The Wise Card: A Debit Card with No Hidden Fees and Better Currency Conversion Rates

The Wise card is a debit card that allows users to spend in different currencies without incurring extra fees when converting money. This makes it an ideal option for individuals who frequently make international transactions, travel, or conduct business abroad.

One of the key features of the Wise card is its transparent fee structure. Unlike traditional bank debit cards, which often come with hidden fees and unfavorable exchange rates, the Wise card offers a straightforward fee model. The normal fee above the free limit is around 1.75 percent plus a 50 p withdrawal fee or your local currency equivalent for those additional available withdrawals during that specific month. However, this fee can vary depending on the country where your card is issued.

Another significant advantage of the Wise card is its guaranteed exchange rate. Unlike traditional debit cards, which often use dynamic currency conversion and charge higher fees, the Wise card offers a guaranteed exchange rate that ensures users get the best possible rate when converting currencies. The exchange rates are guaranteed anywhere from two to up to 72 hours, depending on the currency being sent.

One of the unique features of the Wise app is its ability to notify users when the exchange rate hits a specific level. This allows individuals who make larger transactions, such as expats or digital nomads, to take advantage of better exchange rates and save money on their transactions. The app also uses the mid-market exchange rate, which ensures that users get the best possible rate for their transactions.

For users who hold large amounts of euro in their account, there is an additional fee of 0.4 percent. This fee essentially means that it costs money to hold euro in your account, and Wise has a policy of limiting personal accounts to 15,000 euros for free. Business customers, on the other hand, can hold up to 70,000 euros for free.

Whether or Not the Wise Card is Right for You

Ultimately, whether or not the Wise card is right for you depends on your individual needs and financial situation. However, based on its features and benefits, it appears to be an excellent option for individuals who frequently make international transactions, travel, or conduct business abroad.

One of the key benefits of the Wise card is its ability to provide better currency conversion rates and avoid hidden fees charged by traditional bank debit cards. The app also offers complete control over your finances, allowing users to track their spending, transfer money directly, pay bills, and make ATM withdrawals.

For individuals who tend to make a lot of ATM withdrawals, the Wise card is an excellent option. It provides two free ATM withdrawals per month, with a limit of 200 pounds per month or your local currency equivalent. This means that users can withdraw cash without incurring additional fees or charges.

In conclusion, the Wise card is a debit card that offers a range of benefits and features that make it an attractive option for individuals who frequently make international transactions, travel, or conduct business abroad. Its transparent fee structure, guaranteed exchange rate, and ability to notify users when exchange rates hit a specific level make it an excellent choice for those looking to save money on their transactions. Whether you're an expat, digital nomad, or just someone who travels frequently, the Wise card is definitely worth considering.

