Wise Update on transfers to Ukraine
This article was published on 15 March 2022. Fees, campaigns and availability may have changed since — check the provider’s current terms.
It is tragic to watch Russia attack Ukraine, and the growing violence towards civilians on a daily basis. The war is an incredibly tragic reality for people in Ukraine, their families and friends. Wise stands with Ukraine and its people, including all of their families, and friends.
Here is some information that may be useful:
- Sending limit of £10,000 (or equivalent) per transfer (moved up from initial limit of £200). Wise team is working to further increase this cap as soon as possible.
- Wise is waiving fees for donations to the following list of charitable organisations. Full list here: https://wise.com/gb/blog/waiving-fees-charities-ukraine
- https://wise.com/community/support-for-people-in-ukraine – this hub contains more information on how to send to money to Ukraine and a list of charities that Wise supports sending payments to.
What’s changing?
Wise is temporarily using the exchange rate set by the National Bank of Ukraine to calculate the rate for transfers to Ukraine. Here’s what that means:
- When you transfer USD to UAH, Wise will use the exchange rate set by the National Bank of Ukraine.
- When you transfer money from a different currency (for example EUR or GBP), Wise will determine the equivalent value in USD using the mid-market rate set by Reuters or XE. Then, Wise will use the exchange rate set by the National Bank of Ukraine to convert that amount to UAH.
- Because of this, Wise unfortunately won’t be able to guarantee the rate of your transfer.
