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!
David Brown 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
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!
Posted: 2 Nov, 2017 - Last update: 6 Feb, 2024
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