I've got one, but only used it a few times to receive GBP and USD into UK and US Wise accounts. What is the advantage of the Wise debit card over using an ING fee free debit card or a credit card like the Coles Rewards Mastercard both of which don't charge any international currency fees?
You don't have to worry about small transactions and I suspect the exchange rate is better.
What are the exchange rates like? 'no fees' exchanges are usually a con because they hit you with anything from 2% to 4% difference from the spot rate. Can anyone tell me how much they differ?
eg
I just put in $3,000 AUD to convert to UK Pounds use xe.com send money at it was 1650.84 - the same with wise was 1,683.78
The other advantage is you can transfer money to another currency when it's a favourable exchange rate and then spend in that currency.
I currently have 5 currencies on there and if I want to buy a friend something from Amazon UK it automatically takes it out as pounds.
You can also have three virtual cards which is good for online shopping.
A friend just received a large inheritance from the UK and it saved hundreds of pounds compared to banks