if my son study in Japan, can i hold the japanese yen in my wise account first and buy more Japanese  Yen when the exchange rate is good , and  then transfer the Yen to my son Japanese bank account  whenever he needs the money?  thanks.

Hi guys,

Would like to know how we can add money inside our wise account using credit card.

Saw the option available but greyed out.

From 1st of April, the fees to send money from SGD, AUD, and GBP will increase by 6% for Malaysian residents.


Why this is happening

Because of the Sales and Service Tax Acts in Malaysia, we need to charge a Sales and Service Tax (SST) whenever you send money from SGD, AUD, and GBP.

This only applies to Malaysian residents, and it will already be included in the fees you pay to make transfers from 1st of April.


Update your address

If you don’t live in Malaysia anymore, update the address in your Wise account to make sure you’re paying the right fees. 

We know that this isn’t great news, and we’re sorry about that. Our mission is to charge our customers as little as possible, and we’ll bring our fees back down as soon as we can.

Hi guys,

Would like to know how we can add money inside our wise account using credit card.

Saw the option available but greyed out.

Fast2 transfer while u can before 1st April.

What's with 1st April?

Will have SST of 6%.

Will have SST of 6%.

Source?

Source?

Official email from Wise that I received today - only on the fee portion, so it's not as bad as it sound, and only when remitting from these currencies to MYR (which I believe CIMB SG->MY still offering better rates).

Still, any more cost is cost, always feel bummed about it, hahaha.

If i am not mistaken, it is only applicable to the fees charged.

For example, recently i transfer sgd1000 back through Wise and the fees charged is sgd5.56

So the new fees would be sgd5.56 x 1.06 = sgd5.89

Only about RM1 increase for every SGD1000 sent so its pretty negligible for me.

They sent email to me. Can check your registered email.

If the fee higher (send lots of money) then SST charges will  incur more also.

Check post 524 of this thread. Hoshiyuu share adi.

Ok, time to test my understanding of this Wise thing.
I'll be relocating to US soon, so my question/statements would be between MY and US.

1. To transfer money from MY to US bank: Get an US bank account. Then go to my "MYR" account in Wise and send money to the US bank account. Pay in MYR using FPX and money reach US account typically within one day. Correct? What's the transfer limit? Been trying to find the info.
Same process for USD to MYR

2. Spend in US with the Wise card: Create a USD account in Wise -> "Add" money to it -> Start spending. How fast does the money show up in the USD account, ready for use? Let's say I see a good deal in a shop. Can I add money to USD account and buy the thing right away?

Any important thing that I missed?

1. using mca is immediate AFAIK... BNM limits myr 30k per day, 300k per month

2. get a proper us bank, link to wise using ach, apply local credit card... spend and get cashback... wise card keep in drawer as backup

If you have an easy way to open a US Bank account via online, do let us know.

From what u gather need at least usd35k to open one as a non US resident. Source:
https://wise.com/us/blog/open-a-us-bank-account-non-resident

op relocating to USA...

1. using mca is immediate AFAIK... BNM limits myr 30k per day, 300k per month

2. get a proper us bank, link to wise using ach, apply local credit card... spend and get cashback... wise card keep in drawer as backup

Thank you for the feedback!
Will be getting a US bank account but the initial few days will need to use Wise card first