Wise Card Review for Malaysia 2024

Claire Millard
Şeyma Mektepli
Last updated
22 November 2023

Wise launched in 2011 with a mission to challenge the banks and make transacting internationally cheaper, faster, and easier - with no hidden charges or sneaky exchange rate hikes.

Wise offers a range of products including instant low fee international payments, multi-currency accounts, and Wise international debit cards.

This Wise debit card review covers all you need to know about the Wise card features, fees, availability and more.

Go to Wise

Table of contents:

Quick summary: Wise card in Malaysia

There’s an in-depth Wise debit card review coming up - first let's look at the key features, pros and cons of the Wise debit card.

Green Wise card

Wise card features

  • Hold and exchange 40+ currencies in your Wise account

  • Spend in 150+ countries, withdraw at 2.3 million ATMs

  • Convert currencies in your account with the mid-market exchange rate and low fees

  • Wise virtual cards available instantly in Malaysia

  • View and manage your account in the Wise app

  • Freeze and unfreeze your physical card and virtual cards instantly from the Wise app

  • Wise is regulated by Bank Negara Malaysia and overseen by authorities all over the world

Pros and cons of the Wise debit card

Pros of the Wise debit cardCons of the Wise debit card

✅ No annual or monthly card charges to pay

✅ Free to spend any currency you hold in your account

✅ Auto convert function to cut costs even if you don’t have the currency you need

✅ 2 free ATM withdrawals, to the value of 1,000 MYR per month, with low fees after that

✅ Get instant virtual cards for easy spending and budget management

✅ Not a credit card - no risk of interest charges creeping in

❌ One time 13.7 MYR fee to get your card in the first place

❌ Some ATM fees apply when you make 3 or more withdrawals, worth more than 1,000 MYR/month

❌ Daily and monthly limits based on spend category

❌ Top up account online or in app only - no cash or cheque options

❌ No credit facilities

Go to Wise

Who is the Wise debit card for?

The Wise debit card is a great way for lots of people to manage their money conveniently - and cut transaction costs at the same time.

The Wise debit card is a perfect fit for:

  • Travellers looking to make contactless or mobile payments

  • Anyone on holiday who wants to withdraw cash cheaply from local ATMs

  • People who love to shop online with international retailers

  • Anyone who wants a low cost, secure account with both virtual and physical cards

Is the Wise card worth it?

Wise is intent on revolutionising the way people transact internationally, to make it cheaper, faster and more convenient compared to traditional banks.

The Wise card is a great addition to Wise’s suite of products, offering easy ways to spend in person, on the move, and online, and make ATM withdrawals, with the midmarket exchange rate and low, transparent fees.

Wise app and card with a bridge in the background

How do Wise card fees compare for spending abroad?

Spending in foreign currencies with a Wise card could be significantly cheaper compared to using your regular bank’s debit card.

Your regular bank is likely to add a foreign transaction fee to every purchase or withdrawal you make in a different currency - this is often in the region of 3% of the cost of the transaction.

Wise on the other hand uses the midmarket exchange rate with low fees which average out at about 0.6% for most transactions. That means that you can cut your costs whenever you use a Wise debit card to shop when you travel, spend with international ecommerce stores, or make a cash withdrawal overseas.

Go to Wise

What is the Wise card?

The Wise card is a debit card - not a credit card - that’s linked to a Wise multi-currency account. It’s great for spending and making cash withdrawals, online, at home and abroad - and best of all, you’ll get currency conversion using the mid-market exchange rate whenever you choose to spend in a foreign currency.

