How to Open a Wise Account as an Expat

Why Expats Use Wise

Managing money across borders is one of the most common challenges for expats and digital nomads. Traditional banks often charge high fees for international transfers and apply unfavorable exchange rates with hidden markups. Wise (formerly TransferWise) has become one of the most popular financial tools among expats because it addresses these pain points directly.

Disclosure: This guide contains affiliate links to Wise. If you sign up through our links, RoamHub may earn a commission at no extra cost to you. We recommend Wise because we believe it is genuinely useful for expats — see our disclaimer for full details.

What Wise Offers

Wise provides a multi-currency account that lets you:

• Hold money in 40+ currencies — keep balances in USD, EUR, GBP, THB, and many others simultaneously
• Get local bank details — receive money as if you had a local bank account in the US (ACH), UK (sort code), EU (IBAN), Australia, New Zealand, Singapore, and more
• Convert currencies at the mid-market rate — Wise uses the real exchange rate (the one you see on Google) with a small, transparent fee
• Send money internationally — transfer funds to bank accounts in most countries
• Use a debit card — spend in any currency; Wise auto-converts at the mid-market rate

Step-by-Step: Opening Your Wise Account

Step 1: Sign Up Online

Visit wise.com and create an account using your email address or sign in with Google or Apple. You can start the process from anywhere in the world.

Step 2: Verify Your Identity

Wise is a regulated financial institution, so identity verification is required. You will need:

• A valid government-issued ID — passport, national ID card, or driver’s license (passport is generally the most universally accepted)
• A selfie or short video — taken through the Wise app or website for biometric verification
• Proof of address — a recent utility bill, bank statement, or government letter showing your name and address (requirements vary by country)

Verification typically takes between a few minutes and two business days, depending on your documents and location.

Step 3: Add Money to Your Account

Once verified, you can fund your account by:

• Bank transfer (usually the cheapest option)
• Debit or credit card
• Apple Pay or Google Pay (in supported regions)
• Transfer from another Wise user

Step 4: Set Up Your Currency Balances

Navigate to the “Balances” section and open balances in the currencies you use. For example, if you earn in USD but live in Portugal, you might open USD and EUR balances. Each balance comes with its own account details where applicable — your EUR balance gets an IBAN, your USD balance gets ACH routing details, and so on.

Step 5: Order the Wise Debit Card

The Wise debit card is one of its most useful features for expats. You can order a physical card (and use a digital card immediately) through the app. The card lets you:

• Spend in any currency and Wise auto-converts from your balances
• Withdraw cash from ATMs worldwide (with a free allowance of approximately USD 100–200/month, after which a small fee applies)
• Make contactless and online payments

The card is currently available for delivery in most countries. Delivery times vary from a few days to a few weeks depending on your location.

Practical Tips for Expats Using Wise

1. Set up direct deposits from clients — give international clients your local Wise bank details (e.g., your US ACH details for American clients) so they can pay you as if you had a local account. This avoids costly international wire fees on their end.

2. Convert money strategically — Wise shows you the live mid-market rate. If you are not in a rush, you can set up rate alerts and convert when the exchange rate is favorable.

3. Use the card as your travel card — the Wise debit card works globally with no foreign transaction fees on card payments. It is excellent for travel within your region of residence.

4. Keep small balances in multiple currencies — if you regularly spend in several currencies (e.g., EUR, GBP, and USD), maintaining balances in each avoids conversion on every transaction.

5. Be aware of limitations — Wise is not a full bank in every jurisdiction. Depending on your country of residence, your Wise account may not offer features like direct debits, standing orders, or deposit insurance beyond certain amounts. Check what is available in your specific country.

Wise vs. Traditional Banks

Feature	Wise	Traditional Bank
Exchange rate	Mid-market (real) rate	Typically 1–3% markup
International transfer fee	Small, transparent (usually 0.3–1.5%)	Often EUR 15–50+ per transfer
Multi-currency support	40+ currencies	Usually limited
Account opening	Online, from anywhere	Often requires in-person visit
Monthly fees	None for basic account	Varies, often EUR 5–15/month

Who Wise Is Best For

Wise is particularly useful if you:

• Receive income in a different currency than you spend in
• Send money to family or accounts in other countries regularly
• Travel frequently and want to avoid foreign transaction fees
• Need bank details in multiple countries (e.g., a US account number and a European IBAN)
• Want transparent pricing with no hidden fees

It works well as a complement to a local bank account rather than a complete replacement — especially if you need services like mortgages, large loans, or country-specific financial products.

Get Started

You can open your Wise account at wise.com. The signup process takes approximately 10 minutes, and most accounts are verified within a day or two.

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This guide is for informational purposes only and does not constitute financial advice. Features and fees may vary by country of residence. Check the Wise website for the most current pricing and availability in your region.