Wise Euro Account Review [2024]

Tarah Ren
Şeyma Mektepli
Last updated
28 November 2023

If you’re travelling to any of the 20 countries that use the euro - or if you shop online with retailers based in the euro area - having an account which lets you hold, exchange and spend EUR can help cut currency conversion costs.

Wise offers an intuitive online and in-app euro account you can use to hold, send, receive and manage euros alongside Malaysian ringgit and 40+ other currencies for convenience.

This comprehensive review walks through key features of the Wise euro account, including exchange rates, fees, account security, and what else you can do with a Wise multi-currency account.

Wise Euro account: Key points

  • Online account opening, onboarding and management

  • Add money to your account in Malaysian ringgit*, euros, or any of the +20 supported top up currencies

  • 40+ currencies supported for holding and exchange

  • Currency conversion with the mid-market exchange rate and low fees from 0.43%

  • International debit card for easy spending in 150+ countries

  • Receive payments to your account in euros, dollars and up to 9 other currencies, with your own local bank details

  • No foreign transaction fees when spending overseas

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*Only Malaysian residents can top up their MYR balance directly by MYR

Pros and cons of a Wise Euro account

Pros and Cons of Wise Euro account

✅ Accounts have no ongoing or monthly fees

✅ Euros, Malaysian ringgit and 40+ total currencies supported for holding

✅ Mid market rate on all currency exchange

✅ Spend in 150+ countries with your Wise card

✅ Get paid in euros and 9 other currencies with local bank details

✅ Send payments to 160+ countries or 50+ currencies with no hidden fees


❌ 13.7 MYR fee to get a linked Wise debit card 

❌ Fees apply to ATM withdrawals once you exhaust your plan limits

❌ Variable fees to convert currencies

What is a Wise Euro account?

With a Wise euro account you can hold, send, spend, receive and exchange euros alongside 40+ other currencies.

You can add money to your account in euros or another of the Wise supported currencies, to spend conveniently in EUR with your Wise card, or to send money overseas. That can be handy if you’re travelling, if you shop online and pay in euros, or if you have invoices or bills to pay abroad.

Wise euro accounts also have the bonus that you can activate bank details to receive EUR, so people from the euro area can pay you in euros as easily as they would someone living locally in the Eurozone. Sending a local payment is usually cheap or free for the sender, and it’s free for you to receive a euro transfer to your Wise account, too.

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Wise Euro account details

If you’re seeking an easy way to transact with the Euro, Wise's Euro account is a great solution. It offers local Euro account details, meaning you can receive Euros as if you were living right in the heart of the continent. While it’s important to note that this isn't a traditional bank account, it essentially works in the same way.

When setting up your Wise Euro account, you're provided with:

  • An account Name

  • IBAN (International Bank Account Number): A standardised international numbering system crucial for international transactions.

  • SWIFT/BIC Code: Needed to facilitate international payments, ensuring that your transfers land in the right account.

To receive Euros, simply share these details with the party intending to pay you. They can transfer the funds via SEPA bank transfers (typically taking 0–2 working days) or SWIFT (usually 4–5 working days). For those receiving from outside the EU SEPA zone, there are specific SWIFT details to ensure a smooth transaction.

A standout feature is the Direct Debit setup. Share your Wise Euro account details with businesses, permitting them to deduct regular payments from your account — be it for monthly subscriptions or recurring bills.

Lastly, for Malaysian citizens managing finances in multiple currencies, the Wise account is a great option. Hold money in over 40 different currencies (including Euros), transact seamlessly, and when you spend, Wise converts at the mid-market exchange rate without any hidden fees.

So, if you're juggling financial commitments between Malaysia and Europe, or simply wish to have an efficient Euro transaction avenue, Wise's Euro account might be a good fit.

Can I open a Wise Euro account in Malaysia?

Yes. You can open a Wise euro account in Malaysia as a personal customer. Learn more about Wise multi-currency account here.

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How to open a Euro account in Wise

Follow these simple steps to set up your Euro account with Wise:

  • Step 1: Register

Quickly create your Wise account online or through the Wise app. All you need is an email address, or you can sign up using your Google, Facebook, or Apple account.

  • Step 2: Verify Your Identity

You'll be prompted to confirm who you are. Just upload a picture of your ID and a selfie. If you're using your smartphone, it's super easy with guided prompts. Don't worry if you don't have everything ready; you can pause and come back later. And if you're stuck, the Wise team is there to help.

  • Step 3: Open Your Currency Balance

After verification, it's time to open your desired currency balance. Just log in, click 'Open a balance', find the Euro (or any other currency you want), and select it.

Once you've set up your Euro account with Wise, it becomes a versatile tool in your financial arsenal. You can hold Euros, receive payments from others, or pay businesses abroad without the fuss of traditional banking. The idea is to make dealing with Euros as straightforward as dealing with Malaysian ringgit, right from the comfort of your home or anywhere in Malaysia. It's like having a bit of Europe in your pocket!

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How can I activate a euro account in Wise?

