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

Wise uses the mid-market exchange rate, which is the midpoint between the buy and sell prices on global currency markets.

Question 2

How does Wise typically structure its transfer fee?

Accepted Answer

A percentage-based fee plus a small fixed fee

Answer

Wise charges a combination of a small fixed fee and a variable percentage fee based on the amount being transferred.

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 provides free US account details for ACH transfers, so domestic bank transfers to your Wise USD balance are typically free to receive.

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

Wise's percentage fee remains constant — it does not offer volume discounts for larger transfers, though the fixed component becomes proportionally smaller.

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

Wise displays the full fee breakdown upfront in its fee calculator, so users see exactly what the recipient will receive before confirming.

Wise Practice Test

Wise Practice Test

Wise Test Wise Understanding Fees & Rates 2