Why Wise Is a Must-Have for Long-Term Travel and Remote Work
You just got paid, and now what?
This is a common question that most remote workers, regardless of their industry, ask themselves. Being a long-term traveler has many advantages, but the lifestyle can also bring immense frustration when it comes to managing digital finances.
Have you ever experienced this?
Sky-high bank transfer fees
Pain in the butt exchange rates
Turtle slow transfer times
Unclear transparency
Challenges getting paid while being overseas
Card doesn’t work overseas because it is foreign
What if I told you there was a way to streamline all of these annoying challenges when dealing with finances as a remote worker?
Wise
What is Wise?
Citizen Remote — TransferWise was founded in 2011 by two friends who thought it should be easier and cheaper to move money between countries and currencies. As popularity grew, the founders realized that there was demand beyond money transfers, so they rebranded to Wise, which now includes multi-currency accounts, a debit card, and business accounts. Although they have continued to grow and adapt, the main mission stays the same: move money internationally quickly and transparently.
When you’re living or working across borders, every transaction counts — from ATM withdrawals to international payments. Wise (formerly TransferWise) has become a go-to tool for digital nomads, remote workers, and long-term travelers looking to manage their money more efficiently, affordably, and globally.
Here are four reasons why Wise should be in your financial toolkit if you’re traveling long-term or working remotely:
Real Exchange Rates with No Hidden Fees
76.00 dollars was the fee I paid for taking out 25.00 USD to exchange for ARS, Argentine Peso.
This is a painful example of dealing with a hidden fee. Hidden fees are like mosquito bites that you don’t even notice. All of a sudden, your arm is itching, and you ask yourself, “Where in the heck did this come from?”. It comes out of nowhere.
How traditional banks work with international money transfer fees:
They have numerous hidden fees, such as exchange rate markups, incoming wire fees, or fees for editing or canceling the transaction.
Banks must abide by the destination country’s regulations, which affect the fees.
The larger the amount of money you send, the higher the fees will be.
Traditional banks and currency exchanges often mark up the exchange rate and tack on additional fees. Wise uses the real mid-market exchange rate (the one you see on Google) with a transparent, low service fee.
Example: Converting $1,000 USD to EUR through Wise often saves $30–$50 compared to a traditional bank.
Check out what “Moving to Spain” had to say: “The Wise debit card lets you spend money in over 200 countries without hidden fees or poor exchange rates. This is especially beneficial for daily expenses in Spain, as you can use the card like a local without incurring additional charges.”
Multi-Currency Account with Local Bank Details
The more options you have, the easier your life will be.
If you are a Freelancer who has expanded your clientele worldwide, you will likely have multiple currencies deposited into your bank account. There are challenges associated with holding numerous currencies in a single account. One of the biggest challenges is that some accounts do not have certain currencies.
What are some of the other challenges you may face when dealing with multiple currencies in your account?
Fluctuating exchange rates make the exchange market as unpredictable as the weather.
App and dashboard confusion can lead to multicurrency wallets being cluttered with balances across different units.
Limited local support may not allow Customer support to understand the complexity of multicurrency use, especially in smaller banks.
Wise lets you hold and manage over 40 currencies in one account — and gives you local bank details in major currencies like USD, GBP, EUR, AUD, and more.
Perfect for:
Getting paid as a freelancer or remote worker in multiple currencies
Avoiding conversion fees when spending in local currency
Sending money to landlords, co-working spaces, or local vendors
Jobaroo explains a huge benefit: “Spend like a local — you get to hold 50 currencies and get international bank details in 10 currencies (USD, CAD, GBP, EUR, AUD, NZD, SGD (Singapore dollars), TRY (Turkish lira), RON (Romanian lei), and HUF (Hungarian Forint) and Get a MasterCard or Visa debit card for ATM withdrawals, online shopping, as well as contactless in store payments (supported in 200+ countries)”
A Debit Card That Works Globally (and Cheaply)
Have you ever tried to use your debit card in another country and it didn’t work?
