Looking at the conversion rates offered for my Qantas Money card, and the market rates, I am wondering if I should look elsewhere. The FF points become less of an issue, the harder it is to redeem them.
I have been looking at the WISE card, and wondered if anyone had any feedback to offer. Better options?
Looking at the conversion rates offered for my Qantas Money card, and the market rates, I am wondering if I should look elsewhere. The FF points become less of an issue, the harder it is to redeem them.
I have been looking at the WISE card, and wondered if anyone had any feedback to offer. Better options?
Thanks in advance.
@kanga9999, I've gone with WISE too. Good rates compared to my Qantas Money card, and ditto about the vanishing opportunities for points redemption.
However, I still keep my QMC as a last resort backup in case wise or my bank issued credit/debit cards have issues. A few years back there was a CommBank outage the day after I checked out of my London hotel, and you couldn't use their cards at home (and overseas). Outage only lasted a day, but it made me realize it's best to have a wide spread (in my case 4 different cards) of bank issued credit/debit cards, QMC, and wise cards on hand for when one of your financial institutions has a meltdown (it happens!)
I've always thought having accounts in foreign currency is unnecessary for travel - Up, ING, Bankwest etc. all offer transaction accounts that have no foreign exchange fees and at close to the wholesale rate.
The only reason not to use an AUD account is if you want to lock in an exchange rate well in advance. In which case, maybe something like the HSBC multi-currency account. Citi used to offer a good one, and I'm sure Wise is fine along those lines too, but in practice I've never really used them even when I've had them.
Can't recommend Wise enough. Been using it for years for travelling all over the world. Support so many different currencies and the exchange rate is the best I have seen so far. The only drawback is that there is a conversion fee but generally still better than bank rate.
Be careful though ATM withdrawal may be charged heftily by overseas banks (on top of whatever fee that WISE may charge - I cannot remember the rule but I think first withdrawal each month is free up to a certain amount of cash value, but please confirm yourself their ATM withdrawl charges policy).
Like sunnybrae I always have a backup card or two. Not (yet) for bank meltdowns but because I have had problems with the Qantas Money card when trying to book/buy things online while overseas. The authentification thingy that sends codes, fails me pretty much every time. Emails that NEVER turn up.
Sadly, Dredgy, as I no longer work, I don't have a pay packet as such, so opening a new bank account is problematic. My research of Wise seems to suggest that as long as I can transfer dosh into it from my bank (actually, credit union) it should be sweet, as it is a debit card.
Thanks for the thumbs up airADL, sunnybrae and quantum reality re Wise, and also the heads up about using ATM's and possible extra charges. I always have backup cash bought in Oz on hand, so I don't get caught out... famous last words!
Haven't used Wise but love my Revolut card for locking in exchange rates. Do need to be mindful of cash withdrawal limits in countries where card not widely accepted or you might need more cash than usual (eg. Japan or Bali)
If you've got a credit card that doesn't charge fees when you buy something in a foreign currency and/or overseas, then just use that card. The exchange rate on the day will always be the best you can get.
Otherwise, I use Wise for business and it works really well, especially being able to add the card to my iPhone wallet and pay that way. The exchange rates are good. I wouldn't bother trying to "buy" currency at fixed exchange rates, just go with the prevailing rate you'll get when you actually incur the purchase.
My travel wallet comprises Wise, Ubank and ING debit cards (all no international conversion fees) along with a 28Degrees credit card for hotel check-in "hold" charges.
No hoops to jump through for all but ING. Very happy with Wise, 2 free atm withdrawals up to AUD350 each/month. I run an AUD wallet and unused funds at trip end can be moved back to my bank account quickly and at no fee.
I'd also suggest doing an "odd" value for ATM withdrawals so you are not lumbered with high denomination notes that merchants don't want to handle such as EUR50 and 100. For instance, withdraw EUR130 and you should get smaller value notes that are ease to use.
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Contemplating a WISE card for travel. Opinions?
kanga9999
kanga9999
Member since 09 Apr 2017
Total posts 63
Looking at the conversion rates offered for my Qantas Money card, and the market rates, I am wondering if I should look elsewhere. The FF points become less of an issue, the harder it is to redeem them.
I have been looking at the WISE card, and wondered if anyone had any feedback to offer. Better options?
Thanks in advance.
airADL
airADL
Qantas - Qantas Frequent Flyer
Member since 25 Mar 2014
Total posts 214
I use Wise seems the rates are always competitive
Easy to use loads into the e wallet.
