Wise Debit Card: All You Need To Know 2024

The Wise Debit card, works with the Wise multi-currency account (Borderless) to give customers an easy way to spend their balances in multiple countries. With interbank rates and low fees, this product almost sounds good to be true. So, is it?

What is the Wise Debit Card?

The Wise (formerly known as TransferWise) Debit card is attached to your Borderless Account and can be used to make purchases internationally. It’s just like having a local card in overseas locations. It makes it easier to spend money internationally, even if you don’t have the currency you need in your account.

Wise card features

• Hold and exchange 50+ currencies in your Wise Account
• Spend in 170+ countries, withdraw at 2.3 million ATMs
• Convert currencies in your account with the mid-market exchange rate and low fees
• Virtual cards available instantly
• View and manage your account in the Wise app
• Freeze and unfreeze your physical card and virtual cards instantly
• Wise is regulated and overseen by authorities all over the world

Pros of the Wise debit card

• No ongoing card charges to pay
• Free to spend any currency you hold in your account
• Auto convert function to cut costs even if you don’t have the currency you need
• 2 free ATM withdrawals, to the value of 350 NZD per month, with low fees after that
• Get up to 3 virtual cards for easy spending and budget management
• Not a credit card – no risk of interest charges creeping in
• Personal and business cards available

Cons of the Wise debit card

• One time 14 NZD fee to get your card in the first place
• Some ATM fees apply when you make 3 or more withdrawals, worth more than 350 NZD/month
• Top up account online or in app only – no cash or cheque options
• No credit facilities

–> Wise Full Review Here

Who is the Wise debit card for?

The Wise debit card is available in New Zealand for both personal and business customers, which means it can be a great way for lots of people to manage their money conveniently – and cut transaction costs at the same time. The Wise debit card is great for:

• Travellers looking to make contactless or mobile payments
• Anyone on holiday who wants to withdraw cash cheaply from local ATMs
• People who love to shop online with international retailers
• Anyone who wants a low cost, secure account with both virtual and physical cards
• Entrepreneurs who need to spend in foreign currencies
• Business owners who want to offer international debit cards to team members to manage spending and expenses

Is the Wise card a good option?

Wise is intent on revolutionising the way people and businesses transact internationally, to make it cheaper, faster and more convenient compared to traditional banks. The Wise card is a great addition to Wise’s suite of products, offering easy ways to spend in person, on the move, and online, and make ATM withdrawals, with the real exchange rate and low, transparent fees.

Can I get the Wise debit card in New Zealand?

Yes. You can get your Wise debit card in New Zealand in just a few simple steps.

You’ll first need to register a Wise multi-currency account using your email address, Facebook, Apple or Google ID. Top up your Wise account in the currency of your choice and then you can order your Wise card in the app, for a one time 14 NZD fee.

Can I use the Wise card abroad?

The Wise card is specifically created to make your life easier when travelling abroad. All you’ll need to do is open your Wise account before you travel, with your local ID and proof of address for verification, then order a linked international Wise card for a low, one time fee, for spending and cash withdrawals in 150+ countries.

When you spend with your Wise card, the balance needed is deducted from your Wise account. If you have the right currency for the country you’re in, the funds are simply taken from that balance with no fee to pay. If you don’t have the currency you need where you are, the card can automatically convert your balance from the currency that incurs the lowest available fees, using the mid-market exchange rate.

Here’s what you can do with your Wise card:

• Make contactless payments in person while you’re away
• Add your card to a wallet like Apple Pay for mobile spending
• Make cash withdrawals at ATMs globally
• Spend online in foreign currencies 

Wise card fees for spending abroad

Spending in foreign currencies with a Wise card could be significantly cheaper compared to using your bank’s debit card. 

Your bank is likely to add a foreign transaction fee to every purchase or withdrawal you make in a different currency – this is often in the region of 2% of the cost of the transaction. Wise on the other hand uses the mid-market exchange rate with low fees from 0.43%. That means that you can cut your costs whenever you use a Wise debit card to shop when you travel, spend with international ecommerce stores, or make a cash withdrawal overseas. More on how that works, next.

How do Wise card fees compare for spending abroad?

Wise cards tend to offer better exchange rates and lower overall fees compared to the credit and debit cards offered by major banks in New Zealand. There are no foreign transaction fees to pay with Wise – and no chance of running into interest or penalty charges as you might with a credit card. That means you could save considerably, every time you use a Wise debit card to shop when you travel, spend with international ecommerce stores, or make a cash withdrawal overseas.

