Currently, for this year 2024, the best travel card is the Wise Card. It offers the best currency exchange rates and the lowest fees compared to any other travel card or bank card on the market, both for card payments and cash withdrawals from ATMs in any currency.
Furthermore, in comparison to any other card, it also boasts the best and most up-to-date features. Among many other advantages, you can instantly manage your card from your mobile device and receive customer support in many languages if you need assistance.
Now, let us explain how you can easily obtain your Wise card and how it will allow you to maximize your savings on all your trips when using it for payments.
How to get your Wise card?
Obtaining your Wise Card is very simple. The Wise card is currently available in the United Kingdom, the United States, Switzerland, Australia, New Zealand, Singapore, Malaysia, Japan, Canada, Brazil and most European countries. Just follow these instructions to get it:
A) Click on this link and sign up for Wise (top right corner). To do this, you only need to provide your email address and choose a password. Afterward, the page will prompt you to make your first currency transfer, but we’re not interested in that at the moment. Instead, check your email inbox, where you will find a confirmation email that you need to verify to complete the registration process.
B) After confirming the email, Wise will validate your registration, and on the same screen, you can request your card. Your request will be processed quickly, and you just need to follow these three steps:
- Complete your details.
- Load a minimum balance of around 20 dollars or any amount you prefer (or the equivalent in the currency you choose to open your account in). The platform offers various options for this (bank transfer, card payment, online payment, etc.), always allowing you to select commission-free options.
- Pay the card issuance and delivery fee, which is currently only 9 dollars or its equivalent in other currencies (subsequent renewals will be free). You won’t have to pay any more fees, and as we will see next, be cautious of other supposedly “free and commission-free” cards, as that is simply not true, and they apply hidden fees and fine print everywhere. To give you an idea, by spending the equivalent of about 100 dollars in foreign currency, you will already benefit from the Wise Card and start saving compared to cards advertised as “free and commission-free.”
- Take two photos of your ID with your mobile phone and upload them to the platform.
And that’s it! Depending on your selected payment method, the receipt of the deposited funds will be confirmed quickly, and in about five days, you will receive your card at home. You can then activate it easily and securely through the Wise website or mobile application using the 6-digit code you’ll receive (please note that delivery times may vary depending on your country’s postal service and local holidays).
Advantages and unique benefits compared to other cards
1) Pay in any currency abroad without fees
With the Wise Card, you can hold balances in multiple different currencies (the platform accepts most currencies from around the world). This means that when you travel to a foreign country, simply open a balance in that specific foreign currency on your Wise account and load funds into it by depositing money or converting balances from other currencies. Unlike conventional banks, Wise applies the official exchange rate that you can find on Google for these currency exchange transactions. It only charges a tiny commission, starting at just 0.40% (typically around 0.45% or less for major currencies).
By doing this, you will have the local currency at your disposal to make payments at any establishment while avoiding any kind of commission, unlike any other card. Remember, if given the option to pay in the local currency or your home currency, always choose to pay in the local currency of the country you are visiting (for example, choose pounds if you’re traveling to the United Kingdom).
On the other hand, if you were to use your conventional bank card, despite being told that foreign currency payments are fee-free, that is not true. Banks apply a markup of 3%-5% on top of the exchange rate provided by VISA or MasterCard, which already includes an additional markup of around 0.5%-1.5% depending on the day and the currency. So, with traditional bank cards, you end up paying a real cost of 3.5%-6.5% in the best-case scenario.
While there are specific prepaid travel cards that promise no fees for foreign currency payments, that is also not entirely true. Usually, they apply the aforementioned markup of 0.5%-1.5% on top of the official exchange rate, commonly charged by card providers. Additionally, they hide in the fine print that they will charge an extra 1%-2% above a certain amount.
In the best-case scenario, it is true that some travel cards apply the official exchange rate for payments in specific currencies, but the catch is that it’s only for those particular currencies (for others, they apply a markup of 0.5%-1%), and in the fine print, they mention that it only applies on business days. During holidays and weekends (precisely when we spend the most), within the closing hours of the financial market where the company operates, they apply a margin of 0.5%-1%. Moreover, we have found that these types of cards might also use the trick of applying an additional 0.5% markup above a certain amount.
Therefore, for payments at merchants, the special travel cards will result in a real cost of 0.5%-3.5% in the best-case scenario, which is better than traditional bank cards but worse than the Wise debit card.
