What is the Wise Card
The Wise card is a debit card, not credit — so you spend only money you already have in your Wise account.
It’s tied to a multi‑currency account. You can hold balances in many different currencies and spend in those directly.
It supports payments online, in stores, ATMs, and works in many countries wherever Visa or Mastercard are accepted, depending on your region.
Key Advantages of Wise vs Normal Debit Cards
Currency flexibility You can hold multiple currencies and often spend using the currency you hold → fewer conversion costs. Usually in your home currency. Spending abroad often triggers conversion fees and/or worse exchange rates.
Exchange rates Uses mid‑market (real) exchange rate + transparent small conversion fee if needed. Banks often mark up FX rates or apply hidden margins, plus extra conversion fees.
Fees for foreign transactions / withdrawals Often lower. Wise gives free ATM withdrawals up to a limit per month; charges beyond that are limited or more modest. Many banks charge high fees for withdrawing cash abroad, plus foreign transaction fees.
Transparency & control Wise’s app generally gives real-time notifications, you can freeze/unfreeze the card, see which currency is being used, etc. Feature‑richness depends a lot on the bank; not all provide this level of transparency.
Often no or low maintenance / annual fees Wise often only charges a one‑time fee to issue a physical card; no big annual fee in many cases. Some banks charge annual fees, inactivity fees, or minimum balance fees
Possible Downsides of Wise vs Normal Debit Cards
Card issuance cost or upfront fees: Wise sometimes charges a fee to issue the physical card.
Limits on free withdrawals: Free ATMs up to a certain threshold/frequency; beyond that, fees apply.
Conversion fee when you don’t hold the currency: If you spend in a currency you don’t have in your Wise balances, Wise will convert at mid‑market + a fee. Normal cards also do this, but sometimes with even worse rates/fees.
Acceptance issues: In rare cases some merchants, hotels, or services may not accept foreign‑issued cards, or may treat them differently. Also, virtual cards might be more restricted than physical ones.
Local bank benefits: Traditional bank cards might have benefits in your home country (e.g. for local payments, transfers, local‑bank ATMs) that Wise might not match. Also, bank cards sometimes allow overdrafts or credit features, which Wise does not.
When Wise Makes More Sense
Wise tends to be especially good if:
You travel frequently or live in more than one country.
You shop or pay for things in foreign currencies or with foreign merchants.
You want lower fees for currency conversion and more transparency.
You value having a card that supports multiple currencies and gives you control via app.
When a Normal Bank Debit Card Might Be Better
For purely domestic usage, where everything is in your home currency and you don’t incur foreign fees — a normal card might already do the job.
If your bank offers perks (cashback, rewards, overdraft protections) that Wise doesn’t.
If you need features specific to local banking infrastructure (e.g. certain local regulatory / identification or banking network integrations).