Wise Euro Account Review - 2024

Claire Millard
Ileana Ionescu
Last updated
January 25, 2024

If you’re travelling to any of the 20 countries that use the euro - or if you shop online with retailers based in the euro area - having an account which lets you hold, exchange and spend EUR can help cut currency conversion costs.

Wise offers an intuitive online and in-app euro account you can use to hold, send, receive and manage euros alongside Canadian dollars and 40+ other currencies for convenience.

This comprehensive review walks through key features of the Wise euro account, including exchange rates, fees, account security, and what else you can do with a Wise multi-currency account.

Wise travel card

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Wise euro account key points

  • Fully digital account opening, onboarding and management

  • Add money in Canadian dollars, euros, or any of the +20 supported top up currencies

  • 40+ currencies supported for holding and exchange

  • Currency conversion with the mid-market exchange rate and low fees from 0.43%

  • International debit card for easy spending in 150+ countries

  • Receive payments to your account in euros, Canadian dollars and up to 8 other currencies, with your own local bank details

  • No foreign transaction fees when spending overseas

Pros and cons of Wise euro account

  • Accounts have no ongoing or monthly fees

  • Euros, Canadian dollars and 40+ total currencies supported for holding

  • Mid market rate on currency exchange

  • Spend in 150+ countries with your Wise card

  • Get paid in euros and 9 other currencies with local bank details

  • Send transfers to 160+ countries, with low fees from 0.43%

  • Fees apply to ATM withdrawals once you exhaust your plan limits

  • Variable fees to convert currencies

What is a Wise euro account?

With a Wise euro account you can hold, send, spend, receive and exchange euros alongside 40+ other currencies.

You can add money to your account in dollars, euros or another of the Wise supported currencies, to spend conveniently in EUR with your Wise card, or to send money overseas. That can be handy if you’re travelling, if you shop online and pay in euros, or if you have invoices or bills to pay abroad.

Wise euro accounts also have the bonus that you can activate bank details to receive EUR, so people from the euro area can pay you in EUR as easily as they would someone living locally in the Eurozone. Sending a local payment is usually cheap or free for the sender, and it’s free for you to receive a EUR transfer to your Wise account, too.

Read also: Wise multi-currency account review

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Can I open a Wise euro account in Canada?

Yes. You can open a Wise euro account in Canada, as a personal or business customer.

Learn more about Wise multi-currency accounts here

How can I activate a euro account in Wise?

To activate a euro account with Wise you’ll need to open a Wise account and then add a EUR currency balance. The process is pretty straightforward and can be done from your phone or laptop.

Here’s how to open a Wise account and activate a Wise euro currency balance:

  1. Download the Wise app, or open the Wise desktop site

  2. Register with your email address, or an Apple, Google or FaceBook account

  3. Follow the prompts to enter your personal details

  4. Upload your ID documents for verification

  5. Once your account is verified, tap Open in the app homepage

  6. Select Currency Balance and tap EUR to open your euro account

  7. Top up your balance, complete any required security step, and you’re done!

When is a Wise euro account needed?

A Wise euro account can be handy for both personal and business use. Having a euro account means you can hold a euro balance which is great if you’re planning travel, or if you have bills to pay in EUR. It can also make budgeting for your holidays easier, as you’ll be able to add money in Canadian dollars and switch to euros in advance, so you know exactly what you have to spend.

Wise euro accounts also offer linked international debit cards which you can use to spend globally. If you have euros in your account already and you’re spending in the euro area, there’s no fee - if you don’t have EUR the card can convert from your account balance automatically, with the lowest available fees instead. Having a Wise debit card for travel is convenient and safe for personal account holders - and business customers can also order and issue expense cards to their team to manage international business spending in euros.

When you open your Wise euro account you’ll be able to get euro bank details to receive payments to your account. If a friend needs to send you money you can simply give them these details to be paid in EUR. Or, if you’re a business owner or freelancer, you can use your EUR details to be paid by customers and clients. Once you have a euro balance, withdraw it back to your CAD account with mid-market exchange rates, or hold it as EUR and use it to spend with your linked card, or to send on to others, to cover invoices or pay employees for example.

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Read a full Wise review here.

How does the Wise euro account compare?

If you’re not sure whether the Wise euro account is right for you, it’s worth comparing a few alternatives. While there aren’t a huge number of EUR accounts on the Canadian market, some banks do have this service - here’s an overview of Wise vs a couple of top picks: the HSBC EUR account for personal customers, and the RBC business euro account.

Wise euro accountHSBC euro high rate saving accountRBC euro business account
Availability in CanadaAvailable to personal and business customersAvailable to personal customersAvailable to business customers 
Conversion feesFrom 0.43%HSBC rates applyPreferential rates available when converting high value amounts
Exchange rate feesNo fees; mid-market exchange rateExchange rate markups may applyExchange rate markups may apply
Other fees

10 CAD fee to receive a CAD SWIFT transfer

4.14 USD fee to receive a USD wire

0.75 EUR transaction fee

25 CAD/month maintenance fee

Transaction fees apply

Linked Debit CardYNN
Best Features

Supports 40+ currencies

Local receiving account details for 10 currencies

No minimum balance requirement - convert in the account to EUR as and when you want

Send payments in EUR, including repeat transfers

No minimum balance

Different euro account options have their own features and fees which might make them suited to specific customer needs. The Wise euro account offers impressive flexibility, with euros alongside 40+ other currencies, plus mid-market rate currency conversion. The euro accounts on offer from Canadian banks tend to be more aimed at customers who need to complete electronic transactions and transfers, rather than spending with a card in person or online. Comparing a few different accounts is the best way to find the one which suits your personal needs.

