead of four weekly ones saves three fixed fees.
Receive in the currency you'll convert. Don't receive GBP then convert to EUR — receive EUR directly and convert to GBP once, to avoid double conversion.
Convert from your balance, not from your bank. Receive USD into Wise, convert it there at 0.33%, then move GBP to your UK bank. Wiring dollars in from a US bank first adds about $7 a transfer.
Check the rate before converting. Wise shows the exact fee and rate before confirming. No surprises.
Calculate your Wise fee →Frequently Asked Questions
What is Wise's fee for USD to GBP? 0.33% as of 14 October 2026, plus $0.58 if you send the pounds to a bank account. On $1,000 from your Wise balance that's $3.87 in total. Paying in from a US bank adds about $7.
Does Wise charge to hold money? No — holding currency in your Wise account is free. Fees only apply when converting between currencies or sending to a bank account.
How do I find my exact Wise fee before transferring? Enter the amount and destination in the Wise app or website before confirming. Wise shows the exact fee breakdown — fixed + variable + exchange rate — before you commit.
Is Wise fee-free for the first transfer? Wise sometimes offers fee-free first transfers for new users. Check wise.com for the current promotion.
See also: Wise review for UK freelancers · Payoneer vs Wise for Upwork · Wise vs Revolut for freelancers
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