How to use the Wise card

The Wise card can be used for online and in-store purchases in 150+ countries. You can get a Wise card in Malaysia, and spend internationally. Here are some ways you can get the best out of your Wise card:

  • Make payments and withdrawals in 150+ countries

  • Use 2.3 million ATMs for withdrawals, all around the world

  • Top up in the currency you prefer and check your account balances at a glance in the app

  • Switch currencies with the mid-market exchange rate and low, transparent fees

  • Spend any currency you hold in the account for free

  • Auto convert feature makes sure you pay the lowest possible fee when spending currencies you don’t hold in your account

  • Instant transaction notifications for security

  • Get instant access to virtual cards

  • Freeze and unfreeze your card whenever you need to

  • Debit card - making it easier to manage your budget without running up debts or incurring credit charges

Go to Wise

Can I use my Wise card abroad?

Yes. Your Wise card has been optimised for international use, including payments in person, mobile payments using a wallet like Apple Pay, cash withdrawals, and online shopping. More about how to use Wise for these transactions, later.

Learn more about using your Wise card abroad here.

How to withdraw money from Wise card

It’s free to withdraw up to 1,000 MYR/month, with fees of 5 MYR + 1.75% after that. Here’s how to withdraw money using your Wise card:

  • Check the ATM you’ve picked supports the network your Wise card has been issued on

  • Insert your Wise card into the ATM

  • Follow the prompts to confirm you want to withdraw cash

  • Enter the amount you want to withdraw

  • Enter your PIN - this can be found in the Wise app

  • Your cash will be dispensed

Wise virtual card

The Wise virtual card - also known as the Wise digital card - allows you to make payments online and in stores with your phone. Simply add your virtual card to a mobile wallet like Apple Pay or Google Pay, to make contactless payments in stores and buy things online. You can have up to 3 virtual cards at any one time which can make it easier to manage your budget by assigning different spending types to different cards.

Wise virtual cards have different card details to your physical card, and can be frozen instantly whenever you’re not using them - offering a handy added layer of security. You’ll be able to start using your Wise digital card as soon as you order your physical card, with no need to wait for the physical card to be delivered.

How to pay with Wise digital card

The Wise virtual card is available in Malaysia, and can be accessed as soon as you’ve ordered your Wise physical card.

Here’s how to set up and start spending with the Wise virtual card:

  • Open the Wise app and tap Cards

  • Click Get a digital card

  • Your Wise virtual card will be shown, so you can add to a wallet like Apple Pay, or use the virtual card details for online spending

Using Wise card with Apple Pay in Malaysia

You can use Apple Pay in Malaysia with your Wise card. That means you can make contactless payment with just your phone or other iOS device.

Here’s how to set up and start spending using Apple Pay and Wise:

  • Open the Wallet app on your Apple device

  • Add your Wise card by scanning it with your phone’s camera, or by entering the details manually.

  • Set up a screen lock on your device if you don’t already have one

  • You’re ready to go - just tap and pay next time you want to make a mobile payment with your phone!

Wise multi currency account

How does the Wise card work?

The Wise international debit card is linked to a Wise multi-currency account, which lets you hold, exchange, receive and send payments in 50+ currencies. Order a linked Wise debit card to make it easier to spend and make cash withdrawals from your Wise account balance, all over the world.

It’s free to spend currencies you hold in your account. And if you don’t have the currency you need in your account, the Wise debit card can automatically convert the amount for you from whichever available currency account has the cheapest conversion fee. That means that there’s no need to worry about converting money before travelling, because you’ll know you’re getting the best available deal.

Go to Wise

Wise card limits

Your Wise card comes with default set limits which you can change if you would like to. Daily and monthly limits apply - daily limits refresh each day at midnight, while monthly limits restart on the first day of each calendar month. If you’re not happy with the default limits it’s easy to change them to suit you - just log into your account on the Wise app or desktop site.

