The Hack Expats Use To Bank Overseas

[@TravelingwithKristin]

Open a Wise account and get your first transfer up to £500 (or your currency's equivalent) free: wi.se/travellingwithkristin (New customers only; ad) 💰

[@hoosierdaddy1469]

Not available for Nevada, US

[@carefulconsumer8682]

Thanks. My brother is in Mexico now exploring different cities to buy a house so I'll tell him about this. I wonder if you can use Wise in China since I have read foreigners have a hard time there since they no longer accept cash at most places. Thanks again. Very practical info.

[@timlinator]

@@hoosierdaddy1469 I don't know why. I live in California and have wise but my mom and brother live in Nevada and can't get it.

[@VonNaya-cp7uc]

Does wise work with crypto????

[@rapidresponserepairllc.man9552]

Hey Kristin do they use wise in Belize? Portugal , Brazil??

[@WaltMagnado]

I'm an accountant. We use Wise to transfer and pay folks all over the globe at a fair price every single day. Never had an issue so far in the last say 4 years or so.

[@TravelingwithKristin]

Great to hear! It's amazing - I still remember when I first heard about it back in 2012 and I've been using it flawlessly ever since. It's made my life so much easier - huge difference in my international lifestyle from before/after Wise was founded.

[@jdbellii8099]

Me too

[@zlauriault]

​@@MeMe-DGAFsounds like a situation where discussing it is a "too late" scenario. 😳

[@juanmendoza3213]

@@MeMe-DGAF may i ask why you mention to Kristin that we will have to stand before God one day ? I know about this but why tell her ?

[@LJ-bq9fy]

@@MeMe-DGAF Oh, I won't

[@Silvercp28]

Beware: Wise is NOT insured like your typical bank. Some easy solution/s are another type of headache/s! It's a tech company acting like a bank, yet beware of the lack of protection to their application user/s. 😊

[@stefaniekumaran563]

@awesomeschools so does that mean that the money you have there isn't guaranteed (by any government) were Wise to fold? In Germany, the gov guarantees 100k per account / person.

[@sidequestsally]

@@stefaniekumaran563correct. So if they do a Sam Bankman-Fried, you're boned. So long as you don't put your whole life in it and kind of assume anything therein could disappear FTX style, then I don't see much harm in using it. In other words, it's not a savings account.

[@power4things]

Wise isn't a bank in the conventional sense. It isn't really a place to LEAVE money (although you can) like a classic checking account. Use it as a go-between from home back to another.

[@FollowmedowntheNumberWhole]

Aka not FDIC insured etc (I assume?)

[@nerolowell2320]

this app is only to use for transaction and payment and not to hold your whole deposit in there !

[@Chu6um]

Wise is a nice option, but I'd recommend still having other ways to transfer as well. If Wise, or other such services, decide to suddenly put a 'freeze' on your service, it may take a while to clear up those 'unforeseen issues'. Always have a couple backup options, just in case. Especially if traveling to parts where internet service isn't as reliable, or their banking systems aren't very 'digital friendly'.

[@TravelingwithKristin]

It’s always good to diversify but Wise is an extremely important tool for me

[@englishdecorator]

Wise freeze your account when they feel like it. It takes weeks to un freeze, don't touch with barge pole....

[@danielboughton3624]

@@englishdecorator Well now you've done it. I had to go see about barge poles. We say a 10 foot pole in the US.

[@benjackson7872]

What do you recommend?

[@toddsharp4990]

Got Wise from a previous suggestion you made in another video. I've been using it for two years in Portugal, Spain, Germany, Canada, UK and US without issue. I set it up in Apple pay and when traveling rarely ever have to take my card out of my wallet. It's been great.

[@TravelingwithKristin]

It's the best! Glad you are enjoying using it. 😊

[@zlauriault]

Are you able to pay a utility bill on Portugal using Wise? If the people at the local payment offices for those without a Portugese bank card are on strike (like recently) and the utility company won't accept the foreign currency transaction for the utility payment, it's a pain. In that situation will they accept Wise?

[@toddsharp4990]

@@zlauriault I’m sorry. I never had to do that when I was there. I stayed at a VRBO and utilities were included.

[@tonysomewhere5920]

I was in Brazil for 2 months and I used their card for almost everything including open air markets. No problems at all! FYI, I do have a bank acct and card in that country. Go figure.

[@TravelingwithKristin]

Right!? I use my Wise card often - even in countries where I have a local bank account.

