Should You Get a Wise Card
Should You Get a Wise Multi-Currency Card?
If you live in New Zealand and travel overseas, or you’ve recently moved here from the UK, a Wise card can be a useful tool. Here’s a straightforward look at what it is, when it makes sense to get one, and how to apply.
What is the Wise Card?
The Wise card is a debit card linked to your Wise multi-currency account. It lets you hold and spend in over 40 currencies, including New Zealand dollars, British pounds, Australian dollars, euros, and US dollars. You can use it anywhere Mastercard or Visa debit cards are accepted, and you can also withdraw cash from ATMs around the world. The big advantage is that Wise uses the real mid-market exchange rate and charges low, transparent fees, which are usually much cheaper than the rates banks apply to foreign transactions.
When is it Worth Having?
The card is most useful when you’re travelling or spending in different currencies. In New Zealand itself you probably won’t use it much, apart from when you first arrive and are still moving money over from the UK. But for travel, it can save a lot of money on every transaction.
If you are heading to Australia, Fiji, or other nearby destinations, you can load the currency you need before you leave and then just pay for meals, hotels, or shopping as you would with a local debit card.
If you are going back to the UK and your UK bank account has been closed, which is increasingly common for non-residents, the Wise card is one of the easiest solutions. You can hold pounds in your Wise account and spend them directly in the UK, including in airports on the way through, without worrying about whether your old bank account is still open.
How to Apply for a Wise Card
If you already have a Wise account, applying for a card takes only a few minutes. You request it through the Wise app, confirm your address, and pay a one-time fee. For New Zealand residents this is about 14 NZ dollars. The card usually arrives in about a week.
Once it arrives, you activate it in the app, load money onto it from your bank account, and you’re ready to spend. A virtual card is also available immediately in the app, so you can use it online or through Apple Pay or Google Pay before the physical card arrives.
Summary
The Wise card is not something you will use much day-to-day in New Zealand, but it is an easy and cost-effective way to manage spending when you travel. It’s especially helpful if you no longer have a bank account in the UK, or if you regularly visit places like Australia or Fiji where traditional bank cards add extra fees. The setup process is simple, the one-off cost is low, and there are no monthly fees.