Wise vs YouTrip: Card, account & international transfer [2024]

Claire Millard
Şeyma Mektepli
Last updated
22 January 2024

If you’re looking for a simple way to spend money in foreign currencies - for a trip abroad, or when you’re shopping online - you might have heard of both Wise and YouTrip.

Both Wise and YouTrip offer digital multi-currency accounts and cards which can support a selection of currencies and which can be used for global spending. However, it’s helpful to note upfront that while YouTrip has been widely reported to be expanding its services to Malaysia, it’s not yet offered to people with a Malaysian residential address. Wise on the other hand, is available for Malaysian customers.

If you’re eligible for both Wise and YouTrip - or if you just want to get a measure of YouTrip ahead of its Malaysian launch - this guide is for you.

Summary: Wise multi-currency accounts and debit cards offer spending in 150+ countries, mid-market rate currency exchange and international payments with low, transparent fees. You can choose to hold your balance in 40+ currencies including MYR. YouTrip has cards and digital multi-currency accounts to hold 10 currencies and spend globally, plus options to make international payments to other YouTrip account holders. YouTrip doesn’t support holding a balance in MYR, and is not available for Malaysian residents at the time of writing, but is widely reported to be planning an expansion to Malaysia.

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Wise Vs YouTrip: Side by side comparison

Let’s start with an overview of Wise vs YouTrip so you can get a feel for what services each provider has, and how they measure up. As we’ve already mentioned, YouTrip isn't available in Malaysia yet, so we’ll use the relevant fee and feature detail from YouTrip Singapore wherever relevant in this guide.

Service availabilityOnline and in app - available in most countries globallyOnline and in app - available for people with a residential address in Singapore or Thailand only 
Multi-currency accountHold and convert more than 40 currenciesHold and convert 10 currencies
Debit cardYY
Spend with debit cardFree to spend a currency you hold, conversion fee from 0.43% for other currenciesFree to spend a currency you hold, conversion uses the network rate for unsupported currencies
Local account details for receiving paymentY - available in 10 currenciesN
Send money toMore than 160 countriesOther YouTrip account holders online, in 10 currencies
Transfer speed50% of payments are instant, 90% arrive in 24 hoursInstant
Exchange ratesMid-market rateYouTrip rate for 10 supported currencies, network rate for unsupported currencies
Open a business accountYY

So, to summarise:

  • Wise is available in app and online, in most countries globally - YouTrip is offered to customers with residential addresses in Singapore and Thailand only

  • Both YouTrip and Wise offer digital accounts and card services, which you can manage with just your phone

  • Wise supports 40+ currencies for holding and exchange; YouTrip supports 10

  • All Wise currency exchange uses the mid-market rate with fees from 0.43%; YouTrip uses its own rate for currency exchange on supported holding currencies, and the network rate for spending in unsupported currencies

  • Wise offers local account details for receiving 10 currencies including MYR - YouTrip does not

  • Both providers are fully regulated, and offer both personal and business services

Go to WiseGo to YouTrip

The important bits: Wise or YouTrip?

RatesMid-market exchange rateYouTrip or network rate depending on the payment type

Free to spend currencies you hold

No monthly charges

Transaction fees apply

Free to spend currencies you hold

No monthly charges

Transaction fees apply

Speed50% instant, 90% same dayInstant payments to other YouTrip accounts
ServiceOnline, Desktop browser and mobile appOnline, Desktop browser and mobile app
SafetyFully regulated and licensed Fully regulated and licensed
Reviews (TrustPilot)4.2, Great, 204,000+ reviewsNot active on Trustpilot

To summarise:

  • Rates: Wise uses the mid-market rate, whereas YouTrip uses its own rate for converting supported currencies, and the network rate when converting an unsupported currency for spending

  • Fees: No monthly fees with either provider. Free to spend currencies you hold with both providers

  • Speed: Wise transfers may arrive instantly, and 90% arrive in 24 hours, while YouTrip transfers can be sent instantly to other YouTrip accounts

  • Service: Both providers have online and in-app service

  • Safetly: Both providers are fully regulated and licensed

  • Reviews: Wise has a Great rating on Trustpilot from 204,000+ reviews, YouTrip isn’t active on the site and so does not have a rating

Go to WiseGo to YouTrip

Wise card vs YouTrip card comparison

Both Wise and YouTrip have linked debit cards you can use for local and international payments and withdrawals. Here’s a quick side by side feature comparison.

Provider cardCard features
Wise card
  • 13.7 MYR order fee

  • Free to spend currencies you hold

  • Conversion fee from 0.43% to spend currencies you don’t hold

  • 2 free ATM withdrawals to the value of 1,000 MYR every month, 5 MYR + 1.75% fees apply after that

YouTrip card
  • 10 SGD delivery fee

  • Free to spend currencies you hold

  • Network rate applies to spend currencies you don’t hold

  • Withdraw 400 SGD a month fee free, then 2% fee applies after that

Go to Wise

Related: How to get a Wise card in Malaysia

Pros and cons: Wise or YouTrip?