This happened to me in Rio De Janeiro, Brazil. The result was that not only did the card not work, but my bank at the time also shut down my card, making life hell. Not all cards are created equal.
Reasons why your debit card may not work:
Fraud prevention, banks take every precaution to prevent it.
Many domestic cards have limited networks and don’t belong to many overseas.
Believe it or not, some cards still lack updated technology, such as a chip for scanning.
With the Wise debit card, you can:
Spend in local currency with low conversion fees.
Make free or low-fee international ATM withdrawals.
Freeze/unfreeze your card instantly via the app.
It’s one of the few travel cards that doesn’t punish you with outrageous fees or poor exchange rates.
Girl Eat World — “Unless your bank gives you a mid-market rate and no foreign transaction fees, you’ll stand to benefit from using the Wise Card. Overall, I find using the Wise card translated to be the same conversion rate as using cash converted at the best money changer, but without the hassle of converting, carrying and managing cash throughout your trip.”
Easy International Transfers, Fast and Reliable
Have you ever tried to send money back home or money to a friend in another country, only to come across multiple obstacles?
Wise makes it easy to transfer funds to over 160 countries, often in minutes or hours, and at a fraction of the cost of banks or PayPal.
No more waiting 3–5 business days or wondering where your money went.
Common reasons why international bank transfers are a pain in the butt.
Multiple Intermediary Banks (the “Correspondent Banking” System)
Most banks don’t have direct relationships with banks in every country.
So, your money may pass through several intermediary (correspondent) banks, each of which may take a cut in fees and introduce delays.
Each bank adds a step: verify → convert → forward → repeat.
Transfer Times Can Be Long
Unlike instant domestic payments, international transfers can take 2–5 business days or more.
Weekends, holidays, and time zones add further delay.
Paperwork or manual processing is still standard in some countries.
Why use Wise for bank transfers?
Faster Transfer Times
Because Wise uses local payouts, transfers often arrive:
Within minutes to hours for major currencies
1–2 business days for most others
This is significantly faster than the 3–7 days it might take through a traditional international wire.
Transparent Tracking
Wise gives you real-time updates on your transfer:
When it starts
When it’s being processed
When it’s completed
No need to call your bank and wait on hold to ask: “Where’s my money?”
Final Thoughts
If you’re living a global citizen life, you need a financial solution that’s flexible, transparent, and global. Wise checks all those boxes and more, making it a must-have for long-term travelers and remote workers who want to save money, simplify their finances, and stay in control.
Cost-Effective International Transfers: Wise is known for offering competitive exchange rates and low, transparent fees, which can result in significant savings compared to traditional banks and other money transfer services.
Transparent Fees: Wise is committed to transparency and displays the fees and exchange rate upfront before you make a transfer, allowing you to see exactly how much you’re paying and what your recipient will receive.
Mid-Market Exchange Rate: Wise uses the real, mid-market exchange rate (the same one you’d see on Google or other financial sites) with no markup, ensuring you get a fair rate for currency conversions.
Fast Transfers: Wise transfers are often quicker than traditional bank transfers, with a significant percentage of payments arriving instantly or within 24 hours.
Multi-Currency Account: The Wise Account allows users to hold and manage balances in over 40 different currencies, making it convenient for those who deal with multiple currencies regularly.
International Debit Card: The Wise Multi-Currency Card allows users to spend and withdraw cash in various currencies around the world with low or no foreign transaction fees.
Convenient for Travelers and Expats: Wise is a popular choice for travelers and expats who need to manage their finances across different countries and currencies.
Useful for Businesses and Freelancers: Wise Business accounts offer features and integrations tailored for businesses and freelancers, including cost-effective international payments, invoicing tools, and batch payments.
Security and Regulation: Wise is a regulated financial institution and employs strong security measures to protect customer funds and data.