Wise

The control for cross-border. Pair with a licensed local bank for salary protection. Never describe Wise personal as a UK bank account.

Wise (TransferWise) built the mid-market FX brand. Personal is an EMI in the UK; business is the B2B evolution. Local account details are issued via partners so clients can get paid as if they were local. Safeguarding is not deposit insurance.

Wise lists EMI (personal) under FCA in United Kingdom. On safeguarding we currently write: Safeguarded EMI funds in the UK — not FSCS. Local bank details may sit at partner banks.. Holder / issuer line: Partner banks for local account details; Wise itself is an EMI in the UK. An AML programme is claimed. Local bank details (IBAN / sort code / equivalent) are part of the pitch. We list 13 live markets on the product. As we score the sticker: monthly Free personal · Wise Business subscription optional; FX Mid-market plus a transparent conversion fee — the category benchmark; ATM Two free ATM withdrawals / £200 then fees (personal, check current); interest Assets / interest in selected currencies via partners. This desk would open it for: Anyone who receives or sends money across borders for a living.

What it does well: Honest FX — the number others hide; Local details that make you look domestic; Business platform that scales past the card. What to watch: Not a bank in the UK — no FSCS on the EMI wallet; Account reviews can freeze funds mid-invoice; ATM and spend caps on the free plan. Desk score 8.6 / 10 (safety 8.0, fees 9.4, features 8.2, app 8.8). Last verified 2026-08-01. Headquartered in London, United Kingdom; founded 2011. None of this is advice — it is a file so you can read the entity before the card colour.