[@SeanOHanlon]

I understand the benefits of using Wise. What I don't understand is why anyone would close their Panamanian bank account. It's literally unassailable from any foreign judgements.

[@scottman895]

Great video! I used Wise for the first time last year to transfer money to my friend over in Germany, and it worked very well. I really like how useful it is around the world!

[@TravelingwithKristin]

So convenient! Glad you find it useful, Scott.

[@timlinator]

I'm a dual EU/US citizen who travels internationally a lot and absolutely love WISE.

[@TravelingwithKristin]

That's fantastic to hear @timlinator! 😊✈️

[@Whatsupbuddiebud]

@@TravelingwithKristin Its funny how you don't answer negative reviews. Would there be repercussions?

[@X-7-JAMES]

Wise charges you $4.50 for every $1,000 dollars you convert to the British pound, so you’re paying almost .5% for $1.000. So it would be $45.00 per $10,000 transferred. I don’t like giving away money, but perhaps it’s unavoidable to avoid fees for expats. I guess 1/2% isn’t too bad.

[@lucarmyfool4800]

Try Revolut, it's the same as wise but better.

[@janicenunn8525]

I am an American living in US. apt building owner recently began app for rent payment. First year, was .50 or 50 cents per rent payment of around $1k. second year raised it to $.99. Now third year raised it to $2.50. If you want to pay by check they charge you $5 fee. Ownership changed to out-of-state corporation, and rent now closer to $1.1k, plus LL saves lots of time/labor expense with this mandatory app. I have savings, and would just pay 6 or 12 months in advance and the one-time $5 fee on the check, but I did the math and T-bills pay over 5% now and it actually pays to just keep the money in t-bills and pay the rent monthly with the $2.50 fee. I do not like the app but it is best choice now. I am retiring next year and will move to better climate, and seek rental from mom-n-pop if possible who will accept checks and maybe even negotiate for small discount if can pay in advance, such as 3-6 months at a time. Ideally would pay the LL in silver coin....

[@zlauriault]

Compare to the fees charged by Paypal for receiving money to a business profile. They're a payment processor that accesses funds on an origin account also.

[@Mark-yo5ue]

If you consider both the fees and exchange rate you achieve with Wise, it’s comparable to Revolut and significantly better than any bank anywhere in the world! Don’t just look at the fees.

[@gilliantracy7991]

Thanks for this Kristin. Many expats here in France recommended Wise to me before I moved here. I just made my first transfer to my AirBnB host from my wise checking to his bank account and it really could not have been easier. The transfer was immediate! I haven't gotten the card yet but may. I like that they pay much more interest than US banks. Only negative thing I've heard about them from expats is rather poor customer service. Haven't had to use that yet and hope I won't need to.

[@TravelingwithKristin]

That's fantastic to hear! 😊 Glad your first transfer went smoothly. Hopefully, you won't need customer service, but it's good to know Wise has been working well for you otherwise. Enjoy your time in France! 🇫🇷

[@zlauriault]

Good to now about customer service being a problem. That is a factor in planning the level of usage.

[@johntyandersen1925]

I agree 100%, Wise has saved us no end of hassle compared to our banks its so easy to use. Rates are great too.

[@TravelingwithKristin]

Glad to hear you've had a positive experience with them too Johnty! 😊👍

[@peterpritzl3354]

I love WISE, but if possible, I prefer to use CC's with no foreign transaction fees, because I get 3x miles for travel expenses, and I travel exclusively on miles. I was amazed, that even on some remote island in Indonesia, no problem using a CC, and I still have lots left on my WISE debit card, which is just so practical. Used it in Japan, Indonesia, Germany and the US this summer, never a problem. Only once there was a hiccup, sending funds from the US to Germany, and it took 6 days. Usually it's same day.

[@mukkins555]

I use Wise have been traveling in Europe for 2.5 years and it has been an incredible tool. you said it cheaper, (exchange rates are accurate!) faster easier. I use the card almost every day. I paid my rent and when traveling accommodations, food grocery store-everything I get cash from atm's no fee!

[@kevinreist7718]

SoFi has similar international benefits including fee free ATMs, no currency exchange fees, no annual fee, etc

[@mrc6182]

ANOTHER better idea!

