Fintech vs. transparency
Since 2011, we’ve been comparing ourselves to the old, expensive, and traditional banks. But the time's come to compare ourselves to our fintech peers — on price and transparency — even if we don’t always come out on top.
What does transparency mean to our competitors?
Fintechs claim they're cheap, or even free. But free can mean different things to different companies. Let's see how the challengers stack up when it comes to being clear on pricing.
Compare the costs
| Disclosure of fees and exchange rate markups | |
|---|---|
 | Yes |
 | No |
 | Yes |
 | No |
| No false free claims | |
| Yes |
| No |
| Yes |
| Yes |
| Clear, comprehensive pricing info | |
| Yes |
| No |
| Yes |
| No |
To us, radical transparency means making your pricing crystal clear — even when you’re not the cheapest. So people can make more informed choices on what’s right for them.
Are challenger banks transparent?
Fintechs are setting a new standard for speed and price. And there's room for us all.
But we always call out companies that mislead their customers on pricing. It holds us accountable too.
How does Wise compare against challengers and PayPal?
It can be difficult to know how much it really costs to send or spend money abroad. So we've checked if challenger banks are as cheap as they say they are.
Compare the costs
| Monthly account fees | |
|---|---|
| Free |
 | Free |
 | Free |
| Free |
| Free |
| Spend £250 on a debit card in EUR | |
| 87p |
| £2.50 |
| £0 |
| £0 |
| N/A |
| 1x withdrawal of £250 in EUR / month | |
| £1.38 |
| £3.50 |
| £1 |
| £0 |
| N/A |
| Send £250 to EUR | |
| £1.13 |
| £2.50 |
| £0 |
| £1.30 |
| £1.99 + markup |
