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Wise: sending money to other Wise Business accounts

koru
Posts: 1,534 Forumite


I'm thinking of setting up a Wise Business account to pay a supplier in the Netherlands. If you have used a Wise Business account to make payments overseas, I'm hoping you can explain a few things about their fees, which are not clear from their website.
1. https://wise.com/gb/pricing/business says there’s a 0.35% fee to send money and a 0.35% fee to convert money. Does that mean that if I use GBP to send euros to a supplier's euro bank account, I pay 2x 0.35% = 0.7% fees? Or if the conversion and transfer are done together, is it just one lot of 0.35%?
1. https://wise.com/gb/pricing/business says there’s a 0.35% fee to send money and a 0.35% fee to convert money. Does that mean that if I use GBP to send euros to a supplier's euro bank account, I pay 2x 0.35% = 0.7% fees? Or if the conversion and transfer are done together, is it just one lot of 0.35%?
So, if I get my supplier to set up a Wise Business account, then if I want to use GBP to send them euros, do I still pay 0.35% to convert to euros? (Depending on the answer to 1, this might not be any fee saving.)
3. If I persuade the supplier to let me pay their Wise Business account in GBP, would I pay no fee for sending or conversion?
4. Can I still send GBP if the supplier’s Wise Business account is a euro account, or would I need them to set up a GBP account?
4. Can I still send GBP if the supplier’s Wise Business account is a euro account, or would I need them to set up a GBP account?
koru
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