Wise has launched its cross-border money transfer services in Chile, allowing users to send Chilean pesos to more than 160 countries.
By entering Chile, the UK-headquartered fintech is tapping into an outbound remittance market that reached US$2.27 billion in 2025.
Through the company’s app or website, users in the country can now transfer funds across more than 40 currencies.
To compete with traditional remittance providers, the platform uses the mid-market exchange rate and discloses all fees upfront. This approach aims to provide a more transparent pricing model.
Globally, people and businesses lose an estimated US$250 billion each year to hidden fees. These costs are often disguised through marked-up exchange rates.
Routing payments through its own localised infrastructure allows the firm to reduce reliance on traditional international intermediaries.
As a result, the company claims 75% of its cross-border transfers settle in under 20 seconds, while 96% complete within 24 hours.
The new service helps individuals send money abroad to support family, pay for international studies, fund travel, or receive freelance payments.
“While Chile’s financial sector has become increasingly digital, many consumers still face significant delays and a lack of clarity regarding the true cost of moving money globally,”
said Ricardo Amaral, Director of Banking and Expansion for Wise Latin America.
“Our goal is to make financial services more accessible, faster, cheaper, and completely transparent for everyone.”
Alongside the remittance service, the Wise Chile launch includes access to the company’s global digital wallet.
Customers can use the account to receive payments like a local in nine major currencies, including US dollars, euros, and British pounds. This allows them to avoid costly receiving fees.
Within the app, users can hold and convert multiple currencies using the real exchange rate. They can also use the account to manage international software subscriptions or overseas tuition fees.
Featured image credit: Edited by Fintech News America, based on image by pranavkr via Magnific
