13 Reasons Not to Use the Wise Card (And What to Use Instead)
/Why Not to Use the Wise Card
The Wise card is one of the most aggressively- promoted financial tools online. You’ll see influencers praising it, bloggers recommending it, and ads following you across the internet. But once you look past the marketing and affiliate hype, the Wise card becomes one of the least cost‑effective and least practical options for real travelers.
After analyzing Wise’s fees, policies, and real‑world traveler experiences across multiple countries, here are the 13 reasons you should avoid using the Wise card.
1. Hidden Conversion Fees (And the Network Rate Reality)
Wise says it uses the “mid‑market rate,” but it also adds a conversion fee.
For many currencies (like CAD → MYR), that fee is around 0.60%.
Meanwhile, Visa and Mastercard usually stay within 0.2%–0.3% of the mid‑market rate, with no extra fee added.
So in many cases, the “fee‑free” network rate is actually cheaper than Wise once Wise adds its conversion fee.
2. The 1.75% ATM Tax
Wise gives you a tiny free ATM allowance. After that, you pay:
1.75% of the withdrawal amount, plus
a flat fee per withdrawal
In cash‑heavy countries, this becomes a silent tax on every dollar you take out.
3. Extremely Low Free Withdrawal Limit
The free ATM limit is only $350 CAD per month (or the equivalent in your currency).
Most travelers exceed this in a single week.
4. Wise Is 3× More Expensive Than a Simple Two‑Card Setup
Real math example:
For every $1,000 spent (50% card, 50% cash):
Wise costs $10.13
A no‑FX credit card + a no‑FX bank card costs $3.25
Wise is literally three times more expensive.
5. No Rewards or Cash Back
Every time you use Wise, you earn nothing.
A no‑FX credit card earns 1–2% back, which is a hidden cost of choosing Wise.
6. Weak Consumer Protection
Wise is a Money Services Business, not a bank.
Debit cards have weaker dispute rights, weaker fraud protection, and no chargeback guarantees compared to credit cards.
7. Account Freezing Risks
Wise is known for automated account freezes triggered by “suspicious activity.”
If this happens while you’re abroad, you may lose access to your money for days.
8. No Emergency Credit Line
If your Wise balance hits zero, you’re done.
A credit card gives you:
A buffer
Emergency credit
Protection from fraud while the dispute is resolved
Wise gives you none of that.
9. Not Ideal for Hotels or Car Rentals
Hotels and rental agencies often:
Reject debit cards
Require large deposits
Prefer credit cards for holds
Wise is unreliable for these essential travel situations.
10. No Travel Insurance or Perks
Wise offers zero:
Trip cancellation
Medical coverage
Lost baggage protection
Rental car insurance
Lounge access
Delayed flight compensation
A premium no‑FX credit card includes most of these automatically.
11. Preloading Friction
Wise requires you to:
Move money into the account
Wait for transfers
Manage balances manually
If your bank blocks a transfer or you have poor Wi‑Fi, you’re stuck.
12. Your Own Money Is Tied Up During Fraud Investigations
Wise is a debit card, which means any fraudulent transaction hits your actual balance.
Even though Wise offers app security and card freezing, if fraud occurs, your money is tied up until the investigation is complete.
With a credit card, the bank fronts the money and you’re not out of pocket during the dispute.
13. Sponsored Review Bias
Most online “Wise reviews” are affiliate‑driven.
Creators get paid when you sign up, so they rarely compare Wise to the cheaper, smarter alternatives.
Final Thoughts
Wise is a great tool for sending money internationally — but as a travel card, it falls short in almost every way. Between the hidden fees, weak protections, and lack of perks, it simply cannot compete with better options available to travelers worldwide.
If you want to see the exact setup I recommend instead, including the simple two‑card method that consistently beats Wise on cost and convenience, check out my dedicated video/article on that strategy.
