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  • Why using Wise is more expensive when using Bunq?

Sending €700 in Bunq costs €3.96. Using Wise.com the most expensive Fast transfer is €3.27. And anyway, why I can't use the cheaper Easy/Slow modes from Bunq app?

    @Viktor-Green-Falcon#235523 Could you tell us more details about your transfer? What currency are you trying to send to and what country?

    Using the Wise integration should always cost just as much as the cheapest choice on Wise.com 😊

      I'm trying to send €700 to an EUR based Vietnamese account.

        Ich bekomme langsam das Gefühl, dass bunq mehr und mehr mit versteckten Kosten arbeitet. Nicht schön.

          @Viktor-Green-Falcon#235531 I tried to set up an EUR transfer to a Vietnamese account both inside the bunq app and on Wise.com -- both times the fees came out to the exact same 3,96 EUR. Maybe you didn‘t calculate the additional fixed SWIFT transfer fee of 3,55 EUR? https://wise.com/help/articles/2968916/sending-eur-to-countries-outside-of-europe

          I‘d agree it‘s a bit clearer in the bunq app. But it is also shown on Wise.com after you put in the recipient information for a country like Vietnam that doesn‘t support SEPA payments.

            10 months later

            Reading the above, I don't understand why every time I send money to my Bunq foreign currency (NOK) account, I'm being charged €10 fixed price. When I transfer from my Wise account directly, I'm charged only a fraction of this. Can anyone explain?

              @eljejer#271894 Foreign currency accounts are indeed not the same as using Wise. There is also a Wise integration inside the bunq app, but to use it you have to click on "Currency not listed? Use Wise!" (even when NOK is listed) in the currency selection.

              Basically local currency accounts and the Wise integration are just two different things, completely separate, and they have different fee structures. Depending on what your goals are, you would need to decide which one is better for you to use.

                @Jakob-Y#271895 Thanks Jakob! I understand now. Apparently this was not so obvious to me when I wanted to set up a system to regularly move money from my Dutch to my Norwegian bank account. I'll use "Currency not listed? Use Wise!" from my normal bank account next time :-)

                  7 months later

                  Hi Jakob. Could you explain when using the foreign currency account is better than using wise? Seems like the fees are much higher. Am I missing something?

                    @New-Azure-Hummingbird-2293656411#278439 Seems like the fees are much higher.

                    In most cases I'd advise to use Wise. Whether through the integration or through their own app. But not all fees are that high at bunq, especially when using domestic payment networks (supported for UK and US currently) instead of SWIFT.

                      10 months later

                      Hey, I have a business account (Easy Bank plan). My goal is to receive USD payments and convert them via Wise to EUR. (I don't need to transfer out USD.)

                      I am not able to integrate the Wise app into Bunq. Can anybody help with this?"

                        @New-Scarlet-Camel-1501638420#291963 Wise is only for outgoing payments, not for incoming payments or for converting money between your own bunq accounts.

                        If you want to receive USD payments, you need to ask the sender to send it in EUR. Because you could only receive USD payments by opening a Local Currency sub-account, for which you need the Easy Money plan.

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