[@Mark-yo5ue]

Yeah, but what sort of exchange rate do you achieve? I see banks touting the “no fees” marketing BS while at the same time they give you a terrible exchange rate which can be very costly compared to others

[@MikeB-qx2mh]

Been using Wise for transfers overseas for years ( very happy with the service 😊) but just got the cards based on your recommendation

[@TravelingwithKristin]

That's fantastic to hear @MikeB-qx2mh! I'm glad my recommendation was helpful to you. Enjoy using the cards! 😊👍

[@shawnm2405]

App shares data though. Too many apps like that now. Would rather do things through a browser (with vpn) or in person at brick and mortar location.

[@Wee_Catalyst]

This is my concern about any financial app/“company”

[@blktauna]

@@Wee_Catalyst I'd worry more about US online banking if thats your concern

[@cindyk3076]

I have heard of several people who use Wise and really like it. Thank you for bringing this to our attention.

[@PZFLY69]

Not sure of the advantages here unless one is paying people internationally in various currencies. I mean Amex and Discover can be used for travel with no exchange fees. Most US banks are set up so account holders can send or transfer money back and forth.

[@alexanderl2061]

Yeah, this is an infomercial

[@zlauriault]

Some places don't accept either AMEX or Discover, and a limited number don't accept VISA but that's much more rare. This seems like an option basically as an intermediary kind of not really but kind of like Paypal at least from the perspective of processing payments. It sounds like they work very differently though. This may be cheaper than Paypal Business also.

[@blktauna]

This is more for paying local bills or transferring into local bank accounts (common for rents etc) as well as getting cash in the local currency at a better exchange. You'd be surprised at how many places still do not accept amex and even fewer take Discover.

[@albrackets8446]

@@blktauna Yes, and there can be "virtual" cash cards which are not a local bank account that you can use to pay things like local cell / internet services and Uber-like taxi operations. Wise makes it easier to fund these. Wise is also cheaper than using US banks for the type of transactions the OP mentions.

[@Aidan_Au]

Thank you Kristin for talking about Wise! I hope that you can do a podcast or a video of you talking to people working in Wise. That'd help people make up their mind to open a Wise account

[@TravelingwithKristin]

You're welcome @Aidan_Au! That's a great suggestion, I'll definitely consider it. Wise has been a game-changer for many travelers. Thanks for sharing your insights🙌

[@gprufino]

Bank accounts in the US are FDIC insured up to 250k. What is Wise's insurance limit Kristin?

[@cindyk3076]

It is not a bank, it is a money transfer service. From their website "Since Wise isn’t a bank, we keep our customers’ money safe by storing funds with reputable banks. These banks then pay Wise interest on those funds for keeping the money with them. "

[@gprufino]

@@cindyk3076 Thanks! Which reputable banks?

[@cindyk3076]

@@gprufino You will have to check their website, I just found the information, copied it and posted it to you, then closed the web page, sorry.

[@Ulbre]

Although some of those US FDIC insured banks recently foreclosed and lost all their customers savings.

[@alexanderl2061]

Notice that the detractors didn't actually answer the question. Individuals *are* secured for balances up to $250k. It's a pity that Kristin just blows through the sales pitch and glad-hands all those just fawning over her without constructively addressing real concerns. If you can answer the questions, just think of your actual value increasing, K. Just saying.

[@heythave]

If you have a Charles Schwab, it’s free. They reimburse your fees.

[@terrycoye3373]

Yes, but Schwab charges a margin for international exchanges.

[@l4lintl608]

True, I am a world traveler too and Charles saved me during the pandemic.

[@100rkw]

Schwab is ok for travelers, not expats. They will close your account if they find out you have moved abroad.

[@davidsebastianelli1326]

@@terrycoye3373Wise also charges fees for any type of transfer, international or bank to bank in the US. I live in Mexico and it's pretty much a cash only culture so I only transfer money from my main US bank account to my Charles Schwab account as needed and that way there are no transfer, ATM use or exchange rate fees. In Mexico, along with quite a few other countries, landlords and most merchants, including resturants and any hired help require cash only payments, for obvious tax reasons, so no real time use for international transfers that could add up using Wise. That's not to mention the fees also incurred for more than two ATM withdrawals per month. If I was traveling wordwide on a regular basis I would probably get a Wise card. Using it exclusively in Mexico could end up costing me quite a bit while using C.Schwab it doesn't cost me at all. All uses are free! Buena suerte!

[@edwardschneider6396]

​I have been with Schwab for over thirty years. I live in Mexico. The exchange rate is normal. I check every time when I withdraw pesos for rent. The safest method is using a credit card or cash for general purchases .@@terrycoye3373

[@TheMewiya]

Dropped Wise - too slow; went with Remitly - transfers arrive in seconds.

