Wise Test Wise Understanding Fees & Rates 2

Question 1

What type of exchange rate does Wise use for currency conversions?

Accepted Answer

The mid-market rate

Answer

A rate set 2% above mid-market

Answer

The bank's buying rate

Answer

A fixed daily rate

Question 2

How does Wise typically structure its transfer fee?

Accepted Answer

A percentage-based fee plus a small fixed fee

Answer

A flat fee only, regardless of amount

Answer

A percentage-based fee only

Answer

No fee — profit comes from the exchange rate markup

Question 3

Which of the following is TRUE about receiving money into a Wise account (USD)?

Accepted Answer

Domestic ACH transfers are received free

Answer

Wise charges a flat $5 fee per incoming wire

Answer

All incoming transfers cost 1% of the received amount

Answer

Receiving USD always requires a fee of at least $1

Question 4

What happens to Wise's percentage fee as the transfer amount increases significantly?

Accepted Answer

The percentage fee stays exactly the same regardless of amount

Answer

The percentage fee increases to cover currency risk

Answer

The percentage fee decreases because Wise offers volume discounts

Answer

The fixed portion disappears, leaving only the percentage

Question 5

A customer wants to send money from the US to the UK. Where can they see the exact fee BEFORE confirming the transfer?

Accepted Answer

On the Wise fee calculator on the website or app before initiating

Answer

Only in the confirmation email after payment

Answer

Fees are only disclosed after the transfer is processed

Answer

Customers must call Wise support to get a fee quote

Question 6

Which payment method in the US typically results in the LOWEST Wise transfer fee?

Accepted Answer

Bank transfer (ACH)

Answer

Credit card payment

Answer

Debit card payment

Answer

Wire transfer

Question 7

If Wise lists a fee of '0.43% + $0.79' for a USD to EUR transfer, what is the total fee on a $500 transfer?

Accepted Answer

$2.94

Answer

$2.15

Answer

$3.50

Answer

$1.36