The Wise Card is a revolutionary feature that I think all travellers & Digital Nomads need so you can spend money like a local, wherever you go!
- Stop getting ripped off by your bank every time you swipe your card abroad.
- Know exactly how much you’re paying each time you swipe your Wise card to buy something abroad.
- Know exactly how much you’re paying for currency exchanges without sneaky charges or fees.
- Withdraw foreign currency at the local ATM with minimal fees.
If you travel a lot or are a Digital Nomad, getting a Wise Card is a no-brainer.
If you want to save money with international money transfers with transparent & fair pricing, check out how to transfer money abroad using Wise.
What is Wise?
Let’s start with the Wise multicurrency account.
Once you register a Wise account, you can send & receive money in different currencies with transparent & competitive pricing.
You can think of it as an online money exchanger.
Here’s an example of a money transfer that I did where I sent MYR from SGD:
I particularly liked that:
- The exchange rate was very close to what Google showed me.
- Very transparent fees (SGD 21.72).
- I know exactly how much I will receive in MYR.
- I got the money within a few minutes.
Now let’s see how the Wise Card comes into the picture:
What is the Wise Card?
The Wise card is a cool-looking debit Visa card that is linked to your multicurrency Wise account.
It is an additional feature that you can request via the app (more on this later) & the card will be delivered to your home.
The Wise Card can help you save money every time you travel & spend abroad. Let’s see how:
How Does the Wise Card Work?
Here’s the breakdown:
- Buy currency that you want to spend in your Wise multicurrency account.
- Use the Wise Card to purchase items in the currency of your choice.
- Money will automatically be deducted from the relevant multicurrency account.
In the example below, I want to pay a USD 9.20 online subscription.
Since the Wise Card is a debit card, I need to have some USD in my multicurrency account.
I bought USD 10 using Malaysian Ringgit (MYR) & below are the fees during that time:
I then proceed to pay for the subscription using my Wise Card.
The Wise card will automatically deduct USD from my USD account.
- If you travel to Indonesia & use your Wise card there, it will deduct money from your IDR account.
- If you travel to Singapore & use your Wise card there, it will deduct money from your SGD account.
- If you travel to Europe & use your Wise card there, it will deduct money from your EUR account.
The Wise Card Fees
|Ordering & replacing your Wise Card
|Currency exchange rate
|Varies depending on the currency & date.
|Free for 2 withdrawals in a month not exceeding RM 1,000.
After which, you will be charged RM 5 + 1.75%
How the Wise Card Saved me Money in Bali, Indonesia
As documented in my @millennialdadmy TikTok channel, I’ve recently gone on a family vacation in Bali, Indonesia where I get to use the Wise Card almost exclusively throughout our vacation.
@millennial_dadmy Saya pergi Bali, Indonesia & belanja semua benda pakai Wise Card. Dapat jimat banyak gila duit. Dari kluakan cash dekat ATM & juga tap kredit card dekat restaurant. Semua saya pakai Wise. Link utk apply ada di bio. #wisecard #wise #travelwithbaby #balibaby ♬ Paper Birds – Jordan Halpern Schwartz
The first thing I did when I arrived at the Bali airport & cleared immigration & luggage collection was to withdraw some local IDR money to be kept for petty cash emergencies.
Then every time we spent money at restaurants or buying stuff from shops, I was charged exactly what is shown on the bill:
The statement is shown immediately on the app & the amount tallies with the receipt, so I know there are no weird, hidden fees:
The cool thing is that the Wise app can automatically categorize my spending.
This was helpful as I can keep track of our vacation spending.
Pros & Cons of Using the Wise Card
|Fair transparent pricing
|I really like the user-friendly app
|Somehow, it is confusing for some beginners
|There is a ‘jar’ function that is akin to a savings account with no interest. You can’t spend money if it is in your jar function.
The pros outweigh the cons. However, I went to Bali with another couple & they also had a Wise card.
Somehow, they did not 100% get how the Wise Card works & which requires me to explain it to them to get them up & running with the card & app.
If I weren’t there to explain it to them, I’d reckon they’d stop using their Wise Card.
How to Get your Wise Card
I hope this article has convinced you how important it is to have a Wise multicurrency account together with the Wise Card.
So, if you wanted one too, here’s the step-by-step of what you need to do:
- Register a Wise account here.
- Log into your Wise account online or via the app & apply for your Wise Card.
- Wait for the Wise card to be delivered.
- Once you have your Wise Card, follow the instructions to activate the card.
- You can start using your Wise card!