Review of Wise card benefits in Malaysia - why is it worth it?

Wise (formerly TransferWise) offers fast, secure and low cost payments in 40+ currencies, to 70+ countries. And since 2021, Malaysian customers can also open a smart digital multi-currency Wise account, and order a Wise debit card for easy spending and withdrawals.

But what exactly is the Wise card? What are the features and benefits - and what are the card fees you’ll need to know about? Join us on this full Wise card Malaysia review as we walk through all you need to know.

What is the Wise card?

The Wise card is a Visa debit card which is linked to a multi-currency Wise account. You’ll be able to order a physical Wise card to make in person payments and ATM withdrawals, and also generate an instant virtual card you can use for online spending.

Wise Visa debit cards can be used around the world for spending and withdrawals in 40+ currencies, with no foreign transaction fees and no account maintenance charges. There’s no annual fee to worry about either - you just pay a low, one time charge to order your card, with no ongoing fees after that. Easy.

Is the Wise card safe?

Wise card is safe to use, and comes with plenty of smart security features so you can keep track of your money on the move. Using a card for spending and withdrawals when you’re travelling is far safer than carrying large amounts of cash - and having a separate account for your foreign currency spending can also boost security and help you manage your holiday budget more easily.

Here are some of the Wise card security features you can expect:

• Wise accounts offer 2 factor authentication
• Freeze and unfreeze your card in the Wise app
• Add your card to Google and Apple Pay
• Get instant transaction notifications so you can keep track of spending
• Generate virtual cards for extra security when shopping online with new merchants
• Wise operates 24/7 manual and automatic anti-fraud processes to spot and prevent suspicious transactions

Learn more about why Wise is safe to use in Malaysia.

How to use the Wise card abroad and in Malaysia - benefits

Let’s take a look at the Wise card benefits to help you decide if it’s a good option for you.

Spend in 150+ countries in 40+ currencies

Wise accounts can be used to hold 40+ currencies, allowing you to spend using your Wise card in 150+ countries around the world. In fact, you can use your Wise card anywhere you see the Visa symbol, including millions of merchants and ATMs globally. For extra convenience, you can add your Wise card to Google and Apple Pay for easy contactless payments

Add MYR to your account and convert with the mid-market exchange rate

Top up your Wise account with ringgit and allow the Wise card’s smart auto-conversion feature to switch to the currency you need for spending, using the mid-market exchange rate and low fees from 0.43%¹. You’ll always get the lowest available fee, with no need to worry about converting to the currency or currencies you need for spending ahead of time.

But if you want to take advantage of exchange rate fluctuations, use the rate tracker built into the Wise app to get notified when your desired currency is at its ideal price.

Wondering which is cheaper in Malaysia: BigPay or Wise? Learn more from our card comparison 👀

Withdraw cash from ATMs free up to 1000 MYR a month

Use your Wise card to make ATM withdrawals wherever Visa cards are accepted. You’ll be able to withdraw up to 1,000 MYR every month for no fee⁴, with just a low transparent charge for withdrawals above that amount. There’s no foreign transaction fees, and no cash advance charge, which can mean you save significantly compared to using your normal bank card for withdrawals.

Shop online internationally

Wise cards offer great value whenever you spend in a foreign currency - including when you shop online with international merchants. Use your Wise physical or virtual card conveniently, and get the mid-market exchange rate with no foreign transaction fee, every time. It’s completely free to spend any currency you already hold in your account - and if you need to switch currencies you can let the card handle that for you automatically, with low fees from 0.43%.

Order your Wise card today! 💳

Wise card fees in Malaysia

There’s no charge to open a personal Wise account, and no ongoing or maintenance costs to worry about either. Once you’ve registered your Wise account online or in the Wise app you can order your Wise card for a low, one time fee and start using your virtual Wise card right away.

Here are the Wise card fees for Malaysia:

Service	Wise card Malaysia fee²
Order a physical card	13.7 MYR
Generate a virtual card	Free when you order a physical card
Replace an expiring card	Free
Spend with your card	Free to spend any currency you hold Currency conversion uses the mid-market exchange rate, with low fees from 0.43%
ATM withdrawals	2 withdrawals a month, to the value of 1,000 MYR - no fee 5 MYR + 1.75% of the withdrawal amount after that

Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

How to apply for a Wise card in Malaysia

Ready to get started? Here’s how to open a Wise account and order your Wise Visa debit card in Malaysia:

1. Download the Wise app or head to the Wise desktop site
2. Click ‘Open an account’ and enter your email address - you can also register using a Facebook, Google or Apple ID
3. Follow the prompts to enter your personal and contact information
4. Upload an image of your ID documents - passport or MyKad, plus a valid pass or visa if you’re not a Malaysian citizen³
5. Once your account is verified you can add your first balance in the currency of your choice
6. Select the Card tab and follow the prompts to order your Wise card

You’ll be able to view your card details instantly, and use your virtual card for mobile and online payments right away! Your physical card will arrive in the post within 2 weeks.

Get a Wise card in Malaysia 💳

---

So there you have it - our full Wise card Malaysia review. You can order a Wise card easily online or in the Wise app, with a low one time fee and no ongoing charges or minimum balance to worry about. Get your virtual card instantly and link it to Google or Apple Pay - and your physical card will arrive in the post in just a couple of weeks.

Once you’ve got your card set up you can manage your account on the move with the Wise app, add MYR for spending in 40+ currencies with the Wise auto convert feature, make cash withdrawals and more. And best of all, whenever you use your Wise card to spend in a foreign currency you’ll get the mid-market exchange rate, and low, transparent fees that can beat the banks.

---

Sources:

1. Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information
2. Wise card Malaysia fees
3. Wise Malaysia - getting verified
4. Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks.

Sources checked on 06/04/2023