1. What is the Wise Transfer Calculator?

The Wise Transfer Calculator helps you estimate the fees associated with international money transfers using Wise (formerly TransferWise). It calculates both the fixed and percentage-based fees to give you a clear picture of the total cost.

2. How Does the Calculator Work?

The calculator uses the Wise fee formula:

Where:

• \( Fixed \) — Fixed fee component (£)
• \( Percentage \) — Percentage fee rate (%)
• \( Amount \) — Transfer amount (£)

Explanation: The equation accounts for both a flat fee and a variable percentage-based fee that scales with the transfer amount.

3. Importance of Fee Calculation

Details: Accurate fee calculation is crucial for budgeting international transfers, comparing different service providers, and understanding the true cost of sending money abroad.

4. Using the Calculator

Tips: Enter the fixed fee in £, percentage fee as a decimal value (e.g., 0.33 for 0.33%), and the transfer amount in £. All values must be valid positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Why use Wise for international transfers?
A: Wise typically offers lower fees and more transparent pricing compared to traditional banks, using real mid-market exchange rates.

Q2: Are there any hidden fees?
A: Wise is known for transparent pricing, but always check for any additional fees based on payment method or destination country.

Q3: How accurate is this calculator?
A: This calculator provides estimates based on standard Wise fee structure. Actual fees may vary based on currency pairs and transfer specifics.

Q4: Can I use this for business transfers?
A: Yes, but business transfers may have different fee structures. Always check Wise's business pricing for accurate calculations.

Q5: How often do Wise fees change?
A: Wise occasionally updates their fee structure. Always verify current rates on their official website before making transfers.