SCOTIA BANK-Canada & Mexico

Wise isn’t like that.

I opened my Wise account and a C$ account with Wise.

I deposited C$. It stays as C$.

I opened a US-based US$ account with Wise. I receive payments in US$. It stays as US$.

I can also have M$ with Wise.

Right now I have all three currencies with Wise.

When I want to convert money between currencies to keep on account, I tell Wise when to convert. (I can set an exchange rate to do automatic conversion as well if I want.)

Wise does not use the higher buy/sell conversion rates. It uses the midpoint rate which is better than the bank conversion rates.

If I use my Wise ATM card in Mexico Wise chooses the best method.

If I have C$, US$, and M$ with Wise and withdraw at an ATM in Mexico, Wise would first draw from my pesos. If I have zero pesos, it will convert C$ or US$, whichever gives me the least expensive transaction.