Wise Platinum Mastercard
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3.9
15 reviews
Unclaimed
This product has not been claimed by the company yet.
Summary
Wise Platinum Card Review 2024
Wise is a remittance company that strives to help its customers transfer money across borders at the lowest possible cost. It is previously known as TransferWise.
Card Features & Details
1) Currency Exchange
- No. of supported currencies: 53 (AUD, SGD, GBP, HRK, HUF, JPY, MYR, NOK, NZD, PLN, RON, SEK, SGD, TRY, USD and more)
- Currency exchange rate: Mid-market rate
2) Fees & Charges
- Card issuance fee: S$9 (for standard delivery); S$25 (for express delivery)
- Card replacement fee: S$4.32
- Currency conversion fee: From 0.41% (fees vary by currency)
- Overseas transaction fees: From 0.41% (fees vary by currency)
- Overseas withdrawal fee: S$0 (for first 2 withdrawals of up to S$350 per month); S$1.50 per transaction + 1.75% of amount above S$350 withdrawals thereafter
- Card top-up fee:
- Credit card: 2.5%
- Debit card: 2.7%
- PayNow: S$0
- Bank transfers: S$0
3) Card Type:
- Card payment type: Visa
- No. of currencies available for overseas transaction: Transact cashless in more than 150 currencies
4) Card Top-Up
- Cards supported: Credit/Debit cards
- Electronic payment: Apply Pay and Google Pay
- Bank transfers
- Others: PayNow
5) Other Features
- Money remittance: Available
- Electronic payment methods: Apply Pay and Google Pay
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Summary
Wise Platinum Card Review 2024
Wise is a remittance company that strives to help its customers transfer money across borders at the lowest possible cost. It is previously known as TransferWise.
Card Features & Details
1) Currency Exchange
- No. of supported currencies: 53 (AUD, SGD, GBP, HRK, HUF, JPY, MYR, NOK, NZD, PLN, RON, SEK, SGD, TRY, USD and more)
- Currency exchange rate: Mid-market rate
2) Fees & Charges
- Card issuance fee: S$9 (for standard delivery); S$25 (for express delivery)
- Card replacement fee: S$4.32
- Currency conversion fee: From 0.41% (fees vary by currency)
- Overseas transaction fees: From 0.41% (fees vary by currency)
- Overseas withdrawal fee: S$0 (for first 2 withdrawals of up to S$350 per month); S$1.50 per transaction + 1.75% of amount above S$350 withdrawals thereafter
- Card top-up fee:
- Credit card: 2.5%
- Debit card: 2.7%
- PayNow: S$0
- Bank transfers: S$0
3) Card Type:
- Card payment type: Visa
- No. of currencies available for overseas transaction: Transact cashless in more than 150 currencies
4) Card Top-Up
- Cards supported: Credit/Debit cards
- Electronic payment: Apply Pay and Google Pay
- Bank transfers
- Others: PayNow
5) Other Features
- Money remittance: Available
- Electronic payment methods: Apply Pay and Google Pay
Wise Platinum Mastercard
Wise Platinum Mastercard
Mastercard
TYPE
0.35% to 2.22%
CURRENCY EXCHANGE FEES
N/A
MONTHLY FEES
Free for first $350
OVERSEAS ATM WITHDRAWAL FEES
50+
SUPPORTED FIAT CURRENCIES
Reviews (15)
3.9
15 Reviews
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Posted 04 Jan 2022
Purchased
Wise Platinum Mastercard
[Withdrawals] Getting out my funds has been prompt and without hassles. Email and push notifications are also instant.0
What are your thoughts?08 Jul 2020
Purchased
Wise Platinum Mastercard
It is very easy to convert from one currency to another and the transfer through PayNow into the account is very fast and is within 10 minutes!0
What are your thoughts?Posted 23 Oct 2019
I am a Malaysian working in Singapore. Hence it is common for me to exchange my SGD to MYR. Occasionally, I change to other currency when I am on holiday. Throughout my experience of changing SGD to MYR and other currency. I have personally list down a few points that are important to me. 1) Convenience In digital era, I tend to convert them digitally rather than conventional currency exchange shop as it is fast, easy to compare, save queue time and most importantly security and safety. That is why TransferWise suit my needs! 2) Rate and fee In the same day or time, I compare a few ways of changing SGD 1000 to MYR. I have 4 options as per below: a) change at conventional shop at 1 SGD to MYR 3.02. (MYR 3020) b) use remittance service with fee of SGD 10 at better rate MYR 3.03 (MYR 2999.7) c) use TransferWise at fee of SGD 8 but better rate MYR 3.05 (MYR 3025.6) d) use CIMB SG, rate is MYR 3.015 (MYR 3015) Winner is TransferWise, good rate, low fee and top security and convenience. 3) TransferWise offer 40 types of popular currency, that is amazing and very useful 4) Exchange rate alert is very useful for me. As I use a lot of MYR, I don't mind to exchange more MYR when the rate is attractive. With the alert, it help me save money too! 5) With the new debit cards, you are entitled for 5 bank account in 5 different country, that is very cool too. It make you save money and easier if you have transaction over that country no matter it is business or leisure. 6) With comparison chart standby give you peace in mind to ensure that you always get the best rate. Because different amount of exchange also affect the choice available. Hence this chart is useful no matter your amount is low or high to guarantee you always execute the best option 7) Last buy not least, referral reward. For every 3 active referral (transfer of SGD 250), you get SGD 100. That is very good reward as you can refer to your friends with confidence and high successful rate, mainly TransferWise give a lot of advantage to the user that deal with multicurrency. As the world getting smaller and more international, I believe everyone should get one of TransferWise debit card with no doubt!! Hence, referral is kind of easy money :)0
