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If you’re a Malaysian citizen or resident and have plans to travel to Southeast Asia or beyond, you might be interested in how using a Wise card abroad can make spending cheap and convenient. Whether you're simply popping to Singapore for a weekend or planning a trip of a lifetime to Australia, the US or Europe, pack the Wise card to make your ringgit go further while you’re away.
Read on for all you need to know about how to use a Wise card abroad, including features, fees and how to order.
Let’s start with the beginning - what are the Wise card features that make it good for travel use?
- Add money in MYR and convert to the currency you need in advance - or have the card’s auto conversion feature do it for you
- 40+ supported currencies, for spending in 150+ countries
- Both physical and virtual cards available for security and convenience
- Some fee free international ATM withdrawals every month and low fees after that
- No foreign transaction fees, mid-market exchange rate, no monthly or annual charges and no minimum balance
Yes. Wise is regulated by Malaysian authorities, and comes with security features as standard. Here’s a quick look at what you can expect:
- 2 factor authentication on all Wise accounts
- Instant transaction notifications in the Wise app
- Freeze or unfreeze your card instantly if you lose or misplace it
- Digital cards available for added security
- 24/7 anti fraud measures in place
- No need to carry travel money - just make withdrawals when you need to
You can use your Wise card for regular and contactless payments, and cash withdrawals, anywhere the network is supported - in over 150 countries. Using your Wise card is very similar to using a bank card - just tap to pay, or insert your card into the point of sale terminal or ATM, and enter your PIN.
The best thing about using your Wise card abroad is that you don’t need to convert MYR to the currency of your destination in advance. That means no queuing at a money changer, and no guess work on the budget you need for advance exchange. Just top up your card in MYR and let the card’s auto conversion feature switch to the currency you need at the point of payment. You’ll always get the mid-market exchange rate and the lowest available fee based on the currency needed.
You can make some fee free ATM withdrawals with your Wise card, in Malaysia or abroad, every month¹. You’ll get up to 2 withdrawals to the value of 1,000 MYR/month free - with fees of 1.75% + 5 MYR after that.
If you’re withdrawing overseas and don’t have the currency you need in your account, the auto conversion feature will switch from your Wise balance at the point of withdrawal. The money you need will be deducted from the balance you hold that incurs the lowest available fees, and you’ll get the mid-market rate with no foreign transaction fees to worry about.
You can use your Wise card to spend in 150+ countries, wherever the network is supported - just look out for the logo at the checkout or displayed on any ATM. 40+ currencies are available for spending - but it helps to know that there are also a few unsupported countries around the world.
Often when the Wise card can’t be used in a specific country, it’s as a result of local or global sanctions. The unsupported countries list does change from time to time but you can get the latest from Wise’s help centre.
Before you order your Wise Malaysia card for your next trip, it’s important to understand the fees and limits that apply. While there are no ongoing charges related to using your Wise card at home and abroad, there are some transaction fees based on account usage.
Here are the most important Wise card fees - you can get a full rundown on the Wise Malaysia pricing page.
|Service||Wise card Malaysia fee²|
|Order a Wise card||13.7 MYR|
|Wise digital card||No fee|
|Monthly fee/annual fee||No fee|
|Spend a currency you hold||No fee|
|Currency conversion when spending a currency you don’t hold||From 0.43%|
|International ATM withdrawals||2 withdrawals to the value of 1,000 MYR/month free; 1.75% + 5 MYR after that|
|Replace a lost or damaged Wise card||13.7 MYR|
|Replace an expiring Wise card||No fee|
There are also some spending limits which are set to ensure that customers’ accounts and cards are kept safe. You can often adjust the limit in the Wise app to suit your preferences. Here are the Wise card spending limits for Malaysia.
|Transaction type||Single transaction limit||Daily limit||Monthly limit|
|Chip and PIN or mobile wallet like Apple Pay or Google Pay||Default: 14,000 MYR Maximum: 57,000 MYR||Default: 17,000 MYR Maximum: 57,000 MYR||Default: 57,000 MYR Maximum: 170,000 MYR|
|ATM withdrawal||Default: 5,700 MYR Maximum: 5,700 MYR||Default: 8,600 MYR Maximum: 8,600 MYR||Default: 17,000 MYR Maximum: 23,000 MYR|
|Contactless||Default: 2,900 MYR Maximum: 2,900 MYR||Default: 2,900 MYR Maximum: 5,700 MYR||Default: 23,000 MYR Maximum: 23,000 MYR|
|Magnetic stripe||Default: 1,700 MYR Maximum: 6,900 MYR||Default: 2,300 MYR Maximum: 6,900 MYR||Default: 6,900 MYR Maximum: 34,000 MYR|
|Online purchase||Default: 5,700 MYR Maximum: 57,000 MYR||Default: 5,700 MYR Maximum: 57,000 MYR||Default: 11,500 MYR Maximum: 170,000 MYR|
All information correct at the time of writing - 21st July, 2023.
Ordering a Wise card is easy and can be done with just your phone or laptop. Here’s how to order a Wise Malaysia card, step by step:
- Open the Wise desktop site or download the Wise app
- Click Sign up and enter your email, Facebook, Google or Apple ID to register
- Follow the prompts to add the required personal and contact information and to set a secure password
- Complete the verification step
- One your account is verified, tap the Cards tab in the Wise app
- Select the option to order your Wise debit card - you’ll need to add a currency balance to Wise and pay a one-time fee
- Your Wise card will arrive by post within 14 working days, and you can start using your Wise digital card right away
You’ll need to complete a verification step to keep your account safe, and to comply with law³. This involved confirming your nationality and occupation, and uploading a document or two. Exactly what’s needed depends on the situation. If you’re a Malaysian national you can use a passport or MyKad. Foreigners must use a passport, and will need to upload a valid visa document. You’ll also be asked to upload a selfie to show your image matches the document used.
Using a Wise Malaysia card overseas can make it easy and cheap to spend in foreign currencies. It’s also simple to get your account set up and there are no monthly fees or minimum balance requirements, so you can just use your card as and when you need it.
Get Wise for your next trip and see how much you can save!
- Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks.
- Wise card fees
- Wise - getting verified
Sources checked on 23/07/2023
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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