Wise, formerly known as TransferWise, is a popular international money transfer service that allows users to send and receive money across borders with low fees. If you have received funds in your Wise account and need to access them, understanding the Wise withdrawal process is essential. This guide will walk you through how to withdraw money from Wise, the available withdrawal methods, processing times, fees, and troubleshooting tips.
Withdrawal Methods
Wise offers several ways to withdraw your money, depending on your location and account type. The most common methods include:
- Bank Transfer – You can transfer money from Wise to your linked bank account in local currency.
- Debit Card Withdrawal – Some users may be able to withdraw funds to their debit card.
- ATM Withdrawals – If you have a Wise debit card, you can withdraw money directly from ATMs worldwide.
- Other Payment Methods – Depending on your country, additional withdrawal options may be available.
Guide to Withdraw Money from Wise
Withdrawing money from Wise is a simple process. Follow these steps:
- Log in to Your Wise Account – Open the Wise app or website and sign in.
- Select the Currency Balance – Choose the balance from which you want to withdraw money.
- Click on Withdraw – Select the withdrawal option.
- Choose the Withdrawal Method – Pick your preferred method, such as a bank transfer or debit card withdrawal.
- Enter Recipient Details – If you are transferring money to a new bank account, enter the necessary details.
- Confirm the Transaction – Review the withdrawal amount, fees, and estimated processing time before confirming.
- Wait for the Transfer to Process – Depending on the method, the transfer may take from a few minutes to several business days.
Processing Time and Fees
Understanding Wise withdrawal fees and processing times can help you plan better:
- Bank Transfers – Typically take 1-2 business days but may vary by country.
- Debit Card Withdrawals – Instant in most cases, but fees may apply.
- ATM Withdrawals – Immediate, but Wise has a limit on free ATM withdrawals per month.
- Currency Exchange Fees – If withdrawing in a different currency, a small conversion fee applies.
- Additional Charges – Some banks may impose additional fees on incoming transfers.
Common Issues and Troubleshooting
If your Wise withdrawal process is taking longer than expected, consider these common issues:
- Incorrect Bank Details – Ensure that recipient details are accurate.
- Bank Processing Delays – Some banks take longer to process incoming transfers.
- Wise Verification Requests – If Wise requires additional verification, withdrawals may be delayed.
- Daily or Monthly Limits – Check if you have exceeded Wise’s withdrawal limits.
- Contact Wise Support – If you experience issues, reach out to Wise customer support for assistance.
Conclusion
Withdrawing money from Wise is a straightforward process that allows you to transfer funds securely to your bank account, debit card, or ATM. Understanding Wise withdrawal fees and processing times can help you optimize your transactions and avoid unexpected delays. Always double-check your withdrawal details and ensure your account is verified for smooth transactions.
