Wise Transfer Fee Calculator (Fee, Exchange Rate & Bank Comparison)

How it works

fee = amount × (variable % + payment surcharge %) + fixed; received = (amount − fee) × mid-market rate × (1 − markup) [fee added on top: received = amount × rate × (1 − markup)]; all-in cost = what you pay − received ÷ mid-market rate; bank delivers = (amount − bank fee) × bank rate − intermediary fees; amount to send for a target = (target ÷ rate + fixed) ÷ (1 − variable %)

Wise-style services charge a transparent fee — a small fixed amount plus a percentage that depends on the currency route — and convert at the mid-market rate, so the fee is the whole cost. Banks often advertise low or “no fee” transfers and hide 2–5% inside a worse exchange rate, and wires sent through correspondent banks can lose another deduction on the way. Comparing what lands in the recipient’s account, not the headline fee, is the only fair test. Enter the fee for your route from the provider’s quote and today’s mid-market rate; the calculator never assumes a live rate. It shows the recipient’s amount, the all-in cost as money and as a percentage, the bank alternative, the saving, and the amount at which the two options cost the same. Switch to “They must get → I send” to find how much to send for a fixed payout, choose whether the fee is taken from the amount or added on top, and add a card surcharge, the bank’s actual quoted rate or intermediary fees under More options. The table shows how the fixed fee weighs on small transfers.

Worked example

Sending $1,000 at 0.6% + $0.50 with a mid-market rate of 83.5 (an example rate): the fee is $6.50, $993.50 is converted and the recipient gets 82,957.25. A bank with a $25 fee and a 3% markup converts $975 at 80.995 and delivers 78,970.13 — about 3,987 less. The bank’s all-in cost is $54.25 (5.43%) against $6.50 (0.65%), so the transfer service saves about $47.75 — and with both a lower fixed fee and a lower percentage it is cheaper at every amount. For the recipient to get 80,000 exactly, send (80,000 ÷ 83.5 + $0.50) ÷ 0.994 = $964.37.

Sources: Wise — Pricing for sending money · World Bank — Remittance Prices Worldwide · CFPB — Sending money abroad (remittance disclosures)

Frequently asked questions