"WEBVTTKind: captionsLanguage: ensimply using your traditional debit card for international purchases is normally quite easy in most countries the problem is is that it can get expensive and in some cases even really expensive with all the different hidden fees and the conversion rate that is added on top of each individual transaction that you make luckily nowadays are a bunch of different providers in terms of debit cards specifically made for international payments which makes it easier to spend abroad with less fees and in some cases even no fees at all this is where the wise debit mastercard comes into the picture now the wise card can be used across the whole mastercard network and also enables multi-currency access either online or while traveling on top of this apart from only being able to pay for things at different currencies at a low cost you can also hold many different currencies directly within the app itself and also convert them at any time through the app so you can easily access convert any currency to another dependent on what country you're in depending on what currency you're planning to spend in just so you can lower your fees directly this is basically like having multiple different bank accounts in each of these individual countries making it seamless to convert different currencies at a low cost as well but despite the benefits the wise card is definitely not for everyone some people simply can't get it while others may not actually need the card itself so in today's video we're taking a look at the wise card and i'll break down the benefits of the card itself so you can determine whether or not you should be getting the wise debit card and before we get into it make sure that you hit the like button down below so other people can also find this video right here now what is the wise card the voice card is linked to your multi-currency account within wise which works similar to a traditional bank account minus the high fees that you usually pay for when you have a traditional bank account and is traveling or just spending in a different currency this means that you could use your wise accounts to receive your salary your pension your tax benefits you can hold up to 55 different currencies and spend like a local when you're relocating or just traveling abroad you can pay for your utility bills or mortgage without the currency conversion fee you can get paid like a local with international bank details in 10 different currencies you can also spend online without the foreign exchange fees that you normally pay if you're spending in a different currency while shopping online and the wise debit card is currently available to people in the uk us europe canada australia new zealand singapore as well as japan but looking at some other benefits with the wise card itself it does come with the benefits of low conversion fees and no transaction fees for multiple currencies you can issue up to three virtual cars for temporary usage perfect if you're signing up for a sketchy subscription that you don't want to pay for in the long term you just want to sign up for the free trial you also get two free adm withdrawals a month you can automatically convert your currencies at a mid market rate you can use your card anywhere where mastercard or visa cards are accepted which is basically everywhere throughout the world you can use in-store contactless payments with the card itself and if you're running a business you can also open a business account so you can issue employee debit cards with custom limits assigned to each individual card now overall these benefits are definitely great if you're an expat maybe you're a frequent traveler or if you're running a startup and just getting started with your business all of these benefits are perfect for you however looking beyond the benefits of the card it does have some downsides as you currently can't make any cash deposits with the card and you can't use any credit on the card itself as well now jumping over to the design of the wise card you probably know by now if you watch my previous debit card reviews that i do care about the design of the cards itself and i think that the design actually matters as it reflects the brand itself even though it doesn't technically add any functionality to the card and it doesn't make the card better but it definitely is something to take into account luckily the voice card does come in a modern looking design with bright green colors it also got the details such as number name and expiry date on the back of the card itself which is great not only from a design perspective but also for an extra bit of security overall i do like the car design i think it looks great and it really does reflect the purpose of the card it is a free car to use it is a traveler's card doesn't try to look more than what it is it doesn't try to look premium which i just think it reflects the brand pretty well so i do like the car design i like the bright color and it's definitely easy to spot so if you end up losing it on the beach for example you can easily spot it in the sun as this will definitely stand out now jumping over to the cost and fees of opening a wise account it is actually completely free to open the account now the mid market exchange rate is always used when the currency conversion occurs on the card and also applies transfer fees for each individual transfer transaction outside of vice on top of this the country that you're currently in the currency that you're converting to or sending as well as the person's intended currency can also determine how much the fees will be for each individual transaction that you make the great thing is is that wise is very transparent in terms of the fees that will be applied on each individual transaction so even though you're making a transaction you're unsure how much the fees will be you can easily spot it within the app itself and on the website in order to understand how much you're actually paying in terms of fees and how much of the money will actually be transferred to the person you're sending the money to and if you're using your vice debit card to make transactions you're actually not gonna pay no fees at all so there's not gonna be any fees at all on your card the only exception is is if you're paying in a currency which you currently don't hold within your account so let's say you're spending in usd but you only have euro in your account then you'll pay an extra bit of fees on top of that transaction but normally if you're in the us or if you're traveling somewhere what i recommend you to do is just make sure that you already have some of that local currency converted so you can easily spend it when you're in that specific country and the fees they will pay if you don't make these conversions manually is between 0.24 and 3.69 if you don't have enough of the currency that you're trying to use in that specific transaction and if you're looking to make 80 withdrawals you can actually make up to two atm withdrawals for free a month and this is going to be up to 200 pounds a month or your local currency equivalent so make sure you do convert that or just read in a wise website if you want more details now if you do make an extra withdrawal on top of that month an extra fee will be added to your account the fee itself will vary according to the country where your card is issued but the normal fee above the free limit is usually around 1.75 percent plus a 50 p withdrawal fee or your local currency equivalent for those additional available withdrawals during that specific month now wise also does offer a guaranteed exchange rate this is the best way for you to actually ensure that you're getting the best possible exchange rate when you make your conversion to different currencies and the exchange rates are guaranteed anywhere from two to up to 72 hours at the most and the currency that you're sending is actually what's gonna guarantee the length of the time of that currency exchange on top of this another cool feature is that you can opt in to get notified when the exchange