What are your thoughts?Posted 20 Oct 2019
I see Transferwise as the Google/Android of Foreign Currency Exchange and Revolut as Apple. The reason being that Transferwise is very engineering based which is good for techies whereas Revolut focuses on being sleek and easy to use. Not going to try and discuss both here but hope that frames my review of Transferwise. 1. I appreciate that Transferwise is upfront about comparing its rates to others and admitting if it's not the best. Their focus on helping people transfer money with the lowest cost is like Google's "Do not evil" motto, simple and effective. 2. Another thing I find better is that it doesn't have a money transfer limit which Revolut has. Although 9k is a bit much for some, those who trade or buy from overseas brokerages often will find this a relief. And yes, Transferwise bank account details can be used for some overseas brokerages. 3. One cool thing is that unlike Revolut which has "wallets", Transferwise actually opens bank accounts for you overseas in some places! 4. Although Transferwise does not now have digital cards, it's something that they are working towards. I like that they are quite receptive to feedback almost in a nerdy/geeky sorta way (they only have 1 marketing guy for 100 engineers). 5. Lastly, it's a bit hard to measure but just visiting their office, I get a Google-ish vibe and feel that they will last long. I appreciate that they went from 1% fees to 0.1% and are challenging themselves to make it 0.01% or less in the future. I really like how they are upfront about fees and time as well =)0
What are your thoughts?17 Oct 2019
Hi all, I was introduced to TransferWise two to three months back, I mainly use it for transfer funds cross borders. Just last month, I registered as their "beta tester" for debit card and got approved about 2 week later or so only. SO , honestly, I have not use physically the TW debit card yet! 1. The APP UI is simple to use and straightforward. e.g. Adding foreign banks details is simple and straightforward. No rocket science 😉 2. The thing which i like about TW , is you can create virtual foreign bank account (USD, AUD, EUR, GBP, NZ, Polish), which you can set it up to receive funds. This can be quite useful, if u need it. 😉 3. You can set up other foreign currencies (but with no bank account details). This is pretty useful too, if you are planning a trip oversea, e.g. Thailand, you can setup a THAI BAHT account. You can then top up your TW account with SGD and then do a exchange to BAHT!. and Trust me! You wouldnt need to hunt in-country for the best money exchanger giving you the best rates! Simply because, TW offer you VERY competitive FOREX rates! and you can use use the debit card , tap and pay or just sign it off! 😉 4. On above point, unlike credit card, on top of the FOREX rate, there is an additional fee. So it fee on fees! (But i do understand therea a bank with no fee on foreign country usage.) But of course, if you use a MILES cards, you can clock some MILES on foreign spendings . Else, cashback credit cards, you can get some cashback. So it up to individuals though. As on this point, it would be useful for those who arent eligible for a credit card. (Hence I will still give it a thumbs up) 😉 5. (still) On above points, you do not have to exchange with loads of foreign currencies, which potiential you might misplace or being rob overseas (touch wood). In this case, you can just topup the TW debit card and you can "freeze" the card, if you lost it! 😉 6. It bring us to the next point, within the TW APP, you can view the card details, and retrieve the pin. (But currently, we are not able to change the card pin number using the app. and locally the Banks ATM doesnt support TW debit card to change card pin. I hope TW can possibly add this function in their APP or work with local bank ATM (idk maybe ATM5? ) so this is a 😣 7. To top up your TW account is also simple and theres many choices to do so, e.g. , Interbank Transfer, credit/debit card (but u will incurr a few percent of addition charge) 😉 8. I had done EUR fund transfers, there is a TW fee ,It will show you a comparsion with other banks transfer fee . it has the lowest!😉 9. Within the APP, you can view and/or download monthly statement im PDF or CSV formats.😉 In conclusion, 8x😉 VS 1x😣 . There is just many good things about TransferWise , and Im begining to wonder how existing money exchangers will survive .0
What are your thoughts?16 Oct 2019
