United States
United Arab Emirates
SingaporeactiveHalal bankingNeobank
- HQ
- London
- Fee
- Freemium / subscription SKUs — confirm live
Wahed
Sharia-screened investing. Not a current account.
Rate this app
7.3Solid
AlternativesOur take
Desk verdict
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.
Wahed runs Sharia-screened portfolios through local entities. It is investment software with a scholar overlay — not a neobank.
Wahed lists Investment adviser / manager — confirm the local entity under SEC / FCA / SC (by entity) in Multi. On safeguarding we currently write: Securities accounts, not a bank deposit scheme — SIPC/FSCS-class wrapping depends on entity. An AML programme is claimed. There is no IBAN-class local rail on the flags we store. We list 4 live markets on the product. As we score the sticker: monthly AUM fee on portfolios (live rate on site); FX Conversion inside the portfolio, not a Wise clone; ATM Not a debit bank. This desk would open it for: Muslims who want a screened portfolio without building one from a brokerage blank page.
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. Desk score 7.3 / 10 (safety 7.4, fees 6.8, features 7.6, app 8.0). Last verified 2026-08-01. Headquartered in New York, United States; founded 2015. None of this is advice — it is a file so you can read the entity before the card colour.
Best for: Muslims who want a screened portfolio without building one from a brokerage blank page.
Pros
- +Sharia screening is the product
- +Multi-market entities
- +Simple onboarding
Cons
- −Not a bank
- −Fees on AUM
- −Halal ≠ risk-free
Account facts
- 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 it actually works
- Custody
- Insured bank deposit
- Local rails
- ACH / USD · Faster Payments
- Built for
- Personal · Halal · Investing
- Settlement
- App-ledger instant; bank rails per corridor
- Review risk
- Fintech reviews can pause inbound while they check a transfer
- Pay surface
- No card rail listed
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.
FAQ
Is Wahed a bank?+–
Wahed is not a licensed deposit-taker in the classic sense. Treat the balance as a fintech ledger until you confirm the holder.
How is money protected?+–
Securities accounts, not a bank deposit scheme — SIPC/FSCS-class wrapping depends on entity
Where is Wahed available?+–
We list 4 market desks on the desk. Residency and onboarding rules still sit with Wahed.
Card and wallets?+–
No card rail listed
Ratings and reviews
5.0 / 5 from 1 published review on this desk.
Yusuf A.
United Kingdom· 2026-08-27Verified userScreened portfolio without building one from a blank broker. Not a current account.
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