How does the Wise card compare to other popular cards?

The Wise card is a popular pick for travellers, tourists and people who live and work internationally. You’ll be able to hold a balance in a broad range of currencies which means it’s flexible and can be used more or less anywhere in the world you happen to be. Let’s take a look at how Wise measures up against a few other travel cards you can get in New Zealand:

What is a Wise card?

The Wise card is a debit card – not a credit card – that’s linked to a multi-currency Wise Account. It’s great for spending and making cash withdrawals, online, at home and abroad – and best of all, you’ll get currency conversion using the real mid-market exchange rate whenever you choose to spend in a foreign currency.

• Make payments and withdrawals in 170+ countries
• Use 2.3 million ATMs for withdrawals, all around the world
• Top up in the currency you prefer and check your account balances at a glance in the app
• Switch currencies with the real exchange rate and low, transparent fees
• Spend any currency you hold in the account for free
• Auto convert feature makes sure you always pay the lowest possible fee when spending currencies you don’t hold in your account
• Instant transaction notifications for security
• Get instant access to 3 virtual cards
• Freeze and unfreeze your card whenever you need to
• Debit card – making it easier to manage your budget without running up debts or incurring credit charges

Wise virtual card

The Wise virtual card – also known as the Wise digital card – allows you to make payments online and in stores with your phone. Simply add your virtual card to a mobile wallet like Apple Pay or Google Pay, to make contactless payments in stores and buy things online. You can have up to 3 virtual cards at any one time which can make it easier to manage your budget by assigning different spending types to different cards.

Wise virtual cards have different card details to your physical card, and can be frozen instantly whenever you’re not using them – offering a handy added layer of security. You’ll be able to start using your Wise digital card as soon as you order your physical card, with no need to wait for the physical card to be delivered.

Read also best international virtual cards in New Zealand

How does the Wise debit card work?

The Wise international debit card is linked to a multi-currency Wise Account, which lets you hold, exchange, receive and send payments in 50+ currencies. Order a linked Wise debit card to make it easier to spend and make cash withdrawals from your Wise Account balance, all over the world.

It’s always free to spend currencies you hold in your account. And if you don’t have the currency you need in your account, the Wise debit card can automatically convert the amount for you from whichever available currency account has the cheapest conversion fee. That means that there’s no need to worry about converting money before travelling, because you’ll always know you’re getting the best available deal every time.

Wise card limits

Your Wise card comes with default set limits which you can change if you would like to. Daily and monthly limits apply – daily limits refresh each day at midnight, while monthly limits restart on the first day of each calendar month. If you’re not happy with the default limits it’s easy to change them to suit you – just log into your account on the Wise app or desktop site.

First, here’s a rundown of the standard Wise personal debit card limits by transaction type:

It’s good to know that Wise personal debit cards work a little differently to Wise business debit cards in terms of the way the limits are applied. We’ll cover the Wise business debit card in more detail a little later.

Wise card fees

Here’s a rundown of all the fees you can expect to meet when ordering and using your Wise multi-currency debit card:

Wise exchange rate

Wise was created with a mission to make currency conversion cheaper and more transparent. Every time you switch currencies with Wise you’ll get the mid-market rate with no hidden markup – when you spend with your Wise debit card, convert currencies within your Wise Account, or send an international payment.

This is different to banks and most other international card providers. Typically, the exchange rates you get from other providers will include a markup which is added onto the exchange rate used. That’s an extra fee, but it’s hard to spot and pushes up the prices you pay without you necessarily knowing it. To avoid this tricky fee, Wise uses the mid-market exchange rate and splits out the full costs of currency conversion for transparency. You’ll be able to see the full fees you pay when you switch currencies within your account – and if you use the card’s auto convert feature, you can be sure the transaction will be processed with the lowest fee possible.

What can you do with the Wise debit card?

The Wise debit card could be a good match for many different customer needs. If you’re a frequent traveller, the Wise card is handy because you can reuse it time and time again, with 40+ supported currencies and no ongoing fees. If you live abroad it’s a useful way to manage your money across various currencies. And if you shop online with international retailers you can use your Wise card to avoid foreign transaction charges and keep down your overall costs.

Make international purchases in person and online

Add a balance to your Wise card in NZD and use it to spend in 150+ countries globally, both in person and online. There’s no foreign transaction fee to pay and currency conversion starts from just 0.43% – plus the card is contactless for easy payments and can be added to wallets like Apple Pay for mobile transactions, too.