[@timlinator]

I have used Wise for a decade and love it.

[@TravelingwithKristin]

Hear hear! 🍻

[@tai5295]

USA cannot get a debit card, they say they stopped and there is a wait list if they will ever issue.

[@power4things]

Kristin's right, foreign banks won't talk to Americans these days, even when you have residency, visa, job, whatever. Wise really solves this. The phone and PC apps are very nice. Wise allows multiple currencies, and the US Dollar accounts even have a US-based bank with ABA/Routing and account number for US incoming payments. Once it's in, you can spend or transfer in any other currency directly from Wise.

[@jamesballard6564]

Ok. So they serve as your bank? Don't need an outside traditional bank first to top off this card?

[@ByronWatts]

Wise has the nasty habit if shutting down transfers for 4 daya so it can catch up and wait for ACH to catch up. Very weird. Its very inconvenient waiting days before i can resume using the service several times every month.

[@TravelingwithKristin]

I have never experienced this in 12 years but I would contact customer support with questions about specific transfers.

[@eQuariuz]

Yup. You discussed this in a video months and months ago. I got one 2 months ago. Haven't used it yet.

[@TravelingwithKristin]

Yes in the video I filmed in the UK? Give it a try!

[@DanielFernandez-jv7jx]

Thank you for this detailed information. I have to comment that I have seen several YT videos complaining of Wise freezing their accounts and having much trouble and time to undo this.

[@keith4826]

I have been abroad for 2 years now and originally got Wise as a plan B or plan C... It very quickly moved into a tie with plan A. The app is great and I use it primarily as an atm card. While I do not have the pension direct deposited into at this time.. I would not hesitate to do so.

[@TravelingwithKristin]

It's wonderful to hear that Wise has become such a reliable option for you @keith4826! Thanks for sharing your positive experience with using it abroad. 😊🙌

[@TWills-oe7hn]

If you are in another country and need to make a transfer, how do you handle the two-factor authentication? Do you need to also have google-fi?

[@christiansailor2880]

You make a wonderful spokesperson, Kristin!!

[@TravelingwithKristin]

Thank you, Christian! 🥰 I like to support companies I believe in that offer value and solutions, especially when I'm a long-time customer.

[@Whatsupbuddiebud]

My question she refuses to answer is is she being paid or compensated in many way as this company have many many complaints and horrible support

[@Whatsupbuddiebud]

​@@TravelingwithKristintypical no response except to those that you want Kristin. It's obvious that you are getting paid, are receiving some sort of compensation or maybe even both right?

[@SLOWBOAT2CHINA]

Do you still have to file an FBAR form? Where are the funds stored?

[@marksawesomeadventures]

I downloaded the App signed up, input my Address which is the US Territory of Saipan Island, CNMI Northern Marianas Islands, Wise Response= "Sorry Debit Cards are not available in your Location" 😒

[@garrymacphee8328]

Ive found Wise to promise more than it delivers. I couldnt get money sent to my UK bank account from abroad. And I ordered s physical bank card more than a month ago ehich still hasn't arrived. So much for convenience.

[@Curious859]

Thank you. Does wise send you verification code on cell phone while travelling? Because this is a feature I want to avoid. How about paying bills? I have to do my research of course. We’re going to travel from North America to Asia and the only thing that worries me is the bank verification codes that are sent to cell phones 😩

[@TravelingwithKristin]

I don’t receive text messages but you can set up 2FA

[@kathyhirsch379]

​@@TravelingwithKristinjust learning about this. What is 2FA pl thank you

[@blktauna]

@@kathyhirsch379 2 factor authentication

[@edbotwinik7185]

I tried wise, and got banned from using them for using too many different IP addresses while traveling... so usefulness is very temporary unless you are overseas staying in one spot.

[@blktauna]

how many were you using? and in what time frame. You obviously set off an alert. The currencies also matter.

[@jonb3189]

Personally, I would never put any banking app on my cell phone (or iPhone). Reason is, if the phone gets in the wrong hands, and they know how to break in, the hacker (aka: Bad guy) had all of your bank information. They can also transfer money to where ever. Personally yes, I do use Wise, but only on my PC and use a VPN whenever using it.

