Wise Account Review [2025]

How to add money to Wise account

You can add money to your Wise account, or if you already hold a balance in one currency and need another, you can convert to the currency you need, within your Wise account in just a few taps.

Here’s how to add money to a Wise account:

1. Open the Wise app or log into the Wise desktop site
2. Tap the currency balance you’d like to add money to
3. Click Add and enter the amount and currency to add
4. Select how you’d like to pay, and click Continue to payment
5. Depending on how you’d like to pay, you’ll be guided through the payment steps within the Wise app

You can pay to top up Wise in USD using your debit card, credit card, wire transfer or ACH. Different payment methods have varying fees, so you’ll be able to pick the one that suits your needs from the options available.

How to receive payments into Wise account

You can receive a payment to Wise in any of 10 currencies, using local account details.

Here’s how to receive a payment to your Wise account:

1. Log into your Wise account online or in the Wise app
2. Tap Open, and select the currency balance you need to receive a payment to
3. Follow the prompts to confirm if you’re receiving a local or international payment
4. You’ll see your local account details, and can use the ‘copy account details’ function to give them to the sender

You can also request a payment from someone using a payment link. Simply tap the currency balance you want to receive a payment to, and then select More, followed by Request a payment. You’ll generate a payment link you can pass to the sender to make it easier for them to send you money.

How to convert currency in Wise app

You can convert currencies within your Wise account online and in the Wise app. You may want to convert a balance you hold to a different currency, for example if you’re heading off on a trip and want to set your travel money budget in advance. You can also convert currencies at the point of sending a payment, or automatically when spending with your Wise Multi-Currency Card if you don’t already have a balance in the currency you need.

Here’s how to convert currency in the Wise app:

1. Tap the currency balance you want to convert from
2. Select Convert and enter the amount to exchange, and the currency you want to convert to
3. You’ll be shown the exchange rate and fee, as well as how much you’ll get in the converted currency
4. Tap continue and follow the prompts to exchange 

If you’re spending or making a withdrawal with your Wise Multi-Currency Card and you don’t hold a balance - or enough of a balance - to cover the transaction in the required currency, the Wise Multi-Currency Card’s auto convert function will switch to the currency you need from the balance you hold which attracts the lowest possible fee. This means you’ll always pay in the local currency wherever you are, which avoids possible extra charges involved with dynamic currency conversion.

12. How does Wise know which currency to use?

When you spend with a Wise Multi-Currency Card the money will be automatically deducted from the balance you hold in the currency you need. If you don’t have a balance in the currency you’re spending, the Wise Multi-Currency Card will convert your money from the balance you hold that attracts the lowest available fee, using the mid-market exchange rate.

Wise smart auto conversion

Within your Wise account you can set up automatic conversions based on your preferred exchange rate. Simply choose the currency and amount you want to convert from and to, and enter the exchange rate you’re looking for. Wise will track the exchange rate, and automatically convert the amount you’ve selected, when your desired rate - or an even better rate - is achieved.

How does Wise know which currency to use?

When you spend with a Wise Multi-Currency Card the money will be automatically deducted from the balance you hold in the currency you need. If you don’t have a balance in the currency you’re spending, the Wise Multi-Currency Card will convert your money from the balance you hold that attracts the lowest available fee, using the mid-market exchange rate.

How to change default currency on Wise?

There’s no need to set or manage a default currency on Wise.

If you have a balance in the currency you need for spending or making a payment the funds are deducted automatically from that balance. For example, if you have a Euro balance in your Wise account, and you're spending with your Wise Multi-Currency Card in Germany, then your Wise Multi-Currency Card simply will use your Euro balance for your purchases.

Whenever you spend in a currency you don’t hold in your account, Wise can automatically convert from the currency you hold which attracts the lowest possible fees. Therefore, you can't choose a default currency to be used, or change the currency to be spent from. However, you'd like to prevent a certain currency balance to be spent from, you can simply your your money into a jar and your Wise Multi-Currency Card will use another currency instead.

Can I use TransferWise as a bank account?

Wise is not a bank, but a Wise account offers many similar features to a bank account such as local account details to receive payments, debit cards to spend, and options to hold a balance in USD or a selection of other currencies. That means that a Wise account can be handy for day to day spending at home and abroad, but it’s good to know you won’t necessarily be able to access all the same services you can through a bank, such as check and cash deposits or loans.

Is Wise considered a foreign bank account?

The Wise account is a foreign currency account, which can be used to hold balances in 40+ currencies, and to receive payments in 10 currencies with local account details.

How to transfer money between Wise accounts

If you need to send a payment to someone else with a Wise account you can do that easily within the Wise app. You’ll be able to send a payment in USD or any of the 40+ supported Wise currencies, and it’s free to send a same currency transfer to another Wise account holder. If you need to convert currencies there’s a low fee to pay, and you can even send money using just the recipient’s email or phone number if you’d prefer.

Here’s how to transfer money between Wise accounts:

1. Log into your Wise account online or in the Wise app
2. Select Send Money
3. Enter the amount you want to send, or the amount and currency you want your recipient to get
4. Pick Wise Balance as the payment method 
5. Check everything over, enter the recipient’s information, and confirm your payment