Wise (Transferwise) Borderless Debit Card - Experiences?

Futuristic

Barclaycard Rewards CC (beats clarity on cash withdrawal fees) + Chase backup is all you need imo instead of trying to over complicate. 

GBP also seems to be doing better than EUR. 

[Deleted User]

Futuristic said:

Barclaycard Rewards CC (beats clarity on cash withdrawal fees) + Chase backup is all you need imo instead of trying to over complicate. 

GBP also seems to be doing better than EUR. 

ATM usage of Barclaycard Rewards or Halifax Clarity will both add cash advance markers to the OP credit file.Prepay and debit cards will not.

GBP is in doldrums as it has been since 2016.

intalex

My experience with using the Wise card for foreign ATM withdrawals:

• 2 separate instances where ATM withdrawal failed (insufficient cash in the ATM)
• Overall daily/monthly limits not used up by failed withdrawals
• However, free monthly allowance of £200 / 2 withdrawals still used up
• No way to "undo" the used up free allowance according to customer service
• Incur unfair charges if you still need cash and exceed remaining free allowance
• Customer services offered fee credit (instead of refund) for the unfair charges
• Fee credit ONLY usable on transfers, not currency conversion or ATM withdrawal
• Customer service repeatedly sidestep accountability to put situation right

Worth thinking about why they would reflect a failed ATM withdrawal correctly on the overall limits but not on the free allowances...

intalex

Contrary to their claimed aim of constantly reducing and eventually abolishing all fees, Wise currency conversion fees keep creeping up... so the benefit of pre-conversion for seamless local ATM withdrawals abroad is diminishing when you compare with some good debit cards out there such as the First Direct mastercard debit card.

There may still be some benefit of pre-conversion at the higher conversion fees if the rate has reached an unusually favourable level and you want to "lock-in" on prediction that the favourable rate won't sustain at the time of travels.