Wise vs Virgin Money: spending abroad compared
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Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. Some links are referral links — we may earn a commission. You can check a firm’s details on the FCA Register.
Quick answer
Virgin Money M Plus charges no fees of its own when you use the card abroad, and your money is FSCS protected (shared with Nationwide). Wise converts at the mid-market rate plus a fee from 0.24% and lets you hold and send many currencies, but it isn’t a bank.
For simple holiday spending, a no-fee bank card may be enough; for holding or sending currencies, Wise does more.
Wise vs Virgin Money compared
| Feature | Wise | Virgin Money M Plus |
|---|---|---|
| Account fee | Free (card £7) | £0 |
| Card spend abroad | Mid-market rate + fee from 0.24% (if converting) | No Virgin Money fees |
| Cash abroad | £250 a month free, then 2.69% | No Virgin Money fees (ATM operators may charge) |
| Hold currencies | Yes, many | No |
| Send money abroad | Yes | Via bank transfer |
| Protection | Safeguarded | FSCS (shared with Nationwide) |
Figures as of 4 October 2026, taken from the provider’s own website. Rates and fees can change.
Who each suits
- Wise: people who hold, send or receive foreign currency
- Virgin Money: holidaymakers who want one free UK account
Who should skip it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- You withdraw a lot of cash abroad with Wise — 2.69% over £250 a month
Full explanation
Try a real amount in our currency conversion calculator.
The catch
With any card, choose to pay in the local currency — letting the merchant convert can cost more.
Check each provider’s current fees.
These go straight to each provider’s own website. They aren’t referral links and we don’t earn from them.
Some links in this table are referral links. We may earn a commission if you use them, at no extra cost to you. Rankings are based on our review methodology, not commission.
FAQs
Is Wise or Virgin Money cheaper abroad?
For card spending, Virgin Money charges no fees of its own; Wise charges a small conversion fee but uses the mid-market rate.
Is the Wise link a referral link?
Yes — it’s a referral link and we may earn a commission. It doesn’t affect what you pay.
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