Has anyone actually used the e& money card abroad recently and checked the settled AED amount?
I'd also be interested to know whether the stated 1% is simply added to the underlying card-network conversion rate or whether the final rate is constructed differently.
Wio route 1: pre-funded currency
AED → buy EUR/GBP/etc from Wio at Wio's exchange rate → hold currency → spend that exact currency → 0% card transaction fee + 1% cashback
Wio route 2: no matching currency balance
AED → foreign-currency card transaction → 2% FX transaction fee → 1% cashback → approximately 1% explicit net fee, before considering the underlying conversion rate.
But their FX conversion rates (excluding USD) are typically around 2.5%+ when you check against the google rate.
Can someone explain? Seems like they charge you up front and then give you back part of their fee one month later in cashback.
Why isn't there any need to disclose FX rates markups?
Hey, does anyone know what the best/cheapest FX card is for the UAE? Ideally looking for debit card, decent benefits like lounge access and e-sim.