Updated September 29, 2026 · VaultCue Editorial Team
Varo Visa® Debit Card vs Wise
Varo Visa® Debit Card
Higher score in this comparison
Wise
Where Varo Visa® Debit Card and Wise differ
| Compare | Varo Visa® Debit CardReviewSee alternativesSee alternatives | WiseReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | $0 | £0 |
| Licence type | Bank | Payment institution |
| Deposit protection | FDIC up to USD 250,000 | EU DGS up to EUR 100,000 |
| Currency conversion fee | 0%Lower | 0.24% |
| Local account details | Us ACH | IBAN, UK sort code, Us ACHCovers more |
| Free ATM withdrawals | $0 | £250 |
| Transfer fee | Free | From 0.24%, varies by currency |
| Currencies | Not confirmed | 40 |
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Key differences
- Varo Visa® Debit Card scores higher overall: 9.2 vs 8.8.
- Founded is lower at Wise: 2011 vs 2015.
- Wise is licensed in 2 more countries.
- Wise is available in 34 more countries.
- Currency conversion fee is lower at Varo Visa® Debit Card: 0% vs 0.24%.
- Local account details: only Wise offers IBAN, UK sort code.
- Support channels: only Varo Visa® Debit Card offers Email, Chat, Phone.
- Features: only Varo Visa® Debit Card offers Digital only, No credit check.
Our verdict on each
Varo Visa® Debit Card
Varo Visa Debit Card suits US customers who want one card for everyday spending with nothing to pay each month and no charge for spending abroad. Money sits with a bank rather than an e-money wallet, and deposits are covered at FDIC up to USD 250,000.
Wise
Wise runs as a cash management account rather than a savings product, so it suits expats and travellers who need many currencies and no monthly charge, not people chasing the top rate. It scores 5.2 here, with a variable rate of 3.29% and a monthly fee of £0.
Score breakdown
| Area | Varo Visa® Debit Card | Wise |
|---|---|---|
| Cost | 9.4HigherMonthly fee $0 and conversion at 0% sit at the floor of the site's fee ranges. | 9.1A monthly fee of £0, a conversion fee of 0.24% and an exchange rate markup of 0% keep running costs low. |
| Offer | 9.1HigherSupport on email, chat and phone is solid, but the feature list under free atm, digital only and no credit check is short. | 8.640 currencies, local details for iban, uk sort code and us ach and a variable rate of 3.29% on the balance. |
| Trust | 9.0Higher | 8.8 |
Which one suits you
Pick Varo Visa® Debit Card if cost, offer, and currency conversion fee matter most.
Pick Wise if local account details matter most.
Availability and regulation
| Country | Varo Visa® Debit Card | Wise |
|---|---|---|
| Belgium | Not confirmed | BE_NBB PSD_PI BE_NBB!0713629988 |
| Estonia | Not confirmed | |
| United Kingdom | Not confirmed | |
| United States | FDIC FDIC cert 59190 | Not confirmed |
Additional countries for Varo Visa® Debit Card: 1. Additional countries for Wise: 35.
Feature by feature
| Local account details | Varo Visa® Debit Card | Wise |
|---|---|---|
| IBAN | No | Yes |
| UK sort code | No | Yes |
| Us ACH | Yes | Yes |
Positions in our rankings
| Ranking | Varo Visa® Debit Card | Wise |
|---|---|---|
| Current and checking accounts | 70 of 885 | 139 of 885 |
Every fact side by side
| Fact | Varo Visa® Debit Card | Wise |
|---|---|---|
| Audience | Not confirmed | Expats, Travelers |
| Pricing model | No monthly fee | No monthly fee |
| Features | Free ATM, Digital only, No credit checkCovers more | Free ATM |
| Legal entity | Varo Bank, National Association | Wise Europe SA |
| Headquarters | United States | Belgium |
| Founded | 2015 | 2011Lower |
| Support channels | Email, Chat, Phone, Help centreCovers more | Help centre |
Money transfer
| Fact | Varo Visa® Debit Card | Wise |
|---|---|---|
| Exchange rate markup | Not confirmed | 0% |
| Payout methods | Not confirmed | Bank, Card |
Where each stands against the rest
| Fact | Varo Visa® Debit Card | Wise | Median |
|---|---|---|---|
| Currency conversion fee | 0%below the median | 0.24%below the median | 0.5% |
| Currencies | Not confirmed | 40highest quarter | 5 |
Median across 536 listed accounts.
