Exposed: the true cost of sending £1,000 to Euro

TransferWise content team
1 minute read

Do you know how much your bank charges when you send money abroad?

It's likely to be more than you think.

In fact, it could be costing you up to 5% to send money abroad using one of the UK's high street banks.

transferwise savings graph

The red bit? That's the extra cost banks don't tell you about. Until now.

Our data, taken direct from the bank's websites, shows that the stated fee is only a small part of the true cost.

The banks hide costs in bad exchange rates, which are much lower than the real mid-market exchange rate you’ll see on Google.

So, how is TransferWise cheaper?

At TransferWise we're all about transparency. No hidden charges. No nasty surprises.

TransferWise uses the mid-market exchange rate (that same one you see on Google) and charges a low, transparent up-front fee. That's why it's cheaper.

It's only fair. It's your money.

Don't accept anything else.

TransferWise is the smart, new way to send money abroad.

Find out more