Wise account

[Gary Rees]

Hi,

I have been using Wise as a money transfer now for about three years, just wondering if any of you use Wise for your UK pensions, ie will the UK pension office pay into a Wise account and if so how successful has it been.

It’ll be interesting to hear your experiences.

Thanks

Gary

[Paul Moore]

we get our UK pensions paid directly into our Au account in Aus$.

You get the best exchange rate by far with the UK pensions office as they bulk buy Aus$ on the internal market

and pass that exchange rate into you.  

fegds

P Moore

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[Steve Symmons]

Me too

For the same reason 

I opened an offshore sterling account for my pension, but couldn’t come close to the rates that DWP get (you can almost calculate your payment amount by using the midrate).

I doubt many Uk pensioners complain about the method of currency transfer - it’s the lack of indexation that provokes ire.

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[mary barber]

Hi, The pension office pay mine into XE & they let me know when it is there & I ring them up & they transfere it to my OZ bank.I don't hold an account. Get good rates 

Cheers Andra

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From: 'Gary Rees' via BAPA <bapa...@googlegroups.com>
Sent: Friday, 17 April 2026 9:31 AM
To: bapa...@googlegroups.com <bapa...@googlegroups.com>
Cc: Gary Rees <gary...@icloud.com>
Subject: [bapanews] Wise account

 

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[John Ferris]

Yes. Agree. DWP rate is about as good as it gets. You can transfer to Wise in AU$ if you want. Or just your normal OZ account. 

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[Neil Hillman]

I calculated that last month I was about $40 worse off having my pension paid into my AU bank account instead of transferring it from the UK via Wise.

Regards to all.

Neil.

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[Marianne]

That’s great to know as I really want to keep our UK account as long as possible 🙏

Marianne


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