How to Use Wise to Save Money While Traveling

This was one of the coolest things I think Ro and I did on our most recent Europe trip. Wise, formerly known as Transferwise, is similar to PayPal or other money-sending services, but this allows you to create bank accounts in other countries via their services.

Ro and I were heading to London, Paris, and Lisbon - so we created a UK-based account and an EU-based account. For a few months prior to the trip, we transferred money from USD to Euros and Great British Pounds.

The REALLY cool thing about Wise is that you’re able to get a debit card and use that and it’ll automatically pull from the currency the receiver is requesting (so if you’re in the EU, it’ll pull Euros).

I didn’t buy my debit card in time, so I transferred all of my Pounds and Euros to Ro since she was responsible and got hers :)

We used the Wise card for our meals and I loved this! We kept an eye on exchange rates and when the GBP and USD or Euro and USD were neck-and-neck, we transferred money to the Wise account. It was seamless to use, very user-friendly, and a great way to avoid foreign transaction fees while on your trip.

If you know you’re traveling somewhere abroad, I’d start transferring money to a Wise account in that local currency ahead of time and then use your Wise card abroad for maybe more minor purchases (transportation like trains, taxis, etc. or meals, etc.) and use your debit or credit card for larger purposes so you can get the VAT refund (if you’re traveling to Europe specifically).

Also, a fun fact: Wise is headquartered in Tallinn :) So you know I love it EXTRA for that!!