Wise initially configures standard pricing for each route in your integration. However, partners often need flexibility to offer tiered services, discounts, or special pricing. Flexible Partner Pricing allows you to customize or replace Wise’s standard fees.

Using the pricingConfiguration object, partners can set specific pricing parameters when creating or updating a quote. This lets you customize fee structures based on your business needs.

How it Works

1. Passing pricingConfiguration: When enabled for your client ID, include the pricingConfiguration in every POST or PATCH call to /v3/quote.
2. Mandatory Fields: Provide all values in the fee object, setting 0 for any fields where you want a zero charge.
3. Quote Calculations: The pricingConfiguration determines fees calculated on the quote, which appear in the response as configured fees.
4. Fee Limits: Wise will work with you to set up limits and alerts on fees you charge customers.

Wise will use the details included in the pricingConfiguration to configure pricing and run calculations for fees on the quote. The pricing configuration as well as the calculated fees will be returned in the quote body.

Wise configures controls on the fees that can be charged, and will work with you to set these limits and alerting.

Pricing consists of two types of fees: a variable percentage fee, applied to the amount being converted, and a fixed fee, which is added on top.

In order to change these values, partners will need to pass in a pricing configuration.

When Wise receives a pricing configuration, it uses the variable and fixed fee given to calculate the fees on the quote. This typically results in a partner convenience fee being applied, denoted as PARTNER in the response.

In some cases, the requested fees may calculate to less than the agreed fee Wise will charge. When this occurs, the difference is added as a Deferred Fee.

There are examples of this below to illustrate the various pricing configurations that can be sent, and how their calculations will be returned.

Flexible Partner Pricing calculates fees based on the Amount to Convert, the target amount before conversion.

For target amount quotes, calculating the amount to convert is straightforward. For quotes where a sourceAmount is provided, the process is slightly more complex.

For target amount quotes, we convert the target amount to the source currency with the rate of the quote, then use this to calculate fees, building up to the returned sourceAmount

For source amount quotes, we use an algorithm to determine the unrounded amount to convert and calculate the fees on top of that. Once the fees are calculated, they are subtracted from the sourceAmount to get the true amount to convert.

These calculations are difficult to do, so Wise completes these for you and returns everything you need in order to calculate fees yourself and ensure they are correct.

Calculating Target Amount Quote In this example, let's calculate fees of 0.5% and £1 fee on a GBP to EUR transfer. The partner has provided a target amount of €180, and the current exchange rate is 0.9000.

• Step 1 - Convert Target to Source Currency - €180 / 0.9000 = £200
• Step 2 - Add the variable fee - £200 * 0.5% = £1 = £201
• Step 3 - Add the fixed fee - £201 + £1 = £202
• SourceAmount is returned as £202

Calculating Source Amount Quote In this example, let's calculate fees of 0.5% and £1 fee on a GBP to EUR transfer. The partner has provided a source amount of £200, and the current exchange rate is 0.9000.

• Step 1 - Wise uses algorithm to determine the unrounded amount to convert - £198.00995
• Step 2 - Add the variable fee - £198.00995 * 0.5% = 0.99 + 198.00995 = 198.999999
• Step 3 - Add the fixed fee - £198.999999 + 1 = £199.999999
• Step 4 - Calculate actual amount to be sent - £200 - 0.99 - 1 = £198.01
• Step 5 - Convert Amount to Convert to Target Currency = £198.01 * 0.9000 = €178.21
• TargetAmount is returned as €178.21

Due to the complexity of the second calculation, the resulting quote will include the unroundedAmountToConvert along with all of the fees. This ensures you can calculate the fees easily without needing an algorithm.

In this example, the partner wants to add a custom convenience fee to the transfer, adding a 0.5% variable partner fee on top of the Wise 0.5% fee, with no additional fixed fee.

The partner will send this as an OVERRIDE type. In the OVERRIDE type, the variable and fixed values are used instead of the configured Wise amounts, then used to calculate fees. Therefore, the values in the pricing configuration are:

• Variable: 0.5% (Partner) + 0.5% (Wise) = 1.0% or 0.01
• Fixed: 0 (Partner) + 1 (Wise) = 1

In this example, the partner wants to display or charge zero fees to the customer. Here, the partner agrees to cover the Wise fee themselves.

The partner will send this as an OVERRIDE type. In the OVERRIDE type, the variable and fixed values are used instead of the configured Wise amounts, then used to calculate fees. Therefore, the values in the pricing configuration are:

• Variable: 0
• Fixed: 0

In the resulting quote, the Wise fee which was calculated is now included a deferred fee. This means the partner will need to pay this amount.

In this example, the partner wants to charge the customer exactly 0.9% for the transfer, covering both the Wise fee and the partner convenience fee within this amount.

The partner will send this as an OVERRIDE type pricing configuration.

Notice how in the resulting quote, the Wise fee which was calculated is present, as well as the partner convenience fee. This means the partner will not need to pay any fees to Wise.