Last month, we dropped our fees to send money to IDR, MYR, PKR, and PHP.
We’ve done this because it’s the right thing to do. When people and businesses switch to TransferWise, we get closer to achieving our mission of money without borders: instant, convenient, transparent, and eventually free. That means that we can pass the savings on to you.
We’ve already dropped our fees, this means you can already send more for less, no matter what amount you send to IDR, MYR, PKR or PHP.
For reference, here are the fees to send 1000 GBP to Indonesia (IDR), Malaysia (MYR), Pakistan (PKR), and Philippines (PHP).
|Send £1,000 to||Old fee||New fee||Price decreasing by up to|
|Pakistan (PKR)||£ 14.54||£ 9.04||⬇️ 37%|
|Indonesia (IDR)||£ 6.41||£ 5.24||⬇️ 18%|
|Malaysia (MYR)||£ 6.86||£ 5.60||⬇️ 18%|
|Philippines (PHP)||£ 5.66||£ 5.20||⬇️ 8%|
(The old and new fees are based on the exchange rate on 4th Feb, 2020)
When we opened for business, we based our fees on how much transfers cost us to process.
Since then, we’ve gained a lot of customers, and they've driven our costs down on many transfer amounts and routes. At the same time, we've gotten better at what we do, and that's brought our costs down too.
We’ve used those savings to lower our fees where we can, which means most of you will be able to send money for even less.
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