International money transfers can be expensive if you don’t account for hidden charges, fluctuating exchange rates, and service fees. The Wise Calculator is a powerful tool that helps you determine exactly how much you’ll send or receive using Wise (formerly TransferWise), factoring in real exchange rates, low transfer fees, and transparent calculations. Whether you’re sending funds to family abroad, paying freelancers, or conducting international business, this calculator provides accurate, up-to-date results to plan your transactions effectively.
What is the Wise Calculator?
The Wise Calculator is an online tool designed to estimate the amount you will send or receive when making international payments through Wise. It takes into account:
- Transfer amount in your currency.
- Exchange rate used by Wise (mid-market rate).
- Transfer fee charged by Wise.
- Final amount received in the recipient’s currency.
By knowing these figures, you can avoid surprises and ensure your recipient gets the intended amount.
How to Use the Wise Calculator
Using the Wise Calculator is straightforward:
- Enter the Amount to Send
Type the amount you plan to transfer in your local currency (e.g., USD, GBP, EUR). - Select Currencies
Choose the sending and receiving currencies from the dropdown menu. - Input the Exchange Rate
Use the current mid-market exchange rate from Wise or enter a custom rate. - Enter Wise Transfer Fee
This can be a flat fee or a percentage depending on the amount and currency. - Click Calculate
The tool will show:- Total transfer fee
- Amount converted
- Amount the recipient will receive
- Adjust to Compare
Change amounts or rates to compare transfer scenarios.
Formula Used in Wise Calculator
The Wise Calculator uses the following calculation:
- Transfer Fee = (Transfer Amount × Fee Percentage) + Fixed Fee
- Amount After Fee = Transfer Amount – Transfer Fee
- Converted Amount = Amount After Fee × Exchange Rate
- Recipient Receives = Converted Amount (in target currency)
Example Formula in Plain Text:
Recipient Amount = (Transfer Amount – (Transfer Amount × Fee% + Fixed Fee)) × Exchange Rate
Example Calculation
Scenario: You want to send $1,000 USD to someone in EUR.
- Transfer Amount: 1,000 USD
- Exchange Rate: 0.92 EUR/USD
- Wise Fee: 0.5% + $2 fixed fee
Step 1 – Calculate Fee:
0.5% of $1,000 = $5
Add fixed fee $2 = $7 total fee
Step 2 – Subtract Fee:
$1,000 – $7 = $993
Step 3 – Convert to EUR:
$993 × 0.92 = €913.56
Final Result:
Your recipient will receive €913.56.
Why Use the Wise Calculator?
- Transparent Fee Calculations – No hidden costs.
- Accurate Currency Conversion – Uses real mid-market rates.
- Time-Saving – Instantly compare different amounts and fees.
- Budget Planning – Helps you plan your transfers in advance.
Extra Tips for Using Wise Effectively
- Check Rates Before Sending – Exchange rates can fluctuate daily.
- Consider Sending in Recipient’s Currency – Sometimes fees are lower.
- Avoid Urgent Transfers When Possible – Gives time to catch better rates.
- Compare With Other Providers – Ensure Wise remains your best option.
20 Frequently Asked Questions (FAQs)
1. What is Wise?
Wise is a global money transfer service that offers low-cost, transparent international payments.
2. How does the Wise Calculator work?
It calculates the total amount you’ll send or receive by factoring in Wise’s fees and exchange rates.
3. Is the Wise Calculator free to use?
Yes, it’s completely free.
4. Where can I find Wise’s current exchange rate?
On the official Wise website or app, updated in real time.
5. Does Wise always use the mid-market rate?
Yes, Wise uses the real mid-market rate without markup.
6. Are Wise fees fixed or percentage-based?
They can be both—percentage-based plus a small fixed amount.
7. Can I use the Wise Calculator for business payments?
Yes, it works for both personal and business transfers.
8. Does Wise charge the recipient?
Generally no, fees are paid by the sender.
9. How accurate is the calculator?
It’s highly accurate if you input the correct rates and fees.
10. Can I calculate reverse transfers?
Yes, you can calculate how much to send to achieve a target received amount.
11. What currencies does Wise support?
Wise supports 50+ currencies globally.
12. Is Wise cheaper than banks?
Usually yes, because banks often have higher fees and worse rates.
13. Can I lock in a rate with Wise?
Yes, Wise allows rate locks for a limited time.
14. Does Wise have limits on transfer amounts?
Yes, limits vary by currency and country.
15. Is Wise safe?
Yes, it is regulated by financial authorities worldwide.
16. Can I avoid fees entirely?
No, but Wise’s fees are much lower than traditional options.
17. Does the Wise Calculator include recipient bank fees?
No, you’ll need to check with the receiving bank.
18. Can I save my calculations?
Some tools allow exporting or saving; check your calculator’s features.
19. Is Wise available in all countries?
No, but it is available in most major countries.
20. Does Wise offer instant transfers?
Yes, for certain currency routes and payment methods.