Wise (formerly TransferWise) started as an international money transfer service and expanded into a multi-currency account with a debit card. It has genuine advantages for certain travellers — but it is not automatically the best choice for every holiday.
Wise Card — Quick Facts (2026)
| Feature | Details |
|---|---|
| Card type | Prepaid Mastercard debit |
| Account type | Multi-currency (40+ currencies) |
| Foreign transaction fee | 0% (if correct currency held) |
| Conversion fee | 0.35–2% (depends on currency pair) |
| Free ATM withdrawals | 2 per month, up to £200 total |
| ATM fee above limit | £0.50 + 1.75% |
| Monthly fee | £0 (card delivery: £7 one-off) |
| FCA regulated | Yes (electronic money institution) |
| FSCS protection | No (safeguarded — equivalent protection) |
| Physical card | Yes (delivery fee) |
| Virtual card | Yes (instant) |
How the Exchange Rate Works
Wise uses the mid-market exchange rate — the rate you see on Google or XE.com. Traditional banks and most bureaux de change add a spread (typically 3–5%) on top of this rate. Wise adds a small transparent conversion fee (typically 0.35–1.5%), making the total cost significantly lower than most alternatives.
Example — Converting £500 to euros:
- High street bank: €565 (3% spread, no visible fee)
- Wise at 0.5% fee: €592 (transparent; you see exactly what you pay)
- Real rate: £500 = approximately €598
Wise gets you significantly closer to the real rate.
Where Wise Excels
Multi-currency travel: If your trip involves spending in two or more currencies — say euros in France then Swiss francs in Switzerland — you can hold both currencies in your Wise account and spend from the right one automatically.
Receiving international payments: Wise account numbers for major currencies (EUR, USD, AUD, etc.) allow you to receive payments in those currencies without your sender paying international transfer fees. Useful for freelancers or people with overseas income.
Pre-loading when rates are good: You can load euros (or another currency) in advance when you see a favourable rate — effectively locking in a rate for your trip.
Where Wise Is Not the Best Choice
ATM-heavy travel: Wise’s free ATM limit (£200/month across 2 withdrawals) is lower than Starling’s (unlimited free withdrawals). For destinations requiring frequent cash (Southeast Asia, for example), Starling wins on ATM costs.
Simplicity: For a single-currency holiday where you just want to tap and pay, Starling or Monzo are simpler with no conversion complexity.
FSCS familiarity: Wise is safeguarded (not FSCS-insured). For people who prefer full FSCS protection, Starling or Chase are traditional banks with £85,000 FSCS coverage.
How to Set Up a Wise Account
Opening a Wise account takes around 10 minutes:
- Download the Wise app (iOS or Android) or visit wise.com
- Create an account with your email address
- Verify your identity — upload a photo of your passport or driving licence, plus a selfie. Verification typically takes a few minutes to a few hours.
- Add funds — transfer from your UK bank account via bank transfer or debit card. Bank transfers take 1–2 working days; debit card deposits are instant.
- Order your physical card — costs £7, typically arrives within 5–7 working days. A virtual card is available immediately in the app.
Once funded, you can hold and convert between 40+ currencies from the account. The card draws from whichever currency balance is appropriate for your transaction — or converts automatically if you don’t hold the local currency.
Wise for International Transfers
Wise is not just a travel card — it is one of the best services available for sending money internationally. If you need to transfer money to a foreign bank account (sending money to family abroad, paying overseas suppliers, transferring from a foreign bank to the UK), Wise charges lower fees and offers better exchange rates than almost all banks.
| Transfer | Wise fee (typical) | UK high-street bank fee |
|---|---|---|
| £1,000 to eurozone bank | £3–£6 (0.35–0.5%) | £10–£25 + poor rate |
| £1,000 to US bank | £5–£10 | £15–£30 |
| £5,000 to eurozone | £15–£25 | £25–£50 + poor rate |
For regular international transfers, Wise often saves £10–£40 per £1,000 sent compared to bank wire transfers. This is separate from the travel card functionality but makes Wise an even stronger proposition for people with international financial activity.
Wise vs Revolut
Wise and Revolut are often compared as alternatives. Key differences:
| Feature | Wise | Revolut |
|---|---|---|
| Primary strength | Multi-currency accounts; international transfers | Features and flexibility; cryptocurrency |
| Exchange rate | Mid-market always | Mid-market weekdays; +1% weekends (free plan) |
| ATM free limit | 2 withdrawals to £200/month | £200/month (free plan) |
| International transfers | Core product; excellent rates | Available; rates slightly higher than Wise |
| Regulatory status | FCA-regulated EMI | FCA-regulated EMI |
| FSCS protection | No (safeguarded) | No (safeguarded) |
| Currency accounts | 40+ currencies | 36+ currencies |
Wise is better for: International money transfers, holding multiple currencies, transparency of fees. Revolut is better for: Overall app features, cryptocurrency, budgeting tools, insurance add-ons.
For pure travel use, both are competitive. For international transfers and multi-currency accounts, Wise has the edge.
Customer Support
Wise customer support is available in-app and via email, with a live chat option for account issues. Support quality is generally good for routine queries, with response times of a few hours for non-urgent issues.
For urgent issues (card blocked, transaction dispute), in-app chat is the fastest route. Wise does not have a UK phone number for general support — this is worth noting if you prefer phone-based support. Starling and Monzo offer in-app chat with fast response times; Chase offers phone support.
Verdict
Wise is an excellent travel card for frequent or multi-currency travellers. For a typical single-destination UK holiday-maker, Starling gives a simpler experience with more generous ATM terms. The right choice depends on your travel pattern.
For the full comparison, see Best Travel Money Cards UK.