Wise Debit Visa Card, Best Card To Bring For Travel?
Most common believe is that you should bring a credit card with zero foreign transaction fees when you travel overseas, while this is true there is another card that you should consider about having it in your possession especially when in overseas and that is Wise Debit Visa Card! We highly recommend you to have this card and bring it when you travel along with your credit card.
What is Wise?
Wise is an international transfer money service that used to be known as TransferWise, where you can have multiple currency account that lets you send, receive or making payment in 40+ currencies and over 150 countries. It also let you hold currencies that are not your home currency such as Japanese Yen, Korean Won, Philippine Peso, Euro, British Pound and many others. In a sense, it is like having an account to a local bank at your travel destination assuming it is part of the countries and currencies supported by Wise.
While it is possible to have an account without the debit card and uses only virtual card, we highly recommend that you order the physical card. As of this writing, you can order the physical card only if you live in one of the countries below (the list is only for personal and not business):
Australia
Brazil
Canada
EEA + Switzerland*
Japan
Malaysia
New Zealand
Philippines
Singapore
UK + European microstates and overseas territories*
USA except for residents of Nevada (US cards temporarily unavailable)
You can check more details here
You maybe charged a small fee to get the card to be shipped to you but it is worth every penny.
You can use our referral link or click on the picture below to open an account and get a free transfer up to $600
*We will receive a commission after you completed certain activities, however you do not have to do so.
What are the advantages of using Wise?
The most important advantage you have with Wise is the foreign exchange rate and conversion fees
*Conversion rate shown so you know exactly how much you will get and how much fees you’re paying for the conversion
*Comparing it with Google conversion rate
Above pictures showing comparison between Wise and Google, now you may think that it’s a little less than what Google is showing however in reality at the same time you will never be able to get the rate Google is showing you whether through your bank, local credit union or foreign exchange. Even credit cards with zero foreign transaction fees often do not give you this rate you’re getting with Wise and you will not know the rate until you receive the bill on your next monthly statement which bring us to below.
You might think that it’s a small amount so why bother? Think of it this way, while it maybe a small amount but multiply that by how many transactions that you are doing plus the dollar amount. Those small amounts does stack up and can make a big difference after some time.
Second is the time to get your foreign currency is pretty much within seconds, everything is shown to you upfront along with the fees and how much you will be getting. You don’t have to go and place an order at your bank then wait for the foreign bills to arrive if they don’t have it available on the spot. Funding your Wise account most of the time will be very quick, on some occasion it may take some time but from our experiences majority are done within seconds
Thirdly if you have families overseas and wants to send them money for whatever needs, Wise works amazingly.
*Transfer rate that shows fees and estimate times before it arrives on the destination account.
We’ve sent money to our family overseas, we also sent payment for purchases on different countries and the longest time the money hit the destination bank account was a little over 30 minutes. Most of the repeat transfers are received in seconds to minutes which is amazing, everything is shown upfront so you know exactly how much it will cost you. This is very handy especially if there is an urgent financial need for your family such as medical or others.
Last but not least depending on where you are, you have the option to earn interest on the funds that you have in Wise account.
This is optional, the interest rate varies and can be adjusted at any given time by Wise. Interest is calculated daily and paid out once a month.
How does Wise Debit Visa Card Works?
It works just like any debit card with one major difference, that is you can spend in 40+ countries that are supported by Wise like a local.
You can also use the card at the ATM and withdraw local currency. I’ve tested this and it works amazingly, the rate is also very good. So if you carry cash and convert it to local currency for example at the airport or at your local bank before you travel and ran out of it, this will be a useful benefit to have by just withdrawing what you need instead of having to find a foreign exchange that may not have the best rate.
Also keep in mind that Wise (at least in the US) only have 4 digit pin while some countries like Indonesia the ATM uses 6 digit pin, if this is the case what you have to do it enter your 4 digit pin followed by 00. In Malaysia you will have to enter 00 first followed by your 4 digit pin, you can find out more information through their help articles here
This is an excellent benefit that you cannot get with credit card since withdrawing using credit card will be considered as Cash Advance that will accrue interests instantly. This is why Wise Debit Visa Card is a good companion to have when traveling.
If you decide to open one and get the physical card, please ensure you have enough time before you travel since it takes time for your physical card to arrive (you can also opt for an expedited shipment but this will cost you additional fees around USD $12)
Tips
Always try to use the digital card when you order online and linked it to your Google Wallet or Apple Pay, whenever possible use it when purchasing in person. This will add an extra layer of security to your card
Only keep what you need as your balance, remember that adding funds to your account are often within seconds so you can always add more when you need it.
Download the mobile app for convenience and extra security. If you lose your card, you can disable it via the app and Wise can ship a replacement card world wide. Please make sure whether or not it make sense to get it replaced while you are abroad, if you’re about to leave the next day then it’s better to wait until you return home.
Utilize the Freeze card feature and unfreeze it when you need to use it. This may not be convenient but it does provide extra security
Always select to pay in local currency of your travel destination otherwise you will trigger Dynamic Conversion Currency with a rate that is decided by their bank which pretty much guarantees that you lose on the rate and defeat the purpose of using Wise
Feel free to click the picture below to open up Wise account which helps us as well
If you have this card let us know what you think below and if you have any question feel free to ask as well, we’ll try to answer the best we can.
Safe travels and enjoy!