We're on a mission - new, lower prices.
Sending money from the US to Mexico with TransferWise just got cheaper.
What are the new fees? It now costs just 1% - down from 1.5%
Why are we lowering fees? TransferWise exists to let people send money across the world seamlessly. And when we can, we’ll always drop the price – it’s simply the right thing to do.
So, how much will you actually save? It's a third cheaper now. Here's how that compares to what some banks may charge you:
How do we collect this data?
The bank fees are based on data obtained online through the respective provider's website. The name of the providers and the date and time of the data collection are listed below.
TransferWise on 12/12/2016 at 11:30am
Bank of America on 12/12/2016 at 12:30pm
The data shows the overall cost of sending the specified amount internationally in the currency selected using specified providers.
The cost represents the entire financial cost to consumers and is calculated by adding together the upfront fee and the cost hidden in the exchange rate mark-up. Price comparisons can be verified by establishing the mid-market rate, the provider's upfront cost, and the exchange rate provided.
The data is collected manually and therefore collected on different dates. To make sure the comparison is legitimate, the fee is calculated based on the rate and the mid-market rate on the collection date. Even if there is a difference in the dates collected, the cost displayed and the amount received are based on the exchange rate, upfront fee, and fees of the collection date.