WISE Beginners' Guide: How To Send Money, Virtual Cards, Exchange Currencies & MORE 

That's so great and you're very welcome. Helping people save money and avoid hidden exchange rate fees is precisely why we make videos 😊 All the best. ^Jonny

Thanks! Glad you enjoyed it! ^Jonny

That is a great question, I asked them on LinkedIn and they just gave me 'coming soon vibes' in their response. I think their reply was 'Watch this space'. So we could have a redesign in the near future. Cheers! ^Jonny

That would be at the behest of your bank, but you'll have CAD bank account details so you could technically make a local transfer which should be free. ^Jonny

It is clear. There are some costs for depositing money but they are always a percentage of the deposit amount so topping up more at once won't make a difference. You're better off just depositing the amount you need for a transaction, transfer, currency exchange etc.

You're welcome, let me know if you need any further help. ^Jonny

Thanks Shane! ^Jonny

No there won't be any charges once you've paid to exchange currencies. ^Jonny

The only benefit could be that the exchange rate you get before using the ATM is better than at the time of withdrawing.. Otherwise there is no additional benefit. Don't forget when you do withdraw money that you choose to pay in the local currency, that way you'll receive the exchange rate that WISE offers and not the ATM provider or another banks. ^Jonny

@@Monitodotcom Thank you for a quick answer. If I understood it's almost the same when making transactions in shops and services. I was wondering what kind of small fee is included when paying in a different currency than local? Already made an account and ordered the card✌️

Aweome, I'm certain you won't regret it. This will vary depending on the currency, for example, right now GBP to EUR will incur an exchange rate mark-up fee of .27%. and an overall fee of .43%.and if you spent £100 in euros you would be charged a fee of 43p. Check out this page for more currency conversion fees: wise.com/gb/pricing/card-fees?sourceAmount=100&sourceCcy=GBP&targetCcy=EUR

Yes, your cards are linked with your Apple ID, so they won't be impacted if you change your SIM. ^Jonny

Most welcome 😊

You can receive money from people on WISE using just your e-mail address or phone number, so you could remain anonymous with an e-mail address. However, that's only for people with a WISE account, otherwise, I don't think you could without having to share your full name. ^Jonny

Yes exactly, that's the recipient address. ^Jonny

Hey! You're welcome. Can I ask which country you're based in? ^Jonny

That's likely to be something known as Open Banking, I use it to gain quick access to depositing money from my main current accounts in the UK. You can learn more here: wise.com/help/articles/2977964/paying-by-open-banking

Personally I would say it is safe, I use WISE and have money deposited in their interest earning accounts. But if you want to read more about how they safeguard your money then check out this article (wise.com/help/articles/2949821/how-wise-keeps-your-money-safe). Let me know if you have any further questions. Cheers. ^Jonny

Thank you Jonny

Glad it was helpful! ^Jonny

No, currently there is no annual fee. ^Jonny

Hey mate! I'd just www.Monito.com and input Poland as the country From and Australia as the To. See who we recommend as the best provider, I think your fastest option will be WISE and your best TransferGo. But double check as I don't know how much you're looking to transfer. Cheers! ^Jonny

Yes you can, in fact I’ve personally used it in the Philippines.^Jonny

Yes the app would work in Taiwan, however it isn't available to Taiwanese people that just reside in Taiwan. ^Jonny

Are you based in the US? ^Jonny

I just checked www.Monito.com (www.monito.com/en/compare/transfer/ca/in/cad/inr/1000) for 1000 CAD to India, WISE are an option but not the best. If you check our comparison engine and enter how much your friend wants to send, she'll get more details. ^Jonny

Hey Jonathan. It's actually really simple, WISE will recognise that the local currency is in EUR and deduct the money from your euro balance. You won't need to choose the currency or do anything manually. If you don't have the local currency in your account, WISE will deduct from the currency that will give you the best rate, they call that their 'smart conversion technology.' (wise.com/help/articles/2935778/what-if-i-spend-money-in-a-currency-that-i-dont-have-in-my-account). Hope that helps, let me know if you have any further questions. ^Jonny

Thank you! ^Jonny

Yes absolutely. It's like any other debit card that you may get from a bank. ^Jonny

@@Monitodotcom ok thanks very helpful

Unfortunately that currency isn't available with WISE, have you checked www.Monito.com ? ^Jonny

Unfortunately that currency isn't available with WISE, have you checked www.Monito.com ? ^Jonny

👀

I think Revolut will be a good shout, given they have crypto trading built into their app. If you're looking for a licensed bank then that may be a bit tricky, but you could try Monzo. ^Jonny

That happened to me and my bank had wise on the blocked list due to fraud issues. I couldn't do anything with my debit card attached to this back. Luckily I had another bank account in which it allowed me to use my debit card with wise.