WISE Multi Currency Account | Review and Tutorial for Beginners

⬇️Timestamps:
0:00 Introduction
0:59 PROs and CONs
3:04 Setup Guide (for Wise Multi Currency Account)
4:44 Funding Guide (for Wise Multi Currency Account)
6:17 Wise Business
8:48 Funding Interactive Brokers with Wise

The Wise multi-currency account is a great option if you live abroad or travel frequently, because its foreign transaction and conversion fees are lower than what many companies charge. It's also convenient if you work for a company that pays you in a different currency than you use, or if you send or receive money from people who live in other countries. On top of that, you can hold more foreign currencies (i.e. USD, GBP, Euro, SGD, etc.) which are historically better than MYR due to the stability of those currencies!

On the Wise website, see how much you'll pay in fees to send money to another person. The total amount depends on the currencies and payment methods (for example, a direct deposit vs. wire transfer). You'll also see the Wise fee, which includes both foreign transaction and conversion fees. Wise tells you when the money will arrive in the other account and lets you compare fees to other currency transfer services so you can see whether you're getting the best deal.

Wise has 24/7 customer support. You can fill out a form and wait for answer, use live chat, or talk on the phone.

Wise Business is business banking without the high rates, hidden charges, and monthly fees. Pay employees, get paid and manage your cash flow overseas — in one place. With Wise Business, you can get local bank details for 10 different currencies. Give them to your customers for an easy, free way to get paid. 50% of payments are instant or arrive in an hour. Effortlessly pay international invoices, vendors, and employees — with the real exchange rate, in 80 countries.

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Disclaimer: This is not a sponsored video. To make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary.

[eminen]

just a moment ago I transferred my JPY money to MYR after watching your video. I can't wait for them to credit it in to my bank acc!! Tbh the flow is smooth! and I transferred nearly rm5k and only cost me only rm45 to make transfer internationally. Which a lot cheaper than the banks offer. This is definitely a go to method.

[kannanragupathi]

This Chennai never failed to surprise me with the quality contents.. thanks Ziet 😃

[akashsxo]

Glad it is available in your country.Being such a large economy, they don't offer such services here in India 😔

[kenze]

Awesome. I can switch my wise region from US to Malaysia now.

[rtheace]

I finally found what im looking for in ur channel. Everything i needed.

[jtcool]

8.34 I thought it was my phone. I have the same tone and I actually check my notification. 🤣🤣

[louielooyi]

Let's thanks Ziet for creating such useful content again!! This video almost answers all my questions but I still have one here: 🙋‍♂️
If I open a US balance acc and receiving USD income there... (let's say money from an American company like Youtube etc)... Will I need to just declare tax to Malaysia's LHDN only, or to USA's IRS as well?

[pauljun]

Using wise since 2019, Malaysian but working in SG, Its better if u get a card from WISE, can withdraw and use anywhere in the world…

[lexustam]

Hi, very good video! May i know how we can send an invoice from wise to our US n UK customers? And once they paid, how can we withdraw it to our local bank acc? Appreciate your answer. Tq

[aminesgs]

The biggest con is that they take 7.5USD on every transfer you receive, that's huge if you often receive small transfers

[Ramize]

I shall officially start calling you Mr. Google 😂

[kc]

Hi!

I am all new to this, the purpose of me creating a wise account is that, i will be going to the US and I do not have a US bank account. Carrying cash is not an option, so I also ordered a wise bank card.

Now, I have put in 5000 usd in my wise US account, when I get to US, can I just swipe the card as normal when I purchase something or for anything else At any ways One would be using a typical bank card, Just swipe and good to go?

How would wise determine where to withdraw the money from my wise account where I have a USD account, GBP account and EURO account? Or in the basis of where I was at the time I made the purchase?

Sorry, stupid question, but honestly, I am confused.


Thank you.

[mouradbougherara]

Nice content, I learned a lot from your videos.. need a video about margin in Interactive Brokers..

[JoeyBeeFit]

Excellent video! Would you happen to know if I could get one of these cards and use it to spend in pesos without actually having a Mexican bank account? Thank you so much!

[ikhwansyahid]

been awhile ziet! good to see you with a new it up!

[iamloco]

Thanks for the video. I'll be working overseas and will be paid in USD. I need to figure out how to get my USD out of the country and send to Malaysian bank account. I guess Wise is a good choice then?

[dxtrlim]

Zeit. Do update us with direct funding of Wise into IBKR through Wire transfer and ACH. Ziest, I see you really like Wise . I can give you some idea. haha... Wise do support Passfolio and Webull funding through ACH. May be you can make a video on it. Keep up the good work.

[muhammadfaizbinkamarulhish]

Hey bro, i want to ask, i open the myr account and get the acc detail by deposit and so on, then when i open the acc detail, the bank detail was the bank partner, is there any way to change to my own bank?

[SyLeowMy]

Thanks thanks again . Can’t wait for the ibkr part 😇

[wcweng]

thx bro. will wait for your ibrk update

anyways bro. have a CARD option on the menu. how does that work?