Wise Limits 2024: Full Guide
Wise offers residents in Malaysia multi-currency digital accounts and payment cards as well as low-cost money transfers to 160+ countries. If you’re new to Wise, and wondering how you can use their accounts and services, it’s helpful to know about some of the Wise limits that are in place to help keep customers and their money safe. This guide walks through all you need to know about Wise transfer limits, Wise account limits and Wise card limits.
Quick summary
Wise money transfers are subject to some limits which vary by currency and depending on how you want to pay
Wise uses fairly high limits, and offers a service which is safe for holding and sending even large amounts
Wise accounts have very high limits - or even no limits at all - on the amount of money you can receive and hold
Wise cards have limits based on transaction type, which can be easily viewed and managed within the Wise app and online
Does Wise have limits?
Yes. Wise has some limits in place, which can vary for different transaction types, and based on where your account is registered. There are limits on how much you can send with Wise and spend with your Wise card. In some cases there are also limits on how much you can receive with your Wise account.
Wise limits are set to help keep customers and their accounts safe. Generally they’re pretty high, but if you need to make a big purchase, or send a very high payment it’s worth double checking which limits apply to your Wise account for that specific transaction type.
Overall, the limits used for account transactions and transfers is part of the way that Wise ensures it is safe for customers to hold, send and spend even large amounts.
All Wise limit information in this guide is correct at time of writing - 22nd September 2023. As limits may change from time to time, you may want to double check the details which apply to your specific transaction on the Wise website or in the Wise app.
Wise transfer limits
Wise money transfer limits can vary depending on the currency you’re sending from and to and how you choose to pay. If you’re ever unsure of the limit which applies to your account, you’ll be able to check it in the Wise app, or reach out to the Wise customer support team for more detailed information.
Let’s take a look at the Wise money transfer limits by payment type. If your residential address is in Malaysia, your Wise transfer limits will be as follows:
| Wise Account Type | Wise Transfer Limit |
|---|---|
Wise Personal Account | Malaysians and expatriates are allowed to send 30,000 MYR per day for cross-currency transfers. If you are a foreign worker, you can send up to 5,000 MYR to 5 recipients in your home country per month. |
Wise account limits
Malaysian customers can open a Wise account as a personal customer and hold and exchange 40+ currencies, and open local account details in up to 10 currencies to receive payments. You can also get a linked Wise card which can be used for spending and withdrawals in 150+ countries - we’ll look at Wise card limits in detail in just a moment.
To keep customers and their money safe, Wise has a few limits to the amount you can receive or hold in your account. These limits vary based on the currency involved, and where your residential address is.
Learn more: Wise account review
Wise account receiving limits
Once you have a Wise account you can get local account details in up to 10 currencies to get paid conveniently by others.
All you’ll need to do is open a currency balance in the currency you need through the Wise app, to generate your local account details. Pass these to the person sending you money, and they can use these details to set up their transfer in their preferred way. It’s free to receive money in many cases - the main exception being that there’s a 4.14 USD fee per transaction to receive USD wire transfers and a 10 CAD fee per transaction for receiving CAD SWIFT payments. More info: Wise fees
Malaysian residents can hold no more than 20,000 MYR in their account by the end of each day. This also includes all of the money you hold across all currencies on your Wise balances.
Related: How to receive money internationally with Wise
Wise card limits
Once you have opened your Wise account you can order a Wise card for a one time fee, and have it delivered to your home. You’ll be able to spend with your Wise card in 150+ countries, with no fee to spend a currency you hold enough balance in your account.
If you don’t have the currency you need, your card can simply convert from the balance you do hold, using the mid-market exchange rate and a low fee from 0.43%. The card’s smart autoconversion feature will deduct the funds needed from the currency balance you hold which incurs the lowest possible fee. Learn more: Wise card review
That means you can just add money in MYR - or any of the other 20 or so supported currencies for top up - and spend conveniently around the world. There’s no need to switch to the local currency wherever you’re heading in advance - and you’ll always know you’re getting the best available deal wherever you go.
To ensure customer accounts are secure, there are some Wise card limits which vary based on the type of transaction. Your card limit is set to a default automatically, and you can then adjust it, up to the maximum level allowed for that transaction type, within the Wise app.
Here’s a rundown of the standard Wise personal debit card limits by transaction type:
| Transaction type | Single transaction limit | Daily limit | Monthly limit |
|---|---|---|---|
| Chip and PIN and mobile wallet | Default: 14,000 MYR Maximum: 57,000 MYR | Default: 17,000 MYR Maximum: 57,000 MYR | Default: 57,000 MYR Maximum: 170,000 MYR |
| ATM withdrawal | Default: 5,700 MYR Maximum: 5,700 MYR | Default: 8,600 MYR Maximum: 8,600 MYR | Default: 17,000 MYR Maximum: 23,000 MYR |
| Contactless | Default: 2,900 MYR Maximum: 2,900 MYR | Default: 2,900 MYR Maximum: 5,700 MYR | Default: 23,000 MYR Maximum: 23,000 MYR |
| Magnetic stripe | Default: 1,700 MYR Maximum: 6,900 MYR | Default: 2,300 MYR Maximum: 6,900 MYR | Default: 6,900 MYR Maximum: 34,000 MYR |
| Online purchase | Default: 5,700 MYR Maximum: 57,000 MYR | Default: 5,700 MYR Maximum: 57,000 MYR | Default: 11,500 MYR Maximum: 170,000 MYR |
How to change spending limits on Wise card
If you want to change the limits on your Wise card, you can do so conveniently in the Wise app or by logging into your account online.
Here’s how to change your Wise card limits in the Wise app:
Log into your account and go to the Card tab
Tap Limits and select the limit you’d like to change
Tap the button at the bottom to change to the maximum or default limits
And here’s how to change your Wise card limits if you’re using the Wise website:
Log into your account and go to the Card tab
Select Account limits and choose the limit you'd like to change
Select the button at the bottom to change to the maximum or default limits
How to check Wise card limits
Not sure how much you’ve got left on your Wise card limit? You can easily check this online or in the Wise app.
Here’s how to check your Wise card limits in the Wise app:
Log into your account and go to the Card tab
Tap Limits and select the limit you’d like to check
You’ll be shown the limits that apply, how much you can still spend or withdraw, and when each limit will reset
And here’s how to check your Wise card limits if you’re using the Wise website:
Log into your account and go to the Card tab
Select Account limits and choose the limit you'd like to check
You’ll be shown the limits that apply, how much you can still spend or withdraw, and when each limit will reset
Conclusion: Does Wise have limits?
Wise has some limits in place, which can vary depending on the currency involved and the transaction type. Wise account and card limits are set to help keep customers accounts safe and secure, and can be viewed and managed conveniently in the Wise app.
Depending on the type of account you have, you may find there’s no limit to the amount of money you can receive or hold in your Wise account. Some limits apply to Wise money transfers, but these are usually set fairly high to offer safe ways to send even larger amounts of money overseas. Finally, the Wise card has limits which can vary by transaction type, and which you can easily view and change in the Wise app whenever you need to.
Related: How does Wise work?