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i tried this. turns out business account not supported in Malaysia. They dont prevent you from opening 1 though... you will go through all the hassle just to close the account later

They said:

We are reaching out to you about your business account.

Please note that we are not able to support Wise account (multi currency balance) feature for companies in Malaysia just yet.

I think can use business account for TRANSFERS only. Just cannot hold any money inside your wise account...

There's a fee but yeah you can use VISA or Mastercard credit cards to fund your account in foreign currencies. The fees are pretty high though, basically you're paying the cost of it and then some. 3.89% charge to topup $1000. It's 0.41% to topup 1000 EURO. 2.8% for 1000 SGD which is slightly more expensive than using a debit card. It seems like it's dependent on the currency options. For RM there's only bank transfer available.

That's for free non business account. Not sure about business account.

Fees for Wise Visa Prepaid Card:
https://wise.com/my/multi-currency-account/...account-pricing
So, is it true that most Wise users here have no issue paying RM 13.70, to get Wise Visa Prepaid Card?

Is wise better or merchantrade ? Both seems able to hold multi currency also.

$9 in US

Thank you for your respective replies, dwRK, ZeneticX and Gwynbleidd.

Yes, paying RM 13.70 fee for Wise Visa Prepaid Card is not a big issue, as long as we can get reasonable benefits from using the card.
If we transfer our money from our savings accounts in foreign country to Wise Multi Currency Account, and then spend the money via Wise Visa Prepaid Card (swiping the card on credit card terminals, or paying for online transactions), income tax is till being imposed on our money, right?

Thank you for sharing your opinion.

For us to use the Wise Multi Currency Account, we would need documentation, to prove that the money transferred into Wise Multi Currency Account (regardless of any currency) is not income. Otherwise, it is costly to use Wise Multi Currency Account in year 2022, because income tax is being imposed on our money.

In other words, we can say that our Wise Multi Currency Account is domiciled in Malaysia, since we opened our Wise Multi Currency Account as Malaysian tax residents.

Sigh, it is more difficult for us.

the max zero-charge MYR withdraw only rm2000/month?

if i would like to hedge myr depreciation, by topping up inside then convert to USD, later say USD/MYR increase, convert back to MYR n wanna withdraw as MYR ma kena charged liao

like this also considered "income" ah?
also max MYR can hold in wise is just rm20k?

i see, but for other currency like USD & SGD, did they state the max amount to hold in account?

hmmm, means if more than rm20k, for normies better save in cimb sg... or hedge/invest in ibkr

I noticed we can change the billing address of the card including the country

Just got my WISE card Ready to keep it in the drawer 

I was just about to ask this regarding 4 pins here and 6 pins overseas and vice-versa. Thanks for the info!

Does anyone know when we use the Wise debit card to withdraw cash, which bank's ATM allow for zero charge? If there is a charge, how much is it?

Thank you.

This is WISE charge but I think usually bank's ATM have some kind of charge to use them as well. I'm unsure of the amount

From that link,...
If you got your debit card in Japan, Singapore or Canada you won’t be able to use it to make ATM withdrawals locally.

Did not include malaysia? 🤔🤔
Or not yet update the info yet? 😳

From the debit card pricing
https://wise.com/my/multi-currency-account/pricing

Pretty steep if you withdraw > rm 1000 per month @ 1.75%. Better to just remit to local bank account and withdraw there.

Honestly not really. Wise main function is still a multi currency platform for you to store limited oversea currency and transfer them to offshore account / spend with limited time overseas

I withdraw just to activate the card and get that RM100 that I transfered during card sign up in cash

I applied for the card without topping up rm101, will i get the card?

I mean the app says I will get it by 27th of January