A review of fees: Major routes got cheaper while some fees went up
We changed many of the fees on Wise this week. Some of you benefited as a lot of routes got cheaper, but some of you will also see an increase in some...
The Wise card has finally landed in Canada! If you and your audience shop online, travel, or do business abroad, this little green card will save you money. Our card is part of the Wise account — a multi-currency account that lets you hold and convert over 50 currencies, all in one place. If you have the local currency in your Wise account, the card will draw from that balance. If you don’t, it will auto-convert the currency that's cheapest.
With the Wise Card, our personal and business customers can:
Learn more about the Wise card
Personal customers can get the card for $10 CAD first order, $5 CAD to reorder. Plus get access to 3 virtual cards for free.
Business account customers can get this card for free.
You can take out money for free abroad twice a month — as long as the total amount is under the equivalent of 350 CAD.
After that, we’ll charge you the equivalent of $1.50 CAD per transaction. This is a fixed fee. If you take out over 350 CAD in one month, we’ll charge you 1.75% on top of that. More information about ATM fees here.
Note: currently the card does not support cash withdrawal in Canada, only overseas
Have questions about the Wise card? Go to our FAQ
Banks usually charge 3-6% on foreign money transfers. We charge 0%. And since you can use your Wise card globally, every dollar you save in fees can go towards what you buy online internationally. Our card allows you to transfer money locally and internationally while being able to spend online all over the world.
This one is for frequent travellers. With a Wise card in your wallet you can pay directly from your account in any currency. Forget about complicated conversion fees, our team has set up smart tech that will always auto-convert to the lowest possible fee making money transfers simple. So you can pay for holidays as if you were from the country you’re visiting.
With Wise you can get paid from over 30 countries across the world and hold money in up to 50 currencies. Meaning you don’t have to be limited by your location and you can expect to get paid globally, not just locally. Pay for business expenses, say yes to that next freelance project and expect rates that are up to 4 times cheaper than most other providers.
A lot of the time, when moving country, you’ll need to jump through hurdles before you can get a hold of a bank account. With low conversion fees, borderless spending both online and offline and the ability to spend like a local, you can set up shop wherever you want without having to worry about the technicalities. International money transfers to Canada and beyond don’t need to be complicated.
There’s so much you can do with a multi-currency account and one of our Wise Cards. Read more about it here!
An independent researcher compared Wise to 3 Canadian banks and other money transfer providers.
Spend: They found that Wise is on average 4x cheaper for spending C$500 abroad.
Withdraw: Fees to withdraw C$500 from an ATM abroad are on average 3x cheaper with Wise
Send: Wise is on average 4x cheaper to send C$500 abroad
As compared to only Banks in Canada, Wise is:
Below are some suggestions on how you could look to promote Wise’s Canada card launch:
You can create deeplinks to our Wise card in Canada landing page.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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