Wise launches multi-currency card in India amid record outbound travels
What's the story
Wise, the global fintech company, has launched its multi-currency travel card in India. The launch comes at a time when the country is witnessing record-high outbound travel numbers. In 2024, India recorded a whopping 38.9 million overseas departures led by leisure trips, family visits abroad and business travel. The new card aims to provide Indian travelers with transparent pricing and no hidden fees while spending abroad.
Fee waiver
It waives issuance fee for early sign-ups
The new multi-currency travel card from Wise comes with no annual fees, subscription charges or inactivity penalties. The company is also waiving its ₹460 card issuance fee for customers who sign up before February 10, 2026. This move is part of Wise's strategy to attract more users and provide them with a cost-effective solution for their international travel needs.
Card features
Competitive rates and real-time alerts
Wise's new travel card uses the mid-market exchange rate and displays a clear conversion fee. It works in over 160 countries through the Visa network. Users can withdraw cash up to $200 a month for free, after which a fee of $1.40 plus 3.25% is charged. The card also offers features like freezing/unfreezing the card, setting spending limits, and getting real-time alerts for transactions made abroad.
Currency support
Wise's travel card supports over 40 currencies
The multi-currency travel card from Wise supports over 40 currencies, including those of popular tourist destinations like Vietnam, Indonesia, Turkey, and Georgia. Customers can complete onboarding through DigiLocker and video KYC. They also get an instant digital card for online use and can top up through IMPS. This flexibility makes it a convenient choice for Indian travelers venturing abroad.
Market challenge
It addresses hidden fees issue
The launch of the multi-currency travel card comes as a solution to the problem of hidden fees charged by traditional forex providers. Banks and travel companies usually add 2-4% to currency conversions, which can cost travelers between ₹4,000 and ₹8,000 on a ₹2 lakh transaction. With its transparent pricing model, Wise hopes to attract Indian consumers who are increasingly looking for clarity in fees and exchange rates.