Planning your next overseas adventure? If you’re like us and want to avoid hidden bank fees and get the best exchange rates, the Wise debit card (formerly TransferWise) is a must-have in your wallet.
We’ve been using Wise since it launched in NZ back in 2019, and it’s now our go-to card for spending overseas and even at home.
Here’s everything you need to know.
What Is the Wise Debit Card?
The Wise debit card works like a prepaid card that lets you spend in multiple currencies using the real exchange rate. You can also withdraw cash from ATMs, book flights, pay at restaurants and shops — all without those sneaky foreign transaction fees.
You can withdraw up to $350 NZD per month for free (in two separate ATM withdrawals). After that, small fees apply, but they’re still lower than what most NZ banks charge.
Wise Multi-Currency Account
When you sign up for a Wise debit card, you also get a Wise Multi-Currency Account. This is where the real magic happens:
- Hold 50+ currencies in one account
- Send money to over 70 countries
- Get real-time exchange rates
- Receive local account details (like a UK sort code or US routing number)
- No monthly fees or hidden costs
It makes managing money across borders super simple and way cheaper than a regular bank account.
You can get a Wise debit card for your travels using this link, and embrace the convenience of hassle-free transactions and massive savings wherever you go.
Physical and Virtual Card Options
Wise gives you the choice of a physical debit card or a virtual one:
- Physical card: Use it like any other debit card in 150+ countries. Great for travel.
- Virtual card: Perfect for online shopping or apps like Temu where you’d rather not share your main card details.
Both work with Google Pay and Apple Pay.
You can create and delete virtual cards as needed — ideal for extra security.
Using the Wise Debit Card
Adding Money to the Account
To begin using your Wise debit card, you must add money to your account.
You can top up your Wise account via bank transfer, POLI, or debit/credit card.
Bank transfer is usually the cheapest, though a bit slower.
I’ve used manual bank transfer from BNZ — it took about 1.5 hours and saved a few dollars in fees, so worth it in my opinion.
Just make sure you have enough NZD in your account before you travel, or convert ahead of time to the currency you’ll need.
Converting Currencies
Wise charges a small, transparent fee when you convert currencies — and always uses the mid-market exchange rate (that’s the one you see on Google).
You can convert your NZD in the Wise app ahead of time or let Wise auto-convert at the time of purchase.
Spending Money in New Zealand and Overseas
Use your Wise card for contactless payments, online shopping, or in-store purchases — in NZ or overseas.
You get two free ATM withdrawals per month (up to $350 NZD). After that, you’ll pay:
- $1.50 per additional withdrawal
- 1.75% on any amount above the $350/month free limit
Some ATM providers may charge their own fees too — check in advance if you can.
Instant Transaction Notifications
Every time you spend or withdraw money, you’ll get a notification on your phone.
This helps you keep tabs on your spending while travelling and was helpful for me when I spotted a small transaction I didn’t make, so I was quickly able to block my card and order a new one before more money was taken.
Wise Virtual Card
Wise virtual cards are great when you don’t fully trust an online store or want a layer of separation from your main account.
You can use them for contactless payments on your phone, then delete the card details after — too easy.
Fees and Charges
This section outlines the various fees associated with the Wise Debit Card for travellers from New Zealand.
Currency Conversion Fees
The primary reason for using the Wise Debit Card is to enjoy low currency conversion fees.
Wise uses the mid-market exchange rate without any hidden costs, ensuring that you can easily convert your New Zealand Dollars into foreign currency.
When you spend money in a currency you hold in your account or convert currencies in the Wise app, you’ll only pay a small fee based on the transaction amount.
ATM Withdrawal Fees
The Wise Debit Card allows you to withdraw money from ATMs at low fees.
You can make up to two withdrawals for a total of $350 NZD each month for free.
After that, a 1.5 NZD fee per cash withdrawal applies. Additionally, there’s a 1.75% fee on any amount you withdraw above 350 NZD.
This is still a competitive fee compared to the main New Zealand banks as you can see from the table below, and as Wise’s exchange rates are the mid-market rates, you’ll probably still end up better off.
