Wise Review 2026: Best Account for International Transfers in Europe?
🟡 Important: Wise Is Not a Bank
Wise is an e-money institution (EMI), not a licensed bank. Your funds are safeguarded in ring-fenced accounts at top-tier banks, but are not covered by the EU Deposit Guarantee Scheme. This means no €100,000 guarantee if Wise becomes insolvent. For large balances, consider a fully licensed bank instead.
Overview
The global benchmark for transparent, low-cost international transfers — always at the real exchange rate with no hidden markups; 4.3/5 Trustpilot from 220K+ reviews confirms industry-leading trust
Key Features
- Hold and convert 40+ currencies at real mid-market exchange rate
- Local bank account details in 9 currencies (EUR, GBP, USD, AUD, NZD, CAD, SGD, HUF, RON)
- International Mastercard debit card — spend in local currency at no markup
- Send money to 160+ countries, starting from 0.43% fee
- Bulk payments (up to 1,000 at once) for business
- Free incoming transfers in supported currencies
- Interest-earning on GBP, EUR, and USD balances (Assets feature)
- Two free ATM withdrawals/month up to €200
Pros & Cons
✅ Pros
- • Hold and convert 40+ currencies at real mid-market exchange rate
- • Local bank account details in 9 currencies (EUR, GBP, USD, AUD, NZD, CAD, SGD, HUF, RON)
- • International Mastercard debit card — spend in local currency at no markup
- • Send money to 160+ countries, starting from 0.43% fee
- • Bulk payments (up to 1,000 at once) for business
❌ Cons
- • Not a bank — e-money institution only; no lending, overdraft, or credit products
- • Funds safeguarded but not FSCS/DGS protected in the traditional sense
- • Accounts closed without clear reason for some business users
- • Fee increases on EUR/GBP conversions reported in 2025-2026
- • Some transfers 'paused' with funds temporarily unavailable
- • Belgian IBAN for EU business accounts can complicate local admin
Travel Features
Compare all banks for travel →Foreign Exchange
No markupAlways mid-market rate (no markup). Fee is a transparent conversion cost from 0.43%. Cheapest FX globally for most currency pairs.
ATM Abroad
€200 free/mo2 free ATM withdrawals/month up to €200 total. After limit: €1.50 flat + 1.75%. Wise debit card spends in local currency with no markup.
Travel Insurance
Wise does not include travel insurance.
Airport Lounge
No airport lounge access.
Multi-Currency
Hold 40+ currencies; local bank details in 9 currencies. Ideal for receiving salary or payments in multiple countries.
✈️ Travel Perks
- • Mid-market FX rate on every transaction globally
- • Hold 40+ currencies — no last-minute conversion at airport
- • Local bank details in 9 currencies for receiving income abroad
- • Transparent fees (no hidden markup) on all 160+ countries
- • Real-time spend notifications and security controls
Services: Crypto, Investing & Savings
Cryptocurrency
Not availableWise does not offer cryptocurrency services.
Investments
Available'Assets' feature invests idle balances in BlackRock money market funds or government bonds; available for GBP, EUR, USD
Compare investing across EU neobanks →Savings
AvailableMoney market / government bond yields; variable
Not a savings account — funds invested in money market funds. Not DGS protected.
Compare savings rates across EU neobanks →Business Banking
AvailableAccounting: Xero, QuickBooks, FreeAgent, Wave, Sage
Best for international payments and multi-currency businesses. 9 local bank details in different currencies. No monthly fee — pay per transfer. Not a full bank (EMI); no EDIS deposit protection, but funds are safeguarded. 16M+ personal + business customers.
Compare all business accounts →Premium Plans
Compare all banks' premium plans →- • Hold 40+ currencies at mid-market rate
- • Local bank details in 9 currencies
- • 2 free ATM withdrawals/month (up to €200)
- • Cheapest international transfers from 0.43%
- • Assets feature: earn interest on idle balances
| Feature | Personal Account Free ★ Best value |
|---|---|
| Metal card | — |
| Travel insurance | — |
| Airport lounge | — |
| Free ATM/month | €200 |
| Free FX/month | — |
| Savings rate | ~3.20% EUR via Assets |
| Cashback | — |
| Top perks |
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Our Verdict
Wise is the global benchmark for international transfers — real exchange rates, low fees from 0.43%, and 220,000+ Trustpilot reviews at 4.3/5. It is our pick for Best for International Transfers. However, it is not a bank. Do not use it as a primary account for large savings — use a fully licensed EU bank for that.