Personal Finance

What can you use a Wise account for?

Gabriela Peratello

04.09.26 (last updated)

Read time 3 minutes

If you’re considering a multi-currency account from a non-bank digital provider you might have heard of Wise. But what can you actually do with a Wise account? Join us as we explore.

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What is a Wise account?

A Wise account is a multi-currency account you can manage from your phone or computer.

Wise isn’t a bank, but a money services provider (MSB), so you won’t get all the same features you might get from a bank account - but you'll be able to:

Hold and exchange 40+ currencies
Exchange between currencies with the mid-market rate and low fees*
Order a Wise Multi-Currency Card for international spending and cash withdrawals
Receive payments with local account details for currencies including USD, GBP, EUR and more
Send payments to others in 150 countries with fees from 0.23%
Get an overview of your account, and instant transaction notifications, in the Wise app

Get started with Wise

Who can get a Wise multi-currency account?

Wise offers accounts in the US and in many other countries around the world. To open a Wise account, you'll need to register and complete any required verification checks.

If you live in the US, Wise may need your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN) when you make a transfer from USD, order a Wise card, or open USD account details.¹

This is a secure, one-time verification process required under US regulations. Wise does not run a credit check or share your number.¹

If your SSN or ITIN is not accepted, you'll have the option to verify yourself with an ID and selfie. If you're not a US citizen, Wise will ask for your non-US ID.¹

Wise may request additional documents to verify a customer's identity

What are the different ways you can use your Wise account?

1. Wise as your primary account

Wise Accounts have lots of convenient features for managing your money day to day which means you could use Wise as your primary account.

You can get a Wise Multi-Currency Card for easy spending, sending payments to others, paying bills, and for getting cash at an ATM — and you can manage it all from your phone.

But how do you add money to Wise in the first place? You can add money yourself in supported currencies including AUD, CAD, EUR, GBP, NZD, SGD, TRY, and USD² - but maybe you’re wondering: can you use your Wise multi currency account for converting money you earn?

The good news is that in many cases, you can receive your salary to your Wise account in the currency of your choice, then convert to any of the 40+ currencies available to hold with Wise.²

For example, you can receive local payments with account details in currencies including AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD, and USD. You can also receive Swift payments in additional supported currencies.²

2. To hold money in other currencies

With Wise, you can hold 40+ currencies in your account and convert between them with the mid-market exchange rate.²

This can be handy if you manage money across different currencies. For example, you might get paid in USD, send money to a loved one abroad, pay regular foreign currency bills, or travel often.

It can also help if you get paid in foreign currencies. If you're a freelancer with international clients, for example, your clients may be able to pay you using your Wise account details. You can then hold the money in that currency, or convert it to USD or another supported currency when you want to.

3. As a travel account

Another common use of a Wise account is travel. Wise can suit travelers, digital nomads, expats, backpackers, and people taking a working vacation abroad.

You can use your Wise account to save for a trip by adding money and converting it to the currency you need. You can also hold balances in different currencies for a multi-destination trip. When you order a Wise Multi-Currency Card, you can spend from your Wise account and make withdrawals at ATMs in many countries and territories.*

If you're working abroad or getting paid in foreign currencies as a digital nomad, Wise can help there too. You can receive payments in supported currencies, hold the money, and convert it when you need to.

Bottom line: can you use the Wise multi-currency account for converting money you earn?

Yes, you can use your Wise account for converting the money you earn. Just top up your account yourself by ACH, wire or with a Wise Multi-Currency Card - or have your employer deposit your salary directly to Wise with your Wise USD account details.

You’re then free to hold, exchange, send or spend the money anyway you want.

**Source:**

Wise - getting verified in the US - Getting verified in the US
Wise Help - Which currencies can I add, keep and receive in my Wise account?

Source checked on 04.09.2026

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.