What are app-based banks?
App-based banks, also known as online banks, have revolutionized the way we manage our finances. But what are they?
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Wise, formerly known as TransferWise, is a global technology company that offers an array of financial services through its mobile banking platform. Wise is designed to make international banking and money transfers straightforward, cost-effective, and transparent. The platform allows users to hold and convert currencies in a multi-currency account, send money abroad at the real exchange rate, and spend globally with the Wise debit card.
The Wise mobile app provides a seamless user interface, enabling customers to manage their finances on the go. Users can track their expenditures, transfer money internationally with low fees, and receive notifications about their transactions. Moreover, Wise prides itself on its transparent fee structure, which often undercuts traditional banks, saving customers money when dealing with foreign currencies.
Wise serves not only individual customers but also caters to businesses with its Wise for Business account, offering features like batch payments and integration with accounting software. This makes it a favorite among freelancers, expats, small businesses, and anyone involved in frequent cross-border transactions.
Go to WiseWallester offers a similar feature set to Wise, but with a focus on making business banking effortless.
Explore what real users have to say about their experiences with Wise. These 5-star reviews showcase the exceptional service and satisfaction provided by this neobank, giving you insight into why it's a top choice for customers worldwide.
Consistently impresses me with their attention to customer needs. Better than any other bank I've used. I appreciate little gestures like refunding savings from currency exchanges. Highly recommend.
16/08/2024
So far, everything has been positive. I opened an account that initially remained idle, but then I successfully changed my address with a smooth verification process. The physical card was mailed without any issues, and I also opted for a virtual card. I've used both cards successfully so far. I'm very satisfied with the service; I haven't encountered any problems, and I've never needed to contact customer service. Overall, it’s been a good experience, and I hope it continues to be so for WISE and its customers.
15/08/2024
I just opened a new account, and my first impressions are excellent so far. I was able to make a fast money transfer to a non-Wise account, which was very easy to do. Wise’s website has excellent two-factor authentication security with various options. The fees are lower than MoneyGram, which I had been using for over 10 years. Soon, I will be traveling to Vietnam and planning to convert my currency to VND. Wise's fees are so low that I wish I had opened a new account sooner. A referral code would have been helpful as well.
16/08/2024
Our recent travels required currency conversions, transfers, and payments in NZD, GBP, EUR, and Turkish lira, and Wise made managing these transactions incredibly straightforward once we learned how to navigate the app and supporting card. Wise will be our go-to card for international travel from now on.
16/08/2024
As a Dutch expat permanently living in the Philippines, I find that Wise seamlessly integrates with Dutch and European banks, as well as those in the Philippines. This allows me to transfer money within seconds at a fraction of the cost compared to traditional banks. It's incredibly powerful!
15/08/2024
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Wise, formerly known as TransferWise, is a global technology company that offers an array of financial services through its mobile banking platform. Wise is designed to make international banking and money transfers straightforward, cost-effective, and transparent. The platform allows users to hold and convert currencies in a multi-currency account, send money abroad at the real exchange rate, and spend globally with the Wise debit card.
The Wise mobile app provides a seamless user interface, enabling customers to manage their finances on the go. Users can track their expenditures, transfer money internationally with low fees, and receive notifications about their transactions. Moreover, Wise prides itself on its transparent fee structure, which often undercuts traditional banks, saving customers money when dealing with foreign currencies.
Wise serves not only individual customers but also caters to businesses with its Wise for Business account, offering features like batch payments and integration with accounting software. This makes it a favorite among freelancers, expats, small businesses, and anyone involved in frequent cross-border transactions.
Wise is currently available for residents of the following countries:
Belgium, United Kingdom, France, Germany, Netherlands, Spain, Austria, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, Switzerland, Czech Republic (Czechia), Albania, Andorra, Belarus, Bosnia and Herzegovina, Moldova, Monaco, Montenegro, North Macedonia, San Marino, Serbia, Ukraine, Antigua and Barbuda, Bahamas, Barbados, Belize, Costa Rica, Canada, United States, New Zealand, South Africa, India, Japan, Malaysia, Singapore, South Korea, Brazil, Chile, Colombia, Australia, Egypt, Vatican City, Cuba, Dominica, Dominican Republic, El Salvador, Grenada, Guatemala, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago, Fiji, Kiribati, Marshall Islands, Micronesia, Nauru, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu, Algeria, Angola, Benin, Botswana, Burkina Faso, Côte dIvoire, Cabo Verde, Cameroon, Comoros, Djibouti, Equatorial Guinea, Eswatini, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Tanzania, Togo, Tunisia, Uganda, Zambia, Zimbabwe, Armenia, Azerbaijan, Bahrain, Bangladesh, Bhutan, Brunei, Cambodia, China, Indonesia, Israel, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Laos, Lebanon, Maldives, Mongolia, Nepal, Oman, Pakistan, Palestine State, Philippines, Qatar, Saudi Arabia, Sri Lanka, Syria, Tajikistan, Thailand, Timor-Leste, Turkmenistan, United Arab Emirates, Uzbekistan, Vietnam, Georgia, Turkey, Argentina, Bolivia, Ecuador, Guyana, Paraguay, Peru, Suriname, UruguayNo matter where you are, at home or abroad, you can access your Wise account via the app, check your account balance, control your savings, get customer support, make payments and even freeze your debit card if needed. In addition, get real-time notifications every time you make a transaction, so there won’t be any surprises at the end of the month. No need to make appointments, stand in line and lose working hours to manage your finances.
Opening an account with Wise is simple, with no lengthy paperwork. Just download the app, prove your identity, top up your account and you’re ready to go. Wise doesn’t require a copy of your credit history to approve your account, meaning you can open an account and get approved in minutes.
Another main reason to use Wise is the low (or no!) fees. Wise has no physical branches, therefore they can offer lower fees than traditional banks – especially when it comes to ATM withdrawals, money exchange/transfer and payments abroad. For example, Wise offers zero fees on all transactions, including purchases made overseas!
Wise = borderless banking. Low/no exchange rates and low/no ATM withdrawal fees worldwide make traveling a whole lot easier (and cheaper) than with traditional banks- especially in the eurozone. And for added safety, freeze or unfreeze your debit card while you travel, directly in the app.
One of the frustrating things about traditional banks is the amount of documents, contracts and letters that are sent to your mailbox. With Wise everything you need is in the app and all communications are sent to your app or your email. Gone are the days of rummaging through piles of paper around your house – and protecting the environment is the cherry on top.