hey guys is there anyone here who uses Wise ..ive seen something today about the new rates going up also the lowering of the ceiling regards amount of cash you can have in your account

So if im correct its gone down from 10.000 euro to 3000 euro after that you must pay i think is 0.90% on the amount over 3000 so we have to pay a bank to have our money big drop .         7000 euro less can be kept at the ready any reply appreciated have i misread this or not..might be time to look elsewhere tks 

I saw this bad news for breakfast (in German language).

I'll try to find it on the web...

Well hidden

It appeared like a popup on the smartphone app.

Sending 2000 EUR will cost me about 1.20 EUR more (as far as I remember).

And yes, and only holding up to 3000 EUR will be free.

 

I just received money today from my UK bank using Wise to my Thai Bank that I transferred and it's just as usual.

I'm in the USA and I have not seen any increased fee notice as of today morning. 

I received an email from Wise as well with the text below. There was also a link that said see new fees. The link says that a 5050 Euro transfer to Thailand will have a new cost of 30.12 euros and the old cost was 27.16 euros. The strange thing in my records of my last 6 transfers the cost was 29.72 each. I do not hold a balance within Wise so do not have to worry about the negative interest.

 

Some of our fees are increasing on 26-Apr-2022 when you'll:

• Send money from EUR, GBP, and CHF to any currency

• Send money to RON, PLN, and CZK from any currency 

Thresholds and fees to hold EUR are changing on 26-Apr-2022:

• It’s free for personal customers to hold up to: 3,000 EUR

• It’s free for businesses to hold up to: 30,000 EUR

• Fee on anything above threshold: 0.90% per annum

Why have our costs increased?

• Recently we’ve implemented additional verification checks to keep your money protected.

• Markets have been more volatile, which makes it more expensive for us to buy and sell currencies.

• The negative interest rates in the Eurozone mean it costs us more money to hold larger amounts of EUR for our customers.

We know that this isn't great news, and we're sorry. We'll bring fees back down for you as soon as we can. Read more about when price changes could apply to you.

 

Thanks,
The Wise Team

Please follow the existing topic 

 

Thank you