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196 posts

Master Geek

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  # 2311491 5-Sep-2019 20:38
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Got mine a few weeks back, I like it. I've also got a Monzo account, and whilst I do prefer that (because I'm a Plus member), TW is high on my list of go tos





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dan

1123 posts

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  # 2311558 6-Sep-2019 07:46
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im still waiting for my card its been a few weeks already

 

i like the app however "use fingerprint to log in" setting is completely broken on my note 10+ when trying to enable it

 

 

 

Click to see full size

 

 


 
 
 
 




2225 posts

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  # 2311601 6-Sep-2019 09:19
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freitasm: Got my card here today.
Lucky you...I ordered mine on 16th and still waiting. 

 

Not rural or backblocks either...suburban Auckland. 





Handsome Dan Has Spoken.

134 posts

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  # 2311916 6-Sep-2019 17:43
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I went through a comparison of costs for overseas travelling about 4 months ago and came to the conclusion that none of the travel cards (e.g. Travelex Money Card, KB Loaded for Travel) gave much advantage over using my existing credit and debit cards.

 

However, TransferWise changes that with their debit card giving small savings, but loads of other advantages as other posters have alluded to. I would save about NZD25 per USD1000 compared to spending it on the credit card. Hey, that’s 2.5 pints of beer – don’t scoff! There is of course loss of interest (yes, I know) that you would normally get in a NZ bank account.

 

Using the TW debit card would also mean I could leave my bank debit card at home which is a big security advantage. The only security disadvantage I can see with the TransferWise debit card over a credit card is that there are no limits on spending - up to the level of money on the card.

 

When in Colombia recently, most of my UK friends I met over there were all using some sort of travel card similar to this one and swore by them.

 

A couple of good reviews:

 

Moneyhub: https://www.moneyhub.co.nz/transferwise-review.html

 

Monito (UK bias): https://www.monito.com/en/wiki/best-travel-money-card-compared

 

I will probably get one, only disadvantage is that there are no joint accounts that I can see.


223 posts

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  # 2311917 6-Sep-2019 18:04
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Ok guys I got to ask about something i feel a little uneasy about with this, and that is having to give these people your complete identification to sign up ( I understand that they need to know who they are dealing with, just like a bank) as we don't really know who the company really is or the people that are handling our personal details, I read the marketing blurb, but really no difference than Google or Facebook with all the assurances they gave, and we've seen time and time again that our personal information in simply not safe with these companies, so is everyone ok with giving all your details to TransferWise? Did you really have to send copys of both your license and passport to them?




tenkan

544 posts

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  # 2314428 10-Sep-2019 18:13
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Just got my card in the mail today. Activated it through the app easily.

 

I was intrigued to see the back of the card has a note saying "This card is issued by Transferwise Ltd  pursuant to licence by Mastercard Asia/Pacific Pte. Ltd" (similar to certain other NZ issued Mastercard/Cirrus cards). Seeing as they delivered the card from the UK, I had wondered if the card would carry a BIN number for UK cards as it could open up options for shops who restrict which countries they accept payments from. So I looked up the BIN (535182) at a few places online and it seems that BIN is specially for NZ-issued cards.

 

Printing the card in the UK and sending it by Royal Mail is a black mark against them IMHO. They should just have their NZ cards printed/delivered by whoever does it for the NZ-based issuers. I've never had to wait more than 3 days for local cards vs over 3 weeks for TransferWise...


 
 
 
 


dan

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  # 2314435 10-Sep-2019 18:39
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my wife got her card, mine seems to have a delay i ordered mine before hers

 

 

 

added some NZD to it, tried it at the diary, no probs

 

 

 

i then checked it on a ANZ Atm at the diary, doing a balance on CHQ SAV and CREDIT all showed 0.00 balance even tho there

 

is some NZD left  (the app does show the correct balance)


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Ultimate Geek

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  # 2314505 10-Sep-2019 19:53
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Transferred some money from Kiwibank to my Travelwise's NZ bank account number (managed by BNZ). I was surprised to see the transaction processed on Travelwise's side within the hour. That's pretty good as I recall the Qantas/Air NZ cards usually taking overnight to do so.

 

dan:

 

i then checked it on a ANZ Atm at the diary, doing a balance on CHQ SAV and CREDIT all showed 0.00 balance even tho there

 

is some NZD left  (the app does show the correct balance)

 

 

This is a known issue. Their website says "Keep in mind that you can't check your balance at ATMs yet — but the TransferWise app will always show it."  Is this also an issue with other multi-currency cards?


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  # 2314653 11-Sep-2019 07:12
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KiwiSurfer:

 

This is a known issue. Their website says "Keep in mind that you can't check your balance at ATMs yet — but the TransferWise app will always show it."  Is this also an issue with other multi-currency cards?

 

 

I don't think there are any Visa / Mastercard based debit cards that allow you to view your balance from an ATM.

 

As for dispatching cards from NZ it wouldn't make sense to do this - they're such a smaller player the costs of having to do it wouldn't stack up.

 

Trying to grow market share when there are no compelling benefits over a regular credit card will be difficult. There are clear benefits to this product if you're regularly transfering money to other countries (and the UK pension example is a great one), but for many people there are zero benefits over just using your normal credit card for travel.

 

 


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  # 2318157 15-Sep-2019 17:05
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Any thoughts on TransferWise vs Payoneer? I tend to receive small payments into a USD account, and transfer USD from paypal to the card's account.

 


Payoneer has worked fine for a few years, but their customer service is really poor. To even get them to reply to a question is a challenge, even though I only need to communicate with them about once every 18 months. They were OK when I got unauthorised charges on the card a couple of years back, but otherwise, terrible service.


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  # 2318228 15-Sep-2019 20:51
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freitasm:

 

With Payoneer you can withdraw to a NZ Bank. Not sure with TransferWise.

 

 

Thanks M. I don't need to do that - I just need to get money into a USD account and spend it with a credit card. For that use how is TransferWise?




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  # 2318349 16-Sep-2019 08:08
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freitasm:

 

With Payoneer you can withdraw to a NZ Bank. Not sure with TransferWise.

 

 

Yes - with TFW you can open a NZ-based NZD account and use it like a normal account, with their debit card attached to it. 





Handsome Dan Has Spoken.

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