RetireJapan

Simple question probably: I have finally just applied for a Wise Card and just checking how it works. So basically do I just load up my Wise account and then I can use the card to pay for stuff abroad and as long as there are funds in my wise account it comes out of there (so debit card, really)? Also can you use it at ATMS to pull out money abroad as long as you have funds in your online account. Is the exchange rate usually quite fair?

You can move the money to the foreign currency in question within your Wise account before withdrawing, so you get the normal Wise rates (pretty good).

RetireJapan wrote: ↑Tue Nov 26, 2024 5:24 am You can move the money to the foreign currency in question within your Wise account before withdrawing, so you get the normal Wise rates (pretty good).

Thanks. so if I go to UK I can load up on pounds in my online wise account and then just use from there? If I have yen and pound and use my card, will the card automatically pull from the sterling account if buying in UK? Sorry, I'm a bit clueless - have only used Wise for transferring money so far!

goodandbadjapan wrote: ↑Tue Nov 26, 2024 5:39 am

RetireJapan wrote: ↑Tue Nov 26, 2024 5:24 am You can move the money to the foreign currency in question within your Wise account before withdrawing, so you get the normal Wise rates (pretty good).

Thanks. so if I go to UK I can load up on pounds in my online wise account and then just use from there? If I have yen and pound and use my card, will the card automatically pull from the sterling account if buying in UK? Sorry, I'm a bit clueless - have only used Wise for transferring money so far!

Basically! You can do it in real time on the app too (change currencies just before using the card)

goodandbadjapan wrote: ↑Tue Nov 26, 2024 5:39 am

RetireJapan wrote: ↑Tue Nov 26, 2024 5:24 am You can move the money to the foreign currency in question within your Wise account before withdrawing, so you get the normal Wise rates (pretty good).

Thanks. so if I go to UK I can load up on pounds in my online wise account and then just use from there? If I have yen and pound and use my card, will the card automatically pull from the sterling account if buying in UK? Sorry, I'm a bit clueless - have only used Wise for transferring money so far!

https://wise.com/help/articles/2970190/ ... -wise-card
section 4.
"
If you spend money in a currency you already have in your balances, we’ll deduct the amount for free.
If you don’t have the currency in your account, we’ll automatically convert the amount for you. We’ll take it from whichever available balance has the cheapest conversion fee. So there’s no need to worry about converting money before travelling.
"

Yes, it's a debit card. Yes, you can use it in ATMs. You don't have to convert beforehand, but you can.

I think the first time you use it you need to use the chip and pin, after that contactless works fine. If it fails, it usually tells you why in the app.

Thanks all!

I thought about getting one, but then after further reading decided to hold off. The Wise ATM cards have fairly low limitations on amounts and frequency.

Once exceeded their additional charges are steep.

Make 2 withdrawals of up to and including 200 GBP each month for free per account. After that, we’ll charge 0.5 GBP per withdrawal. There’s a 1.75% fee on any amount you withdraw above 200 GBP.

That said, as a debit card I think it still makes sense.

TJKansai wrote: ↑Wed Nov 27, 2024 12:01 am after further reading decided to hold off

What do you pay without using the wise card?

adamu wrote: ↑Wed Nov 27, 2024 4:49 am

TJKansai wrote: ↑Wed Nov 27, 2024 12:01 am after further reading decided to hold off

What do you pay without using the wise card?

I normally use USD credit cards with no foreign exchange fees. I also have a US bank account that reimburses ATM fees, but charges 1% FX fee.

This year I have been using Wise (via the web) to pay various expenses in EUR lately. Very quick and reasonable.