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Wise (TransferWise) Multi-Currency Account review

Receive and convert 50+ currencies from around the world.

This borderless account may be a good fit for businesses, traders and those living abroad. It works like a multicurrency account, seamlessly exchanging your money when you need to. Wise is upfront about its fees and doesn’t charge commission, but withdrawals at ATMs are limited and it doesn’t support all currencies yet.

This review will cover the pricing and features of Wise’s Multi-Currency Account in Ireland so you can see if it’s the right fit for you.

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0 €

Maintenance fee

0.50 €

ATM fee

0.35 to 2.2%

Currency conversion fee


Product NameWise Multicurrency Account
Fee periodMonthly
Maintenance fee0 €
Account TypeDigital banks
Online account onlyYes
Supported currencies


Card deliveryUp to 14 working days
Go to site
More Info

Must read: TransferWise has rebranded to Wise

TransferWise has changed its name to Wise. Nothing will change if you are a current customer.

How does the Wise Multi-Currency Account work?

The Wise Multi-Currency Account (formerly the Wise Borderless Account) is a bank account that lets you hold multiple currencies, spend worldwide and transfer money at better rates than the banks. It’s designed as a global bank to help you manage your finances in multiple currencies and countries.

You will get 10 local bank account details including an IBAN, UK sort code, US routing number and Australian BSB so you can shop and spend like a local in multiple countries at once. You can also hold and convert money in 50+ currencies and transfer money to over 70 countries. If you need access to multiple currencies for travel, to send or receive money from home or to shop online with overseas websites, this multi-currency account is a great option to consider.

Key features of Wise

Wise accounts are free to open and come with an assortment of useful features.

  • Local bank details. Your Multi-Currency Account is really multiple accounts in one as you will get local bank details in 10 countries, including the UK, US, Turkey, Australia and Singapore.
  • Spend abroad. You can use your card in 200 countries, with your money being converted into the local currency using the real exchange rate.
  • Multiple currencies. Hold and convert up 50+ currencies in your account.
  • Mobile payments. You can spend in Ireland and abroad using Apple Pay and Google Pay.
  • Low-cost foreign transfers. Wise boasts a transfer rate that is up to seven times cheaper than traditional banks. You can send money to over 70 countries.
  • Debit card security. Freeze and unfreeze your card if it’s lost or stolen, receive spending notifications and access PIN reminders.
  • Multiple language support. You can get help from Wise in a range of languages.

Wise’s currency transfer service

Wise fees

  • €0 monthly fee
  • There is a currency conversion fee of 0.35 to 2.2% depending on the currency you’re transferring to
  • A one-off €7 fee for your debit card
  • Receive 2 withdrawals up to €200 per month free. Withdrawals over €200 per month cost 1.75% while you will need to pay €0.50 per withdrawal if you withdraw cash more than twice in one month.
  • No fee to spend in currencies held on in your account
  • If you hold more than €15,000 you will be charged 0.40% annually.

Pros and cons


  • Bank like a local. Access to 10 different local bank details, allowing you to shop like a local.
  • Supports multiple currencies. Hold and convert 50+ currencies from your account
  • Offers the mid-market rate. Wise uses the mid-market rate, the best you can get on money transfers.
  • Easy money transfers. Send money to more than 70 countries.


  • Not all currencies or countries are supported. Check to see whether the countries and currencies you are financially linked to are supported.
  • Send money to bank accounts only. Money transfers can only be made into your recipient’s bank account. Not ideal if they don’t have one.


If you need to bank using more than one currency, the Wise Multi-Currency Account is definitely one to consider. Not only does it let you hold multiple currencies but you can essentially spend like a local in 10 countries with local bank details. You can also hold up 50+ currencies in your account and transfer money to more than 70 countries.

However, there are some fees to note, including the card delivery fee of €7 and ATM fees if you go over the limit.

The account is worth it for those that will use the international spending features, but there are other digital bank options available if this account comes with too many bells and whistles.

Experiences from other Wise users

Wise scores 4.6 out of 5 based on 132,250+ reviews and is rated Excellent on Trustpilot.

User ratings# of reviewsWhat do customers say
4.6 / 5132,250+
  • “Quick and seamless for those of us who like to travel or freelance with international clients. Fees are minimal and currency conversion rates are always highly competitive. I especially love being able to use contactless/Apple Pay for my Wise accounts.” — Kendon C
  • “Excellent account for holding money in multiple currencies, transferring money between currencies at the best rates, and paying for goods in the local currency. Great way of paying taxes in the currency of the relevant tax authority, eg IRS. Wise provides helpful email notifications about all activity on your account.” — John
  • “They (Wise) charge a number of fees for every minor operation. It is hard to keep track of the fees while you are using the service. Reading through the negative reviews you can see that they block accounts randomly without reason. Accounts can be simply blocked, deactivated and frozen, without warning, even if they have already been funded. There are better alternatives that provide currency exchange without the fees and the risk of losing your money.” — MV

*Note: Information provided is based on the reviews and rating on Trustpilot (19 October 2021).

How to apply

It only takes a few minutes to open an account with Wise online, but verifying your identity takes about two days to process. Anyone over the age of 18 and residing in Ireland can sign up for an account.

Here is how to sign up:

  1. Click “Go to Site” from this page to be securely redirected to the Wise website
  2. Enter your email address and password and select your country of residence, then click “Sign up”
  3. Verify your identity using your government ID such as your NRIC, passport or driver’s licence
  4. Add money to your account and order your card. It’s now ready to use!

Compare a range of digital banks in Ireland

Name Product Monthly Fee Free ATM withdrawal limit Supported currencies
N26 Bank Account
0 €
3 withdrawals per month


Benefit from no monthly fee, no currency conversion fees and a raft of in-app budgeting features to help you save.
Revolut Standard
0 €
€200 per month


Enjoy no monthly fee, no currency conversion fees up to €1,000 per month and hold an array of currencies in your account.
Wise Multicurrency Account
0 €
2 withdrawals up to €200 per month


Wise (formerly TransferWise) is an international account with over 50 currencies, instant and very convenient money transfers, a card to spend in any currency, bank details to be paid in 30 different countries and multi-currency direct debits.
Wirex Standard
0 €
€400 per month


Get a Welcome Bonus of $15 USD in WXT when you sign up with Wirex through Finder.

Benefit from an array of digital payment features, including a free prepaid Wirex card and unlimited fee-free transfers at interbank rates - with zero monthly subscription fee.

Compare up to 4 providers

Name Product Monthly Fee Free ATM withdrawal limit Supported currencies
Revolut Premium
7.99 €
€400 per month


A combined current account and IBAN account with unlimited free currency conversions and international transfers in many currencies.
bunq Easy Money Personal
8.99 €
4 withdrawals per month


A card linked to up to 25 individual IBAN accounts. Earn interest on all money in your account and benefit from competitive rates and fees.
N26 Smart
4.90 €
5 free withdrawals per month


A mid-tier, premium subscription plan that comes with a range of essential money management features to help you better manage your finances.
Revolut Plus
2.99 €
€200 per month


Enjoy purchase, event ticket and returns protection, plus other innovative features with this lower-priced subscription plan.

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