Wise review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
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.
Key facts
- Best for
- Holding and converting money in many currencies with no monthly charge.
- Headline rate
- 3.29%↗
- Rate type
- Variable↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Access terms
- Instant access to money and gains; transfer up to 100,000 GBP (Personal) daily without delay↗
- Monthly fee
- £0↗
- Account kind
- Cash management↗
- Legal entity
- Wise Europe SA↗
- Headquarters
- Belgium↗
- Founded
- 2011↗
- Support channels
- Help-centre↗
- Pricing model
- No monthly fee
- Official website
- wise.com
Everyday accounts
Money transfer
Facts checked September 26, 2026, 9 sources
Apps and profiles
- Get the app
- App Store
Pros and cons
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%.
- Protected balances: deposits sit under EU DGS up to EUR 100,000.
- Wide currency reach: 40 currencies with local details for iban, uk sort code and us ach, above the 18 cash-management upper quartile.
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.
- The return is modest for a savings search: 3.29% sits under the 4.5% savings upper quartile, so a savings product can pay more when the money can stay put.
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.
Access to your money
Money and the gains on it are available as soon as you ask, and transfers on personal accounts go through the same day. Nothing is locked away, so a balance can sit and earn while still paying out on demand. The rate is variable, which is the whole point of this kind of account: access is instant and the return is not locked. Readers weighing easy-access savings against notice accounts or fixed products should read those two traits as one choice, not two. What same-day access gives up is a guaranteed rate, and what it buys is the ability to move money the moment a plan changes.
Deposit protection
Balances are covered by EU DGS up to EUR 100,000, so the scheme stands behind eligible money held in the account. Supervision runs through several registers: the Financial Conduct Authority in the UK under 900507, the Estonian Financial Supervision and Resolution Authority under 4.1-1/174, and the National Bank of Belgium register entry PSD_PI BE_NBB!0713629988. Protection and supervision are separate layers, and readers who care about the money should check both. The scheme decides how much is returned, while the licences decide who is policing the firm.
Rates and card terms
The headline rate is 3.29% and the rate type is variable, so the number is a starting point rather than a promise for a term. Nothing here runs for a fixed period, which is why an easy-access rival can quote a similar figure without a lock-in while a fixed product can quote a much larger one. On this site the headline rate median is 3% with an upper quartile of 4.15%, and Wise sits at 220 of 473 brands on the same measure. Readers chasing yield alone should compare like with like before settling here.
Who regulates it
The licence type is payment institution, so the firm is authorised as a payment institution rather than as a bank. Registration details come from three authorities: the Financial Conduct Authority in the UK under 900507, the Estonian Financial Supervision and Resolution Authority under 4.1-1/174, and the National Bank of Belgium register entry PSD_PI BE_NBB!0713629988. Licence type matters for how a failure would be handled, and listings here are split along those lines: 33.3% sit in the payment-institution group and 27.5% in the bank group. For a saver, that difference is a reason to read the protection terms before comparing rates.
The company behind it
The legal entity behind the service is Wise Europe SA, based in Belgium, and it was founded in 2011. The group shows up in the registers of the Financial Conduct Authority in the UK, the Estonian Financial Supervision and Resolution Authority and the National Bank of Belgium, with references 900507, 4.1-1/174 and PSD_PI BE_NBB!0713629988. Support runs through help centre, so anyone planning to hold larger balances here should be clear that help is self-service rather than a person on a phone. Across the site, 86.1% of accounts use a help centre while 79.5% offer phone support.
