How does a free transfer work?
If you've been invited by another TransferWise user to use us, you'll receive a discount on your first transfer. This will either remove or reduce the fee on your first transfer.
How they work: Free transfers are single use, and are always automatically used on the next standard payment you make with us. You'll normally be notified in your invitation e-mail how much the discount will be.
Free transfers are only applied to transfers where you're sending money, whether it's a normal payment or payment to a specific amount.
How they work: Free transfers are single use, and are always automatically used on the next standard payment you make with us. You'll normally be notified in your invitation e-mail how much the discount will be.
Free transfers are only applied to transfers where you're sending money, whether it's a normal payment or payment to a specific amount.
What does the discount apply to?
The free transfer is applied to the normal TransferWise fees that you see when you first start creating a transfer. For example:
- You've received a free transfer of up to 500 GBP (or equivalent in other currency) and set up your first transfer for 483 GBP to USD. Since the amount you're transferring is less than the maximum amount within your free transfer is valid, there won't be any fees charged.
- You've received a free transfer of up to 500 GBP (or equivalent in other currency) and set up your first transfer for 1592 GBP to JPY. Since the amount you're transferring is more than the maximum amount within your free transfer is valid, there will be a fee applied on the amount over 500 GBP (1092 GBP).
Additional payment fees, such as credit card fees or any additional banking fees, will be applied if the total amount (including the payment fee) is greater than the discount we give you.
Was this article helpful?
All topics
