Wise Limits 2024: Full Guide

Quick summary

• Customers in the UK can usually hold an unlimited amount of money with Wise, with no holding fee

• Wise has high transfer limits which vary by currency but which are usually set at around the equivalent of 1 million GBP

• You can spend and make withdrawals with a Wise card, to a fixed monthly limits

• You can also set your own spending and withdrawal limits, which you can alter in the Wise app

• Wise is safe for business and personal customers, even when holding or sending high value payments

Does Wise have limits?

Wise customers can open flexible multi-currency accounts which allow them to hold 40+ currencies, send payments to 160+ countries, and spend with a Wise card in 150+ countries.

Wise has a few limits on how much customers can send and spend from their account. These limits apply for security reasons, and to help keep customers’ accounts and funds safe. Generally, the limits in place with Wise are set at a fairly high level to allow customers to transact safely for themselves and their businesses - but it’s still well worth double checking the Wise limits which may apply to your account if you’re planning on making a high value payment or large purchase soon.

Wise transfer limits

Wise money transfer limits can vary a little depending on the currencies involved. However, Wise is safe even for high value transfers, and limits are set to allow individuals and businesses to transact freely. If you’re sending GBP from your bank, you can usually send up to 1 million GBP per transfer.

In some cases the limits can change based on how you want to pay for your transfer. There’s a lower limit when sending GBP by card, for example - but if your payment exceeds the card limit, you won’t be shown credit or debit card as a funding method you can select.

If you do run into a Wise limit you’ll be able to get information and advice about your options easily online or by opening an in-app chat with customer services.

Here’s a look at the per transaction limits Wise uses for international payments, split out by currency. We’ve covered some popular currencies here - you can learn more online in the comprehensive range of transfer guides provided by currency.

Wise account limits

With a Wise account you can hold and exchange 40+ currencies, and get local and SWIFT account details in select currencies to get paid conveniently by others. It’s free to hold money with a Wise UK account, and there’s generally no limit to the balance you can keep in Wise. However, some limits may apply to Wise accounts issued elsewhere in the world - so if you're not a Wise UK customer it’s worth checking the online terms and conditions for your specific account for more information.

Limits may also apply when receiving a payment to some Wise currency balances - more on that next.

Wise account receiving limits

With a Wise UK account you can get local and SWIFT account details in a selection of currencies, to receive money to your account. It’s often free to get paid into your Wise account by others, although a couple of key fees do apply which it’s worth knowing about:

• There’s a 6.11 USD fee per transaction for receiving USD wire transfers

• There’s a 10 CAD fee per transaction for receiving CAD SWIFT payments

  In both cases, there are other ways to receive payments to your account with no fee - such as by asking the sender to use an ACH to transfer your USD payment, for example.

In most cases, there are no limits on how much you can hold in a Wise account, or how much you can receive into your account using local details. However, there are some exceptions - importantly, when receiving USD to Wise.

If you use your local USD bank account details to receive money to Wise, and your routing number starts with 026, limits on how much you can receive apply as follows:

• Per transaction and per day - personal customers can receive 20 million USD, business customers can receive 50 million USD

• Per year - personal customers can receive 35 million USD, business customers can receive 150 million USD

  USD accounts which have different routing numbers can receive unlimited amounts - and as you can see, even if your account is subject to a limit, the level is set very high for both personal and business customers.

Wise card limits

You can order a Wise card which is linked to your Wise account. There’s a one time fee to get your card, and then no ongoing costs. You’ll just need to top up your money in GBP and you can spend in 150+ countries globally. Either switch to the currency you need in your account in advance - or let the card automatically convert for you when you buy something if you prefer.

Wise cards have limits which are set for security purposes. Your card comes with default set limits which you can change if you would like to. Your default card limit is set so that the monthly limit is also your daily limit:

If you want to lower your monthly limits or set daily limits you can do so in the Wise app. Daily limits refresh each day at midnight, while monthly limits restart on the first day of each calendar month.

How to change spending limits on Wise card

If you’re not happy with the default limits it’s easy to change them to suit you - just log into your account on the Wise app or desktop site.

Here’s what to do:

1. Log in and go to the Card tab - tap Limits/Edit Limits

2. Choose the limit you’d like to change -  spending or ATM withdrawals - and tap on Change your spending limits

3. Enter your chosen limits and tap Save

   How to check Wise card limits

You can view your Wise card limits, and see how much you have left on any particular limit, by logging into your Wise account online or in the app, and tapping the Cards tab.

Wise Business limits for account & card

You can open a Wise Business account for your company, and order a linked debit card for yourself, and expense cards for your team members. That can make international business spending easier, cheaper and simpler to manage.

There are limits to how much you can spend or withdraw with a Wise Business account. The limit is set according to the country your business is registered in.

Wise Business cards spending limits

Wise Business debit and expense cards come with some spending and withdrawal limits, which are set for security.

If you’re a sole trader, your limits will be the same as for a personal account.

If you’ve got a registered business your limits are different. The limit applies for all card holders linked to one business account. That means that if one team member makes a high value purchase and exhausts the monthly spending limit, the limit is exhausted for all card holders until it resets. Here are the limits based on the location your business is registered in:

Wise Business expense card limits

You can issue Wise Business expense cards to team members who need to spend on behalf of the business. To make sure you’re still in control of the account, you can set spending limits for each member, which the individual can then view in the Wise app. You can also choose to limit the amount any team member can take out of ATMs, or block a card or cards temporarily to allow you to control your business cash flow more easily.

How to check Wise Business limits

You can view your Wise Business card limits, and see how much you have left on any particular limit, by logging into your Wise account online or in the app, and tapping the Cards tab. If you have issued Wise expense cards to team members they’ll be able to see their own limits within the app but can not access any sensitive details unless you've given permission within the multi-user access function.

Conclusion: Does Wise have limits?

Wise accounts let individual and business customers in the UK and around the world hold, send, spend and exchange currencies conveniently and with low fees. There are a few Wise limits which apply to some services and transactions, set for security, and to make sure customer accounts are kept safe.

Generally, Wise transfer limits are set very high, at the equivalent of around 1 million GBP per payment. This is to allow individual and business customers to transact freely. There’s also usually no limit on the amount of money you can receive into your Wise UK account using local account details. No matter what you need to do, the good news is that Wise is safe, licensed and regulated around the world. That means it’s a secure way to hold even high balance amounts, and to send high value payments, with low charges and the mid-market exchange rate.