Why I Use Wise to Save $$$ on Currency Exchange & Global Transfers
I gave Revolut the old college try, but Wise won out in the battle for this digital nomad's international business

Juggling multiple currencies from one country to another can be a giant pain in the neck. Currency exchange rates and international banking fees can eat a big hole in your pocket – but they don’t have to.
It physically hurts when I think back on how much money I’ve lost exchanging Canadian currency for USD or Euros through the big banks 😭
And let’s not even talk about PayPal. 👿 When I started out as a freelance writer in 2004, that was pretty well our only option for receiving payments online from global clients. Their exchange rates and payment processing fees were brutal.
Thankfully, we have other options today.
Disclosure: Midlife Nomads often refers and links to websites, apps, and products/services I actually use. Sometimes, I receive compensation if readers sign up or make a purchase. A girl’s gotta eat – and travel! ✈️
I’ve tried different ones, but Wise is the one that stuck. I have friends who rave about Revolut, for example, but I had a poor experience with them myself.
So… thank you, next.
Withdrawing Local Currency While Traveling
One of the biggest perks of using Wise is how easily it lets me hold and exchange multiple currencies. I travel a lot and work remotely with clients worldwide, so managing different currencies in one place is sanity-saving. With Wise, I can keep my Euros, USD, British pounds, and more in one account and switch between them with just a few clicks.
Being able to withdraw from local ATMs is a huge plus. As of June 2024, Wise handles 40 currencies and works in 140 countries. But in Nicaragua, for example, Wise doesn't support a Nicaraguan currency account directly.
I want local currency for taxis, markets, and the cafes I spend too much time at, and I want to have it without having to plan trips to the bank or carrying a bunch of cash around from one big cash counter exchange.
(There are off-market money exchangers you can go to… they’re called “Coyotes” and although people I know say they’re okay, I’m too scared to hand over a wad of cash in the street to some dude and just hope for the best.)
Anyway, Wise lets me withdraw USD, which is commonly used, or I can withdraw Nicaraguan cordobas. Wise handles the currency conversion in real-time inside its system, so I’m getting cordobas but not paying ATM or local bank conversion fees.
(You may still have to pay ATM fees, regardless of what type of card you use, so watch out for those and compare the fees at ATMs you use often.)
This one bank card works seamlessly across multiple countries, which is incredibly handy. Boom, I’m shopping at a Christmas market in Portugal and need debit. Done. Now I’m visiting a friend in Brazil and need groceries. Easy. I’m in Estonia and need to get Euros out for spending money. No problem.
Accepting Payments Worldwide
As a remote worker dealing with international clients, Wise has been indispensable. It allows me to accept payments in various currencies, whether it's Euros, USD, or British pounds.
I can easily receive ACH payments from US companies, for example, and when I’m invoicing a European company, they can send me a domestic transfer. It makes the whole process of getting paid for ongoing contract work smooth and hassle-free.
Another big digital nomad bonus here is Wise’s direct integration with Xolo, the company that manages my VAT-compliant invoicing, accounting, and tax reporting in Europe.
Again, I tried Revolut, but after a confusing month of back-and-forth trying to get approved for an account, they rejected my application. I went to Wise and was up and running in days. Revolut came back another month later, saying oops, we can actually help you now after all.
😒 Nah. We good.
Now, I did have one panic experience with Wise, where my account was frozen briefly due to a glitch in their technical matrix. Panic ensued. They did fix it, but I’d advise not to use it as a traditional bank, keeping a large sum of money in your Wise account, for that reason.
Same with PayPal… but we’re not using PayPal anymore, right? They’ve also been known to freeze user accounts for dubious reasons, sometimes for a very long time.
Sending International Transfers to Family
Outside of business, Wise is also great for sending money internationally for personal reasons. If you’ve experienced the frustration of hidden fees and poor exchange rates when sending money to family or friends abroad, you’ll want to give it a try.
According to the World Bank, the global average cost for cross-border transfers is a whopping 6.3%!
Wise cuts through that nonsense with transparent fees and real-time exchange rates. They offer an online calculator so you can see exactly what your transfer will cost before you hit send. If you don’t like the exchange rate, you don’t have to complete the transaction. Simple as that.
If you’re still converting travel money at cash counters or dealing with high fees from other platforms, you might want to give Wise a try.
I’ve been using their services for business and personal for several years now. Whether you’re a digital nomad, a frequent traveler, or someone who needs to send money abroad regularly to family or friends, Wise lets you keep more of your money for you.
Register here using my link and get a fee-free transfer of up to CA$800 to try it out.