Wise review
Send, spend and hold money in many currencies
- Wise plc
- Free
- iPhone & iPad, Android, Web
Does it deserve #4?
The verdict
Wise is the easiest way to move money across borders without losing a chunk to poor exchange rates. It uses the mid-market rate and shows its fee upfront, so you know exactly what arrives. The multi-currency account and debit card make travel and freelancing simpler. It is not a bank, though, and fees on large or unusual currency routes can add up.
- Mid-market exchange rates
- Multi-currency account
- International debit card
- Transparent upfront fees
Score breakdown
Overall = features 30% · design 20% · speed 20% · value 15% · privacy 15%. Why these weights?
What we like
- Fees and exchange rate shown before you send
- Hold and convert dozens of currencies
- Fast transfers on most popular routes
What could be better
- Not a bank, so it lacks loans and overdrafts
- Card and account features vary by country
Travelers, expats and freelancers who send or receive money across borders
you need a full-service bank with loans, overdrafts or branches
Questions about Wise
Is Wise free?
Wise has no monthly fee for its personal account. You pay a fee, shown upfront, each time you convert or send money, and some card or account features carry small one-time charges in certain countries.
Is Wise safe to use?
Wise is regulated as a payments or e-money provider where it operates and safeguards customer money. It is not a bank, so deposit protection works differently from a regular bank account.
What are the best alternatives to Wise?
The closest alternatives are Revolut, Robinhood and Monarch Money. See all of them ranked on our Wise alternatives page.
Where does Wise rank?
Wise ranks #4 of 10 in our Money & Investing ranking, with an overall score of 8.7 out of 10.