Wise, founded in 2011, operates in the financial services and international banking sectors. The company was established with the mission of addressing hidden fees in traditional banking by offering a faster, cheaper system for moving money across borders. Its approach centres on transparency, using the real mid-market exchange rate rather than marked-up rates common among conventional banks.
The company's core products include an international money transfer service and a multi-currency account. The transfer service enables users to send money abroad at the real mid-market rate, processing over £14 billion each month across more than 160 countries and supporting over 40 currencies. The multi-currency account allows users to hold balances in over 50 currencies, spend worldwide with a debit card, and send money at the real exchange rate.
Wise serves millions of individuals and businesses. The company positions itself as a smarter alternative to traditional banks for international money transfers and multi-currency account management, with a focus on eliminating hidden fees and providing complete cost transparency to its users.
