Moving money to UK? Transferwise fees are going down

March 14, 2018


Hello, TransferWise has some great news.
Launched in 2011, TransferWise is a UK based peer-to-peer money transfer service. Sending money around the world is expensive, but using Transferwise allows people to send their money abroad at the lowest possible cost. It supports more than 300 currencies and multi-currency accounts.  
On March 15th, fees on all transfers from JPY to GBP will be going down. 

The new fee will be ¥110 + 0.55% of the amount you send. Here is how this will affect your transfers: 

Amount Old fee New fee Difference
¥1,000 ¥400 ¥116 ¥284 cheaper
¥10,000 ¥400 ¥165 ¥235 cheaper
¥50,000 ¥400.00 ¥385.00 ¥15 cheaper
¥100,000 ¥800.00 ¥660.00 ¥140 cheaper
¥250,000 ¥2,000.00 ¥1,485.00 ¥515 cheaper
¥500,000 ¥4,000.00 ¥2,860.00 ¥1140 cheaper
¥1,000,000 ¥8,000.00 ¥5,610.00 ¥2390 cheaper

Why is TransferWise changing their fees? 

When TransferWise opened for business, they based their fees on how much they had thought transfers would cost to process. 

Since then, they have gotten better at what they do, and their costs have gone down on transfer routes and amounts. Fees have been lowered in some places so customers can pay less for their transfers. 

To read more on why they are changing their fees, read their blog post