The TransferWise Debit Card is connected to the Borderless account, giving you access to 28 different currencies without the need to move money around.
When you spend money with your card, TransferWise will automatically exchange it in a way that is cheapest for you, choosing which balance is the best to convert into what you are spending 💷 🔀 💶
No longer have to transfer money to/from my bank accounts when exchanging.Cons:
No way to deposit cash
Just got it and definitely recommend it already! Transferwise has by far been the smoothest banking experience so far from all the new tech banks i've signed up for.Mahmoud Swehli has used this product for one day.
If I'm not holding enough of the currency I'm trying to spend, Transferwise will automatically transfer from another one at the best rate!Cons:
Mobile app is still in beta, so they're working out some of the kinks.
I LOVE my TransferWise card.
I often buy services from a range of countries - especially software. This means I get billed in a range of currencies, which causes me extra cost when my Aussie credit card gets billed. Enter TransferWise's global card. I can deposit some USD, some EURO, some GBP and put all my SaaS / ecommerce purchases on one card.
With Borderless Accounts, you can also accept a variety of currencies - so whilst I work in Australia, I often have clients in UK and US, which means I can now easily accept payment into a 'local account' for my clients, and then reduce the transfer fees by holding those currencies until I'm ready to accept them, or pay for something locally.
Thank you TransferWise, for pushing the envelope of international life and financial arrangements.Sam Rye has used this product for one month.