THIS THREAD IS ABOUT USING THE WISE VISA CARD AS A CONVENIENT AND LOW COST PAYMENT METHOD DURING OVERSEAS TRAVELS.

Edit: moderators have decided to move my thread on using the Wise Visa card as travel money here and merged with the old Wise financial thread.

I think most people knows about this product. It provides a "cheap" way of exchange of funds. It also allows a way to have multiple accounts in different currencies and when tied to a wise visa card, allows spendings in countries using the local currencies you may have.

I discovered however, the user has no control over which currency it pays out from if you do not have funds in that currency.

Recently I went to Scandinavia, and each of these countries have their own currencies. I loaded some NOk. I also have MYR smd jpy. Paying in Norway, it was fine. Paying in the other nordic countries, it converted from NOK. The problem starts then the NOK account ran out. Instead of taking from MYR, it converted from jpy. I have no control over which currency it takes from.

The jpy is meant to lock in the low rate at the moment for future travels to Japan. I have no means of "ring fencing" the jpy account.

Also, after double conversion, the FX cost isn't that much better than Bigpay or even just using a cc.

My conclusion is. It's an ok system if you regularly travel to a particular country and worth maintaining a balance in that currency.

For the occasional travels to any country you are unlikely to visit again, it's probably not useful.

And they make money from the multiple FX conversions, even if the margins charged are low. Plus make money from monies lying dormant.

Anyone has a different experience?

This post has been edited by limeuu: Jun 18 2024, 01:50 PM

Ah. Now I see that feature. Should have done that earlier!

Ah, that's where the wise thread is. I was looking for it under the CC/DC section.

Thanks for the info. That solves the problem of how to force wise to use a particular currency.

Someone reported this thread as in the wrong section. I think it should be here, as a wise visa card payment topic, for those whio intend to use as "travel money".

Those looking at wise as a means of transferring money internationally can use the other thread.

In App too. I just "jar" up my jpy.

"here" as in the CC forum, or general Finance Forum?

Someone has moved my thread and merged into Wise in the general finance forum.

Can the somebody move the entire thread to the CC forum?

I converted done more MYR to jpy. Cannot convert from external account to the jar, can only convert from MYR account.

So I converted into the open jpy account. Now I can't find a way to transfer the yen from the open account to the jar.

Anyone can help?

Yes I know. I want to transfer my jpy from the open account to the jar. There appears no option to.

I suppose I can transfer the jar money back to the open account, close the jar, reopen another jar and transfer all the jpy over.

JPY.

Anyway, problem solved. After converting to jpy in the open account, opening the jar then reveals an option to add to the jar from the open account (not there when there was no money in the open jpy account).

haven't been to Japan yet after converting, just leveraging on the low JPY at the moment. But can use the visa card to pay, and can withdraw from ATM free once up to RM1000.

Yes, convert into the open JPY account, open jar, and you will see an option to move the JPY into the jar.

Don't think you can do that, but can try.