Loading...

Transferwise changes Eurozone fee structure

Transferwise USA - International Money Transfers

  • Great USD exchange rates with low fees
  • Easy-to-use online platform and mobile App
  • Get local currency 'Borderless' accounts in GBP, EUR, USD, AUD, NZD
  • Peer-to-peer platform to ensure excellent rates

In late June 2018, Transferwise introduced a new fee structure for Eurozone foreign transfers (from EUR) ... and as always with Transferwise its complicated so we will break it down for you!

#News #EUR #FinTech #Transferwise
Email share     Facebook     LinkedIn    Twitter

More expensive for Card payments

In most European countries your bank takes 0.20% from your payment as debit card interchange. Add scheme fees from Mastercard or Visa and the rest — it often turns out 2-3x more expensive to pay via card than by direct bank transfer.

So if you are in a hurry fast transfers can be sent from debit and credit cards at an extra 0.20% cost.

See how the new fees have impacted low cost transfers from your bank (example € 5,000).

Before After Impact @ €  5,000
GBP 0.50% min € 2.00 € 0.80 + 0.30% -37% ✯✯✯
USD 0.50% min € 2.00 € 0.70 + 0.35% -27% ✯✯
INR 0.70% min € 1.64 € 0.70 + 0.45% -34% ✯✯✯
AUD 0.70% min € 1.29 € 0.60 + 0.35% -48% ✯✯✯
CHF 0.50% min € 2.00 € 1.30 + 0.30% -35% ✯✯✯
AED 1.00% min € 2.55 € 2.50 + 0.70% -25% ✯✯
ARS € 3.00 + 1.00% € 2.60 + 1.00% -1%
BGN 0.70% min € 1.43 € 0.60 + 0.55% -20% ✯✯
BDT € 2.00 + 1.40% € 1.90 + 1.30% TBC
BRL 1.50% min € 1.60 € 1.40 + 1.05% -28% ✯✯
CAD 0.50% min € 2.00 € 0.50 + 0.40% -18% ✯
CLP 1.50% min € 3.00 € 3.40 + 0.90% -35% ✯✯✯
CNY 1.50% min € 3.19 € 1.60 + 1.50% TBC
CZK 0.70% min € 1.64 € 0.50 + 0.35% -49% ✯✯✯
DKK 0.50% min € 2.00 € 1.10 + 0.35% -26% ✯✯
EGP € 2.00 + 0.80% € 2.50 + 0.75% -5%
GEL 1.00% min € 0.70 € 0.80 + 0.70% -28% ✯✯
HKD 0.50% min € 2.00 € 1.50 + 0.45% -4%
HRK 0.70% min € 1.42 € 1.70 + 0.50% -24% ✯✯
HUF 0.70% min € 1.31 € 0.80 + 0.35% -48% ✯✯✯
IDR € 2.00 + 0.70% € 1.40 + 0.55% -22% ✯✯
ILS 1.00% min € 2.00 € 2.30 + 0.55% -40% ✯✯✯
JPY 0.50% min € 2.00 € 2.70 + 0.50% 11% ☹
KES € 2.00 + 0.70% € 2.80 + 0.65% -5%
LKR 1.00% min € 0.80 € 1.50 + 0.55% -42% ✯✯✯
MAD 1.50% min € 2.70 € 2.30 + 0.80% -44% ✯✯✯
MXN 1.00% min € 1.32 € 1.00 + 0.45% -53% ✯✯✯
MYR 0.70% min € 1.61 € 2.10 + 0.50% -23% ✯✯
NGN € 2.00 + 0.50% € 0.70 + 0.50% -5%
NOK 0.50% min € 2.00 € 0.90 + 0.35% -26% ✯✯
NPR € 1.50 + 1.00% € 8.10 + 0.50% -36% ✯✯✯
NZD 0.70% min € 1.76 € 0.80 + 0.35% -48% ✯✯✯
PEN 1.50% min € 3.00 € 3.30 + 1.05% -26% ✯✯
PHP 1.00% min € 2.32 € 2.30 + 0.50% -45% ✯✯✯
PKR 1.00% min € 2.31 € 2.20 + 0.45% 0%
PLN 0.50% min € 2.00 € 0.60 + 0.35% -28% ✯✯
RON 1.00% min € 2.15 € 0.90 + 0.45% -53% ✯✯✯
RUB 1.50% min € 2.71 € 2.20 + 0.60% -57% ✯✯✯
SEK 0.50% min € 2.00 € 0.70 + 0.30% -37% ✯✯✯
SGD 0.50% min € 2.00 € 1.00 + 0.30% -36% ✯✯✯
THB € 2.00 + 0.70% € 3.00 + 0.50% -24% ✯✯
TRY 1.00% min € 1.13 € 1.70 + 0.50% -47% ✯✯✯
UAH € 0.50 + 2.40% € 0.50 + 2.30% TBC
VND 1.50% min € 3.54 € 2.00 + 0.80% -44% ✯✯✯
ZAR € 17.03 + 0.70% € 10.00 + 0.50% -33% ✯✯✯

TransferWise Smart Global Transfers

Visit TransferWise and Save

TransferWise Money Transfers – Review

TransferWise has been making waves in the global payments market since it came on the scene back in 2011 and is undoubtedly one of the best services for sending money across borders.

Last update: 29 Nov, 2019

Transferwise changes UK fee structure

In October 2017, Transferwise introduced a new fee structure for foreign transfers from the UK … its complicated so we will break it down for you!

Last update: 16 Feb, 2019

 

Posted to: News

 
   

Get a Better FX Deal when you Send and Spend Abroad.

 

Do NOT follow this link or you will be banned from the site!