What are the downsides of a Wise card

[Rampant Rabbit]

 (UK citizen) I know they arent protected like UK banks are  up to 85k but I dont plan on holding huge sums with them.

What are ATM withdrawal costs on the Thai side?

Anything else I should look out for?

Would I need a UK phone for 2FA, my credit card co. in the UK RBS does  "email "2FA which I prefer

I wont if  possible use a phone app prefer to use it  through a  laptop.

[Upnotover]

ATM withdrawals are 220 baht, same as any other non-Thai card.  You get 2 free withdrawals a month but only up to a total maximum of £200, thereafter a 1.75% charge is made.  So basically non-ideal for cash withdrawals.

 

I only use the app and any verification requests come through that.  You can also set up verification through an authentication app or also by text message but I never tried those.  I don't see any e-mail option.

 

 

[oldcpu]

Downsides?

 

You may have to maintain a postal mailing address outside of Thailand to obtain and keep your Wise card  (at least it used to be that way).

 

I've been living in Thailand since 2019 and just prior to COVID in early 2020 my Wise card expired.  Wise would not send a replacement to Thailand.  Instead they sent such to a German address I maintain (an address of a friend) who passed the card to another friend and hand delivered the replacement card to me in Feb 2020.

 

I've had to work around this (not deliver card to Thailand) one other time.

 

Wise transfer times can vary, dependent on the currencies involved and the amount being transferred.

 

Further for transfering large very sums of money I find Wise can be more expensive than a bank's swift transfer and currency exchange.

 

Also Wise can be used to transfer money into Thailand, but it can not be used to transfer money out of Thailand.

 

Also, one does not get 'frequent flyer' or other 'points' for using a Wise card.

 

Having typed all the above, I find the Wise card very useful for traveling in different countries in South East Asia, Europe, and in Canada.   I believe the amount I save using the Wise card (with its superior exchange rate) is better than trying to build up flyer points on a different card with horrible exchange rates.

Edited 8 hours ago by oldcpu

[BritManToo]

21 minutes ago, oldcpu said:

I've been living in Thailand since 2019 and just prior to COVID in early 2020 my Wise card expired.  Wise would not send a replacement to Thailand.  Instead they sent such to a German address I maintain (an address of a friend) who passed the card to another friend and hand delivered the replacement card to me in Feb 2020.

Why do you need a physical WISE card when the app allows you to make two virtual cards?

[oldcpu]

11 minutes ago, BritManToo said:

Why do you need a physical WISE card when the app allows you to make two virtual cards?

 

I prefer not to have everything on my phone. Thus far I have managed not to go do something stupid and forget my phone .. but making such a mistake is possible for me. 

 

I think each has to decide on their own choice here.

 

[BritManToo]

8 minutes ago, oldcpu said:

I prefer not to have everything on my phone. Thus far I have managed not to go do something stupid and forget my phone .. but making such a mistake is possible for me. 

 

I think each has to decide on their own choice here.

You can access WISE from more than one phone, and your PC, I currently have it on 3 mobiles.

Edited 7 hours ago by BritManToo

[Upnotover]

5 hours ago, BritManToo said:

Why do you need a physical WISE card when the app allows you to make two virtual cards?

If you want to use an ATM or use your card where it is not possible to make a cardless transaction with your phone (many places)