The Best Way to Pay Abroad: Get Wise to Travel

Travelling today looks a lot different than it did even a decade ago. While we used to rely heavily on exchanging cash at airports or withdrawing local currency from ATMs, digital payments have taken over. Does anyone else remember traveller’s cheques? Credit cards, mobile wallets, and prepaid travel cards make transactions easier in a digital world—but which option is the best for managing your day-to-day expenses while travelling.

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As we prepare for our son’s first solo trip without us, I am one part anxious mom and two parts envious traveller. With Jack heading to Europe on a school trip later this spring, we needed to come up with an easy solution for him to pay for his food, incidentals and souvenirs (I have already put in my request for my favourite chocolate –Tony’s Chocolonely). After researching various options, we chose Wise for Jack’s upcoming trip to Europe. Here’s why Wise is an excellent choice for international travellers and how it compares to other options in today’s digital payment world.

Cash vs. Digital Payments: Striking the Right Balance

When traveling internationally, balancing safety and convenience is key. While digital payments are becoming the norm, cash can still be useful in certain situations.

Pros and Cons of Cash vs. Digital Payments

Cash: While widely accepted, cash comes with some risks—it can be lost or stolen, and withdrawing it can lead to high fees or poor exchange rates. However, it’s still handy for small purchases, tips, and places that don’t accept cards.

Digital Payments (Cards & Mobile Wallets): Cards are secure, easy to track, and convenient for most transactions. However, foreign transaction fees, exchange rate markups, and potential card issues (such as fraud alerts or non-compatibility) can be drawbacks.

Our Recommendation: We prefer a mix of both—keeping a small amount of cash for emergencies and places that require it, while relying primarily on Wise -essentially an international multi-currency bank account – for secure payments. This approach offers flexibility, security, and cost savings while minimizing the risks associated with carrying large sums of cash.

Why We Chose Wise for Travel Expenses

1. Transparent Fees—No Surprise Charges

One of the biggest downsides of using traditional bank cards abroad is the hidden fees. Many credit and debit cards charge foreign transaction fees (typically 2-3% per purchase) or ATM withdrawal fees. With Wise, you pay your exchange fees upfront when transferring money into different currencies. This means no surprise charges when making payments abroad. Saving even just a couple of dollars per transaction adds up fast when you are travelling.

2. Excellent Exchange Rates

Unlike banks, which often apply high markups to exchange rates, Wise offers mid-market exchange rates, meaning you get more for your money. This makes a big difference when budgeting for a long trip—every little bit saved on exchange rates adds up.

3. Easy to Use with Digital and Physical Payments

Wise provides both a physical visa debit card and a digital card for mobile payments, making it perfect for a traveller like Jack who will be navigating a mix of in-person and online transactions. Whether he’s tapping to pay at a café, buying groceries, or a souvenir, Wise makes it seamless and best of all it is all set up and paid for before he travels.

4. Multi-Currency Wallet—Spend Like a Local

One of Wise’s best features is its ability to hold and spend in multiple currencies. We can convert money ahead of time when the exchange rate is favourable, which means no guessing how much each transaction will cost in Canadian dollars.

5. Safer Than Carrying Cash

Losing cash while travelling can be disastrous. While Wise offers ATM withdrawals if needed, there is no need to carry large amounts of cash because you can use the Wise card almost everywhere (like a debit card or online on his phone through the app). If his card gets lost or stolen, we can freeze it in the Wise app and order a replacement.

6. Budget-Friendly and Parent-Friendly

As parents, we wanted an easy way to track Jack’s spending and make sure he has access to funds without carrying excess cash. With Wise, we can transfer money instantly if needed, and he can check his balance and transactions in real time. No need to worry about unexpected fees or banking delays.

How to Set Up a Wise Account for Travel

For all the details on setting up a Wise account, I’m handing the mic to Robin who handled the logistics. Setting up a Wise account is simple and can be done well before your trip to ensure everything runs smoothly. Here’s how:

1. Sign Up – Create an account on the Wise website or app.
2. Verify Your Identity – Wise requires ID verification for security.
3. Order Your Wise Debit Card – It typically arrives within a couple of weeks.
4. Add Money to Your Account – Transfer funds from your bank and convert them into the currency you need.
5. Download the App – Manage your transactions, freeze your card if needed, and track your spending in real-time.

Here’s an example of how it works, you add your own currency to the card and use it once at home to make sure it is set up. Then you add your local currency to your account and convert it into your currency of choice (Canadian to Euros below). Then the money sits in your Euros account until your trip and is ready to use as local currency at no additional fee. As needed, you can move your money into another currency, add additional funds or leave it until your next adventure and you can have as many different currencies as you choose.

Final Thoughts: Is Wise Worth It for Travellers?

For Jack’s solo European adventure, Wise was the best choice for managing travel expenses. It’s safer than cash, more affordable than using a traditional credit card, and incredibly easy to use. The ability to pay in multiple currencies, track expenses in real time, and avoid hidden fees make Wise a standout option for international travellers of any age. We’ll keep you posted on how it goes.

If you’re planning a trip abroad and want a stress-free way to handle your spending, Wise is definitely worth considering. Whether you’re a backpacker, digital nomad, or family traveller, it’s a simple, smart, and secure way to manage your money in an increasingly cashless world. For more travel favourites check out these posts.

Have you used Wise for travel? Let us know your experience in the comments below!