Review of using the Wise Card in Singapore - are the benefits worth it?

Wise is a MAS licensed specialist in international payments, currency exchange and multi-currency accounts for personal and business customers. Wise Singapore customers can open a multi-currency account to hold 40+ currencies and send payments to 160+ countries, and apply for a Wise card for convenient spending and withdrawals when travelling.

This Wise card Singapore review covers all you need to know about how to use the Wise card, Wise card fees, and where a Wise virtual card might come in handy too.

What is the Wise (formerly TransferWise) debit card?

The Wise card is a debit card issued on either the Visa or MasterCard network, which you can use to spend anywhere the network is supported, at home, in 150+ countries around the world, and online. You can also make ATM withdrawals when you’re abroad for easy access to holiday cash.

Once you’ve opened your Wise account - which can be done conveniently online or in the Wise app - you can order a physical Wise debit card to be sent by post to your home. You can also use your Wise virtual card instantly online or by adding it to a mobile wallet like Apple Pay.

Get started with Wise!

The Wise card is handy whenever you need to spend or withdraw in a foreign currency as you’ll always get the mid-market exchange rate to convert from SGD to the currency you need, with low fees from 0.33% and no hidden costs to worry about. Use your Wise card as a travel money card, to spend online with foreign retailers, and to get travel cash when abroad without needing to go to a Singapore money changer before you leave.

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

Is using the Wise card safe?

The Wise card is safe to use. It's not connected to your everyday SGD account, adding security when abroad, and there’s no need to carry lots of cash when you travel - just withdraw as you need.

Here are some extra features that make the Wise card safe:

• Freeze and unfreeze your card in the Wise app
• Get instant transaction notifications on your phone
• Review your account in the app to keep on top of your money
• 24/7 anti fraud measures running in the background
• 2-factor authentication on Wise accounts for safety

Learn more about how Wise keeps customers and their money safe, here.

Benefits of Wise card for users in Singapore

Getting a Wise card can help you save money and spend conveniently in foreign currencies - when you shop online and when you travel. Let’s move on in our Wise debit card review, to take a look at some of the key benefits of using Wise for Singapore citizens and residents.

Add SGD to your Wise account and spend in 40+ currencies in 150+ countries

If you’re planning travel or need to spend online in foreign currencies, you can add funds to Wise in SGD and spend in 150+ countries globally.

Add money to Wise by bank transfer, PayNow or using your debit card, and you can convert to any currency you need for spending using the mid-market exchange rate, with low fees from 0.33%. It’s free to spend any currency you hold on your card - which means you skip the foreign transaction fees usually added by banks when you spend abroad using a debit card.

Switching funds to the currency you need in advance is great if you want to see your travel budget before you go - but you don’t need to convert before spending if you don’t want to. That’s because Wise cards have a handy auto-conversion feature which can convert at the point of payment instead - more on that next.

Automatically convert SGD with the mid-market exchange rate - the same rate you see on Google

If you don’t want to convert your funds to foreign currencies before travel you can just use the Wiseauto-conversion feature instead. Your money will be switched to the currency you need at the point of purchase with the mid-market exchange rate and the lowest available fee based on the currency balances you hold.

The mid-market rate is the one you’ll see on Google or when you use an online currency exchange calculator. However, it’s not often the rate used by banks. Instead you’ll usually find either an exchange rate markup is added - or a foreign transaction fee will apply, which can push up costs by around 3% every time you spend in a foreign currency.

Up to 350 SGD free ATM withdrawals globally

Wise cards can’t be used for local ATM withdrawals in Singapore - but they’re a great way to get your travel money when you’re abroad.

Instead of standing in line at a money changer when you want to be preparing for your trip, just pack your Wise card and make an ATM withdrawal on arrival. That means you don’t need to carry lots of cash all at once, which is more secure - and you can make some fee free withdrawals every month too. Be aware some additional charges may occur from independent ATM networks.

Just like card spending, if you’re withdrawing a foreign currency and only have SGD in your account, the auto conversion feature will switch your money using the lowest available fee every time.

Get a virtual card for no extra charge and link with Google or Apple Pay

As soon as you order your Wise card you can activate your Wise virtual card for no additional fee, to start spending even before your physical card arrives in the post.

Activate the Wise virtuall card with a few taps of the Wise app, and add it to a mobile wallet like Apple Pay to make in person payments wherever contactless is accepted. You can also use your virtual card online.

Virtual cards are convenient and because they have different card numbers to your physical card, they’re good for security too. Use your virtual card and then freeze it immediately if you’re concerned the details may be cloned or used fraudulently. You can continue using your physical card as usual because the numbers aren’t the same.

Shop online globally without losing on exchange rates

The Wise card is great for travel but it can also help you save money when you’re shopping online. If you’re picking up bargains on Tao Bao®, or ordering your favourite Korean cosmetics for import, using a Wise card will mean you get the mid-market exchange rate with no foreign transaction fees when you spend.

Using a bank card to spend in foreign currencies can mean you’re hit by a poor exchange rate or a foreign transaction fee of around 3%. That pushes up the final cost without you even realising - using Wise means no foreign transaction fees, and just low conversion costs from 0.33%, instead.

Order your Wise card today! 💳

Wise card fees in Singapore

There are no maintenance or other additional ongoing fees when you use a Wise card - just low transaction charges based on how you use your card.

Here’s a rundown of the key fees you’ll pay to order and use a Wise card from Singapore. You can also get a full fee schedule on the Wise Singapore pricing page.

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 and activate Wise card in Singapore

Finally let’s look at how to order and how to activate your Wise card in Singapore. Here’s a step-by-step guide to ordering a Wise card for people living in Singapore:

1. Open the Wise desktop site or download the Wise app
2. Click Sign up and enter your email, Facebook, Google or Apple ID to register
3. Follow the prompts to add the required personal and contact information and to set a secure password
4. Complete the verification step
5. One your account is verified, tap the Cards tab in the Wise app
6. 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
7. Your Wise card will arrive by post in around 3 working days, and you can start using your Wise virtual card right away

When you get your Wise card you’ll need to activate it for contactless spending. All you need to do is activate the card using the 6-digit code printed on the carrier. If the carrier is lost, misplaced, or didn't come with the code, the card can still be activated if you make a regular card purchase and enter your PIN in the terminal, or use your card in an ATM for a balance enquiry. Check out our help page for more details on card activation.

Getting verified by Wise in Singapore

We mentioned you need to complete a verification step to open your Wise account and order a Wise card. This is a legal requirement and part of how Wise keeps your money safe. It’s also an easy process you can do with nothing more than your phone.

To get verified in Singapore you can use SingPass and MyInfo, or you can choose to manually upload the required documents. If you’re a Singapore citizen or PR all you need is SingPass. Employment pass holders (and holders of similar passes like the Dependent pass or PEP) can use SingPass but will also need to upload a proof of address document.

If you choose a manual verification process you need to upload an image of your passport or NRIC, along with a photo of your proof of address document, which could be a letter from a bank or a government agency like IRAS, or a utility bill for example.

Learn more from our help centre

The Wise card offers convenient ways to spend and make withdrawals in foreign currencies with the mid-market exchange rate and low fees from 0.33%. Use a Wise card when you travel or shop online with foreign retailers, to avoid foreign transaction fees which often push up the costs of spending overseas with a bank card.

Use Wise to hold 40+ currencies, spend in 150+ countries, and get the Wise auto conversion feature to switch to the currency you need with the lowest available fees every time.