Most Wise transfers use a guaranteed rate. This means as long as we receive your money on time, you'll get the exchange rate you saw when you set up the transfer.
However, sometimes we can only offer a live rate (also called a floating rate). This happens when the exchange rate is especially volatile.
With a live rate, we convert your money at the rate that is active when Wise receives and processes your payment. Because the mid-market rate changes constantly, your recipient might get slightly more or less than originally estimated.
Note, the name for your 'main account' in Wise can vary based on your location. To find the exact terminology used in your region, please check the product directly.
How do I know if my transfer has a live rate?
You'll always know before you pay. When you set up your transfer, we'll show you a message in the calculator stating that the exchange rate isn’t guaranteed.
How do I send an exact amount if the rate is live?
If your transfer has a live rate, you won't be able to use the Recipient gets box to enter a specific amount. This is because the rate will change between the time you send the money and when we receive it, so we can't calculate the exact cost upfront.
If you need your recipient to get an exact amount, follow these steps:
Add money to your Wise account in the currency you are sending from. Learn how to add a currency here.
Convert that money to the currency your recipient needs. Because the money is already with Wise, the conversion happens instantly at the current rate.
Send the converted money from your Wise account to your recipient.
Since the money is already converted and held in your account, your recipient will receive the exact amount you send.