How to Make and the Benefits of a Wise Debit Card for Use Abroad

• This article is for reference only as it is merely a translated version of the Japanese article below.
  海外で使えるカード！Wiseデビットカードの作り方とメリットを解説 (Japanese version)

The Wise debit card is, frankly, a must-have for those who travel abroad or shop in foreign currencies, as it offers considerable savings.

Wise (formerly TransferWise) is a service that allows international transfers at much lower fees than banks, up to 14 times cheaper. Since its launch in 2011, over 10 million people worldwide have used the service.

In addition to international transfers, Wise offers the Wise debit card, which allows foreign currency transactions at up to 2.4 times lower costs compared to Japanese bank cards.

This article explains how to make a Wise debit card and its benefits.

Reasons to Get a Wise Debit Card

Simply put, the Wise debit card is designed specifically for spending in foreign currencies.

Note: A debit card is a card from which expenditures are immediately withdrawn from your account.

The Wise debit card supports over 50 currencies and can be used in more than 200 countries and territories worldwide. It offers fair exchange rates without any markup, making it significantly more beneficial than standard credit cards. It is definitely a card you would want to obtain before traveling abroad.

Who Should Consider Getting a Wise Debit Card

The Wise debit card is easily accessible for application even from Japan and is particularly recommended for the following types of people:

• Those who want to save on exchange fees and make cost-effective transactions in foreign currencies while traveling abroad.
• Individuals who wish to withdraw cash from overseas ATMs without incurring fees.
• People who frequently shop in foreign currencies at online stores.
• Those who want to manage multiple currencies while keeping fees low.
• Individuals involved in frequent business transactions overseas.

For those using it abroad, the Wise debit card offers numerous benefits.

Next, let’s discuss the specific advantages of the Wise debit card.

Benefits of the Wise Debit Card

Here are three key benefits of the Wise debit card:

Three key benefits of the Wise debit card

1. Extremely Low International Usage Fees
2. Two Free ATM Withdrawals Per Month (up to JPY 30,000)
3. No Annual Fee for Account Maintenance Additional Benefits

1. Overwhelmingly Low International Usage Fees

The primary advantage of the Wise debit card is its significantly low international usage fees.

The exchange rates are always applied at the real rate, which is exceptional. Typically, when exchanging money through banks, the applied rate includes a markup over the actual rate. Additionally, a separate exchange fee is charged, which altogether can add up to a substantial amount.

By using the Wise debit card, one can minimize the cost differential in exchange rates and pay lower fees compared to traditional bank exchange fees and even typical credit cards. This makes foreign currency transactions considerably more cost-effective.

２. Two Free ATM Withdrawals per Month (Up to JPY 30,000)

With the Wise debit card, users can benefit from two free withdrawals per month, for amounts up to JPY 30,000.

When withdrawing local currency from ATMs abroad, using standard cards generally incurs a foreign transaction fee of 2-3% added to the exchange rate set by the international brand.

However, with the Wise debit card, the real exchange rate is always applied, eliminating the worry of additional fees due to rate differences. Furthermore, converting yen to foreign currency is done at a lower fee, making it a more economical option compared to regular cards.

It should be noted that from the third ATM use onwards, a fee of JPY 70 per transaction is charged. If withdrawing more than JPY 30,000 in a month, a 1.75% fee plus a fixed fee of JPY 70 are added.

For more details on the fees for the Wise debit card, please refer to the official website.

3. No Annual Fee for Account Maintenance

The Wise debit card does not require an annual fee. There is only a one-time fee of JPY 1,200 when ordering the card, after which there are no further costs related to annual fees or card expiration.

The absence of maintenance costs makes it convenient for individuals who do not travel abroad frequently to obtain and use the card.

Additional Benefits

Supports convenient contactless payments with an integrated IC chip.

Automatically exchanges currencies if the currency needed is not already held.

Can be registered and used with Google Pay and Apple Pay.

Allows free management of funds within the app.

These features make the Wise debit card incredibly beneficial for international use.

How to Create a Wise Debit Card

Step 1: Open an Account with Wise

First, create an account with Wise. Initial identity verification is required.

The registration process for Wise is explained in detail in the following article, so please refer to it for guidance.

• Steps to Open an Account with Wise

Step 2: Create a Wise Debit Card

Once your Wise account has been created, click “Login” > “Card” > “Order a Debit Card” to proceed with creating your Wise debit card.

There are two types of cards available: a digital card and a physical card. For those who want to use the card immediately, selecting the digital card is recommended. If you choose the digital version, the initial issuance fee is also free.

If you want to use an ATM to conveniently arrange for local currency during your travels abroad, opt for the physical card.

Note: For the physical card, an initial deposit of JPY 1,200 is required for issuance.

The physical card will usually arrive within two weeks after the order is completed.

Step 3: Activate the Wise Debit Card

Once your Wise card is ready, it needs to be activated first.

To activate the card, follow these steps:

1. Use the card with your Personal Identification Number (PIN).

2. Either withdraw cash or check your balance at an ATM.

Note: In Japan, the ATMs that can be used are limited to those from AEON, E-net, View Card, and Daily Yamazaki.

Activation can be completed using any of the above methods.

Once you deposit funds into the registered account, the card will be ready for use.

Summary

Wise provides a cost-effective and convenient international transfer service, and the Wise debit card was developed as part of this service.

This card allows you to manage over 50 currencies with just one card.

It also enables payments in foreign currency and allows conversion as needed.

Moreover, the exchange fees are significantly lower than those of standard cards, making it ideal for those who frequently use foreign currencies.

You can make fee-free ATM withdrawals twice a month (up to JPY 30,000), which can be very useful during overseas trips or business travels.

The Wise debit card is essential for anyone traveling abroad or shopping in foreign currencies.

Please consider creating a Wise debit card to enjoy a more affordable and comfortable life abroad.