How Wise compares
8.8 vs 8.6
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8.8 vs 8.7- 8.8 vs 8.0
8.8 vs 9.0
8.8 vs 8.1
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8.8 vs 8.0
8.8 vs 9.5
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8.8 vs 9.3
8.8 vs 9.2
8.8 vs 9.0
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8.8 vs 8.5
8.8 vs 8.5
8.8 vs 8.5
8.8 vs 8.4
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Wise vs Revolut UK8.8 vs 9.0
Where Wise is available
- Available
- Australia, Austria, Belgium, Brazil, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom
- Licence in Belgium
- National Bank of Belgium, checked September 26, 2026
- Licence in United Kingdom
- Financial Conduct Authority (UK) (900507), checked September 26, 2026
- Licence in Estonia
- Estonian Financial Supervision and Resolution Authority (4.1-1/174), checked September 26, 2026
- Licence in Belgium
- BE_NBB (PSD_PI BE_NBB!0713629988), checked September 26, 2026, also valid in Austria, Belgium, Bulgaria, Cyprus, Czechia, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Croatia, Hungary, Ireland, Iceland, Italy, Liechtenstein, Lithuania, Luxembourg, Latvia, Malta, Netherlands, Norway, Poland, Portugal, Romania, Sweden, Slovenia, Slovakia
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
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.
What does it cost to send or convert money?+
Transfer fees are From 0.24%, varies by currency, and converting currency adds a fee of 0.24% with an exchange rate markup of 0%. The conversion fee compares with a site median of 0.5% and an upper quartile of 2.08%, which is why the account tends to suit people who move money often.
How is money held with Wise protected?+
Balances are covered by EU DGS up to EUR 100,000. The firm is supervised through the Financial Conduct Authority in the UK, the Estonian Financial Supervision and Resolution Authority and the National Bank of Belgium, and the account is authorised as a payment institution, so the protection scheme and the licences answer different questions.
How many currencies can I hold and can I get local account details?+
The account covers 40 currencies and offers local account details for iban, uk sort code and us ach, so incoming payments can use the format the sender expects. Payouts go to a bank account or a card, the two methods listed under bank and card.
Is there a free cash machine allowance?+
Cash withdrawals are free within an allowance of £250, and free cash machine use is listed under free atm. Across the site, 52.9% of accounts carry the same feature, so it is a normal inclusion rather than something unusual.
How do I get help if something goes wrong?+
Support runs through help centre, which is a self-service route rather than a phone line or live chat. On this site, 79.5% of accounts offer phone support and 40% offer chat, so the gap shows when a transfer is stuck and needs a person.
Who is this account built for?+
The stated audience is expats and travelers, and the account is set up as cash management, so it targets people moving money across borders rather than long-term savers. Founded in 2011 and run by Wise Europe SA, it is a long-established name in multi-currency money.
Sources
- euclid.eba.europa.eu/register/downloads/PSDMD/20260926/do... checked September 26, 2026
Backs: Headquarters, Legal entity, Licence type, Licences
“EntityCode=BE_NBB!0713629988; EntityType=PSD_PI; ENT_NAM=Wise Europe SA”
- wise.com checked September 26, 2026
Backs: Support channels
“24/7/365 human support”
- wise.com/gb/about/wise-reviews checked September 26, 2026
Backs: Founded
“Since 2011, more than 18.9 million customers have used Wise”
- wise.com/gb/interest checked September 26, 2026
Backs: Account kind, Headline rate, Rate type
“Invest in an interest-earning fund that holds secure government-guaranteed assets”
- wise.com/gb/pricing checked September 26, 2026
Backs: Free ATM withdrawals, Audience, Features, Currency conversion fee, Exchange rate markup, Pricing model, Monthly fee, Payout methods, Transfer fee
“Withdrawing 250 GBP per month per account - Free; ATM fees over 250 GBP per month per account: 2.69% of amount over 250 GBP”
- wise.com/gb/pricing/hold-fees checked September 26, 2026
Backs: Currencies
“Hold 40+ currencies in your Wise Account for free.”
- wise.com/gb/receive-money checked September 26, 2026
Backs: Local account details
“Domestic account details - Share these for someone to pay you in the same currency by bank transfer. Get your salary in USD from the US ... British pound: Domestic / International, United States...”
- wise.com/help/articles/2932693/how-is-wise-regulated-in-e... checked September 26, 2026
Backs: Deposit protection
- wise.com/help/articles/3JsMu9TIiqgoJzR2ITHjWt/how-interes... checked September 26, 2026
Backs: Access terms
“You can send and spend your money any time - including your gains. Just like with a current account.”
Compiled from 11 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term, Minimum deposit.