Independent Review · Currency card – not physical cash
Wise Travel Card
Wise is a prepaid multi-currency card, not a physical cash delivery service. It converts at the mid-market (interbank) rate and charges a small sliding fee (~0.55% on GBP/EUR). FCA Authorised Electronic Money Institution (FRN 900507). Best for card-friendly destinations – does not provide physical currency notes.
Mid-market rate FCA EMI 900507 Card only – not cash 40+ currencies
GBP/EUR rate today
1.1538
Mid-market rate
€ for £500 (eff. after fee)
€573.73 (eff.)
Before delivery fee
Effective rate (after fee)
~1.1465
Best effective rate on comparison
Regulatory status
FCA EMI
900507 (Wise Payments Ltd)
8.8 / 10 PSL Travel Money Score
Verdict: Best effective rate of all providers for card-friendly destinations – but not a cash service
Wise delivers the best effective rate on this comparison page for destinations where cards are accepted. Using the mid-market rate and applying a ~0.55% conversion fee, the effective delivered rate on GBP/EUR is ~1.1465 – giving €572.75 for £500, which beats every cash provider including TravelFX (€567.85). The key constraint is that Wise is a card, not cash. It cannot deliver physical euro notes to your door. For the Eurozone, North America, Scandinavia, Australia and Japan this is rarely a problem – card acceptance is near-universal. For Turkey, Morocco, parts of Southeast Asia, rural areas and anywhere requiring cash, a physical currency provider is necessary.
Wise Rates Today – Major Currencies Updated 14:32 BST · 28 Apr 2026
| Currency | Wise rate | Received · £500 | vs TravelFX | vs interbank |
|---|---|---|---|---|
| EUR – Euro (mid-market) | ~1.1475 | €573.73 | Mid-market | 0 bps |
| EUR – Euro (eff. after 0.55% fee) | ~1.1475 | €573.73 | +€4.90 vs TravelFX | −60 bps eff. |
| USD – US Dollar (effective) | ~1.3422 | €671.09 | +varies | −55 bps eff. |
| AUD – Australian Dollar (effective) | ~1.8715 | €935.76 | +varies | −50 bps eff. |
| TRY – Turkish Lira (effective) | ~60.5139 | €30,256.97 | +varies | −60 bps eff. |
Rates are indicative and update continuously. Interbank mid-market rates sourced from PSL data feed. Firm rates must be obtained from Wise directly before transacting.
Fees & Account Details
💳 Card & Conversion
Rate Mid-market (interbank rate)
Fee on GBP/EUR ~0.55%
Fee on GBP/USD ~0.41%
Fee varies by Currency pair
Fixed fee per transfer None on Wise card spend
🏧 ATM Withdrawals
First £200/month Free
Above £200/month 2% fee
2 free withdrawals/month Regardless of amount
📱 Account & Card
Account opening Free – app or web
Physical card £7 one-time delivery fee
Virtual card Free – instant
Currencies on card 40+
Top up Debit card, bank transfer
⚠️ Important Limitations
Physical cash delivery Not available
Buyback service Convert back at standard fee
Cash in hand Not possible – card spending only
Best for Card-accepting destinations
Pros & Cons
✓ Advantages
✓
Best effective rate of all providers on this comparison for card spending✓
Mid-market rate – no markup on the exchange rate itself✓
FCA Authorised EMI (FRN 900507) – strong regulatory status✓
40+ currencies on a single card✓
Free ATM withdrawals up to £200/month – useful for small cash top-ups✓
Instant virtual card available immediately on registration✓
Transparent fee shown before you convert✗ Disadvantages
✗
No physical cash delivery – cannot be used to obtain euro notes✗
~0.55% conversion fee on GBP/EUR (though still beats all cash providers in effective terms)✗
ATM fees above £200/month – limits usefulness in cash-heavy destinations✗
Not suitable for Turkey, Morocco, parts of Southeast Asia where cash is essential✗
£7 physical card delivery fee✗
No dedicated account manager or phone supportPSL Rating Breakdown
⚠️ Regulatory clarity note: The "Regulatory clarity" score reflects the level of consumer protection and transparency PSL considers available to customers. A lower score does not mean the provider is illegal or unsafe for typical transactions, but indicates that FCA consumer protection rules do not fully apply to the currency purchase itself.
8.8 / 10 Overall PSL Travel Money Score
Who Is Wise For?
✅ Best for
Travellers visiting card-friendly destinations (Eurozone, UK, USA, Scandinavia, Australia, Japan, Canada) who want the best possible rate for card spending. Wise consistently outperforms all cash providers on an effective delivered-rate basis for these destinations. Also excellent for frequent travellers who visit multiple countries – the 40+ currency support means one card covers most needs.❌ Not ideal for
Destinations where cash is essential – Turkey, Morocco, Egypt, parts of Southeast Asia (Thailand markets, Vietnam, Indonesia off-resort), rural destinations across Eastern Europe. For these, order from TravelFX or Currency Online Group before you travel.💳 Note
Not a replacement for cash: Wise cannot deliver physical euro notes. If you need notes – for tipping, markets, taxis, or any cash-only business – you need a separate cash order. A practical approach: Wise card for everyday spending, £150–250 of physical cash from TravelFX for markets and small vendors.Wise – Questions & Answers
Can Wise deliver physical cash to my door?
No. Wise is a prepaid multi-currency card. It cannot deliver physical currency notes. When you load GBP onto your Wise card and spend in euros abroad, it converts at the mid-market rate (minus a small fee) at the point of transaction. For physical cash, use TravelFX, Currency Online Group, Eurochange, Sainsbury's, Tesco, Post Office or John Lewis/Waitrose.
What is Wise's fee for converting GBP to EUR?
Wise charges approximately 0.55% for converting GBP to EUR. This varies slightly by amount and can change. The fee is shown transparently before you confirm a conversion. On £500, the fee is approximately £2.75, making the effective rate ~1.1465 vs the mid-market rate of 1.1528.
Is Wise FCA regulated?
Yes. Wise Payments Limited is an FCA Authorised Electronic Money Institution (FRN 900507) and is listed on the London Stock Exchange. It holds the strongest regulatory status of any provider on this comparison page alongside Post Office and John Lewis (all FCA EMI authorised).
How does Wise compare to TravelFX for the Eurozone?
For card spending in the Eurozone, Wise delivers more euros per pound – ~€572.75 vs TravelFX's €567.85 on £500. However, TravelFX provides physical cash (notes), which Wise cannot. Many travellers use both: Wise card for most spending, a small cash order from TravelFX for markets and cash-only situations.
Can I withdraw euros from ATMs with Wise?
Yes – Wise allows two free ATM withdrawals per month, with the first £200 fee-free. Above £200/month a 2% fee applies. This makes Wise reasonable for occasional cash withdrawals, but not ideal as a primary cash source in destinations that are cash-heavy.