[@janicenunn8525]

good point but you can keep very limited funds in linked accounts. For example my social security account is in one of 4 accounts I have with my local credit union, and nothing links to that account. to use those funds I must first transfer them to other accounts that I'll send like nothing more than monthly expenses, or enough for say next 2 weeks. So these apps are not linking to accounts with larger amounts of savings accounts I have. The other thing is I do not treat my cell phone casually, very careful about not using password entry publicly, cover it well when I need to use PW, and keep it in inside pocket or cross-body bag, I am old-school, vs. the 20 and 30 somethings who are drunk and laughing in the bar accessing their phones/showing off and 15 minutes later their phones get stolen leaving them up shits creek as Apple is not helpful to protect their data etc., I read the extensive WSJ coverage on those horror stories.

[@GaryAJMartin]

It’s not a bank.

[@janicenunn8525]

no but it is an "account" that holds some of your money and links to your bank accounts. @@GaryAJMartin

[@leapintothewild]

I thought that, too, but the latest iOS update allows you to separate the login code for your phone from your app passwords, though you have to alter some of the settings. So access to your phone does not mean access to your apps if you alter the settings. Google for more info and how to do it - very hot topic in the last month or so. I also thought Apple Pay wasn’t a good idea but in researching realized it’s safer than using a physical credit card.

[@jonb3189]

@@GaryAJMartinI would not have any ... ANY banking transfer apps on my iPhone or banking apps on my iPhone. .... ever. IMO: Only way to access those while abroad is using your PC and a VPN.

[@rma1958]

They’re no longer the fast anymore. In fact, they say that there’s some kind of a transfer site that’s making everything slower now never heard of the name of it before.

[@norrisbethke7770]

I use two money transfer sites because there are limits on how much you can transfer, so when the exchange rates are good I can take advantage 👍🏻

[@TravelingwithKristin]

That sounds like a smart strategy! Thanks for sharing your approach @norrisbethke7770! 👍🏻

[@kathyhirsch379]

Can you tel us, What are those sites pl

[@scgrigsby]

I am done fighting with this product/website. It refuses to accept my passport and keeps asking to retake the photo. When I did it using my desktop camera, the least preferred method, it did finally take the photo I think as there was zero feedback. Then it asked for a selfie which after multiple attempts I have finally said forget it. Also within the U.S. and the country I want to send money to the Wise Debit Card is not available. So what is the point. Why can you not just scan and send them by email a copy of your document and selfie?? Duh here Wise!!

[@davesites]

You are right, WISE is fantastic, great video.

[@TravelingwithKristin]

Yes! Thank you!

[@travelvideos]

I have used them a few times. What was bizarre is that once you put your funds, they will ask for additional documents. Normally, banks will check your documents first and then take your money. But they take your money, then decide that they need some document from you. Wise was good in the old days, but they can't compete with the convenience of crypto.

[@janicenunn8525]

what sort of documents? Are you talking just id such as license for initial "account" set-up, or more invasive like recent bank statements? also was that one-time or ongoing? People may not have access to those docs while travelling so that can make a huge difference...

[@GaryAJMartin]

@@janicenunn8525I was asked to update my details to continue using the service. I forget exactly what now. It was a couple years ago. But it isn’t a one and done forever.

[@valmir144]

You are praising crypto but I had exactly the same experience with Coinmama. I was trying to purchase 100 USD worth of bitcoins. They charged my card and then the transaction was pending. When I learned that it was possibly due to them needing further verification from me, I just asked them to cancel the transaction and refund me!

[@TravelingwithKristin]

From my experience it's basic ID verification. But you may need proof of income in some cases, especially for business accounts.

[@blktauna]

unless you don't do crypto.

[@patric5076]

Could you comment on the fact that your money is NOT insured.

[@garrett7101]

What if you just want to hold $$ in foreign currencies? Also, you can't currently get a Wise card if you live in the US.

[@whynot8082]

Why is really good if you’re living somewhere and you have a bank account open so you can convert on your terms. just traveling you just use a credit card at merchants with no foreign transaction fees and if you need cash just go to an ATM

[@Shibari-shi]

Are there conversion fees? Also, if you need hard currency in the Country you are in, you still have to pay their fees/rates. Get a Charles Schwab Checking account

[@GeoGemIJewellers]

I've heard good things about Wise, I do have some concerns with the two factor authentication, when I'm away I get a sim card with the new provider, so I can't receive SMS texts, then what? is there another way?

[@paulmarshall7328]

If you have a no fees for international purchases credit card isn't it the same?

[@JohnJoseph999]

I tried to order a Wise Debit card but it says they have temporarily paused issuing cards to US addresses.

