- Our average fees dropped by 0.02%, to our lowest level in 4 years. We ended the year with an average fee of 0.60%
- Since we were able to decrease fees on an additional 5 currency routes this quarter, 2.7 million customers sent, spent, or received money with lower fees in 2021 compared to 2020.
Which routes have new fees?
In Q4, we lowered fees for sending money to Japan, Ukraine, and Thailand.
Additionally, our teams lowered our costs for sending money to Mexico, which let us bring those fees back down close to the levels they were at before we had to raise them in Q2 2021.
Fees are now also lower when you convert from Philippine peso in your Wise account, and sending money from Malaysia will be cheaper for the majority of you. (If you’re a Malaysian resident, we need to charge a 6% Sales and Service Tax (SST) when you send money from MYR, so transferring to certain currencies might come with a slight increase in fees for you.)