To activate a euro account with Wise you’ll need to open a Wise account and then add a euro currency balance. The process is pretty straightforward and can be done from your phone or laptop.

Here’s how to open a Wise account and activate a Wise euro currency balance:

  1. Download the Wise app, or open the Wise desktop site

  2. Register with your email address, or an Apple, Google or FaceBook account

  3. Follow the prompts to enter your personal details

  4. Upload your ID documents for verification

  5. Once your account is verified, tap Open in the app homepage

  6. Select Currency Balance and tap EUR to open your euro account

  7. Top up your Wise balance, complete any required security step, and you’re done!

When is a Wise Euro account needed?

A Wise euro account can be handy for both personal and business use. Having a euro account means you can hold a euro balance which is great if you’re planning travel, or if you have bills to pay in euro. It can also make budgeting for your holidays easier, as you’ll be able to add money in pounds and switch to euros in advance, so you know exactly what you have to spend.

Wise euro accounts also offer linked Wise international debit cards which you can use to spend globally. If you have euros in your account already and you’re spending in the euro area, there’s no fee - if you don’t have euro the card can convert from your account balance automatically, with the lowest available fees instead. Having a Wise debit card for travel is convenient and safe for personal account holders - and business customers can also order and issue expense cards to their team to manage international business spending in euros.

When you open your Wise euro account you’ll also be able to get euro bank details to receive payments to your account. If a friend needs to send you money you can simply give them these details to be paid in euro. Or, if you’re a business owner or freelancer, you can use your euro details to be paid by customers and clients. Once you have a euro balance, withdraw it back to your Wise MYR account with mid-market exchange rates, or hold it as euro and use it to spend with your linked card, or to send on to others, to cover invoices or pay employees for example.

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Learn more: How to get a Wise card

How does the Wise Euro account compare?

Malaysian customers have a good selection of options when it comes to euro accounts for day to day use. If you’re not sure whether the Wise euro account is right for you, it’s worth comparing a few alternatives - here’s an overview of Wise vs a couple of top picks: Revolut and HSBC.

Wise euro accountRHB Multi Currency account HSBC Global account
Availability in MalaysiaAvailable to personal customersDifferent account available to both personal and business customersPersonal customers - regular, advance and premier account options
Global usageYYY
Conversion feesFrom 0.43%No currency conversion feeNo HSBC fees for supported foreign currencies
Exchange rate feesNo fees; mid-market exchange rateExchange rate might include a markupVaries; live rates during market hours
Other fees13.7 MYR fee to get a card

20 MYR annual fee to get debit card

USD 200 minimum initial deposit or its equivalent

No account opening or minimum requirements fees or transfer fees; exchange rate markups apply
Linked Debit CardYYY
Best Features

Supports 40+ currencies

Local receiving account details for 10 currencies

Supports 32 currencies

Banking features and solutions to help you manage your finances  

Hold 11 currencies in one account

Manage everything securely from your phone

Different euro account options have their own features and fees which might make them suited to specific customer needs. The Wise euro account offers impressive flexibility, with euros alongside 40+ other currencies, plus mid-market rate currency conversion. RHB’s multi-currency account offers fee-free conversions, supports over 30 currencies and provides financial management tools, while HSBC’s global account lets you set up a euro account and hold up to 11 currencies, all while managing everything from your phone.

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Wise Euro Account fees

There are a few fees you’ll want to know about before you start using the Wise euro account - here’s a rundown of the key Wise fees to consider:

Wise euro account
Create accountNo fee 
Account monthly feeNo fee
Fee to receive payments in euroNo fee with local account details
Fee to spend a currency you holdNo fee
Exchange rateMid market rate, low conversion fees from 0.43%  
Send paymentsTransparent fees from 0.43%
Fee to receive card13.7 MYR
ATM fees

2 withdrawals to the value of 1000 MYR per month for free. 

1.75% ATM fees over 1,000 MYR per account + 5 MYR per withdrawal

Virtual cardsNo fee
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Wise Euro exchange rate

Wise uses the mid-market exchange rate to convert to and from euros, with low fees you’ll see in the app or online when you convert funds. The mid-market rate is the one you’ll find on Google or with a currency conversion tool, and Wise splits out all fees transparently which makes it easier to see the full costs you pay when you convert or send payments in foreign currencies.

How does the Wise Euro account work?

Here’s a summary of how you can create and use the Wise euro account:

  • Account Creation: Sign up for a Wise euro account online or by downloading the Wise app. You’ll just need to register, provide some basic personal information and upload images of your ID and proof of address for verification and security

  • Fund Transfers: Once the account is set up, you can transfer funds into your Wise euro account from your bank account or with a card. You may also be able to use a mobile wallet like Apple Pay

  • Sending and Receiving Payments: The Wise euro account allows users to send and receive euro payments domestically and internationally, using the mid market exchange rate for conversion, plus a low fee. Get your local bank details from the Wise app, and give them to anyone sending you money - and send payments conveniently on the move with the Wise app

How to receive Euro in your Wise account

Navigating the intricate corridors of international finance can be daunting, but with Wise, receiving money from anywhere in the world gets a lot simpler. By sharing your Wise account details with friends, companies, or clients, you can effortlessly receive payments just as you would with a regular bank transfer.

