I registered account in Wallex but the exchange rate is lower than Wise although fees are slightly cheaper, Wise seems to be better. Thanks by the way for your help. Finished setting up my Wise account but realised local transfers are charged RM 1.06  but I don't need the Wise debit card. Is there anything that could be paid using Wise from the app? Like TNG eWallet?

I have a business trip to Europe soon, so I've just gotten my Wise card, paid RM13.70 and looks like it will be delivered to me in 10 working days.

...but I'm still trying to understand how the borderless account works...

Now I also compared several rates, and to my surprise, the cash option is way cheaper, assuming the advertised rates on their websites are true and without surcharge:


Another point to note is that Wise has the shittiest rate if it's a small amount (100 or below). So here are my questions, assuming the same rate holds:
1. What if I deposit into my EUR account at one go, and then I swipe Wise card when in Europe? Please confirm my example:
- load 218 EUR (pay slightly less than RM1000)
- swiped 10 transactions with Wise card, each at 21.48 EUR > my EUR account is now left with 3.2 EUR

2. What if I deposit into my MYR account, and do the same? Please confirm example:
- load RM 1000
- swiped 10 transactions with Wise card, each at 21.48 EUR > my MYR account is deducted RM 100 each, resulting in 0 money left.

If my examples are correct, then I'm planning to load my EUR account before travelling, then I have the freedom to either swipe my card directly, or just ATM to get some cash if I don't have enough.

Now another follow up question: suppose I have excess EUR after the trip - will I be allowed to deposit to my IBKR broker via this EUR account? Note: I also see that it is possible to get IBAN/SWIFT code or something if I deposited some money first... does that give me a proper "bank account number" that the IBKR can flag as an account I own, rather than 3rd party?

Any way to transfer from Philippines to Malaysia?

only if you have the physical Wise debit card, then you can withdraw from ATMs.

Malaysia-issued Wise debit card rules on withdrawal:



There is additional info you need to check here: https://wise.com/help/articles/2935769/how-...o-withdraw-cash

Wow...2%?? I don't remember it this high...previously i used it to transfer USD and SGD overseas. Kanasai.

This one?

https://www.merchantrademoney.com/fees/

Does it also works as a debit card like WISE?

Says here only 1% transaction fee...big difference!

Careful with using Wise, they deactivated me out of nowhere. Accidentally top up around 5.2k USD cause I was heading to Dubai in a very short notice, no problem spending there but got deactivated once i reached Malaysia. Somemore left around 4k USD ++ , have to deal with their bullshit

once I have RM40k when I travel to Rwanda on my Wise card. They just send email inform me that I have exceed limit.

there is no way they can deactivate the account without informing the account holder.

there must be ada udang di sebalik batu

how long have you been using wise? wonder is there any alternatives like wise

I am wondering whether to set up WISE to transfer RM to SG$ or set up CIMB SG. WISE have better rates or CIMB MY to CIMB SG for RM to SG$ ?

Thanks

TNG Visa.

what's the benefit over personal account?

individual can apply?

Hi all, reading through many messages, most of you make use of Wise for account transfer purposes..any idea if it's worth using it for travelling purposes? i.e. making it as a debit card for payment in overseas. Or actually taking foreign cash is a better option?

why 6k?

What's the source of your info? I've had no difficulties in withdrawing more than 6k.

is using WISE to pay for overseas vacation, a better idea ?

How does it work?

Your parents can use bank transfer. You keep the wise app cause you need to check your transaction and spending. From your wise app you can see there’s a bank account number for JP Morgan chase. Ask your parents to bank in to that account number and money will reflect in your wise app. If you didn’t convert from MYR to GBP, the app will convert for you when you use the card.

Why not consider using GXbank debit card? I was told the rates are better than Wise and you get 1% cash back on all your spending.

Thanks for the reply. From my understanding, my parents bank in JP Morgan MYR, then my Wise app will see MYR added, then I convert to GBP within the app itself OR I can straight away buy things with MYR in UK using the card right

1. Are there bank charges for MYR deposit into JP Morgan account?
2. I assume depending on exchange rate, converting in Wise the MYR received to GBP may or may not be better than directly spending MYR in UK via Wise auto conversion?

GX bank seems interesting, will check it out. Thanks again.