rate hits a specific level so if you're looking to make a bigger transaction perhaps you're an expat living in a specific country you're looking to make a larger transaction back to your home country then obviously you want to make sure that you have the best possible exchange rate so what you can do in the app itself is actually make sure that they send you a reminder or notification when the exchange rate is actually the best for you and that way you can actually save quite a lot of money on those bigger transactions as you probably can tell by now advice is very transparent when it comes to the fees that they apply to transactions on top of this they always use the mid market exchange rate no matter how big or large transaction that you make on your account and people who tend to send a lot of money regularly can also qualify for the volume discount which means that you get to pay less fees if you're sending more money now having large amounts of euro in your account does come with some additional fees which is 0.4 percent which essentially means that it costs money for wise to hold your euro in your account which is why they have to charge this additional fee if you're holding large amounts of euro that is why they only allow personal accounts to hold a maximum of 15 000 euro in their accounts for free and business customers can hold up to 70 000 euro in their wise accounts for free of charge but keep in mind that it's still free to hold other currencies within your account and there's no other limits it's only for the euro in this case now is the wise card right for you as i always say it will depend on your personal needs and your personal situation but i will do my best to break it down whether or not this will be the card you should be getting after watching today's video now i would say that the wise card is definitely going to be a great fit for anyone looking for a debit card that allows you to spend in different currencies to avoid those extra fees when you have to convert money a lot on your debit card it's also going to be a great fit if you're looking to get better currency conversion rates and avoid hidden fees charged by traditional bank debit card which use dynamic currency conversion instead if you're also looking for complete control over your finances while traveling this is going to be perfect as you can do all of this directly within the wise app which also lets you track your spending transfer money directly and also pay your bills and if you tend to make a lot of atm withdrawals then the voice card is going to be perfect for you as it gives you two free atm withdrawals per month and they also have a limit here on 200 pounds per month or your local currency equivalent so make sure you check this in your local currency before so you can see what your limitations are in your specific country all in all i would say that the wise car is definitely going to be a perfect fit if you are a free current traveler or if you are a digital nomad or if you are an expat living in a different country and you tend to make a lot of big transactions back to your home country then all in all this is going to be the perfect card for you to use now overall i think that white is great they do have some of the lowest fees on the market it's going to be the perfect fit for you who are an expert as i mentioned a digital nomad or if you just tend to travel a lot or make a lot of conversions between multiple currencies then i would recommend you to get the wise card and if you are interested in getting the wise card you can also use the link down in the video description to get to device website and sign up today with that being said this is going to be it for today's video thank you all for watching if you did enjoy please make sure to leave a like down below if you have any questions about the wise card or any other questions leave them in the comments as i try to answer as many comments as i can with that being said thanks again for watching and i'll see you guys in the very next video here on the channel yousimply using your traditional debit card for international purchases is normally quite easy in most countries the problem is is that it can get expensive and in some cases even really expensive with all the different hidden fees and the conversion rate that is added on top of each individual transaction that you make luckily nowadays are a bunch of different providers in terms of debit cards specifically made for international payments which makes it easier to spend abroad with less fees and in some cases even no fees at all this is where the wise debit mastercard comes into the picture now the wise card can be used across the whole mastercard network and also enables multi-currency access either online or while traveling on top of this apart from only being able to pay for things at different currencies at a low cost you can also hold many different currencies directly within the app itself and also convert them at any time through the app so you can easily access convert any currency to another dependent on what country you're in depending on what currency you're planning to spend in just so you can lower your fees directly this is basically like having multiple different bank accounts in each of these individual countries making it seamless to convert different currencies at a low cost as well but despite the benefits the wise card is definitely not for everyone some people simply can't get it while others may not actually need the card itself so in today's video we're taking a look at the wise card and i'll break down the benefits of the card itself so you can determine whether or not you should be getting the wise debit card and before we get into it make sure that you hit the like button down below so other people can also find this video right here now what is the wise card the voice card is linked to your multi-currency account within wise which works similar to a traditional bank account minus the high fees that you usually pay for when you have a traditional bank account and is traveling or just spending in a different currency this means that you could use your wise accounts to receive your salary your pension your tax benefits you can hold up to 55 different currencies and spend like a local when you're relocating or just traveling abroad you can pay for your utility bills or mortgage without the currency conversion fee you can get paid like a local with international bank details in 10 different currencies you can also spend online without the foreign exchange fees that you normally pay if you're spending in a different currency while shopping online and the wise debit card is currently available to people in the uk us europe canada australia new zealand singapore as well as japan but looking at some other benefits with the wise card itself it does come with the benefits of low conversion fees and no transaction fees for multiple currencies you can issue up to three virtual cars for temporary usage perfect if you're signing up for a sketchy subscription that you don't want to pay for in the long term you just want to sign up for the free trial you also get two free adm withdrawals a month you can automatically convert your currencies at a mid market rate you can use your card anywhere where mastercard or visa cards are accepted which is basically everywhere throughout the world you can use in-store contactless payments with the card itself and if you're running a business you can also open a business account so you can issue employee debit cards with custom limits assigned to each individual card now overall these benefits are definitely great if you're an expat maybe you're a frequent traveler or if you're running a startup and just getting started with your business all of these benefits are perfect for you however looking beyond the benefits of the card it does have some downsides as you currently can't make any cash deposits with the card and you can't use any credit on the card itself as well now jumping over to the design of the wise card you probably know by now