= TransferWise
{c}
{tag=Good}
{wiki=Wise_(company)}
This is a good company, first they truly helped reduce international transfer fees. They they continued to morph into a decent <challenger bank>.
Their Wise Interest account was amazing as of late 2023: https://wise.com/gb/interest/
Instant access with representative national interests and 0.29% fees.
Brick and mortar banks were way way behind in that regard!
E.g. October 2023, Wise was doing 4.87% interest after fees, while Barclay's best option was 1.16% above 5k pounds on the Rainy Day Saver (5% below). Ridiculous!
Update: On November 2023 unfortunately they more than doubled their fees from 0.19% to 0.46%:
* https://github.com/cirosantilli/cirosantilli.github.io/issues/118
* https://www.reddit.com/r/transferwiser/comments/180pilt/why_did_wise_interest_gbp_fees_just_go_up/
* https://www.quora.com/unanswered/Why-did-Wise-Interest-GBP-fees-went-up-massively-from-0-19-to-0-46-in-November-21-2023
but it still was a good option to keep cash in.
Back to article page