Wise charges 0.41 percent on USD to EUR and 0.54 percent on USD to GBP at the May 2026 print. The expat working account for 8 currencies.
Wise is a UK regulated payment institution that lets you hold balances in 40 currencies, send international transfers at the mid market rate plus a published fee, and receive local bank details in USD, EUR, GBP, AUD, CAD, NZD, SGD, HUF, RON, and TRY. For an expat moving money across borders monthly, Wise compresses the home bank wire (35 to 65 dollar fee, 2.5 to 4 percent rate markup) to a single transparent line item.
USD 1,000 to EUR via Wise on 2026 May 12: received 919.40 EUR (mid market 923.20, fee 0.41 percent). Same transfer via a US retail bank wire: 891.20 EUR after the 35 dollar fee and 3.1 percent margin. Net Wise advantage: 28.20 EUR per 1,000 USD. Annualized across 10,000 USD a month: 3,384 EUR.
Wise is not a savings account, a brokerage, or a substitute for a local bank account when the destination country requires a local IBAN for utilities, taxes, or rental payments. Use Wise for transit; use the local bank for residence. We cover the local bank workflow separately.