[@engelberthk]

Not all countries accept Wise as a bank that accept deposit (inward transfer to your Wise account e.g. Hong Kong), also no deposit insurance as bank

[@greggibbs3639]

What is the domicile of Wise? Does this account avoid IRS / U.S. Tax issues? I don't think so.

[@isd605]

I'm thinking of being an expat when I retire. Won't I need a foreign bank account to pay my rent, and other bills?

[@luvanime1986]

We plan to travel around asia with periodic rest periods at our flat in Russia. We will be doing this when we will be collecting social security retirement payments which must be direct deposited in a U.S. bank, as far as I'm told. This will be in 5 years for me. Does this app work only with financial systems connected to the visa/mc payment system? I've heard that some countries, I know Russia is one but we don't care cause we have a workaround for that, whi h are similar to Russia in that the Collective West has effectively booted them from their payment systems, so does this mean we should $USD cash before going into those countries, or does Wise handle most asian countries? (I hope that made sense) Thanks!

[@banzai.renaissance]

Thank you for the depth on this. Beautifully simple solution to a very adult challenge as I prepare to leap and go global. I fatigue of all the money conspiracy theories out there and solutions that just create more problems. That said .... let's say someone were inclined to diversify into rapidly developing nations. What do we know about how one would place capital into index funds from within SE Asia or EU? Does seeking such diversification require residency, citizenship, or ?

[@yaniyuhara8165]

This video is nothing but commercial video for WISE. There’s nothing wrong with making commercial video. But then, it needs to be labeled as such. I enjoy her video usually, but I felt a bit deceived by this contents this time.

[@zlauriault]

Nearly 5% interest for US is up there with a high yield savings account. What are the backup assurances for money held with Wise and what is the dollar limit? Obviously it's not an FDIC or a NCUA-backed bank account that a Wise user would have, and those have a $ limit per person rule anyway for the financial backing, so I'm curious what assurances they offer on the money they hold for a user. I saw you said they maintain liquid assets and list them publicly, but ultimately, are the funds subject to rules and sanctions based on the country of origin where the finances originate? I worked in finance so I have these sorts of questions. 🥴

[@zlauriault]

I have another question... I'm what way does this act more user-friendly than having a VISA card that doesn't change international transaction fees while choosing the option RU pay in the local currency to avoid the jacked up exchange rate. I would love an apples to apples comparison since I'm eager to examine my options.

[@muurikatu]

Welcome to Miami! :) Are the exchange rates better than Revoluts?

[@TravelingwithKristin]

Thanks! It looks like Revolut charges a fee of 0.5-1% on forex, which would be higher. Wise uses the mid-market rate.

[@rightright6582]

1-does wise have a swift or aba number to get transfer in? 2-how do u fund wise if u do not have a bank account?

[@YogaBlissDance]

OMG thanks for breaking it down in detail. So if going to Europe do we still want Euro's to have on hand right?

[@TravelingwithKristin]

Yes you can use your Wise debit card to withdraw Euro at ATMs in Europe!

[@andrewcarlson2178]

​@@TravelingwithKristinbetter than how we used to do it which was take a large amount of cash then exchange it at a bank when we got in country, although that was easier to budget lol

[@ricforest3879]

Unfortunately, withdrawing cash from ATM in say, Thailand, you will still get the hefty fee (around 200 baht) per withdrawal. The only way to avoid this is to have a local bank account. Otherwise Wise can be very usefull and fast for transfers.

[@daveyoung9090]

I have been using Wise for many years now and cannot fault them, excellent exchange rates, low charges and super easy fast transfers....what is there not to like.

[@JakeValentineStory]

Ughhhh, a commercial masquerading as something more. KZbin's version of click bait.

[@Tsimy876]

I dont mind a commercial - when it is selling me something i can actually make use of....

[@jimmccann3856]

Good video! Like you, I have used Wise for years (Canada -> Mexico transfers). But what I really need is a Wise-like way to hold investments like dividend stocks, REITs, trusts, etc internationally. As you probably know, after the Cyprus banking "bail-out" all the major western countries passed new "bail-in" rules, whereby investors & depositors will now pay for financial institution failures, rather than governments. So what do YOU do? (Or recommend? Ask Wise, if you like...)

[@TravelingwithKristin]

Hi Jim, I own real estate in the US and Nicaragua and like to invest in local products in different countries, whether CDs, stock market, etc. I find interest rates to be higher than in the US. But there are nearly unlimited options to invest money internationally.

