PayoutMath
Platform Fees

Wise UK Business Fee Calculator

Wise Business charges a small fixed fee plus around 0.4 to 0.8 percent on currency conversion (varies by pair). Sending £1,000 to a US dollar account costs about £4.40. Significantly cheaper than traditional banks (typically 2 to 4 percent). Calculator below shows fees by currency pair.

Last verified: 25 April 2026 Source: Wise UK Business Pricing Next review: 25 October 2026
Inputs
Conversion amount —
Wise fee —
Total fees —
Amount converted (in target currency value) —
Effective fee % —
£1,000 to US dollar account
£1,000 transfer · GBP to US dollars

£1,000 × 0.4% + £0.40 fixed = £4.40. Net delivery £995.60. The 0.44% effective rate is roughly 5x cheaper than typical UK bank international transfer (often 2-4% all-in including FX margins).

£1,000 to euro account
£1,000 transfer · GBP to euros

£1,000 × 0.5% + £0.40 = £5.40. Euro transfers slightly more than US dollar due to slightly less liquid currency pair. Still dramatically cheaper than bank wire transfer (£20+ flat fee plus FX margin).

£500 to less common currency
£500 transfer · GBP to other currency

£500 × 0.8% + £0.40 = £4.40. Less common currency pairs cost more (0.8% vs 0.4%). Still cheaper than alternatives. Effective rate 0.88% reflects fixed-fee impact at lower transaction sizes.

Wise (formerly TransferWise) is the standard for transparent international money transfer. UK businesses regularly save 60-80% vs bank international transfers. Calculator above shows the per-transfer cost; below explores the wider use cases.

The transparent-fee model

Wise charges: 1. Small fixed fee (typically £0.40-£1.50) 2. Variable percentage based on currency pair (0.4%-0.8%) 3. Mid-market FX rate (the rate banks use between themselves — no hidden margin)

Banks typically charge: 1. Flat international transfer fee (£20-£25 SWIFT fee) 2. FX margin built into exchange rate (1-3% hidden cost) 3. Receiving bank fee (sometimes £5-£15 on the other side)

The hidden FX margin is what makes traditional bank transfers expensive. Wise’s transparency reveals it.

When to use Wise

  • Paying overseas suppliers (UK to international supplier in their local currency)
  • Receiving payments from international customers (multi-currency account with local account details)
  • Travel/relocation (Wise debit card for low-fee overseas spending)
  • International payroll (paying international contractors at fair FX rate)
  • Tax obligations in multiple countries (paying foreign tax bills at fair FX)

Wise Business — the multi-currency account

Free Wise Business account gives you:

  • UK account details (sort code + account number)
  • US account details (routing + account number)
  • EU IBAN (Belgian-issued)
  • Australian, NZ, Canadian local details
  • 40+ other currencies as held balances

Customers in those countries pay you LOCALLY (no international transfer fees on their side). You hold funds in source currency until you choose to convert. Used widely by UK Etsy/Patreon/freelance sellers serving international audiences.

Wise vs alternatives

Service Typical fee FX margin
Wise 0.4-0.8% None (mid-market)
Revolut Business 0% (within plan) None below plan limits, ~0.5% above
PayPal International 4% (hidden) 3-4%
Bank wire transfer £20-£25 + FX margin 1-3%
Western Union 5-15% (varies) 3-5%
Currencies Direct 0.5-1% None (similar to Wise)

Wise + Revolut Business are functionally similar for most use cases. Wise is the longer-established player; Revolut adds more fintech features.

Tax considerations for UK businesses

International transactions can trigger:

  • VAT on imports (above £135 from outside UK, or any from EU since Brexit)
  • Customs duties (depending on product type and origin)
  • Tax on overseas-source income (UK self-employment income from international clients still UK-taxable)

Wise transfers don’t change tax treatment — but they make tracking easier with clear transaction records and FX rates documented.

