š” Wise is usually the cheapest way to send money internationally from HCB. It's for international transfers only, not for sending US dollars to a US account. Fees typically run 3 to 5% of the amount, and there's no $500 minimum like wires have.
When to use Wise
Wise is a good default for international payments and reimbursements, because it skips the wire minimum and often costs less. HCB sends at Wise's business rates.
Wise is for international transfers only. You can't use it to send US dollars to a US bank account, so for US payments, use an ACH transfer instead.
How to send one
On your organization's dashboard, open the Transfers tab.
Click Send and choose Wise.
Enter the recipient's details and the amount.
Why are there fees?
Wise charges a fee to cover the cost of currency conversion and moving money across borders. You'll see an estimate, including fees, as you enter the amount.
How do I know the final amount in USD?
Because exchange rates move with the market, HCB can't tell you the exact amount at the moment you send. As you enter an amount, you'll get an estimate that includes fees, and the final figure settles at the live rate when the transfer goes through.
My currency isn't on the list
If you don't see a currency, it means Wise doesn't support it for your transfer. HCB can't enable new currencies; the list you see is the full extent of what's supported. If your currency isn't there, use an international wire instead.
Can I send money before I have a receipt?
No. You can't "front" funds through Wise. As with any transfer, you need a valid receipt or invoice before HCB will send a Wise transfer.