✅Multi-currency accounts to hold 40+ currencies
✅ Payments to 160+ countries
✅ Local receiving account details for 10 currencies
✅ Payment cards for use in 150+ countries
✅ Mid-market exchange rates

✅ Trusted and well known Singaporean provider

✅ Hold 10 currencies and spend globally with your card

✅ Instant free payments to other YouTrip accounts

✅ Fair exchange rates

✅ Some reward and promotional offers available

❌ Some service fees apply
❌ No physical location for face to face services

❌Not available for Malaysian residents

❌Some service fees apply

Go to WiseGo to YouTrip

The verdict: Which is better in Malaysia, Wise or YouTrip?

Whether Wise or YouTrip is right for you might just depend on whether you hit the eligibility requirements for both services. YouTrip isn’t available to customers with a Malaysian residential address at the time of writing, while Wise is freely available to customers in Malaysia.

If you’re eligible for both providers, it’s worth comparing both based on the services you need and the type of transaction you’ll make often to decide which suits you best.

YouTrip is a popular digital account and card provider which covers 10 major global and regional currencies for holding and spending - plus you can use your card globally to get the network rate whenever you spend an unsupported currency. It’s worth noting that you can’t hold a balance in MYR with YouTrip, so you’ll need to top up in a supported currency like SGD and then let the card convert with the network rate when you spend.

Wise has more international features including 40+ supported currencies for holding and exchange, local bank details to get paid in 10 currencies, and a linked card for spending in 150+ countries. All Wise currency exchange uses the mid-market exchange rate too, with low fees from 0.43% which can work out cheaper than using a card with a foreign transaction fee.

Go to Wise

About Wise and YouTrip

What is Wise?

Wise: Wise was launched in the UK in 2011, and today offers cross border transfers, multi-currency account services, debit cards and business products. Wise has a focus on making it cheaper and easier to manage your money across currencies, with low, transparent fees every time.

Wise multi currency account

What is YouTrip?

YouTrip: YouTrip is a Singapore based digital account and card provider which was launched in 2018. It has a vision to allow anyone to pay in foreign currencies easily, with no transaction fees for many services and options to convert currencies conveniently in app.


How do they work?

YouTrip offers a handy digital wallet you can top up in SGD and then convert with the YouTrip exchange rate to any of 10 supported currencies. It’s then free to spend a currency you hold when you’re abroad. Plus, you can send payments to other YouTrip account holders instantly and for free in any of the 10 supported currencies for holding and exchange.

Wise accounts let you hold, send, spend and exchange 40+ currencies, and order a linked payment card for use in 150+ countries.

You can also get local bank details for 10 currencies - including MYR if you’re a Malaysian resident - to get paid conveniently. Wise international transfers are available to 160+ countries, and as they’re processed through Wise’s own payment network, the fees are kept low for customers.

With both providers you’ll need to get verified before you can start. If you’re in Singapore you can pick either provider and apply with your SingPass and phone - if you’re in Malaysia check out Wise which lets you apply with your passport or MyKad.

Wise card vs YouTrip card: Where can you use them?

You can use a Wise card in 150+ countries, to spend 40+ currencies. Wise cards are issued on either Visa or Mastercard networks, which are widely accepted around the globe.

YouTrip cards are usually issued on the Mastercard network, for use in 150+ countries.

Related: How to use Wise card abroad

How to use Wise card overseas

You can conveniently use your Wise card when you travel, for low cost spending and withdrawals wherever you see your card network logo. Overall, Wise cards are supported in 150+ countries, making them handy no matter where you plan to travel. Here are a few things you can do with your Wise card overseas:

  • Top up your card in MYR or the currency of your choice from 20+ supported currency options

  • Convert your currency balance to MYR if you need to, to see your spending budget for Malaysia in advance

  • Tap to pay with your physical Wise card, or use your Wise virtual card for mobile payments through a wallet like Apple Pay

  • Make cash withdrawals at any supported ATM - some ATM withdrawals are free every month, and there are low, transparent fees after that

  • Get instant transaction notifications, check your balance, freeze and unfreeze your card, right from your phone

How to use YouTrip card overseas

The YouTrip card is supported for use in 150+ countries, wherever you see the Mastercard logo. You can top up your account in SGD and choose to convert to the currency you need in your destination if it’s one of the 10 YouTrip supported currencies. MYR is not a supported currency for holding a balance.