Make ATM withdrawals at home and abroad

Use your physical Wise card for ATM withdrawals globally, and get up to 350 NZD of withdrawals free monthly, with low fees after that. That means there’s no need to arrange your travel money ahead of a trip – just make secure and convenient withdrawals on arrival to save time and hassle at a money changer.

Travel to different countries with the same card

The Wise card supports holding a balance in 40+ currencies and can be used to spend in 150+ countries. There are no ongoing fees and no account dormant fees, so you can get your card and then use it freely every time you travel, while only paying for the services you want and use.

Lock in an exchange rate before you travel

Hold any of 40+ currencies in your Wise account, allowing you to convert when you spot a good exchange rate, and set travel budgets ahead of time. This feature can also make saving and budgeting for an international trip or purchase far easier as you’ll be able to exchange to the currency you need whenever you want, and instantly see the balance you have for spending.

How to freeze and unfreeze your Wise card

You can freeze or unfreeze your Wise card online or in the Wise app:

1. Open the Wise app or log into your account online
2. Tap on Card
3. Select Freeze card

When you’re ready to use your card again, follow the same steps and select Unfreeze card.

How to replace or cancel your Wise card

On the app:

1. Go to Card tab
2. Tap on Replace Card
3. Choose the reason why are you replacing your card
4. Tap on Replacement Card

If your card has been lost or stolen it’ll be cancelled right away. If your card is damaged but can still be used, you’ll be able to continue to use it and it’ll be cancelled when you activate your new card.

How to replace or delete a digital card

The easiest way to replace a digital card is on the Wise app:

1. Go to Card tab
2. Slide to the digital card you want to replace
3. Select Replace card

You can get new card details up to 3 times a day. When you generate a new set of card details, your old ones will stop working.

How to get your debit card

Here’s how to get your Wise international debit card in just a few simple steps:

• Open a Wise Account online in just a few minutes
• Top up your Wise Account in the currency of your choice
• Order your Wise card for a one time 14 NZD fee
• Start spending with your digital card right away
• Your physical card will arrive in the post in a few days – or you can choose express delivery for an extra fee to get your card in the shortest possible time

If you don’t already have a multi-currency Wise Account it’s good to know you can register in just a few minutes using your email address, Facebook, Apple or Google ID.

You’ll also need to complete a verification step for security – this usually involves taking a selfie with your passport or other eligible ID document. Your account can be up and running as soon as it’s been verified – which is often instant, or at least within 24 hours of registering.

How to activate your Wise card

Once your physical card arrives in the post you’ll need to activate it. This is done simply by making a purchase using your PIN number – or if you’d prefer you can make a cash withdrawal or check your balance in an ATM. You’ll be able to find your PIN, as well as your card number and CVV code, in the Wise app at any time.

How to top up your Wise card

Your Wise debit card is linked to your multi-currency Wise Account. To add funds to your Wise Account you’ll need to take the following steps:

• Log into your Wise Account online or in the Wise app
• Select the currency balance you want to top up
• Tap Add
• Confirm the currency you want to pay with
• Enter the amount you want to top up and select a payment method
• Check everything over, confirm and follow the prompts to complete the payment

You can also add money to your Wise Account directly from your online banking service using your local bank details for eligible currencies. In New Zealand, that means you can top up fee free in:

• New Zealand dollars
• British pounds
• Euros
• US dollars
• Australian dollars
• Singapore dollars
• Canadian dollars
• Romanian lei
• Hungarian forint
• Turkish lira

Log into your Wise Account to see the local bank details for your preferred currency and use these to transfer money direct from your bank account in that currency.

Wise debit card for business

The Wise business debit card is currently available in New Zealand, the EU and EEA, Canada, Singapore, Japan, Australia and the UK. It’s also being rolled out in the US. If you’re in New Zealand you can expect your physical card to arrive within 3 weeks of ordering it – or you can choose the express delivery service for a fee to get your card in just a couple of days.

Wise business accounts come with multi-user access (MUA) which means you’ll be able to assign roles to your team members to let them access the tools they need to do their jobs, without needing to share sensitive company information. Anyone in your team assigned an employee or admin role within the Wise Account will be eligible for a Wise business debit card, which they can use to spend and make cash withdrawals all around the world.

Like the Wise personal international debit card, the Wise business card offers currency exchange which uses the real mid-market exchange rate, and it’s always free to spend currencies you hold in your account. If you don’t have the currency you need, just allow the card’s auto convert feature to work its magic, and switch currencies from whichever balance incurs the lowest fee.