Here’s a rundown of the standard Wise personal debit card limits by transaction type:

Transaction typeSingle transaction limitDaily limit
Chip and PIN or mobile wallet like Apple Pay or Google Pay

Default: 14,000 MYR

Maximum: 57,000 MYR

Default: 17,000 MYR

Maximum: 57,000 MYR

ATM withdrawal

Default: 5,700 MYR

Maximum: 5,700 MYR

Default: 8,600 MYR

Maximum: 8,600  MYR


Default: 2,900 MYR

Maximum: 2,900 MYR

Default: 2,900 MYR

Maximum: 5,700  MYR

Magnetic stripe

Default: 1,700 MYR

Maximum: 6,900 MYR

Default: 2,300 MYR

Maximum: 6,900  MYR

Online purchase

Default: 5,700 MYR

Maximum: 5,700 MYR

Default: 5,700 MYR

Maximum: 5,700MYR

Transaction typeMonthly limit
Chip and PIN or mobile wallet like Apple Pay or Google Pay

Default: 57,000 MYR

Maximum: 170,000 MYR

ATM withdrawal

Default: 17,000 MYR

Maximum: 23,000 MYR


Default: 23,000 MYR

Maximum: 23,000 MYR

Magnetic stripe

Default: 6,900  MYR

Maximum: 34,000 MYR

Online purchase

Default: 11,500 MYR

Maximum: 170,000 MYR

Wise card fees

The Wise card doesn’t have monthly or annual fees. There is only a one time order fee of 13.7 MYR.

Here’s a rundown of all the fees you can expect to meet when ordering and using your Wise multi-currency debit card:

ServiceWise debit card fee
One time card order fee13.7 MYR
Digital cardFree
Order a new card13.7 MYR
Replace an expiring cardFree - Wise will remind you when you need a new card for convenience
Spend currencies you hold in your accountFree
Spend in currencies you don’t have in your accountWise will auto convert the balance you have to the currency you need, using the mid-market exchange rate and the lowest available fees
First 2 ATM withdrawals a month, up to the value of 1,000 MYRFree
Additional withdrawals, over the value of 1,000 MYR/month5 MYR per withdrawal + 1.75% of the withdrawal value
Go to Wise

Wise exchange rate

Wise was created with a mission to make currency conversion cheaper and more transparent. Every time you switch currencies with Wise you’ll get the mid-market rate with no hidden markup - when you spend with your Wise debit card, convert currencies within your Wise account, or send an international payment.

This is different to banks and most other international card providers. Typically, the exchange rates you get from other providers will include a markup which is added onto the exchange rate used. That’s an extra fee, but it’s hard to spot and pushes up the prices you pay without you necessarily knowing it. To avoid this tricky fee, Wise uses the mid-market exchange rate and splits out the full costs of currency conversion for transparency. You’ll be able to see the full fees you pay when you switch currencies within your account - and if you use the card’s auto convert feature, you can be sure the transaction will be processed with the lowest fee possible.

How to get your debit card

Here’s how to get a Wise card in Malaysia in just a few simple steps:

  • Open a Wise account online in just a few minutes

  • Top up your Wise account in the currency of your choice

  • Order your Wise card for a one time 13.7 MYR fee

  • Start spending with your digital card right away

  • Your physical card will arrive in the post within 2 weeks

If you don’t already have a Wise multi-currency account it’s good to know you can register in just a few minutes using your email address, Facebook, Apple or Google ID.

You’ll also need to complete a verification step for security - all you’ll need for this is your passport or Mykad. Your account can be up and running as soon as it’s been verified - which is often instant, or at least within 24 hours of registering.

Get your Wise debit card

Wise card delivery time in Malaysia

The physical Wise card should arrive in the post to your registered Wise address in about 2 weeks. Don’t forget, you can use your Wise virtual card instantly once your physical card is ordered.

How to activate your Wise card in Malaysia

Once your physical card arrives in the post you’ll need to activate it. This is done simply by making a purchase using your PIN number - or if you’d prefer you can make a cash withdrawal or check your balance in an ATM. You’ll be able to find your PIN, as well as your card number and CVV code, in the Wise app at any time.

