Wise keeps your money safe in accounts that are separate from the ones we use to run our business. As interest rates rise, we believe you should benefit from the money you hold with us.
Cashback is available to all customers in New Zealand.
How is cashback calculated?
Wise aims to pay cashback each month based on eligible currencies (NZD, AUD, EUR, GBP and USD) you hold in your Wise account. You agree that the cashback rate is variable and that we may change the rate and/or stop paying cashback at any time. For eligible balances held in Wise accounts in July 2026, Wise paid an annualised cashback rate of:
0.72% for any NZD
1.00% for any USD
2.19% for any AUD
0.51% for any EUR
1.71% for any GBP
For example — if you held a balance of 1,000 AUD and a jar of 2,000 NZD for a whole month, you would have received 1.25 AUD back to your balance and 0.82 NZD into your jar. We would have already deducted 33% to pay the withholding tax for both transactions (for personal customers with registered tax numbers).
When should I expect my cashback?
We process cashback payments monthly, usually in the first half of the month. Cashback payments are for balances held in the previous month.
Cashback is a benefit we provide and isn't an investment return.
How do taxes work with cashback?
Wise Payments New Zealand Limited is required to deduct 45% withholding tax and pay it to the Inland Revenue Department (IRD) before we add cashback to your account.
If you register your New Zealand tax number, the IRD number, on Wise, then we can reduce the withholding tax on future cashback payments to 33% for people and 28% for businesses.
To update your tax details, you can add your IRD number directly to your Wise account here.
For step-by-step instructions on how to check or submit your tax details, please read our tax information guide for New Zealand cashback.
How much do I need to hold to receive cashback?
Based on the cashback rates for July 2026, you would need to hold a minimum average balance on one of these currencies for the whole month to receive cashback.
164 NZD
118 USD
54 AUD
231 EUR
69 GBP
The cashback is based on our calculations of how much you hold in your account each day and for the days there was money in your account.
Who's eligible for cashback?
You won’t receive cashback if:
your Wise account is outside of New Zealand (any days your account was registered outside of NZ won’t be eligible for cashback)
you don't hold any eligible currencies
you remove an eligible currency before cashback is paid
your account is suspended or deactivated
your balance is negative
the pre-tax amount of cashback would be less than 0.10 in an eligible currency
we believe you have breached our Customer Agreement
you've opted out of receiving cashback
How can I opt out of cashback?
Wise has automatically enrolled all customers in New Zealand to receive cashback.
If you’d like to stop receiving cashback, you can opt out at any time.