Debit Card without a Maltese bank!

Already got one ...  are you on commission? 

RayAucote wrote:

Already got one ...  are you on commission? 

I wish!
The main draw is that I can access urgent cash here in Gozo almost instantly at the same exchange rate as a normal transfer as opposed to using my UK bank debit card and getting a rubbish exchange rate plus charges.

Ray

I also use Revolut which is also a prepaid Mastercard. The main difference is that Revolut don't charge for the transfer and have almost identical exchange rates to Transferwise. Cash withdrawal at machines free up to €200 pcm and its instant load from UK bank.
I can load my Revolut from UK and withdraw at machine in about 3 minutes. Their only drawback is they tend not to update the exchange rate much at the weekends and generally fall a little behind Transferwise until Mondays.
I think they offer a Euro account as well.

I've not actually put the Transferwise card to use yet.

Ray

For those interested here is the LINK. It does look quite good, with good rates.

RayAucote wrote:

I also use Revolut which is also a prepaid Mastercard. The main difference is that Revolut don't charge for the transfer and have almost identical exchange rates to Transferwise. Cash withdrawal at machines free up to €200 pcm and its instant load from UK bank.
I can load my Revolut from UK and withdraw at machine in about 3 minutes. Their only drawback is they tend not to update the exchange rate much at the weekends and generally fall a little behind Transferwise until Mondays.
I think they offer a Euro account as well.

I've not actually put the Transferwise card to use yet.

Ray

You would need to set up your borderless account first and choose which currencies, of which there are many.
You then have your own bank account in each of those currencies with individual Swift codes, IBAN's etc and can be used much like normal banks to send and receive money, make payments etc.
It also means those transactions do not show on Maltese bank accounts!

Ray

F0xgl0ve wrote:

It also means those transactions do not show on Maltese bank accounts!

Ray

but if there is ever a audit, they have the right to request those records.  So don't think its a way to avoid taxes on those withdrawals

volcane wrote:

F0xgl0ve wrote:

It also means those transactions do not show on Maltese bank accounts!

Ray

but if there is ever a audit, they have the right to request those records.  So don't think its a way to avoid taxes on those withdrawals

Wouldn't dream of it!

Ray

RayAucote wrote:

I also use Revolut which is also a prepaid Mastercard. The main difference is that Revolut don't charge for the transfer and have almost identical exchange rates to Transferwise. Cash withdrawal at machines free up to €200 pcm and its instant load from UK bank.
I can load my Revolut from UK and withdraw at machine in about 3 minutes. Their only drawback is they tend not to update the exchange rate much at the weekends and generally fall a little behind Transferwise until Mondays.
I think they offer a Euro account as well.

I've not actually put the Transferwise card to use yet.

Ray

I use Revolut too. Cracking service and very similar . I've provided source of wealth documents to them, and my wife got a card, so I can put funds on the card and sent it straight to her and it's just a nice all around way of managing money. I can also transfer funds to my Australian bank account and change currencies at an excellent rate, fee free. Can also have a UK account or EU account to get paid into. I know a few Europeans that are now using it to get salary paid into from Maltese employers with zero problems.

F0xgl0ve wrote:

RayAucote wrote:

I also use Revolut which is also a prepaid Mastercard. The main difference is that Revolut don't charge for the transfer and have almost identical exchange rates to Transferwise. Cash withdrawal at machines free up to €200 pcm and its instant load from UK bank.
I can load my Revolut from UK and withdraw at machine in about 3 minutes. Their only drawback is they tend not to update the exchange rate much at the weekends and generally fall a little behind Transferwise until Mondays.
I think they offer a Euro account as well.

I've not actually put the Transferwise card to use yet.

Ray

You would need to set up your borderless account first and choose which currencies, of which there are many.
You then have your own bank account in each of those currencies with individual Swift codes, IBAN's etc and can be used much like normal banks to send and receive money, make payments etc.
It also means those transactions do not show on Maltese bank accounts!

Ray

I already have all the accounts for both Revolut and Transferwise.
As for the taxation issued mentioned in other posts, I have to earn enough to pay tax, I wish..

RayAucote wrote:

F0xgl0ve wrote:

RayAucote wrote:

I also use Revolut which is also a prepaid Mastercard. The main difference is that Revolut don't charge for the transfer and have almost identical exchange rates to Transferwise. Cash withdrawal at machines free up to €200 pcm and its instant load from UK bank.
I can load my Revolut from UK and withdraw at machine in about 3 minutes. Their only drawback is they tend not to update the exchange rate much at the weekends and generally fall a little behind Transferwise until Mondays.
I think they offer a Euro account as well.

I've not actually put the Transferwise card to use yet.

Ray

You would need to set up your borderless account first and choose which currencies, of which there are many.
You then have your own bank account in each of those currencies with individual Swift codes, IBAN's etc and can be used much like normal banks to send and receive money, make payments etc.
It also means those transactions do not show on Maltese bank accounts!

Ray

I already have all the accounts for both Revolut and Transferwise.
As for the taxation issued mentioned in other posts, I have to earn enough to pay tax, I wish..

Not so much how much you earn as how much is remitted over here. If we still lived in the UK we would not be liable for tax as our total income is less than the allowances of some £11,000 each but here you are talking allowances of around €9000 or about £7,800 each!

Ray

As I said, I wish