If you need a currency not supported by YouTrip you can leave your money in SGD and the card will convert your balance with the network rate when you spend. Here are some of the things you can do with your YouTrip card overseas:

  • Add money to your account in SGD ready for spending and withdrawals

  • Spend with your physical card or using your YouTrip virtual card with a mobile wallet like Apple Pay

  • Withdraw money from ATMs - some withdrawals are free every month but fees apply once your monthly allowance is exhausted

  • Get push notifications when you spend and review your balance in the YouTrip app for convenience

Wise Vs YouTrip fees

Let’s look at the key costs you’ll need to know about - you’ll also want to review the providers’ own fee schedules before you pick between Wise vs YouTrip.

ServiceWise feeYouTrip fee
Ongoing feesNo fee to open a personal Wise accountNo fee 
Card fee13.7 MYR10 SGD delivery fee
Spend currencies you holdNo feeNo fee 
Spend currencies you don’t holdFrom 0.43%Network rate applies
ATM fee2 withdrawals, to 1,000 MYR/month free - then 5 MYR + 1.75%400 SGD withdrawals/month fee free, then 2%
Overseas transfersFrom 0.43%No fee ( send to YouTrip accounts only)

Fees correct at time of writing -26th July 2023

Go to Wise

Wise Vs YouTrip exchange rates

Wise and YouTrip work a little differently on exchange rates. Here is an overview of their conversion rates, and how you can check them:

Wise exchange rate

Wise uses the mid-market rate for currency exchange - that’s the exchange rate banks and money transfer services get themselves - and the one you’ll find using a currency conversion tool. All the costs you need to pay are shown separately so you can easily compare and check the total amount.

How to check Wise exchange rate?

Check Wise exchange rates conveniently online or in the Wise app. In the Wise app, you’ll need to tap the currency balance you want to convert from, then tap convert. Enter the currency you want to convert to, and you’ll be shown the exchange rate that’ll apply. Here you can enter the amount you want to convert - or the amount you want to finish up with in the destination currency, and you can instantly complete the conversion.

YouTrip exchange rate

YouTrip uses its own rate if you’re converting from one currency to another in the YouTrip app. You can see the rate in the app and compare it to the mid-market rate to see if any extra fee has been added here. If you’re spending a currency you don’t hold in your account with a YouTrip card, you’ll get the network rate, which is usually pretty fair.

How to check YouTrip exchange rate?

To check the YouTrip exchange rates for your currency pair you’ll need to log into the YouTrip app. From the home page, choose the currency pair you want to exchange - SGD to USD for example. You’ll be shown the live exchange rate and can then enter the amount you want to exchange to activate the transaction.

Wise Vs YouTrip: which is cheaper for international transfers? 

Whether Wise or YouTrip is cheaper for you will depend on the specifics of your transaction or transfer.

With Wise you can easily see all the fees you may pay for any specific transaction or transfer online or in app before you confirm. In fact, if you model your payment online you can even see the costs of a few other competitors - and if one is cheaper you’ll be shown that, too, so you can compare which is best for you.

YouTrip doesn’t have many fees to pay, but to get the full details of costs and exchange rates available you’ll need to register an account and download the app, as not all details are published publicly.

Go to Wise

Learn more about Wise fees.

Wise Vs YouTrip: which is faster for international transfers?

Wise money transfers are sent to other Wise accounts, and to bank accounts, and in some destination countries other payment options - like mobile wallets - are also supported. Wise to Wise payments are instant. 50% of Wise money transfers to banks are instant, and 90% arrive in 24 hours.

YouTrip offers transfers in 10 supported currencies to other YouTrip accounts. Transfers are instant and fee free.

How long it takes for an international bank transfer to be deposited depends on the destination, how you want to pay, and the value of the transfer.

Go to Wise

Wise Vs YouTrip international transfer limits

YouTrip transfers are sent from your YouTrip wallet, which has a holding limit of 5,000 SGD or the currency equivalent. There are also annual limits. You’ll be able to see all the details in the YouTrip app once you register an account.

Wise has transfer limits on some currencies, but they’re usually set very high - at around the equivalent of 1 million GBP - so people can transact freely. If you’re sending from MYR in Wise you can send up to 30,000 MYR a day as a Malaysian citizen  or expatriate, or up to 5,000 MYR a month if you’re a foreign worker. There’s also a holding limit of 20,000 MYR at the end of any given day.

Wise card vs YouTrip card limits

Both Wise and YouTrip have some limits which apply to card use, however the way these limits are set out does vary a little. Wise allows you to adjust your spending limits - daily and monthly, for security reasons, within the app. YouTrip has limits set out in SGD which apply daily and annually.