[@janicenunn8525]

Jim, ever heard of silver and gold, physical?

[@janicenunn8525]

or Revolut? it has reviews on you-tube

[@blktauna]

@@janicenunn8525 no one in their right mind wants to deal wit the security on that.

[@montedreams1]

Hello, I have heard we cannot transfer money using WISE in Albania. I am retired planning on moving to Albania next year. Do you know the best and cheapest way for me to transfer my check each month from the US to where I will be in Albania? My plans are to slow travel thru Albania for maybe 6 months looking for beach town with less tourism to live in. Thank you

[@kirtlamb4413]

The function is fine but the cost is not cheap. It's raised twice to the same person

[@JamieW-o7b]

I fully recommend Wise, good rates and 100% reliable in my case!

[@taylorthompson4212]

Does not work for expats unless you still pay rent in the U.S. and provide proof. We are currently overseas and had our card frozen for this. Support is horrible. Have had several people on there support team give us the wrong information. Also can’t buy crypto with it which is a huge red flag imo. Awful customer service.

[@amritawhitman8112]

I just received my card as I'm preparing for a 5 week trip to the Netherlands and the UK. Your video was very helpful! Thank you!

[@TravelingwithKristin]

You're welcome! I'm thrilled to hear that the video was helpful for your upcoming trip. Have a fantastic time and safe travels! 🌍✈️

[@amritawhitman8112]

@@TravelingwithKristin Thank you very much!

[@beanie72]

Thank you for this information and explaining it a very easy to understand way! I opened a Wise account back in 2019 as I needed to transfer money to my wife in Japan for wedding expenses. I didn’t know that I could get a bank account number in multiple currencies. I’ve just opened a JPY and EUR ones which will my travel business a lot easier to get paid.

[@TravelingwithKristin]

You're very welcome! I'm glad the information was helpful for you. Happy travels and best of luck with your business! 🌟✈️

[@MarkBennett007]

Hi …not being able to hold a UK bank account any longer……..would I be able to pay my pension into wise? Then draw from that to any country I live in

[@TravelingwithKristin]

Hi Mark, that should work as my Wise GBP account operates exactly the same as any other UK account. I can transfer to other British accounts for free instantly. Give it a try and contact Wise support with any questions!

[@annajane9435]

Hi Kristin, can you fund your account with 2 or more bank accounts or just one. Thank you

[@jPuma817]

you can fund it with more than one, I never seen a limitation on this

[@TravelingwithKristin]

Hi Anna, you can find the account with various sources and connect multiple accounts

[@annajane9435]

Thankyou@@TravelingwithKristin

[@SaadonAksah]

Wise is great whether to be used locally or internationally! 👍

[@cliffcastle9808]

Couldn't agree more. Been using Wise for years ... the card is very helpful as a debit card overseas.

[@giarad9822]

Im in Thailand and need to take my money out of this country - but Thailand doesn’t allow one to use wise to withdraw funds.

[@Guydude1231]

So if i transfer my USD to another currency, i can go to an ATM and pull out that new local currency?

[@hilmarnehus6257]

with wise your headache start, horrible ,or no support for customer

[@dmpase]

I would love to use Wise for periodic transfers, for example, moving a fixed amount of money for living expenses into Wise every month. Is there an easy way to do that?

[@Michael-u1t8k]

I heard you can use Zoom to transfer money as well. But I have not looked into it yet. Have you used or heard of anyone using that service? What about SoFi?

[@akdkumar]

thanks for sharing this information!

[@TravelingwithKristin]

Glad it was helpful!

[@akdkumar]

just signed up , but they say card ain't available in my country.!

[@tmorril]

Is Wise a better choice than the Charles Schwab debit card that I so often hear about as a prospective traveler? Thanks!

[@candomath5429]

I've been using the Schwab debit card for 6 months, and no problems so far. When I checked the reviews of Wise, they were overwhelmingly negative, namely about the dysfunctional support. It sounds as if Wise is great until one needs customer service.

[@TravelingwithKristin]

Hi T, Charles Schwab is good for the fee-free debit card. You could open both Wise and Schwab accounts and link them together. In other words, you can fund your Wise account with money you have in Schwab. Hope this helps!

[@jackwest5295]

What is the limit you can receive in one transfer ? or per year.?

[@RenCaldwell76]

I can earn 4.8ish percent interest if I use Wise for my savings account? I have Wise already and didn't know this! I will go look up more details on that. Thank you, Kristin!