How to top up your Wise card

Your Wise debit card is linked to your Wise multi-currency account. To add money to your Wise account you’ll need to take the following steps:

  • Log into your Wise account online or in the Wise app

  • Select the currency balance you want to top up

  • Tap Add

  • Confirm the currency you want to pay with

  • Enter the amount you want to top up and select a payment method

  • Check everything over, confirm and follow the prompts to complete the payment

You can also add money to your Wise account directly from your online banking service using your local bank details for eligible currencies. In Malaysia, that means you can top up fee free in:

  • British pounds

  • Euros

  • US dollars

  • Australian dollars

  • New Zealand dollars

  • Singapore dollars

  • Canadian dollars

  • Malaysian ringgit

  • Hungarian forint

  • Turkish lira

Log into your Wise account to see the local bank details for your preferred currency and use these to transfer money direct from your bank account in that currency.

Wise card countries: Where is the Wise card available?

If you have a Wise account and are a resident of any of the following countries and regions, you can apply for a Wise debit card:

  • The EU and EEA

  • The UK

  • The US

  • Canada

  • Singapore

  • Malaysia

  • Japan

  • Australia

  • New Zealand

  • Brazil

Is Wise card safe to use?

Yes. The Wise card is safe to use. As a company, Wise is regulated by Bank Negara Malaysia, as well as being covered by regulatory bodies all over the world. That means that no matter what currencies you hold on your Wise debit card, you know your money is kept safely and in accordance with global laws and best practices.

Wise accounts have a range of security features including thorough verification processes, 2 factor authentication and a 24/7 fraud prevention protocol. Additionally, Wise debit cards can be frozen instantly in the Wise app if you’re concerned about security, with real time transaction notifications and the option to check your balance and account history in a glance in the app.

Go to Wise

Wise card vs credit card

If you’ve already got a credit card you use regularly from a Malaysia bank you may be wondering what the difference is between Wise vs credit cards.

Overall, using your Wise card when you’re spending internationally may work out cheaper than spending and making withdrawals with your credit card. That’s because Wise has no foreign transaction fee and no cash advance fee, plus currency exchange can cost as little as 0.43%. However, with the Wise card you won’t earn cashback or rewards points as you might with your normal credit card - and there’s no option to spread the cost of your spending out over several months as there is with a credit card, either.

Here’s a summary of Wise vs credit cards to consider:

Wise cardCredit card
  • No ongoing fees to pay

  • No interest costs - but you can’t buy now and pay later, either

  • Currency exchange uses the mid-market rate and fees from 0.43%

  • Limited options for earning cashback or rewards

  • Annual fees may apply

  • Interest costs apply if you don’t clear your bill in full

  • Foreign transaction and cash advance fees may apply

  • Earn rewards or miles, depending on the card you pick

Whether Wise vs credit cards are better for you will depend on the way you use your account, and your own personal preferences. Use this guide to learn more about the Wise debit card, and compare with your current credit card to help you decide.

Get a Wise card

Conclusion: is the Wise card worth it?

The Wise debit card can make life easier - and help you save money - if you travel often, or love to shop with international e-commerce stores.

Wise currency exchange uses the mid-market exchange rate with no markup and no hidden fees - and with the Wise debit card’s smart auto convert feature you don’t even need to switch currencies before you travel. Leave the Wise card to switch to the currencies you need, when you need them, with the lowest possible fee every time.

Wise debit card review Malaysia FAQs

Is the Wise card a credit card?

The Wise card is an international debit card, linked to a low cost multi-currency Wise account.

More information: Is Wise card debit or credit?

Can the Wise card be used in Malaysia?

Yes, you can order a Wise card in Malaysia and use it for spending at home and abroad.

Can I use my Wise card abroad?

Yes. In fact, the Wise card can help you cut the costs of currency conversion when you spend and make withdrawals in over 150 countries around the world.

More information: How to use Wise card abroad

Is the Wise card contactless?

Yes. The Wise international debit card is contactless for convenient spending.

Is the Wise card on Mastercard or Visa?

The Wise card is issued on a globally accepted network - usually Mastercard. You’ll be able to check the network your card is issued on by looking for the logo on the physical card.