Here are the Wise card vs YouTrip card limits you’ll want to know about:

Provider/limitWise card limitsYouTrip card limits
ATM limit23,000 MYR/month5,000 SGD (or equivalent)/day
Spending limit170,000 MYR/monthUp to wallet amount, maximum annual spend of 100,000 SGD or equivalent

Ease of use

  • Creating an account: Create your account online or in-app with both YouTrip and Wise

  • Making a transfer: Wise typically allows local bank transfers and FPX payments, while YouTrip’s transfers are funded by the money you have on your wallet balance
  • Ways to send money: Send payments to other Wise accounts, or to your recipient’s bank account directly with Wise; with YouTrip you can send to other YouTrip accounts only

  • Languages: Wise offers 15 languages, plus multi-lingual support services; YouTrip is primarily offered in Singapore and Thailand
  • Minimum & maximum amounts: Wise sending limits can vary by destination country, and based on your account type. YouTrip’s  maximum payment limit is dictated by the wallet holding limits

Supported currencies

Wise accounts can hold 40+ currencies, YouTrip supports 10 currencies.

Go to Wise


Is Wise safe to use?

Wise is regulated by Bank Negara Malaysia in Malaysia. As a global business, Wise is also overseen by other regulatory bodies in the countries and regions in which it operates.

Is YouTrip safe to use?

YouTrip does not offer services to people living in Malaysia, but is licensed in Singapore by MAS, and in the other regions in which it operates. It is safe to use.

Can I apply for YouTrip in Malaysia?

At the time of writing, YouTrip is only available for residents of Singapore and Thailand. If you have a Malaysian residential address you can’t usually apply for YouTrip - you’ll need a local proof of ID and address in Singapore or Thailand, such as a Singpass account for Singapore, for example.

It’s also helpful to know that YouTrip doesn’t support holding a balance in MYR - you’ll need to top up your account in a supported currency like SGD and allow the card to convert for you when you spend in Malaysia.

Is YouTrip or Wise better?

Which is best for you may depend on your circumstances. As we’ve seen, YouTrip isn’t usually available for Malaysian residents.

If you’re based in Singapore or Thailand you can apply for a YouTrip card and use it to spend in Malaysia if you like. However you can’t hold a MYR balance which means you won’t be able to see how much your travel budget is in MYR in advance. On the upside, YouTrip does use the network exchange rate to convert to MYR which is usually pretty fair.

Wise is offered to Malaysian residents and supports holding a balance in MYR as well as about 40 other currencies. You can spend and make cash withdrawals with your Wise card in 150+ countries and you’ll get the mid-market rate for currency conversion where it's needed. This makes Wise a flexible and low cost option for payments and withdrawals in Malaysia and globally.

Conclusion: Comparing Wise and YouTrip in Malaysia

The main thing to bear in mind when comparing these popular providers is that while Wise is available for residents in Malaysia, YouTrip is not.

If you’re not a Malaysian resident and live in Singapore or Thailand, it’s well worth checking out the services on offer from YouTrip, but if you’re living in Malaysia you’ll not be able to apply at the time of writing. Keep a look out for YouTrip’s planned expansion to Malaysia so you can apply when the service becomes available.

Wise is available in Malaysia with accounts you can open for free online and in the Wise app. Hold 40+ currencies and spend and withdraw with your Wise card in 150+ countries. You’ll also be able to get local bank details to get paid for free in MYR, and can hold a ringgit balance in your account - so you can use your account freely when you’re at home and whenever you need to travel.

Go to Wise

Wise vs YouTrip FAQs

What is the difference between Wise and YouTrip?

Both Wise and YouTrip offer digital multi-currency accounts and cards. However, YouTrip isn’t available for Malaysian residents. Wise accounts can hold 40+ currencies, spend in 150+ countries, and send payments to 160+countries. You’ll also get easy ways to get paid by others in foreign currencies, including ringgit. YouTrip accounts can hold 10 currencies, and you can spend with your YouTrip card in 150+ countries.

Which is better: Wise or YouTrip?

Neither Wise nor YouTrip is better - it all comes down to what services you’re looking for and where you are. If you’re a Malaysian resident you can’t open a YouTrip account right now. If you’re based in a country where both providers are supported, it’s worth looking at the features and fees of each to see which is best for your specific needs.

Is Wise or YouTrip cheaper?

Whether Wise or YouTrip is cheaper for you will depend on the services you need. Compare them both based on the transaction types you need to make, to pick the right one for you.

Is Wise or YouTrip faster?

Wise to Wise transfers are instant - Wise also offers fast international payments to bank accounts in 160+ countries, which can even arrive instantly. YouTrip offers transfers to other YouTrip accounts only, which arrive instantly.

How many currencies do Wise and YouTrip support?

Wise accounts can hold 40+ currencies, YouTrip supports 10 currencies.

Is the YouTrip exchange rate good?

You’ll be able to view the YouTrip exchange rate in the YouTrip app. For currencies supported for holding a balance, wholesale rates, plus a margin of up to 0.1% are used. For unsupported currencies, the card network rate is used. In both cases, this reflects a pretty fair rate for customers. Compare the YouTrip rate with alternatives such as the Wise card rate, to see which is best in your specific circumstance.