[@TravelingwithKristin]

Yes you can use it as a savings account! The interest rates are very competitive

[@jimsherman6262]

Card not available in USA?

[@Walk-retirement-travel]

Unless you are from Nevada you can’t get a wise card if your a resident of Nevada 😢

[@ricardog4604]

I use to send money to family in Vietnam. I use my debit card to withdraw money from my credit union in U S at atms wherever I am. Small fee but I get my money in local money. Not a hack in my opinion.

[@elvdell5582]

I don't get why people need things like this. I bank with Navy Federal Credit Union and when I travel abroad, I use my credit and debit cards overseas and never see a fee. What am I missing?

[@richard9827]

You aren’t missing anything. Many other banks charge atm fees or as she says a markup. Ask them how you YS funds are converted into local currency. I suspect that you are fine but ask

[@elvdell5582]

@awesomeschools I did the math on several of my purchases and the credit union converted almost to the penny based on the current exchange rate at the time. Unless you are talking about some other type of conversion that is cheaper I am still not seeing it. Even when I “buy” money via wise I’m paying that same exchange rate for it.

[@TheAfterglowArray]

@@elvdell5582 Ok if you're getting rates as good as Wise then that's great. Most of the time people are getting really bad deals because they don't pay attention to the FX rates they are getting.

[@Whatsupbuddiebud]

​@@elvdell5582You are exactly right. Wise is a horrible choice. We learn that the hard way. Do your research? You will be shocked at the complaints against them

[@dave.reid1958]

Thank you Kristin for this great video. Somehow, I had not previously heard of this - I could have used it a long time ago. I will be opening an account using your link pronto.

[@TravelingwithKristin]

Thank you so much for your kind words! 😊 I'm glad you found the video helpful. 🌍✈️

[@robbiemc596]

Can I transfer between my US account to wise? Can wise be used as a bill pay service?

[@TheSicilianLife]

We use Wise in Italy. Good experience so far.

[@teresamartini10]

Wise vs Revolut? Which one is best?

[@marklicc]

You forgot to show that you get bank account numbers for each currency (ie SWIFT # in Europe) for ACH Transfers.😉

[@TravelingwithKristin]

Good point; I will specify in an upcoming video

[@amyslaughter395]

Been watching your awesome videos and learning a lot, thanks. I want to know how to contact wise customer service for questions especially about amounts and using as a debit card like hotel bookings, etc... Any more help and advice is appreciated

[@mindforgecollective]

Thanks. I've been looking for something like this.

[@TravelingwithKristin]

Glad I could help!

[@oceanproalaska2203]

You Can not get a Wise Debit card in U S

[@a.b.5418]

You cannot take money out of an ATM when you are in your home country. it doesn't work.

[@stefanlouw6395]

Awesome and very informative video, as always Kristin! I've been doing some research on this lately, do you maybe have any idea of what the main differences are between Wise and PayPal? Pros and cons of each? That might be a cool topic for a video actually 😃

[@janicenunn8525]

be careful of Paypal, they have engaged in basically debanking those whom they do not like their comments on social media (came out a year or so into Covid I believe) whether you are anti vax, pro Trump, etc. Censhorship should not affect my access to my money, decided on by some 25 year old bureaucrat rat, monitoring what I say and taking it out of context b/c some computer AI algorithm triggered it and sent it to them. Not sure how Wise is on that scale, will research it and ask around.

[@TravelingwithKristin]

Thanks Stefan! The biggest pro to using Wise over PayPal is that it costs less to send or receive money. I still have a PayPal account, but rarely use it. You can compare the costs between Wise and PayPal here: wise.com/gb/compare/providers

[@stefanlouw6395]

Thank you this is very helpful!@@TravelingwithKristin

[@pdesiles6792]

Hello. Could you tell how did you find your virtual assistant and why did you choose a VA in Philippines ?

[@TravelingwithKristin]

Hi, I used onlinejobs.ph and chose the Philippines to hire from because the people are nice and much of the workforce speaks English

[@pdesiles6792]

@@TravelingwithKristin Than you for your reply. It was helpful.

[@carlschoeppel9897]

Can I set up an account for my private trust?

[@TravelingwithKristin]

Hi Carl you can set up a business account. I’ll make a video about that next

[@maridougcividanesestrella]

Thanks a lot for this video

[@TravelingwithKristin]

You're welcome! 😊