However, we personally try to withdraw just $350 per month in cash.
| Provider | ATM Fee | Foreign Currency Fee |
| BNZ | none | 2.25% |
| Westpac | $3 or free with Global Alliance Partner ATMs | 1.95% |
| Kiwibank | $6 | 2.50% |
| ANZ | none | 1.30% |
| ASB | none | 1.10% or 2.20% |
| Wise | Free up to $350/month, $1.50 over $350/mth | 1.75% |
Card Issuing Fees
Getting the Wise debit card comes with no issuing fee or annual fees.
However, if you lose your card or need a replacement, there might be a small fee to cover the cost of producing and sending out a new card.
Check Wise’s pricing page for further details on card replacement fees.
Wise Card Review: Customer Since the Beginning
I feel uniquely qualified to do a Wise card review as a user since Wise (then Transferwise) introduced their debit card to the New Zealand market in 2019.
I have used my Wise card in the United States, United Kingdom, Ireland, Spain, Singapore, Malaysia, Thailand, Australia and, of course, New Zealand.
It is an essential tool in my travel kit and the primary way my husband and I spend money when we travel to keep currency conversion fees to a minimum.
The main benefits for us are the low currency conversion charges, transparent fees, and the ability to make international money transfers from within the Wise app easily.
I tend to hold funds in New Zealand Dollars (or United States Dollars as I am paid in USD), converting money as we reach a new country.
For example, when we travelled to Malaysia, I opened a new MYR (Malaysian Ringgit) wallet on Wise and transferred our monthly travel spending allocation over.
As we tend to stay longer when we travel, this works well for us as it allows us to track how much we are spending and in what categories.
The spending tracker is one of the Wise card features I like the most #personalfinancenerd.
For short trips or stopovers, holding funds in NZD and allowing Wise to apply the conversion fee at the time of purchase works well.
I also find that Wise consistently has the cheapest conversion fee when it comes to sending money to family overseas.
Wise Debit Card Review: Frequently Asked Questions
Is it worth getting a Wise card?
Yes – absolutely! It’s the best travel money card available in New Zealand by a long shot.
The Wise card can save you money on exchange rates (they use the mid-market exchange rate) and foreign transaction fees and offers flexibility for international travellers to withdraw and pay in more than 50 currencies around the world,
Can Wise be used as a debit card?
Yes, Wise offers a debit card only. It must be linked to a Wise multi-currency account which is where you hold the New Zealand dollars you add to the card, as well as any foreign currency wallets you choose to open.
Can I use a Wise card in New Zealand?
You can absolutely use your Wise card in New Zealand. This is a good way to use up any leftover foreign currency in your online wallet without massive currency conversion fees.
I recently spent $24.09 at New World, using small amounts left over in my multiple wallets, so the transaction was made up of NZD, AUD and EUR.
You can see how the different currencies were used up in the screenshot below.
According to Wise:
If you don’t have the currency you need in your account, you can still spend money. Our Smart Conversion technology will automatically convert the balance for you that has the lowest conversion fee.
If the currencies that you hold in your account have the same conversion fees, we’ll use the one with the best exchange rate, so you get the most for your money.
Wise will always choose the option that saves you the most money, using up the local currency first.
What is the difference between a Wise debit card and a credit card?
The main difference between a Wise debit card and a credit card is that a debit card is linked to your Wise account and allows you to spend only the money you have in your account.
While a credit card allows you to borrow money up to a predetermined credit limit and is issued by a bank.
Wise does not offer credit cards. So there’s no chance of going into debt or overdraft with a Wise account.
It will simply decline the transaction if there is no money in the account.
Can I get a Wise card in NZ?
Yes – to get a Wise debit card, you can sign up here. The card issuing fee is $14, and you can choose to pay for expedited shipping if you are in a rush.
Allow two weeks for the card to arrive after signup.
Can I use a debit card on TransferWise?
You can top up your Wise Card balance with a debit card.
Is Wise considered a bank in New Zealand?
No, Wise is not considered a bank in New Zealand. Wise Payments Ltd., which operates in New Zealand as a foreign entity, is not licensed by a New Zealand regulator to provide its services.
However, it is supervised by the Department of Internal Affairs (DIA) for anti-money laundering purposes.
If you have a borderless account with Wise, it is considered an electronic money account, which is different from a bank account.
Sign up for a Wise debit card for your travels using this link, to save on fees and get the best exchange rate wherever you go.
