Keeping Money In Wise.

[NoshowJones]

I know that Wise is not a bank. but I also know that you can keep GBPs in it. If I am in the UK can I transfer any or all of these GBPs in to my UK bank.

If so, will it be at the rate it was when I deposited it, or the rate it is when I withdraw it?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[foreverlomsak]

Yes there is an option to transfer to UK bank using Sort Code / Account no (I haven't used it yet but it exists)

 

If you hold GBP you can transfer GBP (no exchange rates involved) but there is a fee for the transaction.

[Upnotover]

The fee used to be £0.32 per transaction but I had a message from Wise that as of 7 September 2021 you now get 50 free GBP transactions a month.  Haven't used it as of yet though.

[Gottfrid]

Actually, I don´t think there is any rate change from GBP to GBP. I f you are aware of one, please do inform me.

[treetops]

43 minutes ago, Gottfrid said:

Actually, I don´t think there is any rate change from GBP to GBP. I f you are aware of one, please do inform me.

Easy.  Today's rate is 1:1 and I've a feeling tomorrow's will be the same.

[Chivas]

People should check before steaming in.....

[treetops]

16 hours ago, Chivas said:

People should check before steaming in.....

Thats a fee, nothing to do with exchange rates. ????

[Chivas]

3 hours ago, treetops said:

Thats a fee, nothing to do with exchange rates. ????

Dear oh dear fella.....dont give up your day job

[lkn]

I don’t know about the 50 free GBP transactions per month, but you can get a free debit card associated with your account.

 

This allows you to either withdraw via an ATM, although there is monthly limit, or, you can open an account with Revolut and top-up the Revolut account using your Wise debit card, this is free of charge, and from Revolut, you can transfer to another bank account, also free of charge.

 

Not sure how Revolut can charge debit cards without paying a fee, but I have seen a few other institutions also provide free deposits via VISA/Mastercard.

[mrwebb8825]

I thought the legal currency in the UK was set to change to match the national language of Farsi. 

[Mutt Daeng]

5 hours ago, lkn said:

I don’t know about the 50 free GBP transactions per month, but you can get a free debit card associated with your account.

 

This allows you to either withdraw via an ATM, although there is monthly limit, or, you can open an account with Revolut and top-up the Revolut account using your Wise debit card, this is free of charge, and from Revolut, you can transfer to another bank account, also free of charge.

 

Not sure how Revolut can charge debit cards without paying a fee, but I have seen a few other institutions also provide free deposits via VISA/Mastercard.

You can't get a Wise Debit Card if your registered address is in Thailand.

 

 

Edited January 7, 2022 by Mutt Daeng
added border to image

[sandyf]

5 hours ago, lkn said:

I don’t know about the 50 free GBP transactions per month, but you can get a free debit card associated with your account.

When did the remove the fee for the debit card, paid £5 for mine about a year ago.

[Mario Cosmopolite]

11 minutes ago, sandyf said:

When did the remove the fee for the debit card, paid £5 for mine about a year ago.

I don't know when they removed the fee, but it is now free if you accept standard postage or at a cost if you want it sent DHL. (This is not experience for Thailand based as I got mine elsewhere, but they will send card to an address/country other than your registered address)

[NoshowJones]

26 minutes ago, sandyf said:

When did the remove the fee for the debit card, paid £5 for mine about a year ago.

Did you get your Wise debit card while living in Thailand?

[NoshowJones]

6 hours ago, lkn said:

I don’t know about the 50 free GBP transactions per month, but you can get a free debit card associated with your account.

 

This allows you to either withdraw via an ATM, although there is monthly limit, or, you can open an account with Revolut and top-up the Revolut account using your Wise debit card, this is free of charge, and from Revolut, you can transfer to another bank account, also free of charge.

 

Not sure how Revolut can charge debit cards without paying a fee, but I have seen a few other institutions also provide free deposits via VISA/Mastercard.

A poster has said that you can only apply for the Wise debit card if you are not living in  Thailand. Maybe I misread it.

Edited January 7, 2022 by possum1931

[sandyf]

5 hours ago, Mario Cosmopolite said:

I don't know when they removed the fee, but it is now free if you accept standard postage or at a cost if you want it sent DHL. (This is not experience for Thailand based as I got mine elsewhere, but they will send card to an address/country other than your registered address)

It would appear that the card issuing fee is still in place.

 

Card issuing fee

$7 USD / £5 GBP/ €6 EUR/ $10 SGD/ $10 NZD and free in AUD (the first time)

 

https://transumo.com/wise-card-review/#Wise-Card-Cost

[sandyf]

5 hours ago, possum1931 said:

Did you get your Wise debit card while living in Thailand?

Yes but it is registered to a UK address and the card sent to my son.

[Gottfrid]

On 1/5/2022 at 2:59 PM, treetops said:

Easy.  Today's rate is 1:1 and I've a feeling tomorrow's will be the same.

I actually asked for a rate change. 1:1 is constant and do not change. ????????

[Mutt Daeng]

21 hours ago, possum1931 said:

A poster has said that you can only apply for the Wise debit card if you are not living in  Thailand. Maybe I misread it.

Perhaps I am being pedantic, but I never said that. I said "if your registered address is in Thailand". Registered as in when opening your Wise account you used your Thai address, regardless of where you are living.

Edited January 8, 2022 by Mutt Daeng