Yes, this app is not ideal:
It’s also visible in E-Banking somewhere under cards of the account.
But the amount is not deducted from the balance in e-banking until settled.
You can use Neon if you prefer 
.
On a more serious note, as mentioned, I think it’s an interesting offering from a functional perspective. However, the application side has a lot of room for improvement. The user experience is not ideal, but they are still in their early stages. That said, I’m impressed by the level they’ve already achieved so quickly, especially compared to Migros Bank, which took 10 years to update its e-banking system.
It also seems to be one of the only banks that doesn’t collect data through its e-banking app, according to the information available on the Apple Store.
Just sent them following message, I’m wondering what they will say:
With the Mastercard debit card, you advertise the “currency exchange at the most advantageous interbank rate”. I have recently made a few payments and noticed that I am sometimes being charged more than this interbank rate.
As an example (this also applies to other transactions) I would like to mention the transaction of XXXX, where I paid GEL 70. During the whole day the exchange rate (interbank rate) never exceeded the value of 0.3244, and the days before and after the rate was never higher than 0.3247.
Wir Bank has now charged me CHF 23.08 for this GEL 70, which corresponds to an exchange rate of 0.3297 (unfortunately, the exchange rate is not shown anywhere, either in the credit card app or in the We app, not very customer-friendly). This corresponds to a surcharge of 1.7 percent on the highest exchange rate registered on that day or 1.6 percent on the highest values registered in the days before and after! This means that under no circumstances is the interbank rate applied here!
I therefore assume that there is a problem here and ask for clarification as soon as possible.
Well, I’ve now checked other currencies and it seems that Wir Bank does not use the interbank rate but the Mastercard rate, which can be checked here: Währungsrechner | Fremdwährungsrechner | Mastercard. This rate is definitely less favorable than an interbank rate (my understanding of an interbank rate is that, for example, I could change 1 CHF to EUR and then back to CHF and have 1 CHF after these two transfers).
In addition, it seems that Mastercard always applies the most unfavorable exchange rate observed during a 24-hour period (just an impression).
So, these Mastercard rates can be significantly worse than the interbank rate, depending on the currency. Can anyone confirm this? Am I the only one who feels a bit cheated?
Mastercard/visa rates are typically 0.3 to 0.5% away from the interbank (they have one rate per day instead of dynamic so they need to manage the risk)
To be fair it’s still pretty good, esp on weekend when there’s no interbank rate and things like revolut will often hedge with higher spread than visa/mc.
That’s not my point. I complain that Wir bank doesn’t use the better interbank rate.
But anyway, I don’t see any risk at all for Mastercard since according to my observation they always apply the most unfavourable rate for the customer within a 24 hour period. So it’s the opposite, they have no risk and they always win!
I also have never seen a document fixing the exact time that they use to apply the exchange rate.
For MC:
Present day’s rate is available at 3:05 PM ET
so I don’t think the risk is 0.
Source?
But anyway, I do not interpret ‘Present day’s rate is available at 3:05 PM ET’ to mean that they use the rate that exists at that time, only that they publish it at that time.
Furthermore, when I compare the rates they charge, I cannot find any pattern at all! If on day x at 3:05 PM ET and day y at 3:05 PM ET the interbank rates were almost the same, the Mastercard rates (Währungsrechner | Fremdwährungsrechner | Mastercard) have huge differences…
I think it’s obvious that the rate used won’t be the interbank, they need some spread if they’re going to use the same rate for a whole day since they likely hedge some things, especially on weekends. (plus I’m sure they get a bit of income)
I also don’t know which timezone they use to define a day.
Sorry, but I guess you do not get my point (I stop arguing now with this message). My main point is:
I’ve now checked other currencies and it seems that Wir Bank does not use the interbank rate but the Mastercard rate
And about Mastercard exchange rate, my point is:
it seems that Mastercard always applies the most unfavorable exchange rate observed during a 24-hour period
.
Yeah looks like we’re talking past each other, I’ll clarify one last time.
It does look like the rate is unfavorable but it’s because they carry some risk, so most days it will indeed be worse, but in case there’s a big move (over a weekend, or during the day), they’ll eat the loss (which will balance out with all the days where they had a win).
So yes it’s worse than the interbank rate, but it is also more stable (you should be able to know what is being used with some guarantee, and no surcharge on weekends).
To quote their documentation:
Mastercard rates are published daily and are effective for a 24-hour period, typically to approximately 14:05 St. Louis time (Central Time Zone) the following day.
Mastercard foreign exchange rates are specific to the date and time the bank authorizes the transaction (which generally occurs at the point of sale/interaction). For certain transactions, including those submitted to Mastercard for processing nine or more days from the original date of authorization, Mastercard will apply the foreign exchange rate in effect at the date and time Mastercard processes the transaction.
(so no, they don’t retroactively pick the worst rate of the day, but they will indeed pick a rate so that they don’t carry too much risk, it’s the same as picking a fixed mortgage vs. saron 
)
WIR is a Stone Age bank.
Just wanted to send some money to Kraken. Bank Liechtenstein but recipient in British Virgin Islands. Can’t choose British Virgin Islands as country of the recipient. But hey… you can at least choose North Korea… Give me a break. Seems like in their 100 years history, no customer ever wanted to send money to BVI or they just don’t give a f.
And now I’m reading that they don’t offer interbank rate but Mastercard rate but they advertise interbank (or at least they make it seem interbank). What is this? Considering filing out this form: https://www.seco.admin.ch/seco/de/home/Werbe_Geschaeftsmethoden/Unlauterer_Wettbewerb/Beschwerde_melden/Beschwerde_unlautere_Geschaeftspraktiken.html
@TRSP Have you heard back from them?
I wonder whether this matters? If you have the IBAN, money should arrive at Kraken regardless of ‘Recipient’, no? Wouldnt test it with a large amount of money though. 
imho. IBAN and the reference code matters. The recipient’s info is only for bank internal checks important if ambigous info. I never entered Virgin Islands (on several accounts)…
Weekends don‘t carry material interest. Meaning that (at least for major currencies) the Bank shall keep the deposit in FX and convert to CHF at the next Bank day. Thats at least what I wouldd expect (and how YUH does it).
Using the master card rate (which includes an uplift for the daily FX rate, and claiming this was ob rates… thats a BIG no-no to me and indeed deserves a report to the authorities.
How do I add the card to ApplePay? Wir bank does appear on the list when trying to add the card… thing is even DKB does not appear but I already have the DKB card in the wallet, so it seems like some iOS update introduced this “feature” that does not allow me to register it? The Wir website says ApplePay is supported…
Adding a card to Apple pay is two steps: (1) adding and (2) verifying. For step (2) I had to call Wir (or Six, not sure anymore).
Seems to me they removed this sentence from the website! Here is a cached version Das Beste vom Banking in einem Paket | Bankpaket top | Bank WIR - Bank WIR
So you select a random bank from the list and then it still works?