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Real cost of cards for payments in foreign currency |
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| Wise card | Other travel cards | Bank cards |
| From 0,40% (normally 0,45%) | Between 0,5% and 3,5% | Between 3,5% and 6,5% |
2) Withdraw cash for free in any foreign currency from ATMs
With the Wise card, you can withdraw cash for free twice a month from any ATM worldwide, up to 100 dollars or the equivalent in any other currency. You only have to pay a minimal fee starting from just 0.40% (generally around 0.45% or less in major currencies) if you don’t have the balance already converted into the local currency in your account.
You don’t need to perform complex calculations as the Wise app will indicate your limits for free ATM withdrawals at all times. If you meet these requirements, you will only have to pay the fee charged by the foreign ATM if applicable, which will be informed to you before accepting the transaction. If you find it excessive, you can always cancel the transaction and find another ATM.
Even if you exceed your limits, it would still be very cost-effective to withdraw cash with this card. Wise will only charge a modest fee of 2% for the portion that exceeds 100 dollars in a single withdrawal. If you make more than two withdrawals per month, there will be an additional fee of just 1.5 dollars per withdrawal.
In summary, the following table clearly shows Wise’s low fees for cash withdrawals from foreign ATMs in any situation:
| Withdraw less than 100 dollars | Withdraw more than 100 dollars | |
| 1 or 2 withdrawals per month | Free | 2% for the part that exceeds 100 dollars |
| More than 2 withdrawals per month | 1,5 $ | 1,5$ + 2% for the part that exceeds 100 dollars |
It’s important to remember that in order to avoid paying any fees, when withdrawing cash, you should select the option for the foreign ATM to charge you in the foreign currency. Otherwise, if you choose to be charged in your home currency, the ATM will apply its own exchange rate, which can be usurious in some cases. For example, if we travel to London, select to pay in British pounds.
If you decide to use your conventional bank cards, be prepared for a significant blow: they will charge you between 4% and 5%, with a minimum of around 4-5 dollars, simply for withdrawing money outside your country. This is in addition to a 3%-5% fee if there is a currency exchange, on top of the markup of 0.5%-1.5% that the card provider may apply, as well as the ATM’s own fee. In the best-case scenario, with bank cards, you will pay between 7.5% and 11.5% in fees for withdrawing foreign currency from ATMs.
If you choose to use specialized travel cards, once again, you should be skeptical of the promises of “zero fees.” The reality is that most of them allow free withdrawals, but only up to a certain amount and a certain number of times. Beyond that, they apply a fee of 1%-2%, and if there is a currency exchange, they usually do not apply the real exchange rate but the one offered by the card provider, which is typically between 0.5% and 1.5%.
Certainly, there are a few travel cards that do offer to apply the official exchange rate, but they charge a fee of 1%-2% above a certain amount or number of withdrawals. Additionally, in the fine print, they state that it applies only to certain currencies (for others, they apply a markup of 0.5%-1%) and only on business days, as they apply a margin of 0.5%-1% on weekends.
Therefore, for cash withdrawals in foreign currency, the real cost of the best travel cards would be between 0.5% and 3.5%, which is undoubtedly better than bank cards but worse than Wise’s travel card.
| Real cost of cards for withdrawals of foreign currency at ATMs | ||
| Wise card | Other travel cards | Bank cards |
| From 0,40% (normally 0,45%) | Between 0,5% and 3,5% | Between 7,5% and 11,5% |
3) Manage your card from your mobile
From your mobile, you’ll be able to control your card at all times:
- Card lock: At any time, you can lock your card with a simple click from your mobile, which is extremely useful in case of theft or loss abroad.
- Real-time notifications: You will receive immediate notifications of any expenses made with your card. This way, you can block it at any time from your app in case of fraudulent transactions.
- Send and request money with a single click: You can recharge your card instantly through a bank transfer or with another card, among many other options.
- PIN management: From your mobile phone, you can modify your PIN code at any time, create a new one, remember it, or unlock it if you have entered it incorrectly multiple times.
- Reporting fraudulent transactions: In case of incorrect, duplicated, fraudulent, or any other erroneous transactions, you can easily report them from your mobile right away.
- Modify your card limits: For security purposes, you can set maximum spending limits for your card and modify them according to your preferences at any time and instantly.
