After revolutionising the world of international money transfers, Wise (formerly known as Transferwise) launched its own multi-currency digital account and debit card, officially competing with the likes of Monzo and Starling on some fronts.
So, how do Starling and Wise compare? Well, for some services, Starling is still way ahead of the game. For others, Wise is really competitive and you shouldn’t rule it out. We examine the pair’s key differences and compare their fee structures.
Although they will both let you open a digital-only account that comes with an app and a debit card, there are many differences between Starling and Wise.
 |  | |
|---|---|---|
| Monthly account fee | No monthly fee | No monthly fee |
| Cost to receive card | Free | £7 |
| Card payments | Free in the UK and abroad, converted at the Mastercard exchange rate when overseas | Free in the UK and abroad, but Wise currency conversion fees apply if you don’t already hold a balance in the local currency |
| Currency conversion fees | None | Fee of 0.24% to 3.69% for card payments and ATM withdrawals, depending on the currency involved |
| ATM withdrawals | Free in the UK and abroad | 2 free withdrawals in the UK or abroad up to a total of £200 per month, then a 1.75% fee and a 50p withdrawal charge, plus Wise currency conversion fees apply if you don’t already hold a balance in the local currency |
| Money transfer fees | Free transfers to UK accounts, for international transfers there is a SWIFT/local network fee plus a 0.4% Starling fee, and money is converted at the interbank exchange rate | Every transfer involves a fixed fee plus a variable fee that both depend on the currencies involved, and money is converted at the interbank exchange rate |
| Read our review | Visit Wise |
This isn’t easy to answer because it depends on the currency involved. Starling and Wise normally use the same interbank exchange rate but they have different fee structures, so the best approach is to head to their respective websites and use the calculators provided to compare transfer fees for the country you want to send money to. Just keep in mind that Starling will only process international payments between 02:00 Monday to 22:00 Friday.
Please note: You should always refer to quotes you receive from transfer services themselves directly for exact amounts as they may vary from our estimates.
As we said, it’s hard to compete with Starling when it comes to banking. Its app and current account are both great and you get pretty much all the banking features you could possibly think of, including FSCS deposit protection. Since using the card and withdrawing cash abroad is also free, Starling is cheaper than Wise for travelling overseas.
For these reasons, if you’re looking for a current account for everyday banking, budgeting, going travelling and doing the occasional money transfer, this decision is a no-brainer and Starling is your guy.
However, as a multi-currency specialist, and with many currencies on its roster, Wise offers some niche features that can also be useful. It’s a better match for you if:
The Finder team roamed the streets of London to quiz the general public about whether they prefer cash or card. Paid content.
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