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Wise, known for its transparent fees and actual exchange rates, has become a preferred choice for international money transfers. However, like any financial service, Wise has certain transaction limits that users should know. Understanding these can help you manage your transfers smoothly and avoid disruptions.
In this blog, we’ll examine Wise’s transaction limits, explain how to work within these restrictions, and introduce you to Vance, a better alternative that may best suit your needs.
Wise - Transaction Limits
Let’s dive right into the Wise daily limits and the limits that apply to different payment types. Below is a detailed table outlining the specific limits for various payment methods when using Wise:
Payment Type
Per Transfer
Daily
Weekly
60 Day period
Wire Transfer
1,000,000 USD
-
-
-
USD Balance Top Up
6,000,000 USD
-
-
-
ACH Payment
50,000 USD
50,000 USD
-
250,000 USD
Debit/Credit Card
2,000 USD
2,000 USD
8,000 USD
-
SWIFT
1,600,000 USD
-
-
-
For specific limits related to your currency, it's recommended that you check Wise transaction limits or use their transfer calculator for real-time limits.
Users handling very large amounts might prefer services like Vance, which offers more straightforward and higher daily transfer limits of GBP 400,000 in the UK and AED 140,000 in the UAE.
Wise - Fees and Exchange Rates
Fees
Clear Pricing: Wise is known for its transparent fee structure. The fees depend on the amount sent, the currency, and the payment method. For example, sending money from the US to Europe might incur different fees than sending money to Asia.
Free Transfers: Transfers between Wise accounts in the same currency are free. However, sending to a different currency will incur a small conversion fee.
Exchange Rates
Mid-Market Rate: Wise offers the real mid-market exchange rate, which is the fairest available. Unlike other providers, Wise doesn’t add a hidden markup to this rate, making it more transparent.
Platforms like Vance, with a flat £3 fee, offer a predictable cost structure, which is especially advantageous for smaller transfers. Unlike many competitors, Vance provides exchange rates that match Google’s mid-market rates exactly, with no hidden markups.
This ensures that you receive the best possible exchange rate, unlike other services that add a percentage margin to the rate. By eliminating these markups, Vance ensures your recipient receives more, making it vital to compare these elements across different platforms to ensure the best deal.
Managing Your Wise Experience
Verify Early
If you anticipate sending large amounts, completing all necessary verification steps as early as possible is a good idea to unlock higher limits. This helps avoid delays when you need to transfer significant sums.
Check Limits Before You Send
Use the Wise app or website to check your limits before transferring. Wise provides a calculator to help you understand your sending limits and fees in advance.
Explore Alternatives
If you frequently hit Wise’s limits or need faster, larger transfers, consider other options like Vance. With higher base limits and fewer verification steps, Vance could be a better fit for users needing more flexibility in their international transfers.
Enjoy Higher Transfer Limits with Vance
If you're looking to send money internationally without the hassle of hitting transfer limits, Vance is your go-to solution. Offering real-time Google rates and no hidden fees, Vance ensures you get the best deal every time. You can easily manage your international transfers with higher base limits and exclusive rate alerts. Join a savvy community of over 100,000 users who have collectively saved more than ₹50 Cr in transfer fees. Download the Vance app today!
In Conclusion
Wise is a reliable and transparent service for sending money internationally, but it's essential to understand its transaction limits to ensure a smooth experience. If Wise’s limits don’t meet your needs, alternatives like Vance offer a more flexible solution for high-volume or frequent transfers. The best service for you depends on your specific needs—the speed of transfer, limits, or fees involved.
This content is for general informational purposes only and should not be taken as financial, legal, or professional advice from Vance or its affiliates. While we strive for accuracy, the information may change over time. Vance makes no representations, warranties, or guarantees, whether express or implied, regarding the information's accuracy, completeness, or reliability. The comparison is based on publicly available data and is intended to assist users in making informed decisions. It is not a substitute for professional advice or consultation with financial experts. Please review your region's terms of use and product availability or visit the service provider's website for the latest pricing and service information.
FAQs
Q1. What are the maximum transfer limits for Wise?
The maximum transfer limits with Wise vary depending on the currencies involved, the destination, and the payment method. Higher limits are available after account verification.
Q2. How do Wise's limits vary by country and currency?
Wise’s limits differ by country and currency due to varying local regulations and financial controls, which can cap the maximum amount you can send.
Q3. Are there any daily or monthly limits for Wise transfers?
Yes, Wise imposes daily and monthly limits on transfers, which depend on your account verification level and the payment methods used.
Q4. How can you increase your transfer limits with Wise?
You can increase your transfer limits by completing additional verification steps, such as providing more personal and financial information.
Q5. What are the limits for business transactions with Wise?
Wise offers different limits for business accounts, which generally allow for higher transfer amounts, particularly after completing the required verifications.
Q6. How do Wise's limits compare with other money transfer services?
Wise generally offers competitive limits compared to other services, but they may be lower sometimes, especially before complete verification.
Q7. What happens if you exceed your Wise transfer limit?
If you attempt to exceed your Wise transfer limit, the transaction will be blocked, and you'll be notified to either lower the amount or complete further verification.
Rupali enjoys writing about everything related to money (in India and around the world). A MICA graduate in Communications, she has over seven years of experience in content creation and communication strategy for various user touchpoints, from CRM to UX for apps and websites, especially in fintech and healthcare. Outside of work, you'll find her binging on true crime documentaries or cooking up a storm.
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