• https://www.quora.com/unanswered/Why-did-Wise-Interest-GBP-fees-went-up-massively-from-0-19-to-0-46-in-November-21-2023
• https://www.reddit.com/r/transferwiser/comments/180pilt/why_did_wise_interest_gbp_fees_just_go_up/

Just got an email, and I would like to know if anyone has any theories on the reason why they decided to more than double it right now:

From 5 December 2023, we'll be changing our service fee:

• GBP Interest is increasing from 0.19% to 0.46%
• EUR Interest is decreasing from 0.19% to 0.17%

The email then just gives some generic "our costs went up" explanation that doesn't really explain anything:

Why’s this happening?

We’re constantly reviewing our fees to make sure we’re offering you the fairest deal possible. So when our costs go down, our fees do too.

But the reverse is also true. And because the cost of providing some of our services have increased, so have our fees.

We know it’s not the best news, but we’re working on ways to bring them back down in the future.

This comes just a few days after they reported massive profits due to the recent high interest rates, e.g.: https://www.cnbc.com/2023/11/14/british-fintech-wise-reports-234percent-jump-in-profit.html