if you watch my previous debit card reviews that i do care about the design of the cards itself and i think that the design actually matters as it reflects the brand itself even though it doesn't technically add any functionality to the card and it doesn't make the card better but it definitely is something to take into account luckily the voice card does come in a modern looking design with bright green colors it also got the details such as number name and expiry date on the back of the card itself which is great not only from a design perspective but also for an extra bit of security overall i do like the car design i think it looks great and it really does reflect the purpose of the card it is a free car to use it is a traveler's card doesn't try to look more than what it is it doesn't try to look premium which i just think it reflects the brand pretty well so i do like the car design i like the bright color and it's definitely easy to spot so if you end up losing it on the beach for example you can easily spot it in the sun as this will definitely stand out now jumping over to the cost and fees of opening a wise account it is actually completely free to open the account now the mid market exchange rate is always used when the currency conversion occurs on the card and also applies transfer fees for each individual transfer transaction outside of vice on top of this the country that you're currently in the currency that you're converting to or sending as well as the person's intended currency can also determine how much the fees will be for each individual transaction that you make the great thing is is that wise is very transparent in terms of the fees that will be applied on each individual transaction so even though you're making a transaction you're unsure how much the fees will be you can easily spot it within the app itself and on the website in order to understand how much you're actually paying in terms of fees and how much of the money will actually be transferred to the person you're sending the money to and if you're using your vice debit card to make transactions you're actually not gonna pay no fees at all so there's not gonna be any fees at all on your card the only exception is is if you're paying in a currency which you currently don't hold within your account so let's say you're spending in usd but you only have euro in your account then you'll pay an extra bit of fees on top of that transaction but normally if you're in the us or if you're traveling somewhere what i recommend you to do is just make sure that you already have some of that local currency converted so you can easily spend it when you're in that specific country and the fees they will pay if you don't make these conversions manually is between 0.24 and 3.69 if you don't have enough of the currency that you're trying to use in that specific transaction and if you're looking to make 80 withdrawals you can actually make up to two atm withdrawals for free a month and this is going to be up to 200 pounds a month or your local currency equivalent so make sure you do convert that or just read in a wise website if you want more details now if you do make an extra withdrawal on top of that month an extra fee will be added to your account the fee itself will vary according to the country where your card is issued but the normal fee above the free limit is usually around 1.75 percent plus a 50 p withdrawal fee or your local currency equivalent for those additional available withdrawals during that specific month now wise also does offer a guaranteed exchange rate this is the best way for you to actually ensure that you're getting the best possible exchange rate when you make your conversion to different currencies and the exchange rates are guaranteed anywhere from two to up to 72 hours at the most and the currency that you're sending is actually what's gonna guarantee the length of the time of that currency exchange on top of this another cool feature is that you can opt in to get notified when the exchange rate hits a specific level so if you're looking to make a bigger transaction perhaps you're an expat living in a specific country you're looking to make a larger transaction back to your home country then obviously you want to make sure that you have the best possible exchange rate so what you can do in the app itself is actually make sure that they send you a reminder or notification when the exchange rate is actually the best for you and that way you can actually save quite a lot of money on those bigger transactions as you probably can tell by now advice is very transparent when it comes to the fees that they apply to transactions on top of this they always use the mid market exchange rate no matter how big or large transaction that you make on your account and people who tend to send a lot of money regularly can also qualify for the volume discount which means that you get to pay less fees if you're sending more money now having large amounts of euro in your account does come with some additional fees which is 0.4 percent which essentially means that it costs money for wise to hold your euro in your account which is why they have to charge this additional fee if you're holding large amounts of euro that is why they only allow personal accounts to hold a maximum of 15 000 euro in their accounts for free and business customers can hold up to 70 000 euro in their wise accounts for free of charge but keep in mind that it's still free to hold other currencies within your account and there's no other limits it's only for the euro in this case now is the wise card right for you as i always say it will depend on your personal needs and your personal situation but i will do my best to break it down whether or not this will be the card you should be getting after watching today's video now i would say that the wise card is definitely going to be a great fit for anyone looking for a debit card that allows you to spend in different currencies to avoid those extra fees when you have to convert money a lot on your debit card it's also going to be a great fit if you're looking to get better currency conversion rates and avoid hidden fees charged by traditional bank debit card which use dynamic currency conversion instead if you're also looking for complete control over your finances while traveling this is going to be perfect as you can do all of this directly within the wise app which also lets you track your spending transfer money directly and also pay your bills and if you tend to make a lot of atm withdrawals then the voice card is going to be perfect for you as it gives you two free atm withdrawals per month and they also have a limit here on 200 pounds per month or your local currency equivalent so make sure you check this in your local currency before so you can see what your limitations are in your specific country all in all i would say that the wise car is definitely going to be a perfect fit if you are a free current traveler or if you are a digital nomad or if you are an expat living in a different country and you tend to make a lot of big transactions back to your home country then all in all this is going to be the perfect card for you to use now overall i think that white is great they do have some of the lowest fees on the market it's going to be the perfect fit for you who are an expert as i mentioned a digital nomad or if you just tend to travel a lot or make a lot of conversions between multiple currencies then i would recommend you to get the wise card and if you are interested in getting the wise card you can also use the link down in the video description to get to device website and sign up today with that being said this is going to be it for today's video thank you all for watching if you did enjoy please make sure to leave a like down below if you have any questions about the wise card or any other questions leave them in the comments as i try to answer as many comments as i can with that being said thanks again for watching and i'll see you guys in the very next video here on the channel you\n"