I recommend them
sunnybrae
sunnybrae
Etihad - Etihad Guest
Member since 21 Jul 2019
Total posts 89
Originally Posted by kanga9999
Looking at the conversion rates offered for my Qantas Money card, and the market rates, I am wondering if I should look elsewhere. The FF points become less of an issue, the harder it is to redeem them.
I have been looking at the WISE card, and wondered if anyone had any feedback to offer. Better options?
Thanks in advance.
@kanga9999, I've gone with WISE too. Good rates compared to my Qantas Money card, and ditto about the vanishing opportunities for points redemption.
However, I still keep my QMC as a last resort backup in case wise or my bank issued credit/debit cards have issues. A few years back there was a CommBank outage the day after I checked out of my London hotel, and you couldn't use their cards at home (and overseas). Outage only lasted a day, but it made me realize it's best to have a wide spread (in my case 4 different cards) of bank issued credit/debit cards, QMC, and wise cards on hand for when one of your financial institutions has a meltdown (it happens!)
Dredgy
Dredgy
Qantas - Qantas Frequent Flyer
Member since 02 Apr 2017
Total posts 181
I've always thought having accounts in foreign currency is unnecessary for travel - Up, ING, Bankwest etc. all offer transaction accounts that have no foreign exchange fees and at close to the wholesale rate.
The only reason not to use an AUD account is if you want to lock in an exchange rate well in advance. In which case, maybe something like the HSBC multi-currency account. Citi used to offer a good one, and I'm sure Wise is fine along those lines too, but in practice I've never really used them even when I've had them.
Stuff like Qantas Pay is such a rip off.
quantumreality
quantumreality
Qantas - Qantas Frequent Flyer
Member since 16 Jan 2018
Total posts 71
Can't recommend Wise enough. Been using it for years for travelling all over the world. Support so many different currencies and the exchange rate is the best I have seen so far. The only drawback is that there is a conversion fee but generally still better than bank rate.
Be careful though ATM withdrawal may be charged heftily by overseas banks (on top of whatever fee that WISE may charge - I cannot remember the rule but I think first withdrawal each month is free up to a certain amount of cash value, but please confirm yourself their ATM withdrawl charges policy).
kanga9999
kanga9999
Member since 09 Apr 2017
Total posts 63
Thanks all for your feedback.
Like sunnybrae I always have a backup card or two. Not (yet) for bank meltdowns but because I have had problems with the Qantas Money card when trying to book/buy things online while overseas. The authentification thingy that sends codes, fails me pretty much every time. Emails that NEVER turn up.
Sadly, Dredgy, as I no longer work, I don't have a pay packet as such, so opening a new bank account is problematic. My research of Wise seems to suggest that as long as I can transfer dosh into it from my bank (actually, credit union) it should be sweet, as it is a debit card.
Thanks for the thumbs up airADL, sunnybrae and quantum reality re Wise, and also the heads up about using ATM's and possible extra charges. I always have backup cash bought in Oz on hand, so I don't get caught out... famous last words!
marcellinus
marcellinus
Member since 17 Jan 2018
Total posts 15
Haven't used Wise but love my Revolut card for locking in exchange rates. Do need to be mindful of cash withdrawal limits in countries where card not widely accepted or you might need more cash than usual (eg. Japan or Bali)
traveller99
traveller99
Member since 18 Nov 2015
Total posts 119
If you've got a credit card that doesn't charge fees when you buy something in a foreign currency and/or overseas, then just use that card. The exchange rate on the day will always be the best you can get.
Otherwise, I use Wise for business and it works really well, especially being able to add the card to my iPhone wallet and pay that way. The exchange rates are good. I wouldn't bother trying to "buy" currency at fixed exchange rates, just go with the prevailing rate you'll get when you actually incur the purchase.
icarusol
icarusol
UA
Member since 30 Jun 2015
Total posts 7
My travel wallet comprises Wise, Ubank and ING debit cards (all no international conversion fees) along with a 28Degrees credit card for hotel check-in "hold" charges.
No hoops to jump through for all but ING. Very happy with Wise, 2 free atm withdrawals up to AUD350 each/month. I run an AUD wallet and unused funds at trip end can be moved back to my bank account quickly and at no fee.
I'd also suggest doing an "odd" value for ATM withdrawals so you are not lumbered with high denomination notes that merchants don't want to handle such as EUR50 and 100. For instance, withdraw EUR130 and you should get smaller value notes that are ease to use.