Pros and cons
Varo Visa® Debit Card
Pros
- The monthly fee is $0, so nothing is charged simply for holding the account open.
- Currency conversion is charged at 0%, so card spending abroad carries no extra charge from the bank.
- The fee on a transfer is listed as free, so paying money in and taking it out costs nothing extra.
Cons
- The account is digital only, one of the features listed under free atm, digital only and no credit check, so there is no branch counter for anyone who prefers to bank in person.
- Payments run on US ACH, us ach, so it is built for a US market rather than for readers who need IBAN or UK sort code details.
- It is a US institution, US, so it suits readers whose money and bills already sit in US dollars rather than euros.
Wise
Pros
- No recurring charge: the monthly fee is £0, matching the €0 site median while some accounts charge as much as €449.
- Conversion is cheap: a fee of 0.24% and an exchange rate markup of 0%, against a 0.5% site median conversion fee.
- Instant access on a floating return: money and gains come out without delay, and the variable rate stands at 3.29%.
Cons
- Support is self-service: help centre is the only channel listed, so there is no phone line or live chat listed for a stuck transfer.
- The rate is variable, so the 3.29% headline can fall, and the brand ranks 220 of 473 on headline rate.
- Moving money is not free: transfer fees are From 0.24%, varies by currency and converting adds 0.24% each time a currency changes.
Who each suits
Varo Visa® Debit Card
Who it suits
- US customers who want one Visa debit card for everyday spending with nothing to pay each month.
- Travellers and anyone paid in another currency, since conversion is charged at 0%.
- Customers happy to run the account from an app, which is how this account is set up.
Who should look elsewhere
- Anyone who wants euro payments rather than US ACH: AXI Card Tarjeta y Credito, with a monthly fee of €0, sits closer to that.
- Readers who want a wallet rather than a bank account: Skrill matches that shape of service better.
- Anyone whose banking is not US based: XTB is worth a look, since these rails are US ACH, us ach.
Wise
Who it suits
- Expatriates and travellers who hold money in more than one currency: the account is built for expats and travelers and covers 40 currencies.
- Anyone who wants a place to park cash without a recurring charge, since the monthly fee is £0.
- People who need money to arrive in local formats, since local account details are offered for iban, uk sort code and us ach.
Who should look elsewhere
- Plazo ES or AXI Card Tarjeta y Credito, whose headline rates of 24.19% and 21.59% are the ones to look at when the rate on the balance matters more than currency cover.
- PayPal Colombia, whose headline rate of 3.3% is close to 3.29%, so a saver gives up little on yield and gains nothing on the 40 currency range.
Country by country
| Country | Varo Visa® Debit Card | Wise |
|---|---|---|
| Australia | No | Yes |
| Austria | No | Yes |
| Belgium | No | Yes |
| Brazil | No | Yes |
| Bulgaria | No | Yes |
| Croatia | No | Yes |
| Cyprus | No | Yes |
| Czechia | No | Yes |
8 of 36 countries where either is available.
Questions about each
Varo Visa® Debit Card
Is there a monthly fee on the Varo Visa Debit Card?+
No. The monthly fee is $0, so holding the account open costs nothing each month. It is a US bank account with a Visa debit card attached, and no monthly fee is the most common pricing model in the everyday accounts group, so the price of simply keeping it is the least of the things to check.
What does it cost to spend in another currency?+
Currency conversion is charged at 0%, so the card adds no margin of its own on a purchase made abroad. That is the main reason to look at this account for travel money. It sits at 1 of 312 brands on this measure, against a median of 0.5% in our data.
Wise
What rate does Wise pay on money held in the account?+
The headline rate is 3.29% and it is a variable rate, so the figure can move rather than being set for a term. Interest is credited to the balance and the money plus the gains stay available, which suits someone who wants a return without tying funds away.
Is there a monthly fee for keeping money with Wise?+
The monthly fee is £0, and the account is built on a no monthly fee model, so there is no recurring charge to maintain it. The site median monthly fee is €0 while some accounts charge as much as €449, so this sits at the cheap end of the range.
Other options to compare
Other matchups
Related by the facts
Varo Visa® Debit Card
Wise