One important difference between the Wise business debit card and the Wise debit card for personal users, is the way spending limits work. You’ll be able to add multiple team members to your Wise business debit card, and each team member’s spending adds up towards the daily and monthly limits on the card. That means for example that if team members make ATM withdrawals to the value of 2,700 NZD during a single day, no other withdrawals can be made from the account until the card resets at midnight. Team members will be able to see their own personal spending limits, and card holders with admin rights can see the total spending per transaction type across all issued cards.

Here are the limits you need to know about, for reference:

–> More about Wise Fees

Where is the Wise card available?

If you have a Wise Account and are a resident of any of the following countries and regions, you can apply for a Wise debit card:

• New Zealand
• The EU and EEA
• The UK
• The US
• Canada
• Switzerland
• Singapore
• Malaysia
• Japan
• Australia
• Brazil

What currencies does the Wise card support?

You can use your Wise card for spending in 150+ countries. Within your Wise account you can hold 40+ major currencies, and you can easily top up in NZD or any of around 20 supported currencies for topping up. If someone else needs to send you a payment you’ll also get local bank details for 9 popular currencies including NZD, AUD, USD, CAD, GBP and EUR.

How to withdraw money with the Wise card

You’ll need to first find an ATM which supports Visa or MasterCard, and then you can make a ATM withdrawal with your Wise card by following these steps:

1. Insert your card and select the option to make a withdrawal
2. Enter the amount you want to withdraw
3. Enter your PIN for security
4. Your money will be dispensed and your card will be returned

To make sure you make the most of your money when withdrawing with Wise:

• Always pay in the local currency to avoid extra charges
• Keep an eye on the ATM screen to see if the ATM operator will add any of their own fees
• Check your remaining fee free ATM withdrawal allowance in the Wise app easily so you’ll know whether you need to pay and charges

Is Wise safe to use?

Yes. The Wise card is safe to use. As a global company, Wise is covered by regulatory bodies all over the world. That means that no matter what currencies you hold on your Wise debit card, you know your money is kept safely and in accordance with global laws and best practices.

Wise Accounts have a range of security features including thorough verification processes, 2 factor authentication and a 24/7 fraud prevention protocol. Additionally, Wise debit cards can be frozen instantly in the Wise app if you’re concerned about security, with real time transaction notifications and the option to check your balance and account history in a glance in the app.

Conclusion: Is the Wise card worth it?

The Wise debit card can make life easier – and help you save money – if you travel often, shop with international ecommerce stores, or have a business and want to issue your team with international debit cards to manage spending.

Wise currency exchange always uses the real mid-market exchange rate with no markup and no hidden fees – and with the Wise debit card’s smart auto convert feature you don’t even need to switch currencies before you travel. Leave the Wise card to switch to the currencies you need, when you need them, with the lowest possible fee every time.

FAQs – Wise card

Can I use my Wise card abroad?

Yes. Infact, the Wise card can help you cut the costs of currency conversion when you spend and make withdrawals in over 170 countries around the world.

Is the Wise card contactless?

Yes. The Wise international debit card is contactless for convenient spending.

How can I add money to my Wise card?

To add money to your Wise card simply log into your Wise account in the Wise app or on the desktop site, select the currency you want to top up, enter the amount and select a payment method. Follow the prompts to pay, and your balance will be available once the payment has cleared.

How can I get a Wise debit card?

To order a Wise debit card, first log into your Wise account on the Wise app and tap the Cards tab. Tap the Order card option, and follow the prompts – your card will be sent to your home address.

How long does it take to get the Wise card?

Your physical Wise card will arrive in 7 to 10 working days – once you’ve ordered your card you’ll be able to generate digital cards instantly to add to a wallet like Apple Pay for mobile payments.

How can I activate my Wise debit card?

To activate your Wise debit card for contactless use you’ll need to first either make a Chip and PIN purchase, or insert your card into an ATM and use your PIN to make a withdrawal or a balance enquiry.

Claire Millard

Author

Claire Millard

Fintech copy and content writer

Claire Millard is a content and copywriter with a specialty in international finance. Her work has featured in The Times and The Telegraph, as well as industry magazines and leading personal finance blogs.

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Ileana Ionescu

Reviewer

Ileana Ionescu

Content manager

With a background in business journalism, Ileana is an experienced content manager, creating content for Exiap that helps its audience make informed decisions about their finances.

Read more

Last updated

March 21st, 2024