Pleo review

Pleo charges a monthly fee of £8. That sits above the site median of €0, so the account is not one of the free options on the market. On the Start plan, transfer fees are added on top, per international and per local payment.

Currency conversion fees run 1.49% to 2% for a conversion. The site median is 0.5% and the upper quartile reaches 2.08%, so frequent conversion is where the cost concentrates. Budget for it if your business pays suppliers in another currency.

Deposits are covered by FSCS up to GBP 85,000. Pleo is run by Pleo Financial Services ApS, which holds an e money licence and is regulated in the United Kingdom by the Financial Conduct Authority under 1020730.

A Pleo account holds 6 currencies. That is above the site median of 5 but well below the leaders, so it covers common trade routes without reaching the widest range. Local account details are available for the currencies you hold.

Yes, and cash withdrawals are £0. Free ATM use is a feature on 52.9% across a fair share of the brands compared here, but here it comes with an e money licence rather than a bank licence.

Pleo is aimed at business users rather than personal accounts, and it was founded in 2015. The account suits companies that pay and receive in several currencies and want deposit protection in place.

Support runs through help centre, email and chat. A help centre is the most common channel across the brands compared, followed by phone support, so Pleo's mix leans towards self service and written contact.

The account is provided by Pleo Financial Services ApS, based in Denmark. Alongside the UK regulator, the Financial Conduct Authority, Pleo is listed in Denmark under PSD_EMI DK_DFSA!40506 with the Danish authority PSD_EMI DK_DFSA!40506.