How to Withdraw from Wise: A Financial Guide

How to withdraw from Wise

This article explains in clear, practical steps how to withdraw from Wise (formerly TransferWise). If you hold fiat in a Wise multi‑currency account or use the Wise card, this guide shows the main withdrawal routes — sending money to a bank account and withdrawing cash at an ATM — plus fees, limits, verification, troubleshooting and tips to reduce costs. Read on to quickly find the step‑by‑step instructions for web and mobile, ATM guidance, and security precautions.

Overview of Wise accounts and balances

Wise provides a multi‑currency account that can hold 40+ currencies and offers local receiving details in many markets (for example USD, EUR, GBP). The multi‑currency balance is a custodial fiat balance held by Wise on your behalf — it is not a bank account in all currencies but Wise provides local account details for receiving bank transfers in supported currencies.

When you consider how to withdraw from Wise, it helps to understand the difference between a Wise balance and an external bank account:

• Wise balance: an online fiat balance in one or more currencies you control within the Wise app or web dashboard.
• External bank account: a bank account you own outside Wise, which can receive transfers from your Wise balance.

You can move funds out of your Wise balance either by sending to an external bank account or by using the Wise Multi‑Currency Card to withdraw cash from ATMs.

Main withdrawal methods

There are two primary and widely used ways to withdraw from Wise:

1. Withdraw to a bank account (send money from your Wise balance to a linked or new bank account).
2. Cash withdrawals with the Wise Multi‑Currency Card (use the card at ATMs to withdraw local currency).

Alternative flows include sending money to another person’s bank account, or transferring funds from Wise to another payment provider — but the two methods above cover most user needs.

Withdraw to a bank account (online/app)

Typical use cases for withdrawing from Wise to a bank account include paying rent, moving funds to your main bank, or consolidating balances. The high‑level flow is simple:

1. Select the currency you want to send from in your Wise balance.
2. Choose Send (or Transfer).
3. Enter the recipient account details (your external bank account or a new recipient).
4. Confirm and send.

Wise shows you estimated fees and delivery time before you confirm the transfer. This route is usually best for larger amounts or when you prefer bank transfer traceability.

Cash withdrawals with the Wise Multi‑Currency Card (ATM)

If you need cash, the Wise Multi‑Currency Card lets you withdraw local currency at ATMs that accept Visa or Mastercard (depending on the card network Wise issues in your country). Key points:

• Order and activate the Wise card in the app or web dashboard.
• Ensure you have the currency you want in your Wise balance or allow Wise to convert for you.
• Use supported ATMs when travelling or locally.
• Decline any ATM prompt that offers on‑the‑spot currency conversion to avoid marked‑up rates.

ATM withdrawals are convenient for immediate cash but can incur per‑withdrawal fees beyond the free allowance and may attract third‑party ATM operator charges.

Step‑by‑step procedures

Below are short, actionable procedures for the most common withdrawal scenarios. Each step is written to follow normal web or mobile flows and uses standard Wise terminology.

Step‑by‑step: Withdraw to your own bank account (web)

1. Log in to your Wise account on the web.
2. From Balances, choose the currency you want to withdraw from.
3. Click Send money (or Transfer).
4. Choose You or a New recipient and fill in the bank account details (IBAN, account number, routing number depending on destination).
5. Check the fee and estimated delivery time shown by Wise.
6. Confirm the transfer and complete any required verification (2FA or code).
7. Track the transfer status in Activity or Transfers.

This is the standard web flow when you are moving funds from Wise to a bank account.

Step‑by‑step: Withdraw to bank via mobile app

1. Open the Wise app and sign in.
2. Tap Balances and choose the currency to withdraw.
3. Tap Send and select the recipient (your linked bank or add a new account).
4. Enter the amount and review fees and arrival time.
5. Confirm and authenticate as required (biometrics or PIN).
6. Monitor the transfer in the app under Activity.

The mobile UI mirrors the web flow but uses compact, touch‑friendly screens.

Step‑by‑step: ATM withdrawal with Wise card

1. Order your Wise Multi‑Currency Card in the app (if you don’t have one).
2. Activate the card in the app when it arrives and set your PIN.
3. Make sure your Wise balance has the local currency you intend to withdraw, or enable Wise to convert for you before withdrawing.
4. Find a nearby ATM that accepts Visa/Mastercard.
5. At the ATM, insert or tap your card, decline any 'dynamic currency conversion' prompts, enter your PIN and select the withdrawal amount.
6. Take your cash and receipt; check your Wise activity for the transaction record.

