Your Guide to Getting Started with Wise: Opening an Account and Using the Card

Wise is known for international transfers and its multi-currency account. But how do you actually get started and put these features to use?

The process is designed to be straightforward and is done online.

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You can set up an account and, where the card is available, order your debit card from your smartphone or computer, although verification may take longer.

Step-by-Step: How to Open Your Wise Account

You can open your account either through the Wise website or by downloading the mobile app, which is available on both the Apple App Store and Google Play.

The process is intuitive and typically takes just a few minutes.

Sign Up: The first step is to visit the Wise website or open the app. Click on "Register" or "Create an account." You'll be asked to provide a valid email address, your country of residence, and a phone number. Depending on your region, you may also be able to sign up using another account, such as Google or Apple.
Choose Your Account Type: Select whether you need a personal account (for individual use) or a business account (for your company).
Verify Your Phone Number: Wise will send a 6-digit verification code via SMS to the phone number you provided. Simply enter this code into the app to confirm your number.
Create Your Password: Finally, create a strong password for your account to ensure it's secure.

That creates your basic account. However, to use features such as sending money or ordering a card, you will need to complete the identity verification process.

The Identity Verification Process: What to Expect

Identity verification is a crucial step for both your security and Wise's compliance with financial regulations.

As a regulated financial company, Wise follows a process similar to that of traditional banks.

To verify your identity, Wise typically asks for one or more of the following documents:

A Photo ID: This can be your government-issued ID card, driver's license, or passport.
Proof of Address: This could be a utility bill (like electricity or water), a bank statement, or a credit card statement.
A Selfie: In some cases, Wise might ask you to take a photo of yourself holding your ID to ensure you are the actual person opening the account.

Pro-tip: Make sure the photos of your documents are clear, well-lit, and have no glare or parts cut off. This can help avoid delays in the verification process.

Once you submit your documents, the Wise team will review them. Verification times can vary. You will be notified by email when your account is fully verified and ready to use.

Requesting the Physical Wise Card

Once your account is verified, you can immediately start using the multi-currency account and get a virtual card. If you want the physical card, which may have a one-time fee depending on your country, you can order it directly through the app.

Log in to your Wise account.
Navigate to the "Card" tab on the main menu.
Click on "Order your physical card."
Follow the instructions: You'll confirm your delivery address and set a 4-digit PIN for your card.

The card will be sent to your address, and once it arrives, you just need to activate it in the app to begin using it for in-store purchases and ATM withdrawals worldwide.

Before you use it abroad, check the current fees and withdrawal limits for your country on the official website.

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Before you open an account

It helps to understand what Wise is, and what it is not. The company specializes in international transfers and multi-currency balances, but it does not offer every product that you would expect from a traditional bank, such as mortgages or a full range of loans. Protections for your balance also vary depending on the country and the entity that serves you, and they may differ from the deposit insurance offered by a bank. Read the information for your region on the official website, and consider how much money you intend to keep in the account.

Next, check availability. The features you can access, the currencies you can hold and the card itself depend on where you live. Make sure that the service is offered in your country and that it covers the currencies you need, before you go through the verification process.

How to compare the cost of a transfer

Many people look only at the fee, but the exchange rate often matters just as much. A provider that advertises a low fee or "no fee" may apply a less favorable rate, which means that you pay through the conversion instead. To compare properly, enter the same amount into each service on the same day and look at how much the recipient will actually receive. This number tells you more than any advertising claim.

Also think about speed and how you fund the transfer. Paying by card may cost more than paying by bank transfer, and arrival times vary between countries and methods. If the recipient's bank is charged an intermediary fee, the amount that arrives may be lower than expected. Wise publishes its current pricing, so check it before each large transaction, as rates and fees can change.

Sending your first transfer safely

Start with a small amount, especially when sending to a new recipient. This allows you to confirm that the details are correct and to see how long the money takes to arrive. Check the name, account number and any routing or bank codes carefully. A mistake can be difficult to reverse once the money has been sent. Keep the transfer confirmation, as it may be useful for your own records or if you need to contact customer support.

Be especially careful if someone you have met online asks you to send money. Scammers often invent urgent problems, promise investment returns or claim to be from a government office. Once sent, this money can be very hard to recover. If something feels wrong, stop and verify the story through a separate, trusted channel.

Using the card while traveling

When paying abroad, you may see a choice on the terminal between your home currency and the local one. Choosing the local currency is often better, because the merchant's conversion, called dynamic currency conversion, can come with a poor exchange rate. Before you leave, check how much you can withdraw from ATMs without an extra charge and whether your card has any limits. Local ATM operators may also add their own fees, which are separate from those of Wise.

It is sensible to carry a backup payment method in case a terminal does not accept your card or your card is lost. Hotels and car rental companies sometimes place temporary holds on your funds, and a prepaid or debit-style card can behave differently from a credit card in those situations, so ask in advance.

Keeping your account secure

Turn on two-factor authentication and use a unique password that you do not use elsewhere. Install the app only from an official store, and enable notifications so that you can spot unusual activity immediately. If your card is lost or stolen, freeze it in the app right away. If you use a virtual card for online purchases, your physical card details are less exposed. Be aware that Wise staff will not ask you for your password or for security codes, so treat any such request as suspicious.

Records and taxes

Holding money in different currencies can have tax implications in some countries, especially if you live abroad or earn income internationally. Keep your statements, which can be downloaded from your account, and ask a qualified tax professional if you are unsure what must be reported. Finally, review your use of the account from time to time. If your needs change, you can compare it with what banks and other licensed services offer, and always confirm the current terms on their official sites.

123 News is not affiliated with Wise. This article is for informational purposes only and is not financial advice. Check the official website for current terms and rates.