Receiving through Bank Account Details:

Available Currencies: You can currently acquire account details for receiving in MYR, USD, GBP, EUR, AUD, NZD, CAD, HUF, RON, TRY, and SGD, with more currencies set to roll out in the future.


  • Launch your Wise account and select the currency you want to receive your funds.

  • Choose for the 'Receive' option. Mobile users can locate this under the 'More' tab.

  • For first-timers, click on 'Get account details' and complete the necessary requirements.

  • Share these details with the individual or entity sending you money.

  • Once processed, the funds will appear in your account balance.


  • There's typically no charge to receive payments through your Wise account details. The sole exceptions are US wire payments, which carry a fee of $4.14 USD and CAD SWIFT transactions at 10 CAD.

Receiving Through Payment Requests: For those who prefer a more proactive approach, Wise also allows users to request payments. These requests can be made in the currencies for which you hold account details, including euros. The payer can then fulfil this request either from their Wise balance or directly through their bank account.

Learn more: How to receive money with Wise

How to use the Euro account abroad

You’ll be able to access your Wise euro account when you’re overseas, by logging in online or using the Wise app. Get a Wise card and you can also easily spend and withdraw when you’re away from home, with instant transaction notifications on the Wise app for security.

Learn more: How to use Wise card abroad

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What is the eligibility for a Wise Euro account?

To open a Wise euro account you’ll need to be able to provide proof of ID and address for verification purposes. You’ll also have to be aged over 18. It’s also important to note that only Malaysian residents can top up their MYR balance directly by MYR.

This guide walks through setting up the Wise euro account for Malaysian customers - but the Wise euro account is also available to people in a broad range of other countries worldwide, subject to account verification processes. Head over to the Wise website to get the details if you’re in a different country.

Who is it good for?

The Wise euro account has broad international functions, making it handy for a range of people:

  • Frequent travellers and anyone shopping online and paying in euros or 40+ other currencies

  • Anyone sending payments overseas digitally, for personal or business purposes

  • Customers looking to manage their travel budget by locking in exchange rates in advance

  • Business owners who want to issue international expense cards to their teams

  • Freelancers, entrepreneurs and individuals getting paid in foreign currencies

  • Anyone looking for a flexible account that can be opened and managed with just a phone

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Is a Wise Euro account safe to use?

The Wise account is safe to use. Wise is a fully regulated and trusted provider, regulated by the Bank Negara Malaysia. As a global company, Wise is also regulated by various financial authorities around the world, ensuring compliance with robust security measures and data protection standards. Wise also uses Two-Factor Authentication (2FA) which adds an extra layer of security.


You can open your Wise euro account in Malaysia, or from a broad range of other countries using a local proof of address and ID. The Wise international debit card is issued on either the Visa or Mastercard network, and can be used in 150+ countries, wherever you see your card’s network logo.

Other available currencies

Wise supports over 40 other currencies as well as euros and dollars, allowing users to hold and transact in multiple currencies, including major global currencies such as MYR, GBP, Australian, Canadian and US dollars, and other European currencies such as NOK, SEK, RON and HUF.

Related: Wise USD account review

Wise Euro account limits

Malaysian users (those registered with Wise with a Malaysian address) can’t hold more than 20,000 MYR in their account at any given day. That’s because Bank Negara Malaysia stipulates that electronic money users, like Wise, have ensure that e-wallets have holding limits. This includes all money held across all currencies on your Wise balances.

Learn more: Wise limits

Wise Euro account alternatives

As we saw earlier, Wise isn’t the only option for a powerful euro account in Malaysia. You could also consider a multi-currency digital euro account from providers like;

  • RHB - RHB’s multi-currency account lets you set up a euro account and supports 32 currencies in total.

  • HSBC - HSBC’s global account lets you set up a euro account and hold up to 11 currencies, all while managing everything from your phone.

Which account suits you will depend on your personal preferences and how you expect to transact.


The Wise euro account offers a range of features and benefits for customers looking to manage their money efficiently across dollars, euros and a selection of other currencies. You can use the Wise euro account as a personal or business customer, to hold, send, spend, receive and exchange euros alongside 40+ other currencies, with the mid-market rate and low fees from 0.43% for conversion.

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FAQs - Wise Euro account

How do I open a Euro account with Wise?

Open a Wise account online or in the Wise app by entering your personal information and uploading an image of your ID and proof of address. You can then simply tap to open a euro currency balance, to top up, convert, send and receive euros conveniently.

What is the account limit for Wise in Euros?

For Malaysian customers, there is an account limit of 20,000 MYR per day, including all money held across all currencies on your Wise balances. There are also some limits applied to card spending. These limits are used for security reasons, and can be adjusted in the Wise app conveniently.

How do I add Euro to Wise?

Open a Wise euro account, and simply log in and tap Add to top up in euros or another supported currency. You can also get local EUR account details, and give them to anyone who needs to send you a payment in euros.