Declining ATM currency conversion is recommended to keep Wise’s transparent mid‑market rates instead of a high mark‑up from the ATM provider.

Fees, free allowances and limits

Wise’s pricing model for withdrawals combines transparent fees, a free allowance in many regions, and potential third‑party ATM operator charges. Exact numbers vary by issuing country and over time, so always check Wise’s pricing pages before initiating withdrawals.

Typical elements include:

• Monthly free ATM allowance: many users get a monthly allowance (for example a number of free withdrawals up to a combined amount) after which standard ATM fees apply.
• Per‑withdrawal fee: beyond the free allowance, Wise often charges a small fixed fee plus a percentage for currency conversion.
• Conversion fee: when Wise converts currency for an ATM withdrawal, a transparent conversion fee applies.
• Third‑party ATM fees: some ATMs charge their own fee for cash withdrawals that Wise cannot refund.

Because rates and allowances differ by card issuing country and by the currency you hold, review the fee breakdown shown by Wise before confirming any withdrawal.

How Wise applies conversion fees and exchange rates

Wise uses the mid‑market exchange rate and charges a transparent conversion fee (a small percentage) when converting currencies inside the platform. This is typically cheaper than accepting an on‑site ATM currency conversion.

Best practice: convert funds inside Wise to the exact local currency before using the card at an ATM. Converting in the app or web ensures you get Wise’s mid‑market rate plus the stated conversion fee and avoids hidden mark‑ups applied by ATMs that offer dynamic currency conversion.

Withdrawal processing times

• Bank transfers: many common routes are completed same‑day or within 1–3 business days. Timing depends on the destination country, currency, and receiving bank processing times.
• ATM withdrawals: cash dispensed immediately at the ATM. Wise posts the transaction in your activity shortly after.

Exact times vary by payment rail, currency, and local banking cut‑offs.

Where you can use the Wise card and ATM specifics

The Wise card works in many countries where Visa or Mastercard is accepted (network depends on the card issued in your country). Considerations:

• Geographic coverage: Wise card acceptance is broad but some countries and ATM types may be restricted by local rules or Wise’s issuing agreements.
• Issuing country limits: cards issued by different Wise entities (for example UK issuance vs EU issuance) may have different local rules and limits.
• ATM specifics: some ATMs in specific countries behave differently — for example certain ATMs may not support PIN changes or may treat contactless differently.

To find compatible ATMs, use global ATM locators for Visa or Mastercard networks and review Wise’s country pages for card availability and restrictions.

Security, identity verification and compliance

Wise adheres to Know Your Customer (KYC) and Anti‑Money Laundering (AML) rules. To withdraw larger amounts or to access some features, Wise may require additional identity verification.

Common verification steps include:

• Uploading a government ID (passport, national ID or driver’s licence).
• Proof of address (utility bill or bank statement).
• Source of funds or source of wealth in some scenarios.

Why Wise may block or delay withdrawals:

• Unusual activity or transactions outside your normal pattern.
• Required verifications incomplete.
• Regulatory holds for cross‑border transfers into or out of certain currencies.

To avoid delays: verify your account fully early, keep documentation up to date, and respond promptly to any Wise requests.

Troubleshooting common issues

Below are typical problems users face when they try to withdraw from Wise and practical fixes.

• Transfer pending or taking longer than expected: check the transfer’s activity details for the route and estimated arrival time. If the receiving bank is slow, allow 1–3 business days and contact Wise support if the transfer is delayed beyond the indicated time.
• Transfer failed: confirm recipient account details and any error messages. Some failures are due to incorrect IBAN or routing numbers. Correct details and retry.
• ATM performed dynamic currency conversion (bad exchange rate): report the ATM operator’s receipt to Wise support and provide evidence. Wise may not always refund third‑party conversion losses but can advise.
• ATM charged a third‑party fee: this is usually levied by the ATM operator. Check the receipt and Wise activity; Wise may be able to advise but typically cannot refund an operator’s fee.
• ATM did not dispense cash but card was charged: contact Wise support immediately and file a claim with the ATM operator if possible. Provide timestamps and receipts.
• Card declined: check available balance, allowed withdrawal limits, PIN, and whether the card is activated. Some ATMs or merchants block certain card types; try another ATM or contact Wise.
• Limits exceeded: verify your monthly free allowance and per‑transaction limits. Consider converting funds to the required currency in Wise and splitting withdrawals to stay within free tiers.

When in doubt, use Wise’s in‑app help or contact support with screenshots and transaction IDs. Keep a record of all relevant receipts.

Special cases and related flows

• Withdrawing to an account not in your name: Wise generally allows transfers to third‑party accounts but may require justification and additional checks depending on the route and local regulations.
• Business vs personal accounts: business Wise accounts may have different fee structures, higher limits, and different verification requirements.
• Withdrawals of proceeds from a share sale: if you receive fiat into Wise from the sale of shares (for example proceeds deposited by your broker), the withdrawal process from Wise remains the same — send to a bank account or withdraw via card. Remember brokers and custodians have their own timelines and rules before they release funds to Wise.
• Receiving funds from platforms: funds sent from other services (for example payment platforms) to your Wise local receiving details will appear in your Wise balance and can then be withdrawn using the standard Wise withdrawal options.
• Adding cash to Wise: most regions do not support direct cash deposits into Wise balances. Check Wise’s local guidance if you need to add funds via partner services.

Best practices and tips to minimise costs

To keep fees low and withdrawals smooth when you learn how to withdraw from Wise, consider the following practical tips:

• Compare fees and convert inside Wise: convert currency inside Wise before withdrawing cash to avoid ATM dynamic currency conversion.
• Consolidate ATM withdrawals: combine cash needs to reduce per‑withdrawal fees and stay within the monthly free allowance.
• Confirm recipient details: always double‑check IBAN and routing numbers before sending — corrections can add time and cost.
• Use supported ATMs: choose ATMs from reputable banks or network partners to reduce the chance of third‑party operator fees.
• Keep verification current: completing KYC in advance reduces the risk of holds when withdrawing larger amounts.
• Monitor activity: enable push notifications and email to track withdrawals and catch issues quickly.
• Use local receiving details where possible: receive payments into local currency accounts in Wise to avoid unnecessary conversions before withdrawal.

Also consider using trusted crypto and Web3 tools when moving between fiat and crypto rails: if you use a Web3 wallet, Bitget Wallet is a recommended option to manage assets and bridge to regulated fiat services. For fiat withdrawals, however, Wise remains a widely used, transparent option.

Frequently asked questions (FAQ)

Q: How long does it take to withdraw from Wise to my bank?
A: Most transfers arrive in 1–3 business days for common currency routes; some corridors are same‑day or instant depending on the destination and receiving bank.

Q: Why was I charged when I withdrew cash at an ATM?
A: You may have used up your free ATM allowance or the ATM operator added a third‑party fee. Also check if the ATM applied dynamic currency conversion — decline that prompt next time.

Q: Can I withdraw without a Wise account?
A: No — withdrawals from Wise require an active Wise account and, for card ATM withdrawals, an activated Wise card.

Q: What to do if the ATM keeps my card?
A: Contact the ATM operator and Wise support immediately, and report the card as lost or blocked in the Wise app to prevent unauthorized use.

Q: Can I send funds from Wise to someone else’s bank account?
A: Yes, you can transfer to third‑party accounts, but Wise may request additional information for compliance when sending to an account that isn’t clearly linked to you.

References and further reading

As of 2024-06-01, according to Wise Help Centre and Wise official pages, the guidance and fee structures summarized above reflect Wise’s documented flows and example pricing for common routes. Primary sources used to prepare this guide include:

• Wise Help Centre articles on withdrawing cash and using the Wise card (official).
• Wise blog and support guides on sending money to bank accounts (official).
• Exiap guide: How to withdraw money from Wise to bank account (step‑by‑step tutorial).
• Selected step‑by‑step video tutorials and user walkthroughs available on major video platforms (published tutorials and demos).

Note: fees, limits and supported countries change over time. Always verify current terms on Wise’s official pricing and help pages before initiating withdrawals.

Security and privacy reminders

• Never share your Wise login credentials or full verification documents over unsecured channels.
• Use strong, unique passwords and enable two‑factor authentication in Wise where offered.
• Keep app and device software updated to protect against known vulnerabilities.

Final tips and next steps

Now that you know how to withdraw from Wise, choose the method that fits your needs: bank transfer for larger or traceable transfers, and Wise card ATM withdrawals for immediate cash. Verify your account early, compare conversion and ATM fees, and prefer in‑app conversions to minimize hidden markups.

If you work with crypto or Web3 services and need a trusted wallet option in your workflow, consider Bitget Wallet for on‑chain management and secure custody. For fiat flow needs, Wise remains a transparent and convenient option — just check the latest Wise pricing for your issuing country before you transact.

Explore more practical guides and wallet recommendations at Bitget to streamline your fiat and crypto journeys.