From a UI and UX perspective, app was easy to use. Spending via the Transferwise Mastercard was also seamless. Upon making a purchase with the card, a notification pops up on the app almost instantly to acknowledge a recent purchase made. Topup to SGD balance was near-instant via Paynow. If topup via other means like credit/debit card, a transaction fee will apply. This is one aspect which Transferwise pales in comparison to Youtrip and Revolut, where fees are waived for topup via credit/debit card. When it comes to FX, the ability to receive 5 foreign currencies through a bank account with details was a huge plus point. One does not need to go through the hassle of opening a bank account in Europe, UK, New Zealand, Australia and U.S. because Transferwise lets you receive these currencies with a respective local bank account in your name. I understand that more currencies/countries will be supported in the future. Don't ask me how this is done but I like to believe its magic. Performing FX within the app is also simple and transparent where fees and exchange rate breakdown is shown in a clear and concise manner. Rates are generally quite competitive and competitors' rates are also displayed alongside Revolut's rates to convince users that Transferwise is the way to go when it comes to FX. Withdrawing balances from Transferwise is also a seamless process, although some fees would be incurred. Withdrawing to a bank account on Revolut does not incur any fees. This is another aspect that Transferwise pales in comparison to Revolut. Another thing I noticed is that Transferwise supports more currencies, especially in the Asia Pacific region which may be more useful for Singaporeans travelling nearby. Some of these currencies include VND, CNY, INR(Indian Rupee), IDR(Indonesia Rupiah), MYR. Other asian currencies like THB, JPY, HKD are available on both Revolut and Transferwise. Overall, Transferwise proves to be a fuss-free, full-featured multi-currency card that has several advantages over Revolut but also lose out in some aspect. Really boils down to which features you can take advantage of to determine which is the one for you. One thing for sure that Transferwise trumps over is Youtrip, which remains a basic one-way multi-currency card where funds can go in but the only way to get it out is by spending because there is no withdrawal function.0
What are your thoughts?29 Jun 2021
Purchased
Wise Platinum Mastercard
Application process is easy and smooth. But I had problem using the paywave function. Contacted Cs and they were responsive0
What are your thoughts?10 Aug 2020
Purchased
Wise Platinum Mastercard
I'm currently on board the platform by having an initial deposit of SGD 30 and paying SGD 10 for the card. Haven't had the opportunity to use them yet, will update as I use the features and the card/app!0
What are your thoughts?07 Aug 2020
Purchased
Wise Platinum Mastercard
The application was smooth on the app, was able to withdraw from overseas ATMs for no extra fee during my trip.0
What are your thoughts?Posted 01 Sep 2023
Purchased
Wise Platinum Mastercard
Wise is a remittance company that strives to help its customers transfer money across borders at the lowest possible cost. It is previously known as TransferWise.0
What are your thoughts?
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How TransferWise Works
TransferWise offers 3 types of products. One time money transfers, Borderless account and TransferWise for Business. A Borderless account supports up to over 40 currencies.
To transfer, simply input the amount desired in TransferWise’s calculator and allow the calculator to calculate the transfer fee.
The creation of a TransferWise account is mandatory to remit money.
There are 3 different types of transfers that allows one to choose where to send money from:
- Low cost transfer - Send money from your bank account
- Fast and easy transfer - Send money from your debit or credit card
- Advanced transfer - Send from your GBP account outside the UK
Borderless Account
The Borderless Account only requires a small fee to convert currencies in your account.
The following is free if you’re interested in having a Borderless Account:
- Account creation
- The holding of over 40 currency balances
- A UK account number and sort code
- A U.S. routing and wiring number
- A European IBAN
- An Australian account and BSB number
- Receiving money in EUR, USD, GBP, AUD & NZD
The following features of a Borderless Account require a fee paid:
- Converting of currencies: 0.35%-1%
- Fixed fee to send money (varies by currency): S$2.30
- Adding money into your account: 0%-0.2%
TransferWise also allows customers to receive money with their services.
TransferWise for Business
TransferWise for Business boasts being 14 times cheaper than PayPal and lists the following features:
- The ability to pay invoices and people abroad
- Receive money with no fees
- Automate work with our API
- Integrate seamlessly with Xero
Contact TransferWise
You can contact TransferWise by logging in and accessing the personalised support system!
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