Wise has launched its international money transfer service in Chile, allowing customers to send Chilean pesos to more than 40 currencies across 160 countries.
The UK-based fintech's expansion means Chilean residents and businesses can now move money abroad entirely through the Wise app or website, without visiting a branch or relying on traditional banking intermediaries. The service covers common use cases such as remittances to family members overseas, payment of international tuition fees, and financing for travel.
Pricing and exchange rate structure
Wise has said it applies the interbank exchange rate to all transfers sent from Chile, meaning customers receive the same rate quoted on public reference sources rather than a marked-up rate set by the provider. According to the company, fees are itemised and displayed before a transfer is confirmed, so customers can see the exchange rate applied and the amount the recipient will receive in advance. Wise has positioned this approach against providers that advertise low or zero commission but generate revenue through less favourable exchange rates. The company cites third-party estimates that individuals and businesses lose USD 250 billion annually worldwide to fees hidden within exchange rate margins.
Wise has said the service relies on its own payment infrastructure and local licensing arrangements in Chile, rather than routing transfers through correspondent banking networks. The company states that 75% of transfers processed globally through its network settle in under 20 seconds, and 96% settle within 24 hours.
Market context in Chile
Demand for cross-border payment services in Chile has increased in recent years alongside growth in remote work, international education, and travel. Central Bank of Chile data cited by Wise shows that outbound remittances from Chile reached USD 2.27 billion in 2025, with the first quarter of 2026 already 9.4% higher in volume than the same period a year earlier. Wise has said that despite Chile's broader digital adoption, established remittance providers in the market have continued to be associated with longer settlement times and limited visibility into total transfer costs.
Commenting on the launch, Ricardo Amaral, director of banking and expansion at Wise for Latin America, said the Chilean financial ecosystem has become more digital, but many consumers still encounter delays and unclear pricing when moving money internationally, adding that the company aims to make cross-border financial services more accessible and transparent.
Alongside transfers, Chilean customers gain access to the Wise account, which provides local account details in nine currencies, including USD, EUR, and GBP, allowing users to receive international payments without incurring separate receiving fees. The account also allows holding and converting balances across currencies at the interbank rate.
The Chile launch follows earlier Wise rollouts in Brazil and Mexico, extending the company's presence in Latin America. Wise reports 19 million active customers globally.
