This was posted 4 years 10 months 30 days ago, and might be an out-dated deal.

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Free Multi-Currency MasterCard @ TransferWise


This isn’t a deal as such but it does look good but wasn’t sure where it should be posted if not here since essentially it will/can save you money (compared to the more common alternative options).

I’ve been a user of TransferWise for a long time now but it only works well if you have a local currency bank account to send/receive from so generally not helpful for holidays.

Today I noticed they now offer a MasterCard that you can move money to in local currencies, it works by providing you with a local bank account number to make transfers to via their usual method.

I’m off to Aussie in a few weeks so have a feeling this will be helpful for that. The specific currencies they currently offer for the card are NZD, AUD, USD, GBP and EUR.

Worth checking out if you are doing any travel or perhaps buy online from any of the above countries.

Yes, there are referral codes but not chasing kudos for sign up, genuinely think this looks good.

Referral Links

Referral: random (264)

Referrer receives $130 for every 3 signups, who must all spend $175 each. Referee receives either one free transfer (Up to $900), or they receive a free physical card. (Keep clicking the referral randomiser until you receive the offer you want)

Related Stores

Wise (Formerly Transferwise)
Wise (Formerly Transferwise)

closed Comments

  • +1

    It is worth noting that you must use either a passport or firearms licence to verify your account for TransferWise in New Zealand - driver licences cannot be used. They also say you can use a National ID card, however as there is no such thing in NZ it doesn't really help.

    • I activated my account just fine using driver's license.

      • How? Passport is the only option for "ID type". Did you just pick that but upload a driver's license instead?

        • I initially tried to do it on the website and only had Passport as the only option for verification. I uploaded my driver's license anyway and it got declined within a few hours. Then I downloaded the app and there I can select driver's license as my verification option. It got verified pretty quickly and now I'm just waiting for my debit card.

          • @NovaAlpha: No luck here. Tried with the app and received the following email:

            To confirm your identity, please send us a copy of one of the following:

            Your passport photo page.
            Your national ID card (both sides).

  • +3

    What i like is that they give you your own bank account number for major currencies USD/GBP/EUR.
    Exchange rates are usually better than major bank rates.
    The mastercard is a bonus, and its free.

  • +1

    I've been using Transferwise for years and can thoroughly recommend them. I've been waiting for this card to become available in NZ so will definitely sign up.

    • Just be prepared for a lengthy wait. I signed up at least a month ago and got the card just recently. Easy enough process to get going once you get the card. The cards seem to be posted out of Australia.

  • I have been using transfer wire for year and while signing up for this card, i notice something.
    After i signed up, i went to see the bank details and it was showing some random uk address with uk account number.
    has anyone else noticed this?

    • For my NZ account it showed a valid NZ bank account number (looks like BNZ is providing the banking services) but the address was for Transferwise in the UK.

  • Hi,

    Does anyone know whether, after you receive funds into the bank account number (say, Sterling), those funds are available to be spent on the MasterCard anywhere (rather than only being available to use against a Sterling payment on the card)?

    Hope that makes sense :-)



    • +1

      I think it reads on the site that when you spend on the card it will automatically find the currency based on your available currencies and if doesn't find any, then it will make on on the fly conversion (and will let you know it is doing so) from one of your other currencies instead.

      • Thanks AleBeerenhoff.

  • +1

    I've received this card (it was at least a 4 week wait from initial sign up) and gave it a test drive in NZ when I got it. I can confirm that a transfer took probably about three hours to show up. It was available immediately to be spent. Your first transaction with the card will have to insert and use the pin. After that, you'll be able to use in contactless.

  • Thanks for sharing this mate. Been wanting to use this for a while and this deal convinced me completely.

  • Excuse my inexperience…. just wondering if I got this right. So I can add nzd and convert it to aud. Then I can take the card to australia and use it like a local? No extra fees etc.
    The only fees will be when I convert it from nzd (when I 'deposit' in to aud currency).

    Will there be a fee if I want to transfer the money back to nzd or out of the transferwire account?

    Thank you guys! I think this is a great discovery for me!! :D

    • +1

      When you add the NZD, it stays as NZD in the 'wallet' (NZ-NZ bank account because TW provides a local bank account number for different currencies available), so when you use the card in Australia, it converts based on current date rate to AUD. You can also add NZD straight to the AUD wallet, and use it straight as AUD in Australia. As AleBeerenhoff mentioned, the card will automatically find the currency based on your available currencies in the 'wallet', and uses any other currency with best rate if you run out. I keep mine in NZD so I don't lose out on multiple conversions if I travel to another country other than Australia. When you transfer funds out from TW, yes there is a fee (can't remember as I wanted to do that thinking it's free but there was a charge and cancelled).

