Wise Interest

[CrashWire]

https://wise.com/sg/interest/

Funds invested into LionGlobal SGD Money Market Fund SGD Class A.

It was 4.07% on 8 December 2023:

Wise says their fee is still not charged in beta:

https://wise.com/help/articles/10HD8UtqMLH89OPpjdVuu2/what-fees-do-i-pay-when-i-use-wise-interest

Biggest benefit compared to the other money market funds is 24/7 instant liqudity.

 

[s0crates]

The fees doesnt quite make sense though.

https://forums.hardwarezone.com.sg/threads/wise-interest.6989822/
https://lgi.dzhintl.com/doc/uploads/documents/index.php?type=FS&fid=LGSMMF&lang=EN


Wise claims that the fund fees are 0.25% while wise fees are 0.25%.
Endowus claims fund fees are 0.30%?

Might be a TER thing. Wouldnt be strange if Wise doesnt add in other fund related fees.

 

[CrashWire]

The fees doesnt quite make sense though.

https://forums.hardwarezone.com.sg/threads/wise-interest.6989822/
https://lgi.dzhintl.com/doc/uploads/documents/index.php?type=FS&fid=LGSMMF&lang=EN


Wise claims that the fund fees are 0.25% while wise fees are 0.25%.
Endowus claims fund fees are 0.30%?

Might be a TER thing. Wouldnt be strange if Wise doesnt add in other fund related fees.

There's 0.25% fee charged by LionGlobal and 0.25% (currently not) charged by Wise.

Endowus charges 0.05% for Fund Smart:

https://help.endowus.com/hc/en-sg/articles/900002862583-What-are-the-Fees-for-Endowus-Fund-Smart-SG-

Endowus apparently gives 0.13% trailer fee rebate though? But for short term storage, I'd rather put in Tiger/Moomoo/Webull (and now Wise) since their withdrawal process is much faster.

 

[s0crates]

There's 0.25% fee charged by LionGlobal and 0.25% (currently not) charged by Wise.

Endowus charges 0.05% for Fund Smart:

https://help.endowus.com/hc/en-sg/articles/900002862583-What-are-the-Fees-for-Endowus-Fund-Smart-SG-

Endowus apparently gives 0.13% trailer fee rebate though? But for short term storage, I'd rather put in Tiger/Moomoo/Webull (and now Wise) since their withdrawal process is much faster.

My endowus withdrawal takes one business days.

Key in the redemption order before 9am, next day evening get it already. I think still fast enough for a 0.33%p.a. less fees compared to wise eventually.

 

[CrashWire]

My endowus withdrawal takes one business days.

Key in the redemption order before 9am, next day evening get it already. I think still fast enough for a 0.33%p.a. less fees compared to wise eventually.

That's all the way back to your bank account?

My experience with Endowus all this while is that money takes a while just to deposit into the cash account, much less get invested towards the goal, and vice versa (and this is me performing all my transactions at the start of the day before cutoff time).

Anyway, will have another look around once Wise starts charging fees.

 

[s0crates]

That's all the way back to your bank account?

My experience with Endowus all this while is that money takes a while just to deposit into the cash account, much less get invested towards the goal, and vice versa (and this is me performing all my transactions at the start of the day before cutoff time).

Anyway, will have another look around once Wise starts charging fees.

Yea it takes 1 biz days, or more specifically 36 hours (morning sell order, money hit bank account next day) for my fullerton cash fund.

Might be different for other fund managers.

 

[CrashWire]

The fees for using Interest and Stocks in Singapore are changing on 2 September.

The beta phase for Wise Interest and Stocks in Singapore is now over. This means it’s ready for a wider launch, and that it’ll be subject to our annual fees. So from 2 September 2024, the fees will be:

• SGD Interest: 0.43%
• USD Interest: 0.25%
• USD Stocks: 0.24%

These fees will automatically be charged from your Wise account. They include a 9% Goods and Service Tax which we charge in line with local regulations.

We’re dedicated to accurately pricing our product based on the real cost, so you’ll only ever be paying for what you actually use.

Thanks,
The Wise team

 

[sohguanh]

The fees for using Interest and Stocks in Singapore are changing on 2 September.

The beta phase for Wise Interest and Stocks in Singapore is now over. This means it’s ready for a wider launch, and that it’ll be subject to our annual fees. So from 2 September 2024, the fees will be:

• SGD Interest: 0.43%
• USD Interest: 0.25%
• USD Stocks: 0.24%

These fees will automatically be charged from your Wise account. They include a 9% Goods and Service Tax which we charge in line with local regulations.

We’re dedicated to accurately pricing our product based on the real cost, so you’ll only ever be paying for what you actually use.

Thanks,
The Wise team

Actually wise dunno how to play user psychology. You upfront deduct ppl monies ppl see liao buay song. You should instead work with that fund managers behind the scene to take your cut. So to users happy never see monies disappear as fees when it is actually taken behind the scenes. Just show a lower NAV users also won't know. Human psychology is important in doing business.

 

[demoforce1]

Actually wise dunno how to play user psychology. You upfront deduct ppl monies ppl see liao buay song. You should instead work with that fund managers behind the scene to take your cut. So to users happy never see monies disappear as fees when it is actually taken behind the scenes. Just show a lower NAV users also won't know. Human psychology is important in doing business.

endowsus also the same every quarter

 

[sohguanh]

endowsus also the same every quarter

They got trailer fee rebate so in a way use that to offset the fee. Just choose funds with trailer fee rebate.

 

[tytyty333]

Does anyone know how much I can transfer out from wise interest to my bank account instantly?

 

[tytyty333]

I transferred in via paynow, but money was lost... My bank confirmed the paynow transaction was successful, but wise said it didn't receive the money.

 

[reddevil0728]

I transferred in via paynow, but money was lost... My bank confirmed the paynow transaction was successful, but wise said it didn't receive the money.

got ask ur bank for the transaction reference n pass it to wise?

 

[tytyty333]

did that...

wise said need several working days to investigate it...

got ask ur bank for the transaction reference n pass it to wise?

 

[reddevil0728]

did that...

wise said need several working days to investigate it...

then is just a case of money unaccounted for. not exactly lost yet

 

[lordfa9]

has anyone looked at or used wise interest for USD?

I was tempted to try but the clause that capital isnt guaranteed scared me off

 

[CrashWire]

has anyone looked at or used wise interest for USD?

I was tempted to try but the clause that capital isnt guaranteed scared me off

Have used it for quite a while.

Still quite competitive with other US interest rates.

 

[lordfa9]

Have used it for quite a while.

Still quite competitive with other US interest rates.

Did you experience any losses?

 

[CrashWire]

Did you experience any losses?

I not so free to check every day. You can search for the fund returns yourself.