https://docs.google.com/spreadsheets/d/1DF1...dit?usp=sharing

Here's a template you can use to compare I created it based on someone else's thread (credits also in my sig/the sheet). Just replace the currency 3-letter code accordingly.

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I like that Wise is somehow partnered with IBKR (overseas brokerage, I have an account for long term investments). Last year, after returning from business trip, I still had remaining EUR in my Wise so I just transferred at 0 fee into IBKR, and I could directly invest in EUR.

I also had more favourable rate on Wise because I happened to convert a few weeks earlier when MYR was stronger lol, and I didn't want to travel far for better shops. Had I relied on bigpay, I wouldn't had the opportunity to lock in better rate earlier because my money would've just parked in my wallet as MYR haha.. but really niche la.

Right now I saved JPY in my Wise "Jar", it's not touched whenever I make any transaction with my card. I'm waiting to use it in future travels where I expect JPY to strengthen (so convert now to lock in the rate). It's a gamble on my side, really.

Answered above 💯 like I said previously, I'm gambling that Yen will strengthen, hence the jar... The amount I kept there likely won't fund my whole Japan trip so I can be flexible to figure out how I want to get the rest later. Here are a few ways I can think of:
- online purchase: in my previous trips, I went to Japanese websites to transact some tickets and stuff in Yen.
- cashless payments: it works just like your credit cards (MasterCard or Visa), so any merchant accepting those will be ok with Wise. Paywave is a hit or miss though..., it didn't work for me in the Netherlands, worked in Singapore, don't know about Japan.
- withdraw ATM, as you said: but I feel more comfortable prepping cash from Malaysia before touching down in Japan, so I probably won't use this feature... But if I do run low on yen in all my (e-)wallets, I can always reload Yen in either Wise or Bigpay.

Yup

Sorry I don't really remember the details... But I remember we were able to use Wise at the ticket machine in Amsterdam, don't remember if it was by pin or wave.

What I remember clearly is that my company cafeteria wave did not work, so my lunch everyday was keying in my pin and slow the queue

Good news, 0 fees

Also interesting to note, I did a conversion yesterday and compared various rates. I found that adding money to my Wise SGD wallet gives me more money (input SGD to receive) than doing a direct transfer to my destination via Wise (input MYR to send). I was comparing for like 15mins+, eventually it even changed rates till it wins Sunway Money lol.

I think it was a result of those transfers locking in the rate the first time I initiated, which happened to be less favourable 15mins later??

🙋‍♀️🙋‍♀️ I just did that 1+ month ago I used it in the last 2 days where my old ezlink card finally became unusable due to low balance. You'll see it aggregated as 1 pair of transaction... there's no itemization/breakdown on each station whatsoever.

here's how it looks like


Note: please prepare a usable credit card in case it doesn't work for you, idk if our cards may be different in any way.

I went to NL late last year and recently, just a week ago
Contactless/wave did not work last year but works nicely this year.

There is a wave limit, I'm guessing it's about 50-60 euros. Beyond that, my wave fails and I have to enter pin. Unfortunately I can't find where to change this setting.

I suggest you to move the currencies that you don't want to touch into Wise Jars. They don't give interest whatsoever, but will ensure no auto-conversion... that said, I tried checking on Wise app, TWD is missing for me too. Quick Google implies it's possible to use Wise in Taiwan, but I'm not sure. Perhaps you should check with Wise support?

Both is fine. Decision is yours - pocketing AUD early on means you trust that the conversion rate is better now than later.

My own experience: I converted prior to travelling to Europe cuz I hardly trust in MYR... throughout my 1.5weeks stay, that turned out both better and worse... in the end I guess it didn't really matter.

Haha that's one more floating factor to think about, Wise says it's dynamic so it's not necessarily more expensive/cheaper.

I'm gonna bet you'll spend more time deciding and trying to compare the rates like I did, in the end it won't matter so much XD

Actually one more thing:
Pre-converting has a high chance of having leftover chump changes. IIRC they will not spend it to zero. For example, if you have 5 AUD left in wallet and a transaction is 10 AUD, it will ignore that 5 and take your other currencies that can cover the full transaction. For me it's fine cuz I would send it to my IBKR account for foreign investment, but if you want it back in MYR then it will be another conversion back (bad). see next posts

This post has been edited by Takudan: Oct 16 2023, 08:42 PM

Ohh that's nice, thanks for correcting me! I'm curious to see how the transaction history looks like... Wonder if you can still find it? Cuz if there's currency conversion to complete the transaction, then you can see the full details in the transaction itself.

How about ATM/Wise charges, if any?

Already did years ago
https://docs.google.com/spreadsheets/d/1DF1...dit?usp=sharing

But to use this, you'll need to do the homework yourself, because rates change all the time.

True, but be warned for countries that do not fully support cashless, or in case card system or internet is down, having cash is always your best bet (diversification). Using Wise at overseas ATM to withdraw cash may have extra fees (some may even be percentage based??) imposed by the overseas bank (to my understanding, that fee is similar to how if you use a card of a different bank to that ATM like CIMB card on Maybank ATM). So consider avoiding unless you know the country/bank system well.

Hey folks, may I know how does this admin fee show in your transaction details? So far I've always preconverted my MYR to the currency I want for my upcoming travels, so every transaction overseas I'm just charged by the same currency, there's no extra. Curious to know how the fees add up and all.

Competitive? Not always. There were times cash exchange at certain shops win Wise rates. I guess it's more of an easy win if compared to local credit cards, which charge like 2%(?) for every overseas transaction, on top of shitty exchange rate, so there I'd say Wise is a decent replacement.

Old fashioned way is always a good alternative because cash is king:
- some places may not support digital/card payment
- you may not have (stable) internet access
- you may lose access to your account (connection/theft, touch wood)
But of course, too much cash on hand also induces anxiety so best is to diversify and put your money in several "pockets".

Never been to Taiwan yet but I make it my personal rule of thumb to have both when travelling to any country, and try not to have too much cash. As Medufsaid , excess in Wise is easily convertible/transferrable for reuse, but cash would mean going back to the shop.

I guess depends on your friend's nationality and/or registered location?

I tried sending yen to fellow Malaysian but cannot, only RM is allowed.