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Dominique
Dominique (@guest_1846241)
May 17, 2024 13:35

I received this email. If you click the link from the email for the full list of fee changes, it will tell you the fee changes will start within 21 days of the date you received the email. This is only for the U.S., other countries have a different timeline I guess. I received my email on 5/13, so the fee increase should start on or around 6/3. If you have Wise transfers you need to send for triggering bank bonuses, get them in as soon as possible before the price increase. Wise will still be worth it for me to use even with the fee increase though.

mangorunner
mangorunner (@guest_1846360)
May 17, 2024 15:57

Thanks, Dominique . That was a most convoluted announcement and I didn’t dig deep enough for the effective date. Appreciate it!

mangorunner
mangorunner (@guest_1846225)
May 17, 2024 13:17

• Reminder: you can “opt in” to earn interest on your Wise balance:
https://www.doctorofcredit.com/contact-us/#comment-1829830
Last month, the interest earned offset the fees paid. (Thanks, mothman69!)

• I made a transfer out of Wise today and was charged the old fee, $0.39. Not sure when the new rates go into effect but nice to get one more at the lower rate.

RK
RK (@guest_1844951)
May 15, 2024 00:39

Why would people use Wise and not revolut? Revolut is cheapest service for currency exchange.

acslaterbro
acslaterbro (@guest_1845001)
May 15, 2024 07:39
  RK

its not though. Sending money from europe to the USA Atlantic money is the cheapest. Sending money from USA to Europe Wise still beats revolut. Only in small values sometimes revolut still wins. Once you hit 1400€ revolut is no longer cheaper.

jcalling
jcalling (@guest_1845004)
May 15, 2024 07:54
  RK

Revolut definitely doesn’t have the best exchange rate at times. And I think they take a 1% fee if you try to exchange on weekends

ShawntheShawn👈🏾
ShawntheShawn👈🏾 (@guest_1845407)
May 16, 2024 00:07
  RK

Many DoC readers use Wise to satisfy DD requirements for bank bonuses.

Domkrat
Domkrat (@guest_1844926)
May 14, 2024 23:36

Not a wise move

Jim
Jim (@guest_1844821)
May 14, 2024 19:38

Having used Wise a few times for DD simulation, I’ve been very pleased with the results… so paying $0.74 more is negligible

Still quite a bit cheaper than Chase business checking payment services

86
86 (@guest_1844961)
May 15, 2024 01:27

Does it work as DD for SoFi?

Katie P
Katie P (@guest_1845221)
May 15, 2024 16:39
  86

No.

86
86 (@guest_1849310)
May 23, 2024 20:21

Thanks.

Panos
Panos (@guest_1844792)
May 14, 2024 19:08

Would be nice to have a direct comparison between various methods of sending/receiving money in/out of US. E.g. for 1000USD how much EUR you would receive (excluding the bank fees themselves which of course vary)

Jeremy
Jeremy (@guest_1844882)
May 14, 2024 21:39
Panos
Panos (@guest_1845009)
May 15, 2024 08:36

Thanks, but it doesn’t include the other providers mentioned in the other comments.. (e.g. IBKR, Schwab..)
Maybe because it’s biased?

Doctor
Doctor (@guest_1844780)
May 14, 2024 18:52

I have been doing international transfers quite a lot in last 8-12 months. For me Xe is always cheaper than wise or remitly.

googlre10
googlre10 (@guest_1845090)
May 15, 2024 11:43

is that instant transfer? or takes days?

Lrdx
Lrdx (@guest_1844727)
May 14, 2024 17:04

For small amounts, Wise is fine. But for larger amounts, it’s MUCH better to use IBKR for exchange due to their flat fee structure.

James
James (@guest_1844974)
May 15, 2024 04:28

What is considered large?

Anon
Anon (@guest_1844725)
May 14, 2024 16:58

Cheaper than revolut?

Eric Connects
Eric Connects (@guest_1844706)
May 14, 2024 16:16

Very unwise.