Wise
Global fintechNo DGS (EMI)Best for: Cross-currencyBest for: Cheap FXBest for: Local account details
Pros & Cons
Pros
- True mid-market FX
- local receiving details in 9+ currencies
- transparent fees
Cons
- Not a bank — no €100k deposit guarantee (funds safeguarded)
Rating breakdown
Foreigner onboarding67
USD handling60
Transfers100
Value & fees30
Licence & deposit protection
No DGS (EMI)No DGS — funds safeguarded (EMI)
This is an electronic money institution (EMI), not a bank. Funds are safeguarded, but NOT covered by the €100,000 deposit guarantee. Convenient, but legally it isn't a bank deposit.
- Licence
- EMI · National Bank of Belgium
- IBAN
- Multi-currency details
- SEPA Instant
- Send & receive
- Verification of Payee (VoP)
- Rolling out
Deposit & savings rates
Compare all deposits →| Product | Currency | TAE / APY | Term | Conditions | Source |
|---|---|---|---|---|---|
| Wise Interest (EUR) | EUR | 1.76% | On demand | Función Wise Interest/Assets (fondo monetario), no el saldo principal. Opt-in. Variable, sin FGD. | Sourceas of 2026-06-23 |
Editorial review
Wise runs on an EMI licence: convenient, but your money is safeguarded rather than covered by the €100k deposit guarantee.
It is a global fintech licensed in BE supporting EUR, USD, GBP etc. FX model: True mid-market rate + transparent percentage fee.
It tends to suit cross-currency, cheap fx, local account details.
Fees & terms
- Exchange rate
- True mid-market rate + transparent percentage fee
- Card cost
- One-off card issuance fee
- Currencies
- EUR, USD, GBP etc
- Cards
- Global Physical, Global Virtual
- Transfers
- SEPA in/out, SEPA Instant in/out, SWIFT in/out, Local multi-currency in
- Payments
- Apple Pay, Google Pay
- Licence
- EMI — National Bank of Belgium
- IBAN
- Multi-currency details
- Multi-currency account
- EUR+GBP+USD+6 more local details
- SEPA Instant
- Send & receive
- Verification of Payee (VoP)
- Rolling out
- FX model
- True mid-market rate + transparent percentage fee
- Opening requirements
- No local address needed
- English support
- Yes
- Remote opening
- Yes
- Headquarters
- United Kingdom
Also consider
FAQ
- Is my money protected?
- No. Wise operates under an EMI licence — funds are safeguarded but NOT covered by a €100k Deposit Guarantee Scheme. It is not a bank in the deposit-protection sense.
- What IBAN and transfers?
- Wise issues local receiving details in several currencies. SEPA Instant: send + receive. Multi-currency: EUR+GBP+USD+6 more local details.
- Can I open remotely, in English?
- Opening is remote. English support is available. Requirements: No local address needed.
Data provenance & verification
Every fact is checked against an official source and stamped with a date. We re-check fees quarterly and document requirements twice a year. Fields not yet independently verified are labelled honestly.
Updated: Dataset compiled: