if you are a new Wise customers, take note of this https://wise.com/help/articles/2810318/can-...account-details

Didnt know that. My US$ Account is still open. So apparently it didnt affect pre-existing accounts.

Am in Japan now. Wise charge me RM52.22 for 1700 yen eq to RM1 = 32.55 yen . Midvalley rate show around 32.42 yen.

Charge 1000 yen to Gxbank RM30.92 eq RM1 = 32.34 yen with cashback eq 32.66 yen.

I just saw Mid Valley's exchange rate at 32.52 at one of the money changers.

This post has been edited by Steve78: Sep 17 2024, 11:37 PM

Is anyone here tried to add Wise card to Alipay app and/or WeChat Pay, and whether it works in China?

Am monitoring Wise vs midvalley quite a number of times this week since am in Japan. Noticed Wise shot up very much better rates than midvalley rates since feds cut rates this few days.

magika feels like wise will charge consistent (although expensive fees, usually) so in times of volatility it can beat midvalley or money match

Need use different strategy , rates good need covert first.

34.xx currently, hopefully it reaches the high of 34.5 or beyond, good time to keep yen if you're planning to visit japan.

works perfectly

For Wise Debit Card, based on my understanding

1. 2 free withdrawal locally, and abroad?
2. Both withdrawal combined should not be > RM1000 per month, else would be charge 1.75%? If abroad we need to make sure amount withdrawn is <=RM1000 after conversion?

Any other fees that I need to take note apart that some ATM would have some additional charge?

Despite the 1.75% extra charge, i think withdrawing money from ATM aboard using Wise may still be slightly cheaper than changing money in Money Changer.

Planning to exchange less cash in money exchange this round and withdraw money using wise.

Today Rate JYP: Mid Valley: RM297 / JYP10,000
Wise: RM291.33 / JYP10,000

Wise having issue now? I tried transferring money but it says technical issue

Withdrawing cash using Wise abroad is subjected to the local bank's policy. Some may impose quite expensive withdrawal fee or corresponding rate based on the amount withdrawn.
Do google for such rate/fee in your target country first before making a decision.

Alternatively, it could be better rate if you use the card to pay instead, provided you have 'secured' a good exchange rate.

Anyone use Wise card in Europe before? Thinking registering for travel use. Load up RM10k and be mainly using it for expenses.

Thought about GX Card, but 1% cashback only until Nov this year. Also GX Card doesn't seem to be accepted everywhere.

Also, worth it to convert some into local Europa currency? or keep all in MYR, and just let it auto convert when making payment?

Yeah no problem,used it in Germany and recently in Norway. Life saver

If you intend to convert your MYR to EUR first, and store your EUR balance and use at a later date, then Wise is a considerable option. But MYR has been appreciating lately though...

If you just want to use MYR balance and make payments in Europe (which it'll auto convert to EUR currency) then in my opinion, although it is true Wise refers to mid market exchange rate, but eventually the total amount you pay in a foreign transaction, which will includes their Service fee, may appear slightly higher than VISA/Mastercard 0% bank fee rate.

If you plan to allocate RM10k for foreign spending, you can consider Touch n Go VISA Debit Card (not to be confused with their normal TnG card, or their NFC card).
That one uses VISA and it has 0% bank fee, but it has annual fee of RM8. But it shouldn't be an issue if you intend to spend a lot in foreign currencies, as the savings you get from 0% bank fee can eventually breakeven with the RM8 annual fee.
Also, there's a one time application fee of RM15, annual fee will be waived for the first year.

For GX Bank, it uses Mastercard's 0% bank fee, and there's no annual fee. Since it is relatively a new bank, they had to use the latest 8 digits BIN number standard for its card number.
It is the future card number standards for Mastercard and VISA, and meant to supersede the current standard of 6-digits BIN number that is in use since long long time ago.
But it is believed that some overseas merchants did not or have not update their POS systems to support 8 digits BIN number from Mastercard/VISA cards due to technical and other reasons, which is what you're referring to "may not be accepted everywhere". Therefore as a result from the end user, the transaction would get declined. I believe this issue won't happen if the merchant system is properly updated to support 8 digits BIN number.
This is more towards the merchant's problem, nothing got to do with the country you visit.

Regardless of which one you go for, the rates of using Wise card would often times still better than convert to cash at a money changer shop.

You can compare the rates yourself here:
https://wise.com/my/pricing/card-fees?sourc...R&targetCcy=EUR
https://www.visa.com.my/support/consumer/tr...calculator.html
https://www.mastercard.us/en-us/personal/ge...t-currency.html

This post has been edited by joshhd: Sep 25 2024, 01:18 PM

This TnG Visa…can it be added into Apple Pay?

If yes can cancel the card and avoid paying annual fee?

Nice, did you convert lump sum into euro/nok? Or just maintain MYR balance?

Also, any initial setup needed for contactless? I read that may need to insert into ATM to activate

i've been on wise for couple of years. i juz left it there for auto convert

iianm, you need to do a first pin entry @ local here, before able to use contactless. but some merchants still need pin entry

Withdrawal at Seven atm( Japan) 20000 yen atm charges 220 yen.