Is Wise FDIC insured?

Wise is not a bank and does not offer FDIC insurance. However, US regulations require Wise to safeguard customer funds by holding them in segregated accounts at federally regulated banks or US Treasury money market funds. Wise is licensed as a money services business (MSB) in all 50 states and regulated by FinCEN. Your money is protected but not insured by the FDIC.

How much does Wise charge to send money internationally?

Wise fees range from approximately 0.43% to 2% of the transfer amount, depending on the currency pair and payment method. Bank transfer is the cheapest funding method. Debit and credit cards cost more. Wise always uses the mid-market exchange rate with no markup, which is a significant advantage over banks (which typically embed a 2–4% margin in the exchange rate) and PayPal.

How long does a Wise transfer take?

Most Wise transfers funded by bank transfer arrive within 1–2 business days. Some currency corridors, including USD to GBP and USD to EUR, can settle the same day. Debit card–funded transfers may process the sending side faster, but total delivery time still depends on the recipient country's banking system.

What currencies does Wise support?

Wise supports holding and converting 40+ currencies and sending money to 160+ countries. You can hold USD, GBP, EUR, AUD, CAD, NZD, SGD, HUF, RON, TRY, and many more in your Wise account and convert between them at the mid-market rate whenever you choose.

Does Wise offer a debit card?

Yes. Wise offers a Mastercard debit card linked to your Wise multi-currency account. It works in 150+ countries, supports contactless payments, and is compatible with Apple Pay and Google Pay. You get 2 free ATM withdrawals per month (up to $100 each). After that, a fee of 1.75% plus $1.50 per withdrawal applies.

Wise 2026 Review: Fees, Limits, Debit Card & International Transfers

Wise (formerly TransferWise) is a money transfer and multi-currency account service that lets you send money internationally using the mid-market exchange rate — the same rate you see on Google. Unlike banks, which embed a 2–4% margin into their exchange rates, Wise charges a transparent percentage fee and passes you the real rate. For frequent international transfers, that difference adds up to hundreds of dollars per year.

This hub covers everything you need to use Wise in 2026: fees broken down by corridor, transfer limits for personal and business accounts, the Wise debit card, how Wise protects your money, and how it compares to PayPal for international transfers.

Wise at a Glance (2026)

Feature	Detail
Transfer fee	~0.43%–2% depending on currency and payment method
Exchange rate	Mid-market rate, no markup
Currencies supported	40+ hold; send to 160+ countries
Transfer speed	1–2 business days (some corridors same-day)
Debit card	Mastercard; 2 free ATM withdrawals/month up to $100
Card fee (one-time)	~$9
ATM fee after free tier	1.75% + $1.50 per withdrawal
Account opening fee	Free
FDIC insured	No (funds safeguarded per FinCEN requirements)
US regulation	Licensed MSB in all 50 states; regulated by FinCEN
Send limit (personal)	Up to $1,000,000/year via bank transfer

What Wise Is — And Is Not

Wise is not a bank. It is a licensed money services business. You cannot:

Get a traditional savings account earning interest
Apply for a credit card or loan
Deposit cash

You can:

Hold balances in 40+ currencies
Convert between currencies at the mid-market rate
Receive money using local bank details (US routing/account number, UK sort code, EU IBAN, etc.)
Send international transfers in 160+ countries
Spend anywhere Mastercard is accepted using the Wise debit card

How Wise Fees Work

Wise charges a variable percentage fee plus a small fixed fee for each transfer. The fee is always shown upfront before you confirm — there are no hidden charges in the exchange rate.

Example: Sending $1,000 USD to EUR

Wise fee: approximately $4.37 (0.43% + $0.79 fixed)
Exchange rate: mid-market (e.g., 0.9180)
Recipient receives: approximately €913.60

A traditional bank wire for the same transfer would typically cost $25–$45 in wire fees plus a 2–3% exchange rate spread — meaning the recipient might receive €880–€895 instead.

Funding method matters:

Bank transfer (ACH): cheapest (~0.43%–0.7%)
Debit card: slightly higher
Credit card: highest (plus your card’s cash advance fee may apply)

For the full fee breakdown by corridor, see the Wise fees guide.

Wise Debit Card

The Wise Mastercard debit card connects to your multi-currency Wise account. When you spend in a foreign currency, Wise converts at the mid-market rate (with a small conversion fee) rather than the inflated rate most bank cards use.

Key card features:

2 free ATM withdrawals per month (up to $100 combined)
After free tier: 1.75% + $1.50 per withdrawal
No foreign transaction fee on spending up to $200/month (0.5% after)
Works with Apple Pay and Google Pay
Instant freeze/unfreeze in the Wise app

For full card details, see the Wise debit card guide.

Is Wise Safe?

Wise is regulated by FinCEN as a licensed MSB and holds state money transmitter licenses in all 50 US states. By regulation, Wise must hold customer funds in segregated accounts separate from its own operating funds — at FDIC-member banks or US Treasury money market funds.

This is not the same as FDIC insurance, but it means your money is protected from Wise’s insolvency. See the full Is Wise safe? article for details.

Wise Transfer Limits

Personal Wise accounts can send up to $1,000,000 per year via bank transfer. Individual transfer caps depend on the destination country and verification level. Most corridors allow single transfers of $50,000–$150,000.

Business accounts have higher limits and access to batch payment tools. See Wise transfer limits for the full table.

Wise vs the Competition

	Wise	PayPal	Bank Wire
Exchange rate	Mid-market	+2.5–4% markup	+2–4% markup
Transfer fee	0.43%–2%	5% (max $4.99) domestic; varies international	$25–$45 flat
Send to 160+ countries	Yes	Partial	Yes (via SWIFT)
Multi-currency account	Yes	No	No
Debit card	Yes	Yes	No

For a detailed head-to-head, see Wise vs PayPal.

Wise Review Summary

Best for:

People who frequently send money abroad (expats, immigrants, freelancers with international clients)
Travelers who want a low-cost multi-currency card
Anyone moving more than $500 internationally — the exchange rate savings alone beat banks

Not ideal for:

Domestic US transfers (Zelle, ACH, or Venmo are simpler and free)
Cash pickup — Wise is bank-to-bank only; use Western Union for cash pickup

Wise Articles

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy