Wise Multi-Currency Debit Card page 2 - Brazil forum

Peter Itamaraca · 2025-02-16T05:40:27+01:00

Explore practical tips on using the Wise Multi-Currency Debit Card in Brazil for seamless travel expenses, currency exchange, and banking strategies.

Wise Multi-Currency Debit Card

abthree Brazil Expert

Member since 28 December 2017

abthreeBrazil Expert19 July 2025 23:02:39

#41

6219

07/18/25 9% sounds too good to be true. I checked my Wise app and the Wise web site and I saw no mention of it. What am I missing? - @ibdegen

That particular rate is on the BRL balance only; each eligible currency has its own rate.聽 The accountholder doesn't have to opt-in to the BRL rate:聽 apparently it's a Banco Central requirement that Wise pay interest.

The BRL rate is variable.聽 According to the transaction record in my account, the variable rate for the month was expressed聽 as an annualized rate of 10.39% in June.聽 There's a 22.5% withholding tax that lowers the effective rate, but the numbers work.聽

Peter Itamaraca Serial expat

Member since 08 May 2023

Peter ItamaracaSerial expat20 July 2025 09:12:29

#42

871

@ibdegen

@abthree and I have Wise debit cards, to which you transfer funds, and then they pay monthly interest on balances - previously only on BRL I thought, but apparently now on all currencies...

I applied for mine in Brazil, and I think @abthree did the same. Not sure if that makes a difference.

I specifically wanted mine to be able to add BRL to it, and then transfer to any other currency on the same card as I often visit other countries. That way I am able to effectively spend BRL easily in other countries, that was difficult for me before.