- Customer support: You have access to customer support in many languages if you need assistance.
- Others: Forget about the old online banking of traditional banks with all kinds of limitations, having to call your bank manager who never answers when you need them, and having to go to your branch with an endless queue just to be given the runaround without a solution to your problem.
4) Smart card that always benefits you
In case you run out of balance in the currency you want to spend, you can still pay with your card if you have balance in other currencies. Therefore, Wise will apply the official exchange rate and only charge you a small commission for the transaction. But that’s not all! If you have multiple currencies available, Wise will always perform the currency exchange that incurs the lowest commission!
5) Pay with your mobile
If your mobile phone has NFC technology (Near Field Communication), you can easily pay with it. Download the Google Pay or Apple Pay application (among other options), add your Wise card, and follow the steps to activate it. After that, you can conveniently pay with your mobile, which is not only very convenient but can also be extremely valuable in case your wallet gets stolen abroad. As long as you have your mobile phone, you can continue to make payments without any issues.
6) Free virtual cards
You can obtain virtual cards completely free of charge to make online purchases with the same conditions and advantages as physical cards. In other words, you will get a card number, expiration date, and CVV code for each digital card you choose to create (these associated data on your mobile will allow you to make online purchases with total security).
This way, you can use these cards as a safer and cost-free payment method for online purchases. For example, if you no longer wish to pay for a subscription and the online store ignores your request, simply cancel your digital card and create a new one (if you wish). Problem solved! They won’t be able to charge you anything once the card is canceled. This simple method allows you to solve the problem without having to request the delivery of a new physical card. You can do it instantly with a couple of clicks from the Wise mobile app or your private area on their website.
7) Earn interest on your money every month
In your Wise account, you can have fully liquid and available balances in multiple different currencies. For each balance you have in euros, pounds, or dollars, you will earn highly competitive interest every month. These interest rates vary each month based on the central bank’s own interest rates for the respective currency.
8) The best card for traveling for only 9 dollars
As we have seen, compared to competitors’ cards, by making payments of around 100 dollars in foreign currency, you are already benefiting, and it is worthwhile to obtain this card. In addition, the 9 dollars issuance fee (or its equivalent in other currencies) includes free delivery, regardless of where you live, and card renewals will be free. Other companies may charge a higher issuance fee, shipping costs, and additional fees for expired card renewals.
Be cautious of free cards. Nothing is given for free, and if you are provided with a debit card at no cost, it’s because they know they will make up for it with the numerous fees they will charge you.
Also, keep in mind that many companies offering travel cards with very advantageous conditions fail to mention that it is only for the premium paid card, while the free card comes with fees for everything: foreign payments, ATM withdrawals, balance inquiries, maintenance, non-usage, reloads, unloads, etc.
Furthermore, be very careful with promotional advertisements, as the offer of new travel cards in the market is currently increasing rapidly, and many companies try to attract customers with very appealing promotions, which they constantly modify to make money once they have a sufficient number of customers.
9) Wise MasterCard accepted worldwide
Wise’s card provider is MasterCard, and therefore, it will be fully accepted at all merchants worldwide that accept cards.
Don’t risk getting travel cards from unfamiliar providers that may let you down by not being accepted when you are outside your country.
Furthermore, having an internationally recognized financial services provider like MasterCard guarantees the possibility of conducting your transactions with total security and speed in any country.
How can Wise charge so little and be so fast in transactions compared to any other competitor?
The reason why Wise is unbeatable in terms of fees and speed compared to any conventional financial institution is very simple: with millions of customers worldwide, Wise has funds in many different countries and in various currencies, so it doesn’t actually need to perform any currency exchange. For example, if you want to convert your euros to dollars from Spain to a US account, what actually happens is that you simply deposit euros into Wise’s Spanish account, and in return, Wise’s US account in dollars delivers your dollars shortly after verifying the authenticity of the transaction securely. Therefore, since there is no actual currency exchange involved, the transfer can be done at a minimal cost and with great speed.
Conclusion:
Wise, the ideal card for traveling as you have seen, with Wise, you will save on your travels by not paying fees for foreign currency payments or ATM withdrawals. Additionally, through your mobile phone, you will have full control and management over your card, and it’s available in many languages! Get your card by registering with Wise using this link and start saving!