  • Hey i am traveling to Cambodia at the end of the year. Could this card benefit me and my savings in anyway? How could i make the most of this? Cheers

  • Since a typical bank charges 2-2.5% on currency conversion and this card states there is a up to 2.24% conversion charge (so basically any transaction overseas not in NZ dollars), what is the real benefit of this card other than there is no annual fee?
    As far as I can tell it still charges a fee when you convert NZ to foreign currency as you transfer it onto the card as well?

  • I have a Transferwise account I sometime used to transfer money from NZ to my oversea bank account, let say if I want to transfer $1000 to my bank account in Australia, can I use my available fund in the card to pay the money I want to transfer? Does that incurred an additional fees?

    Also is the conversion fees mean every transaction I make oversea with the card will be charged up to 2.24% fees?

  • Is there a time limit to how long you're allowed to keep the money in the accounts for? e.g. if I had money in AUD, and I don't spend it - does it just sit there indefinitely?

  • Even though it said no foreign transaction fee. However, this card charges currency conversion rates from 0.37% - 2.24%, which in fact is foreign transaction fee (here called Offshore Service Margin). Plus, it can only withdraw money up to NZ$350 / 30 days (then it's 2%). IMO, that's not good for travellers.

    My ASB Eftpos card has Offshore Service Margin 1% (i.e. currency conversion rate), without other fee, and withdraw limit is NZ$2000 per day (there's also limit per use set by the ATM machine). It's much easy to use in the countries where credit card is not acceptable in most places. Probably not good in northern Europe, where cash is not welcome.

  • Another Netflix trial…

  • +1

    Can someone help me understand how the fees are calculated please? So far, I understand the following:

    • Borderless account = Transferwise account.

    • If you’re sending money from your Transferwise account to another Transferwise account, it’s free.

    • If you are sending money from your Transferwise account to a bank account outside of Transferwise, a fixed fee based on the destination currency is charged. E.g. if I want to send money from my Transferwise NZ account to my ASB/ANZ account, a fixed fee of $1.45 NZD is charged. So if I transfer $100, the total I'll be paying is $101.45 to make that transfer.

    If I send money from my Transferwise NZ account to e.g. an Australian bank account, a fixed fee of $1.05 AUD is charged AND there will also be a conversion fee (to exchange NZD to AUD) charged as well.

    You can find the fixed fees for the different curriencies listed here:…

    OK, so if I go to this link here:

    There are 2 options - "Send Money" and "Borderless account". Under Borderless account, there is another option called "Send money from balances". So my questions are:

    1. What's the difference between "Send Money" and "Send money from balances"?
    2. How are the fees calculated? I don't see anything related to the fixed fees that I mentioned above?


    OK, so "Send money from balances" means you are transferring from your Transferwise account to an actual bank account. The fixed fees I mentioned in the first paragraph is used in the fees calculation here. This is equivalent to the "Send -> Local" option in the app.

    Still unsure how the fees are calculated for "Send Money" though and what this is used for.

    • Good info and explain here, I also would like to know more before signing up

    • OK, got some clarifications from Transferwise on the Send Money feature.

      The send money option if you want to send money to somewhere without using your TransferWise account. You could simply set up the transaction from NZD to AUD or in other currency route.

      In this case the transfer would consist of a 2.03 NZD flat fee and 0.49% conversion fee.

      When you press "Send money" this will prompt you to set up a transfer from your bank to another bank. This is not using your TransferWise Borderless balances.

      An example is if you have a Bank of America account and you want to send to a friend in Spain, you can press "Send money, and set up the transfer directly from your local USD bank to the Spanish EUR bank.

      Your TransferWise borderless balance are the currencies that you can hold on your TransferWise account. Send Money does not use the balances in your borderless account. You can read more about borderless here:…

      Please find the fixed fee and conversion fee information here:…

      When you log into your TransferWise account, the first page you see is "Activity" and you'll see a green "Send money" button on the top right of the page. If you click that, it will take you to the pricing calculator.

      You can also click on this link to see the Pricing calculator ( for sending money without logging in.

      There is no need to use the borderless account if you just want to make a transfer from bank account to bank account, as you can just simply use the send money button. If you use the borderless account, then you'll first have to put money into the borderless account, and then you transfer it out. It is extra cost and time and more buttons to click. If you just want to transfer money from your NZD account to your AUD account or vice versa, just set up a transfer and forget about the borderless account. The fees are less, as using a borderless account would cost you extra to take the money out from it. So unless you want to get our card and travel abroad or you expect someone to pay you in a currency you don't have a local account in, then no need for using a borderless account.

      The rates are the same regardless if you use the balance or a normal transfer. We always use the mid-market rate.

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