Compare UK Digital Banks
Independent reviews of digital & app based banking
Wise Review
Wise is a global money platform built for fast, low-cost international transfers and multi-currency banking. Known for its transparent fees, real mid-market exchange rates, and powerful multi-currency account, Wise is ideal for people who travel, work internationally, or manage money across borders.
FSCS Protection — If you want to understand how the £120,000 FSCS guarantee protects your savings, click here to read our helpful guide →
Key Features
| FSCS Protection | No — Not a bank; funds are safeguarded and held separately |
| Monthly Fee | £0 (on the standard account) |
| Current Accounts | No — Offers a multi-currency account to hold, send, and spend in 40+ currencies, with local account details for 10 currencies |
| Savings Accounts | Not traditional savings; offers an 'interest feature' for eligible USD, GBP, and EUR balances |
| Credit Card | Not offered — Multi-Currency Debit Card only |
| Spending Abroad | Spend with the mid-market exchange rate; low conversion fees apply. No foreign transaction fees on card |
| App Features | International transfers, live currency rate tracking, multi-currency management |
| Loans | Not offered |
| Top Savings Rate | Varies by currency — Interest feature offers up to 3.4% APY on USD (capital at risk) |
Wise at a Glance
- Wise offers a multi-currency account with real exchange rates, low-cost international transfers, and a debit card for spending abroad without hidden markups.
Wise Services
Wise provides low-cost international money transfers, multi-currency accounts supporting 40+ currencies, local bank details in multiple countries, and a debit card for spending abroad with minimal fees. It is designed for transparent, global money management.
✅ Pros
- Low-cost international transfers with transparent fees
- Real exchange rates with no hidden markups
- Hold and convert 40+ currencies
- Local bank details in multiple countries
- Fast, reliable global payments
- Excellent for travel, remote work, and international income
- Wise debit card for low-fee spending abroad
- Clean, modern, easy-to-use app
⚠️ Cons
- Not a full UK bank — no FSCS protection
- No overdrafts, loans, or credit products
- Cash deposits not supported
- ATM withdrawals have limits and fees
- Not ideal as a sole everyday UK current account
Why We Like Wise
We like Wise because it delivers unmatched transparency and value for international money management. With real exchange rates, low fees, and excellent global coverage, Wise is one of the most trusted and effective tools for handling money across borders.
How We Compare Digital Banks
Compared with UK digital banks like Monzo, Starling, or Chase, Wise excels at international transfers and multi-currency management rather than everyday UK banking. It is the clear choice for travellers, expats, freelancers, and anyone dealing with money globally.
Financial Information Disclaimer
The information on this website is provided for general guidance only and may not always reflect the latest fees, rates, or terms offered by each bank. While we do our best to keep content accurate and up-to-date, you should always check the bank’s official website or app before applying for an account. Nothing on this site constitutes financial advice.
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