Stop Paying For Wise Fees With The Help Of DoNotPay
Wise, formally known as Transferwise, is a financial company that allows a person to exchange money to another form of currency in a matter of minutes. As with other financial software, such as PayPal and Robinhood, there are some fees for different functions in using Wise. Wise was created to help make it easier to exchange different forms of currencies while traveling abroad. What are Wise's fees, and is it possible to avoid them? Read on more to learn how can help you appeal transaction fees as well as other fees when using Wise.
How Much Does Wise Charge Per Transaction
Wise was formed in 2011 as Transferwise. It is based in London and was created to make a way in which people could exchange currency in a quick and hassle-free way. Wise monitors current exchange rates to easily convert currencies within minutes. The following are the additional fees that could affect each transaction:
- 3.55 EUR: This is added for transfers outside of SEPA (Single Euro Payment Area) countries.
- 7.5 USD: This fee is added to transactions that are received through a USD wire payment.
- 0.35%: A conversion fee that is added to the total amount of a transaction when it is converted to another currency.
- An Additional 0.35%: This sending fee is added to the total amount being sent in a transaction.
What Are Wise's Other Associated Fees
There are additional fees that Wise may add on depending on the type of transaction and more; they are as follows:
If you withdraw over 200 GBP (Great British Pounds) per month, you will be charged 1.75% of the total amount withdrawn in that month, plus .50 GBP per transaction.
Over 15,000 EUR In Account
When your account holds over 15,000 EUR, you will be charged an annual percentage rate of .4%, which will be divided up and charged monthly.
Wise Debit Card
To get a Wise debit card, you will be charged a one-time fee of 5 GBP.
Investment With Wise
If you decide to invest in Wise, you will be charged an annual percentage rate fee of .55%.
How To Prevent Occurring Wise Fees
Avoiding and/or preventing fees on your own can be difficult when using Wise. Because they offer transparent fees, there aren't many options for avoiding fees, except by only choosing the free services. The following are four ways in which Wise suggests to reduce or prevent unwanted fees:
- You will receive a discount for your first transaction of over 500 GBP when you are referred to Wise by a Wise account member. If the transaction is under 500 GBP, your first transaction will be free.
- Only withdrawing less than 200 GBP in 2 or less transactions per month will prevent withdrawal fees.
- Keeping an account balance under 15,000 GBP will help avoid account fees from occurring.
- Spending the currency in your account, without changing the form of currency already in your account, can help to avoid currency exchange fees.
When it comes to keeping up with the fees that can occur while using your Wise account, it can be frustrating and somewhat confusing. The small fees can also add up, making it expensive in the long run. What if there was a way in which to avoid the fees all together to keep costs low and affordable? That is where DoNotPay comes in!
Avoid Wise Fees With The Help Of DoNotPay!
DoNotPay is the perfect solution when it comes to appealing Wise account fees and more! DoNotPay can also assist you in fighting different fees in other areas, such as Chase Checking Account fees, Coinbase fees, and even eBay fees! When you use DoNotPay to appeal any unwanted mounting fees, you can rest assured that your appeal will be filed correctly and effectively!
Here's how you can use DoNotPay to appeal fees:
- Search "appeal fees" on DoNotPay, choose the Fight and Waive Fees product, and select the type of fee you want to appeal.
- Select the merchant you want to appeal fees for and enter the details of your transaction, including an associated account if you have one.
- Submit your case! DoNotPay will generate the best argument for your case and make sure your fee waiver request gets sent to the merchant for processing.
And that's it! DoNotPay works on your behalf by sending an appeal letter to the appropriate Wise department in order to help you get the refund you deserve!
DoNotPay Works Across Multiple Areas!
DoNotPay offers the best solution for appealing your Wise acoount fees in a fast, easy, and successful way! To learn more about other fees DoNotPay can assist you with, check out the following list below! Why not try today and see how quickly and easily it can get you a refund for a Wise fee!
|eBay fees||Coinbase fees|
|Robinhood fees||Paypal seller fees|
|Spirit Airlines baggage fees||American Airlines baggage fees|
|Chase Bank checking account fees||Etsy fees|
|Homeowners Association (HOA) fees||Shopify fees|
How Else Can DoNotPay Represent You?
Helping you fight hidden fees and request fee waivers is just one of the many quality services that DoNotPay provides. We can help you: