TransferWise

What Are the Limits on TransferWise Transfers?

TransferWise is a popular online money transfer service that allows individuals and businesses to send money internationally at low fees. Understanding the transfer limits set by TransferWise is crucial to ensure a smooth and successful money transfer experience.

Transfer Limits Overview

Transfer limits are the maximum amount of money that can be transferred through TransferWise within a specific timeframe. These limits vary depending on several factors, including the sender's country of origin, the recipient's country of destination, the payment method used, and the account verification level.

Factors Influencing Transfer Limits

• Account Verification Level: Transfer limits are typically higher for fully verified accounts compared to basic verified accounts.
• Country of Origin and Destination: Different countries have different transfer limits due to local regulations and currency restrictions.
• Payment Method: Transfer limits may vary based on the payment method used. Credit/debit card limits are often lower than bank transfer limits.

Types Of Transfer Limits

TransferWise offers different transfer limits for individual and business accounts.

Individual Transfer Limits:

• Daily Limits: The daily transfer limit is the maximum amount that can be transferred in a single day.
• Weekly Limits: The weekly transfer limit is the maximum amount that can be transferred in a single week.
• Monthly Limits: The monthly transfer limit is the maximum amount that can be transferred in a single month.

Business Transfer Limits:

• Daily Limits: The daily transfer limit for businesses is typically higher than for individuals.
• Weekly Limits: The weekly transfer limit for businesses is also typically higher than for individuals.
• Monthly Limits: The monthly transfer limit for businesses is typically the highest among all transfer limits.

Consequences Of Exceeding Transfer Limits

Exceeding transfer limits can result in several consequences, including:

• Temporary Account Suspension: TransferWise may temporarily suspend your account if you exceed the transfer limits.
• Additional Fees: You may be charged additional fees for exceeding the transfer limits.
• Delayed or Canceled Transfers: Your transfers may be delayed or canceled if you exceed the transfer limits.

How To Increase Transfer Limits

If you need to transfer an amount that exceeds the transfer limits, you can take the following steps to increase your limits:

• Verify Your Account to the Highest Level: Complete the full verification process to increase your transfer limits.
• Use a Payment Method with Higher Limits: Use a payment method that has higher transfer limits, such as a bank transfer.
• Contact TransferWise Support for Assistance: You can contact TransferWise support to request an increase in your transfer limits.

Understanding TransferWise's transfer limits is essential to avoid any inconvenience or disruption during your money transfer. By verifying your account, using a payment method with higher limits, and contacting TransferWise support if necessary, you can ensure that your transfers are processed smoothly and efficiently.