We know you'll want to understand exactly how this change affects you, so we've written this post to give you all the information you need. It’s divided into 2 sections:
Why they’re going down for most transfers and staying the same for others.
If you’re not very interested in the “why”, and you just want to know how these changes will affect your transfers, go straight to the new fees.
We believe sending money to another country should be as cheap as sending an email. Yes, we think it should be free.
We’re not there yet, but that’s what we’re shooting for.
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.
Unfortunately, despite our best efforts, some transfers still cost us the same amount to process as they did before. So we’ve kept our fees the same for them.
We’ll bring those fees down as soon as we can. (And remember, you can always save a little money by paying with a bank transfer, rather than a card.)
|Price change||Routes affected|
|Cheaper for all amounts.||AUD, BGN, CHF, CZK, DKK, EUR, HRK, HUF, NOK, PLN, RON, SEK, SGD, USD, HKD.|
|No change at all.||CAD, GBP, NZD, TRY, BRL, JPY.|
To read more about transfers to IDR, visit our IDR transfers page.
|Route||Old price||New price|
|AUD to IDR||2 AUD + 0.65%||2 AUD + 0.60%|
|BGN to IDR||3.50 BGN + 0.60%||2.20 BGN + 0.55%|
|CAD to IDR||1.50 CAD + 0.65%||1.50 CAD + 0.65%|
|CHF to IDR||2.50 CHF + 0.50%||1.70 CHF + 0.45%|
|CZK to IDR||40 CZK + 0.60%||26 CZK + 0.55%|
|DKK to IDR||10 DKK + 0.55%||7 DKK + 0.50%|
|EUR to IDR||1.40 EUR + 0.55%||1 EUR + 0.50%|
|GBP to IDR||1 GBP + 0.65%||1 GBP + 0.65%|
|HRK to IDR||19 HRK + 0.65%||17 HRK + 0.60%|
|HUF to IDR||420 HUF + 0.60%||280 HUF + 0.55%|
|NOK to IDR||15 NOK + 0.55%||10 NOK + 0.50%|
|NZD to IDR||2.50 NZD + 0.60%||2.50 NZD + 0.60%|
|PLN to IDR||6 PLN + 0.55%||4 PLN + 0.50%|
|RON to IDR||7 RON + 0.60%||5 RON + 0.55%|
|SEK to IDR||19 SEK + 0.55%||16 SEK + 0.50%|
|SGD to IDR||1.50 SGD + 0.60%||1.50 SGD + 0.55%|
|USD to IDR||2 USD +0.75%||2 USD + 0.70%|
|TRY to IDR||10 TRY + 0.50%||10 TRY + 50%|
|BRL to IDR||10 BRL + 2.42%||10 BRL + 2.42%|
|HKD to IDR||20 HKD + 0.70%||18 HKD + 0.65%|
|JPY to IDR||180 JPY + 0.75%||180 JPY + 0.75%|
The fee changes depending on the currency you’re paying with. To see how much it is for each currency, read our paying by card page.
The fee changes depending on what you do:
When you move a balance from one currency to another, you pay the variable fee that you would for a normal money transfer for that route. The fixed fee isn’t included.
When you pay money out, you might pay a fixed fee depending on the currency. For some currencies, it’s free as long as you’re making a local transfer. Read more about how much it cost to withdraw money from your borderless account.
Over the last week TransferWise co-founder Taavet has featured in two podcasts with TransferWise's investors; a16z and Index Ventures.Below is a brief summary...
Today, we're excited to announce that N26, the Berlin based mobile bank, has joined the TransferWise revolution.This, our second partnership in 2016, means...
Having been chosen as one of the World Economic Forum's tech pioneers 2015, TransferWise co-founder Taavet was invited to Davos.FinTech became a 'bankers...
Labour MP Tessa Jowell highlights the dire need for an end to hidden bank fees.One month ago we launched #StopHiddenFees.Our aim? To end decades of unfair...
Speaking live on BBC Radio 4's Today programme, TransferWise founder Taavet announced that TransferWise users now move over £500 million a month on the...
TransferWise joins a roster of rising London tech stars, cementing the city as the global FinTech capital.The government-backed Future Fifty scheme identifies...