Is Wise right for me?
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Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. Some links are referral links — we may earn a commission. You can check a firm’s details on the FCA Register.
Quick answer
Wise could suit you if you send money abroad, hold more than one currency or travel and want clear conversion fees. It isn’t a bank, so it’s not a home for savings you want FSCS protected.
Wise at a glance
| Question | What we found |
|---|---|
| Bank? | No — e-money institution |
| Account fee? | Free (card £7) |
| Conversion fee? | From 0.24% |
| Free ATM use? | £250 a month |
| FSCS? | No — safeguarded |
Figures as of 4 October 2026, taken from the provider’s own website. Rates and fees can change. This is general information, not a recommendation.
Who it’s for
- You send or receive money internationally
- You hold several currencies
- You want the mid-market rate with a clear fee
Who should skip it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- You want FSCS protection
- You need credit or cash deposits
Full explanation
Try a real amount in our currency conversion calculator, then compare the quote on Wise.
The catch
Cash withdrawals cost 2.69% above £250 a month.
Some links in this table are referral links. We may earn a commission if you use them, at no extra cost to you. Rankings are based on our review methodology, not commission.
FAQs
Is the Wise link a referral link?
Yes — it’s a referral link and we may earn a commission. It doesn’t affect what you pay.
Can I use Wise as my main bank account?
It works for spending and receiving money, but it isn’t a bank and doesn’t offer overdrafts.
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