How to withdraw money from Wise to bank account
Wise accounts can be used to receive payments in 10 currencies, and to hold any of over 50 supported currencies. If you’ve got a balance in your Wise account you might want to withdraw it to your regular bank account, or use your Wise card to make cash withdrawals from an ATM at home or abroad.
In this guide we’ll cover how to withdraw money from Wise to a bank, how to use your Wise card to make ATM withdrawals, and all you need to know about the fees and limits involved.
Table of contents
- How to withdraw money from a Wise account
- Option 1: Withdraw money from Wise to a bank account
- Option 2: Wise cash withdrawal at an ATM
- How to withdraw money from Wise to a bank account
- Fees & limits to withdraw to bank account
- How to withdraw cash from a Wise account
- Fees & limits to withdraw cash
How to withdraw money from a Wise account
If someone has sent you a payment to your multi-currency Wise account, or if you’ve got a balance in your Wise account that you want to use, you can withdraw your money from Wise in USD or the currency of your choice.
You can withdraw money from Wise in two main ways: send the money from a Wise balance to a bank account or get a Wise card and withdraw cash. We’ll cover both Wise withdrawal options in more detail below.
If someone is sending you a payment through Wise, it’s also good to know you can have the funds deposited to your regular bank account if you’d prefer. You don’t need to have a Wise account to receive money through Wise at all if you don’t want to – we’ll also touch on how receiving money with Wise without a Wise account works, a little later.
Here’s what we’ll focus on first – withdrawing from a Wise account balance:
Option 1: Withdraw money from Wise to a bank account
If you hold a Wise balance in any of the 50+ supported currencies, you can withdraw some or all of your money to a bank account. You’ll be able to either send funds without switching currencies, or convert a balance in your Wise account to the currency you need as part of the withdrawal.
Option 2: Wise cash withdrawal at an ATM
Wise account holders can also get a Wise international debit card and use it to make cash withdrawals at any of millions of ATMs around the world. All account holders can make some free withdrawals every month, in 170+ countries, with low fees once your free transactions are exhausted.
How to withdraw money from Wise to a bank account
You can withdraw money from a Wise balance to a bank account – either in the same currency of the balance, or in a different supported currency, depending on your preferences. Here’s how to withdraw money from Wise to a bank account easily in the Wise app:
1. Log into the Wise app and select the balance you want to withdraw from
Simply tap the currency balance you want to withdraw from in the app’s home page, to see your balance in that currency, and your options.
2. Select Send and enter or choose the bank account you want to withdraw to
You’ll be able to select a recipient account from those you’ve previously withdrawn or sent money to, or tap add a new recipient to enter a new bank account. You can save accounts under a nickname to make it easier to find them next time, too.
3. Enter the amount you want to withdraw
Enter the value you want to withdraw, confirm the currency, and check any fees that apply to your withdrawal. You’ll also get a delivery estimate so you’ll know when to expect the money to arrive.
4. Confirm the payment to transfer your balance to your bank account
Check everything over, confirm the payment using your 2 step authentication settings, and you’re good to go. You’ll be notified in the app when your transfer is being processed.
Fees to withdraw money from Wise to a bank account
If you’re withdrawing from Wise without any currency conversion – so from a USD balance to a US based USD account, for example – there’s just a small transfer fee to pay. Here are the Wise fees to withdraw USD to a bank account in USD, using a wire transfer, across a couple of payment values:
|Withdrawing USD to a USD account – withdrawal amount
|Withdrawing USD to a USD account – Wise fee
If the currencies are different – withdrawing from a Wise USD balance to a EUR account, for example – you’ll see the exchange rate being used, the currency conversion fee and how much you’ll receive in your bank account once the withdrawal has been processed.
Currency conversion uses the mid-market exchange rate and low fees from 0.41%. To illustrate, here are the Wise fees to withdraw USD to a EUR bank account, using a wire transfer, across a couple of payment values:
|Withdrawing USD to a EUR account – withdrawal amount
|Withdrawing USD to a EUR account – Wise fee
Limits to withdraw money from Wise to a bank account
Wise has a withdrawal limit which varies based on how you want to send your USD payment, and where you live. The maximum payment amount can be as high as 6 million USD, and you’ll always be shown the limits which apply when you’re setting up your withdrawal.
Can I withdraw cash from a Wise account?
So, can you withdraw cash from Wise? The good news is that you can easily order a Wise card and withdraw cash at an ATM at home or abroad.
There’s a one time order fee of 9 USD to pay when you get your first Wise card, with no monthly or annual fees after that. You’ll also get some free ATM withdrawals every month. More on the Wise ATM withdrawal fees and limits, next.
More information: How to use Wise card abroad
How to withdraw cash from a Wise account
Let’s walk through how to order a Wise debit card step by step, so you’ll be ready to withdraw cash from your Wise account.
- Log into the Wise app or head to the Wise desktop site
- Tap the Cards tab and order your Wise card – you’ll need to have a currency balance to place your order
- Confirm your personal details, and complete any required verification step
- Pay the one time order fee of 9 USD
- Your Wise card will arrive in the mail
- Once your Wise card arrives you can activate it by entering the 6 digit code that’s on the card, into the Wise app – you’ll also set your own PIN for security
Once you have activated your Wise card you can make cash withdrawals at ATMs around the world. Simply insert your card and enter the Wise PIN you’ve picked, just like using any other ATM card. It’s helpful to know your card must be activated while you’re in the US – so get this step completed before you head off, if you’re planning on travel.
Wise card ATM cash withdrawal fees
You can take out cash from an ATM for free twice a month, up to a total amount of 100 USD. After that, there’s a fee of 1.50 USD per transaction, plus 2% of the withdrawal amount.
If you’re withdrawing in a currency you don’t hold in your Wise account, your Wise card will convert funds from the currency balance that offers the lowest possible fees, with conversion costs from 0.41%.
More information: Wise fees
Wise ATM withdrawal limit
Wise ATM limits for Wise cards linked to US Wise accounts are as follows:
- Single withdrawal limit: default – 250 USD, maximum 1,000 USD
- Daily withdrawal limit: default – 250 USD, maximum 1,000 USD
- Monthly withdrawal limit: default – 1,500 USD, maximum 6,000 USD
ATM operators might have their own limits which could be lower than the Wise limits imposed. If you want to adjust your own Wise card limits you’ll be able to do so easily in the Wise app.
Receiving money from Wise
The options we’ve looked at so far cover how to withdraw money from a Wise account if you already hold a Wise balance. However, you don’t necessarily need a Wise account to receive money through Wise.
If someone wants to send you a payment through Wise you can simply give them your regular bank details, and they can set up the transfer to be deposited right to your normal bank account.
You won’t need to do anything to get your money, and the sender can set up a notification so you get an email when the payment has arrived in your bank account.
Conclusion: How to withdraw money from Wise
You can withdraw money from Wise if you hold a Wise balance in any of the 50+ supported currencies in the Wise multi-currency account. Withdraw from your Wise currency balance by sending the funds to your preferred bank account, or by getting a Wise debit card to make a cash withdrawal at home or abroad.
If you’ve not got a Wise account, you can still get paid through Wise to your regular bank account. Just give the person sending you money your normal bank details, and the payment can be deposited right into your account for convenience – with many payments arriving instantly.
Use this guide to help you withdraw a Wise currency balance easily, or to get paid by someone else right to your bank account with a Wise low cost transfer. Easy.
How do I withdraw money from my Wise account?
Withdraw a Wise currency balance by sending it to your normal bank account, or by ordering a linked Wise debit card that allows you to make cash withdrawals all around the world. There’s a low fee to make a withdrawal from Wise to your bank account, and all Wise card holders can make up to 2 ATM withdrawals fee free every month, to a maximum of 100 USD. Low ATM fees apply after that.
Can you withdraw money from Wise?
Yes. If you hold a Wise account balance you can withdraw it back to your regular bank account, or get a Wise debit card to withdraw your money from an ATM at home or abroad. There’s a low fee to withdraw funds from Wise to a bank, which varies depending on whether or not you need to convert currencies to complete your withdrawal. All Wise card holders can make some fee free ATM withdrawals every month, too.