Full guide to (Transfer)Wise limits in 2024 (2024)

FAQs

Is there a limit to how much you can transfer with Wise? ›

You can send up to 1 million GBP per transfer. Please keep in mind, if you want to send more than 1 million GBP, you'd need to transfer it from your Wise account. This means: You'll need to open an account for the currency you want to convert from and the currency to convert to (GBP).

Go to the Card tab. Select Spending limits. Select Change your spending limits. Select Increase your spending limit.

Conversion limits

Personal users can convert money up to 15 times in 24 hours. Business users can convert money up to 75 times in 24 hours. BRL accounts have a 10,000 BRL limit per conversion (Local taxes might be applicable). Depending on the currency, a sending limit may apply to how much you can convert.

The required details are account number, account name, IFSC Code, branch name, bank name, and account type of both persons. If the transaction exceeds Rs. 50,000, the remitter will have to provide his/her PAN card at the time of commencing the transaction.

Your money is safeguarded

We're licensed to hold your money and follow strict rules to keep it safe. As we're not a bank, your money isn't FSCS protected – we safeguard it instead. That means we hold it with established institutions, separate from our own accounts.

You can add, receive, or send up to 490,000 PHP (or equivalent in any currency), per transfer to and/or from your Wise account. There's no limit on how much you can hold in your Wise account.

Both Western Union and PayPal are popular choices for sending large sums of money overseas.

If the transfer amount exceeds the limit, the transaction may be rejected, or the bank may require additional verification before processing the transfer.

How do I transfer large amounts of money to another person? ›

If you're sending a large amount of money, you may want to use a wire transfer at your bank. You'll need the recipient's account and routing numbers. You and the recipient will likely incur fees. Wire transfers take place in less than 24 hours but do not occur on weekends or on bank holidays.

The total number of transactions one can make in a day is 20, as long as the cumulative amount sent does not exceed Rs. 1 lakh.

There are limits on how much you can spend with your Wise card and withdraw from ATMs. For all cardholders, there are monthly limits that reset on the first day of each month. There are also daily limits that reset each day at midnight.

If you earned 10 or more USD in the 2023 calendar year across your interest-earning balances we'll provide you with a 1099-INT to comply with standard IRS tax procedures. To download your 1099: Select your profile icon (top left in the app or top right on the website) Select Statements and Reports.

This means either using your bank, or a trusted, regulated and secure money transfer service. Look for providers that are regulated by the Financial Conduct Authority (FCA) and which offer advanced security features like data encryption and 2-factor authentication to protect account access.

How much money can you wire without being reported? Financial institutions and money transfer providers are obligated to report international transfers that exceed $10,000. You can learn more about the Bank Secrecy Act from the Office of the Comptroller of the Currency.

Your bank account and Wise names don't match

When you send us a payment, the name on the bank account where the money is coming from must match your name on Wise. The only exceptions are if you're paying from a joint account, or if you're paying as a business through your Wise Business account.