An international multicurrency debit card with which you can pay and withdraw money worldwide.
As you may have noticed, debit cards in the Netherlands are Maestro cards, and it is only possible to pay with them within the European Union. If you go to a country outside the EU, Maestro cards are only good for cash withdrawals and not for paying in shops. This will change soon, but while you get a Visa or Master Card from your bank it might be worth getting a Wise card.
Wise, formerly known as TransferWise, is a financial technology company offering international money transfer, bank account and debit card services. The Wise card is a Mastercard debit card that allows you to pay and withdraw money anywhere in the world where Mastercards are accepted.
How does the Wise card work??
The Wise card works in partnership with local banks around the world. When you use your card to pay or withdraw money, Wise converts your money into the local currency at a fair exchange rate. Wise charges a fee for these transactions, but it is generally much lower than the fees charged by traditional banks.
You can use IDeal or a bank transfer to add money to it.
Advantages of the Wise Card.
The Wise card has several advantages over other international debit cards:
- Fair exchange rates: Wise uses real market exchange rates to convert your money, which means you pay no hidden fees.
- No maintenance fees: The Wise card has no maintenance fees, so you can use it without worrying about overpaying.
- No transaction limits: You can use your Wise card to pay and withdraw money without limits, making it ideal for travel or international business.
- Free withdrawals:Withdraw up to 200 EUR per month from the ATM without commission.
Disadvantages of the Wise Card.
The Wise card also has some disadvantages:
- Not available in all countries: The Wise Card is currently available in more than 80 countries, but not in all.
- Puede tardar unos días en llegar: La tarjeta Wise tarda unos días en llegar a tu domicilio después de solicitarla.
- May take a few days to arrive: The Wise card takes a few days to arrive at your home address after you apply for it.
- There may be fees for ATM withdrawals: Wise charges a fee for ATM withdrawals, but this fee is generally lower than the fee charged by traditional banks.
How to apply for the Wise Card.
The Wise card is available to anyone over the age of 18. To apply for the Wise card, you can do so via the Wise website or the Wise mobile app. You will need to provide some personal details, such as your name, address, date of birth and phone number. You will also need to create one on Wise.
Once you have applied for the card, Wise will send you a welcome letter with your account information and a tracking number. The Wise card will take a few days to arrive at your home address. If you don’t have a Wise account or card yet you can apply for one by clicking this link, this way you help support the blog and future articles.
The ideal card for holidays, multi-currency card
The Wise card is a great option for holiday use. It offers fair exchange rates, no maintenance fees and no transaction limits. If you are looking for an international debit card that will help you save money, the Wise card is a good choice.
The card gives you the possibility to decide whether you want the money to stay in Euros or convert it to the currency of the destination you are going to, for example if you are going to the USA you can add money to the card and convert the Euros to dollars in the application and then you will be paying in dollars when you use the card. The exchange rate offered by Wise is better than the exchange rate of a conventional card.
Remember that when paying on your trip, regardless of which card you use, you should pay in local currency if you are given that option when you swipe your card, otherwise it can be more expensive, as each shop or restaurant may set their own exchange rate to convert the amount you spend. In addition, they may add additional conversion fees.