Wise Multi-Currency Card
- Best for: Freelancers, expats, and travelers who earn or hold money in other currencies
- What Sets It Apart: Spends from balances in 40 currencies and converts at the mid-market rate with no markup
- APY: 3.40% on USD balances for those who opt in, not in New York or Alaska
- Features: Free local account details to get paid in USD, EUR, GBP, and more; free digital card for Apple Pay and Google Pay; FDIC insurance only with interest
- Monthly Fee: $0
- Cost: $9 physical card; no Wise ATM fee on $250 a month, then $1.95 plus 1.95% per withdrawal; $1.13 to withdraw to a U.S. bank; $6.11 per incoming USD wire; conversion fee by currency, 0.29% from USD to EUR
- Eligibility: U.S. residents outside Nevada, verified with an SSN and ID, or a foreign ID and proof of address
- Pros: No exchange rate markup; draws from the cheapest balance automatically; digital card right after ordering
- Cons: No FDIC insurance without interest; 2025 CFPB order over ATM fee disclosures; blocked in some countries; low default limits; no rewards
Get the Wise Multi-Currency Card if you spend, hold, or get paid in other currencies. Spending a currency you hold costs nothing. For any other currency, Wise uses the mid-market rate, the one Google shows, and charges about 0.3% to convert dollars to euros or pounds. Skip it if you only travel abroad once or twice a year.
It’s a Visa debit card that spends from a Wise account, which holds money in 40 currencies and also sends money abroad. It suits freelancers paid by foreign clients, expats, and frequent travelers.
Key Features
- $9 for the physical card, no monthly fee, and a free digital card for Apple Pay or Google Pay
- Free spending from a currency you hold, or conversion at the mid-market rate for a fee that varies by currency, such as 0.29% from dollars to euros ($2.89 on $1,000), when you pay in the local currency
- No Wise fee on the first $250 of ATM withdrawals each month, then $1.95 plus 1.95% per withdrawal, and an ATM’s owner may add its own fee
- Local account details for getting paid in dollars, euros, pounds, and other currencies, but $6.11 for each incoming dollar wire
- Optional interest of 3.40% a year on dollar balances, which also brings FDIC insurance up to $250,000 through Wise’s partner bank
Pros
- No markup hidden in the exchange rate
- Each purchase drawn from the balance with the lowest conversion fee
- Local transfers from clients or employers abroad arrive free
- A digital card you can use right after ordering
Cons
- No FDIC insurance unless you opt into interest, which isn’t offered in New York or Alaska
- A 2025 order from the Consumer Financial Protection Bureau found Wise misled U.S. customers about ATM fees and required about $450,000 in refunds
- Not offered to Nevada residents, and U.S. cards don’t work in some countries, such as Kenya and Pakistan
- Low default limits, such as $200 per contactless payment and $2,000 a month online, until you raise them
- No rewards on spending
Freelancers paid in euros or pounds by local transfer receive the full amount and can spend it with no fee. An occasional traveler is better served by a credit card with no foreign transaction fee, which needs no money loaded before the trip.
Learn more about the Wise Multi-Currency Card or see how it compares to the best credit cards with no foreign transaction fees.
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