United States
United Arab Emirates
Singapore
activeHalal bankingNeobank
- HQ
- London
- Fee
- Freemium / subscription SKUs — confirm live
Wahed
Sharia-screened investing. Not a current account.
Tap a star to jump to reviews
7.3Solid
AlternativesFive questions
At a glance
Is it a bank?
No. Wahed is not a licensed bank. Confirm who the money sits with before you send salary there.
If it fails?
Securities accounts, not a bank deposit scheme — SIPC/FSCS-class wrapping depends on entity
Salary?
Not listed. An IBAN or sort code is not automatically a salary account.
Open from abroad?
Residency and KYC are gated. An App Store listing is not proof you can onboard.
Monthly fee
AUM fee on portfolios (live rate on site)
Account number
No IBAN-class local rail on this file.
NeoBankDB Verdict
Licence first · score second
7.3
/10 · Solid
Wahed is a screened robo, not a current account. Pair it with a real bank. Do not describe the cash sleeve as FSCS current-account money without reading the entity.
What it is
Wahed runs Sharia-screened portfolios through local entities. It is investment software with a scholar overlay — not a neobank.
Best for: Muslims who want a screened portfolio without building one from a brokerage blank page.
Last checked 2026-08-01. Not advice.
What it does well
- +Sharia screening is the product
- +Multi-market entities
- +Simple onboarding
What to watch
- −Not a bank
- −Fees on AUM
- −Halal ≠ risk-free
Who holds the money
The account
- Platforms
- Web · iOS · Android
- Account types
- Halal invest · savings (market-dependent)
- Minimum balance
- From $0 / market minimum
- Lowest monthly fee
- AUM fee, not a current-account fee
- Who can open
- Individuals in live markets
- Availability
- US, UK, MY, and more
How money actually moves
- Who holds the cash
- Insured bank deposit
- How money moves
- ACH / USD · Faster Payments
- Built for
- Personal · Halal · Investing
- Settlement
- App-ledger instant; bank rails per corridor
- Freeze risk
- Fintech reviews can pause inbound while they check a transfer
- Card
- Wahed has no card listed on this file.
Licence first
Safety
Securities accounts, not a bank deposit scheme — SIPC/FSCS-class wrapping depends on entity
- SEC / FCA / SC (by entity)Investment adviser / manager — confirm the local entity · Multi
Fees
- Monthly
- AUM fee on portfolios (live rate on site)
- FX markup
- Conversion inside the portfolio, not a Wise clone
- ATM
- Not a debit bank
Features
- –IBAN
- –Fee-free core
- ✓Multi-currency
- –Apple Pay
- –Google Pay
- –Virtual card
- –Physical card
- –Metal card
- –Crypto
- ✓Stocks
- –Business
- –Kids
- ✓Halal
- Sharia board
- ETFs and sukuk
- Round-ups
- Retirement sleeves in some markets
- Screened equities
Score
- Safety25%
- 7.4
- Fees20%
- 6.8
- Features15%
- 7.6
- App15%
- 8.0
- Global15%
- 7.2
- Support10%
- 6.8
Change log
Full logLicence
Local investment entities (SEC / FCA / SC — confirm)
Sharia-screened robo. Securities accounts, not a current account.
Licence
Local investment entities (SEC / FCA / SC — confirm)
Sharia-screened robo. Securities accounts, not a current account.
Straight answers
FAQ
01Is Wahed a bank?
Wahed is filed as Investment adviser / manager — confirm the local entity. The named regulator is SEC / FCA / SC (by entity). Still read the entity on the statement before you send money.
02What happens to money in Wahed if it fails?
Securities accounts, not a bank deposit scheme — SIPC/FSCS-class wrapping depends on entity
03What does Wahed charge each month?
The monthly fee on this file is AUM fee on portfolios (live rate on site). Fees change — open the operator's pricing page if it is linked.
Ratings and reviews
5.0 / 5 from 1 published review on NeoBankDB.
Yusuf A.
United Kingdom· 2026-08-27Verified userScreened portfolio without building one from a blank broker. Not a current account.
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