Wise euro account fees

There are a few fees you’ll want to know about before you start using the Wise euro account - here’s a rundown of the key costs to consider:

Wise EUR account
Create accountNo fee for personal customers, business customers pay a one time charge of 42 CAD for full account features
Account monthly feeNo fee
Fee to receive payments in EURNo fee 
Fee to spend a currency you holdNo fee
Exchange rateMid market rate, low conversion fees from 0.43%
Send paymentsTransparent fees from 0.43%
Fee to receive cardNo fee
ATM fees2 withdrawals to the value of 350 CAD/month free, then 1.75% + 1.5 CAD per withdrawal
Virtual cardsNo fee

Information correct at time of writing, 4th January 2024

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Wise euro exchange rate

Wise uses the mid-market exchange rate to convert to and from euros, with low fees you’ll see in the app or online when you convert funds. The mid-market rate is the one you’ll find on Google or with a currency conversion tool, and Wise splits out all fees transparently which makes it easier to see the full costs you pay when you convert or send payments in foreign currencies.

How does the Wise euro account work?

Here’s a summary of how you can create and use the Wise euro account:

  • Account Creation: Sign up for a Wise euro account online or by downloading the Wise app. You’ll just need to register, provide some basic personal information and upload images of your ID and proof of address for verification and security

  • Fund Transfers: Once the account is set up, you can transfer funds into your Wise euro account from your bank account or with a card. You may also be able to use a mobile wallet like Apple Pay

  • Sending and Receiving Payments: The Wise euro account allows users to send and receive euro payments domestically and internationally, using the mid market exchange rate for conversion, plus a low fee. Get your local bank details from the Wise app, and give them to anyone sending you money - and send payments conveniently on the move with the Wise app

How to use the euro account abroad

You’ll be able to access your Wise euro account when you’re overseas, by logging in online or using the Wise app. Get a Wise card and you can also easily spend and withdraw when you’re away from home, with instant transaction notifications on the Wise app for security.

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What is the eligibility for a Wise euro account?

To open a Wise euro account you’ll need to be able to provide proof of ID and address for verification purposes. You’ll also have to be aged over 18.

This guide walks through setting up the Wise euro account for Canadian customers - but the Wise euro account is also available to people in a broad range of other countries worldwide, subject to account verification processes. Head over to the Wise website to get the details if you’re in a different country.

Who is it good for?

The Wise euro account has broad international functions, making it handy for a range of people:

  • Frequent travellers and anyone shopping online and paying in euros or 40+ other currencies

  • Anyone sending payments overseas digitally, for personal or business purposes

  • Customers looking to manage their travel budget by locking in exchange rates in advance

  • Business owners who want to issue international expense cards to their teams

  • Freelancers, entrepreneurs and individuals getting paid in foreign currencies

  • Anyone looking for a flexible account that can be opened and managed with just a phone

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Is a Wise euro account safe to use?

The Wise euro account is safe to use. Wise is a fully regulated and trusted provider, registered in Canada with FINTRAC. As a global company, Wise is also regulated by various financial authorities around the world, ensuring compliance with stringent security measures and data protection standards.


You can open your Wise euro account from Canada, or from a broad range of other countries using a local proof of address and ID. The Wise international debit card is issued on either the Visa or Mastercard network, and can be used in 150+ countries, wherever you see your card’s network logo.

Other available currencies

Wise supports over 40 other currencies as well as euros and Canadian dollars, allowing users to hold and transact in multiple currencies, including major global currencies such as British pounds, US, Australian and New Zealand dollars, and other European currencies such as NOK, SEK, RON and HUF.

Wise euro account limits

There’s no limit to the amount of money you can hold in your Wise euro account, and most Wise international transfers are uncapped, or have maximum limits set at around 1 million GBP or the equivalent. However, for security, Wise does have various card limits which can be viewed and adjusted in the app.

Wise euro account alternatives

As we saw earlier, Wise isn’t the only option for a powerful euro account in Canada. You could also consider a euro account from a Canadian bank, such as the HSBC high earning EUR account or a euro business account from RBC. Which suits you will depend on your personal preferences and how you expect to transact.

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The Wise euro account offers a range of features and benefits for customers looking to manage their money efficiently across Canadian dollars, euros and a selection of other currencies. You can use the Wise euro account as a personal or business customer, to hold, send, spend, receive and exchange euros alongside 40+ other currencies, with the mid-market rate and low fees from 0.43% for conversion.

FAQ - Wise euro account

How do I open a euro account with Wise?

Open a Wise account online or in the Wise app by entering your personal information and uploading an image of your ID and proof of address. You can then simply tap to open a euro currency balance, to top up, convert, send and receive euros conveniently.

What is the account limit for Wise in euro?

There’s no limit to the amount you can hold in your Wise euro account, but there are some limits applied to card spending. These limits are used for security reasons, and can be adjusted in the Wise app conveniently.

How do I add euros to Wise?

Open a Wise euro account, and simply log in and tap Add to top up in euros or another supported currency. You can also get local EUR account details, and give them to anyone who needs to send you a payment in euros.