What this calculator doesn’t model

  • Volume discounts (Wise Business offers reduced rates above £100k/month)
  • Receiving-bank fees on the destination side
  • Instant-transfer surcharge (extra fee for immediate vs standard 1-2 day)
  • Multi-currency ‘hold’ usage (no conversion = no fee)
  • Wise debit card spending fees

For UK tax treatment of international income, see side hustle tax calculator. For payment-processor alternatives, see Stripe UK calculator or PayPal calculator.

Common mistakes
  • Comparing only the fee not the FX rate. Wise uses the mid-market FX rate (the rate banks use between themselves). Banks typically build a 1-3% margin into their FX rate ON TOP of any explicit fee. So a ‘free’ bank transfer can actually cost 2-3% in hidden FX margin. Wise’s transparent fee + mid-market rate is dramatically better.
  • Using Wise for in-country transfers (no need). Wise is for cross-border transfers. For UK-to-UK transfers, use Faster Payments (free, instant via your normal bank). Wise’s value is currency conversion.
  • Forgetting Wise Business has different rates than personal Wise. Personal Wise often has slightly different fee schedules. This calculator shows Wise Business UK rates.
  • Not using Wise multi-currency account. Wise offers free multi-currency accounts (hold balances in 50+ currencies, get local account details for major currencies). Useful for receiving payments in EUR/US dollars/etc without conversion. No monthly fee.
  • Choosing PayPal for international transfers. PayPal’s hidden FX margin is typically 4-5% on currency conversion — many times worse than Wise’s transparent ~0.5%. Always check if Wise is an option before defaulting to PayPal for international.
  • Skipping Wise debit card for travel. Wise debit card (free) charges low FX fee on overseas spending. Often beats UK travel-friendly cards (Revolut, Monzo, Starling) for less common currency destinations.
What this calculator doesn't cover
  • Doesn’t model business volume discounts (Wise Business offers reduced rates above £100k/month).
  • Rates approximate — actual fee varies by currency pair, amount, and payment method (bank transfer cheaper than card).
  • Doesn’t include receiving fees on the destination side (some banks charge incoming international transfer fees).
  • Doesn’t model Wise’s instant-transfer surcharge (small extra fee for immediate vs 1-2 business day standard transfer).
  • Doesn’t include FX rate fluctuation between quote and execution (typically <0.1% impact).
  • Doesn’t account for the multi-currency account ‘jar’ feature (hold balances without conversion).

Frequently asked questions

How does Wise compare to bank international transfers?

Wise is dramatically cheaper. UK bank international transfers typically cost £20-£25 flat fee + 1-3% FX margin. Wise: ~0.4-0.8% all-in transparent. For a £1,000 EUR transfer: bank ~£40-£55, Wise ~£5.40. The savings compound for businesses making regular international payments.

Is Wise safe for business?

Yes — Wise is FCA-regulated in the UK and SEC-regulated in the US. Customer funds held in segregated accounts at major banks. £85k FSCS-equivalent protection on UK balances. Used by Amazon, Google, Microsoft, and millions of UK SMEs.

Can I receive payments via Wise?

Yes — Wise multi-currency account gives you local account details (UK sort code + account number, US routing + account, EU IBAN, etc.). Receive payments locally; convert when ready. Free. Particularly valuable for UK creators selling to US/EU customers via Etsy, Stripe, Patreon.

What about Revolut Business?

Both are good. Revolut has more ‘fintech’ features (perks, crypto, expense management). Wise is purer transfers + multi-currency. For pure international payment cost, Wise edges ahead. For all-in-one business banking, Revolut Business is competitive.

Does Wise work for Vinted or Etsy international payouts?

Etsy pays UK sellers in GBP via UK bank transfer — no international fee needed. Vinted same. Wise is more relevant if you SOURCE products internationally (paying overseas suppliers in their local currency).

Are Wise fees tax-deductible?

Yes — international payment fees are normal business expenses, fully deductible against UK trading income. Track on Self Assessment. See side hustle tax calculator.

About this calculator. Maintained by Jordan — a UK seller and creator who actually uses these platforms (Etsy, eBay, Vinted, DistroKid). Built to be accurate, mobile-fast, and honest about its limits. Spot a bug? Email hello@payoutmath.co.uk.