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Personal Finance · head to head

Starling Bank vs Wise

Starling Bank logo

Starling Bank

Personal Finance

UK-licensed digital bank with FSCS-protected deposits, built and majority-owned without a US parent

From
Free
Rated
-
Full reviewWebsite
Wise logo

Wise

Personal Finance

Multi-currency account and international transfers priced at the mid-market rate plus an upfront fee

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Starling Bank as a UK-only bank, customers wanting broad multi-currency holding, international transfers or in-app investing will need a separate product, since Starling's feature set stays deliberately focused on core banking.; Wise wise is an electronic money institution, not a bank, so balances are safeguarded rather than covered by deposit insurance schemes, and a customer who treats it as a current account is taking a different risk from a bank deposit.
  • They diverge on capability: Starling Bank covers FSCS-protected deposits, Wise covers International transfers.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Starling Bank and Wise actually diverge.

Attributes where Starling Bank and Wise differ
AttributeStarling BankWise
Pricing modelFree personal current account; business accounts have free and paid tiersPercentage of the amount converted
PlatformsiOS, Android, WebWeb, IOS, Android
FoundedUnknown2011

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Personal Finance).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Starling Bank

  • FSCS-protected deposits
  • Business banking suite
  • Fee-free foreign card spending
  • Savings Spaces
  • Joint accounts
  • Starling mortgages

Only in Wise

  • International transfers
  • Real exchange rates
  • Multi-currency accounts
  • Bill payments
  • Bank accounts
  • Cryptocurrency
  • Web support
  • IOS support

What people use each for

The jobs each tool is most often brought in to do.

Starling Bank

  • A UK resident wanting a free, fully licensed current account with FSCS deposit protectionnot Wise
  • A sole trader or small business wanting a business account with built-in invoicing rather than a separate accounting subscriptionnot Wise
  • A frequent traveller wanting fee-free card spending abroad on a UK-regulated accountnot Wise
  • A saver wanting goal-based Spaces sub-accounts without opening a separate savings productnot Wise

Wise

  • Budget Managementnot Starling Bank
  • Expense Trackingnot Starling Bank
  • Investment Trackingnot Starling Bank

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Starling Bank

  • As a UK-only bank, customers wanting broad multi-currency holding, international transfers or in-app investing will need a separate product, since Starling's feature set stays deliberately focused on core banking.
  • Business account paid tiers add a monthly fee for features that some competitors bundle for free, so cost comparison against other business banking options should account for the tier actually needed, not the free entry point.
  • Like other app-first banks, Starling has very limited physical presence, which is a real limitation for customers needing to deposit cash or prefer in-person service.
  • Mortgage lending is limited to buy-to-let through a subsidiary rather than a full residential mortgage range, so it is not a one-stop option for a typical homebuyer.
  • Interest rates on savings Spaces and any lending products are set individually and can change, so the specific rate should be checked at the time of opening rather than assumed from marketing.

Wise

  • Wise is an electronic money institution, not a bank, so balances are safeguarded rather than covered by deposit insurance schemes, and a customer who treats it as a current account is taking a different risk from a bank deposit.
  • The headline percentage is a floor, not an average: it starts from 0.23 to 0.24 percent depending on region, and thin or exotic corridors cost several times that, so the advertised number tells you almost nothing about the corridor you actually use.
  • Funding a transfer by debit or credit card adds a materially higher fee than funding by bank transfer, and the cheap headline rate assumes you use the slower funding route.
  • Compliance holds are common and opaque: transfers can be frozen for verification with limited explanation and no branch to visit, which is painful when the money is a rent payment with a deadline.
  • Fees, card issue costs, ATM allowances and available features differ by country of residence, so a price checked on one country site does not apply to an account opened elsewhere.
  • It is a payments product only, with no overdraft, no lending and no domestic banking relationship, so most users still need a bank account alongside it.

Pricing, plan by plan

Starling Bank

Free
  • Personal current accountFree
    • Free current account with FSCS-protected deposits
    • Fee-free foreign currency card spending
    • No monthly account fee
  • Business Toolkit$7/month
    • Integrated invoicing and expense categorisation
    • Multiple sub-accounts (Spaces) for tax and VAT setting-aside
    • Accounting software integrations

Wise

Free
  • Personal accountFree
    • Free to register, no monthly or subscription fee
    • Hold balances in dozens of currencies at no charge
    • Local account details for receiving payments
  • Send or convert money$undefined/per transfer
    • From 0.23 percent on the US pricing page and from 0.24 percent on the UK page
    • The exact percentage varies by currency pair
    • Funding by card or e-wallet costs more than funding by bank transfer
  • Wise debit card$9/one-time
    • 9 USD one-off issue fee in the US, 7 GBP in the UK
    • No subscription fee
    • Spending a currency you already hold is free

Which should you pick?

Choose Starling Bank if

  • You need fscs-protected deposits.
  • You want to start without paying.
  • You work on iOS, Android, Web.
  • You also want business banking suite.
Starling Bank review

Choose Wise if

  • You need international transfers.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want real exchange rates.
Wise review

Questions people ask

Is Starling Bank or Wise better?
Neither clearly leads. Starling Bank starts at Free and Wise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Starling Bank or Wise?
Starling Bank starts at Free and Wise at Free.
Does Starling Bank or Wise run on more platforms?
Starling Bank runs on iOS, Android, Web. Wise runs on Web, IOS, Android.
Can I use Starling Bank for free?
Both have a free tier, so you can try either at no cost before committing.
What is Starling Bank best used for?
Starling Bank is most often used for a uk resident wanting a free, fully licensed current account with fscs deposit protection, a sole trader or small business wanting a business account with built-in invoicing rather than a separate accounting subscription, a frequent traveller wanting fee-free card spending abroad on a uk-regulated account, a saver wanting goal-based spaces sub-accounts without opening a separate savings product. Of those, a uk resident wanting a free, fully licensed current account with fscs deposit protection and a sole trader or small business wanting a business account with built-in invoicing rather than a separate accounting subscription are not what Wise is typically brought in for.
What can Starling Bank do that Wise cannot?
Starling Bank covers FSCS-protected deposits, Business banking suite, Fee-free foreign card spending, Savings Spaces. Wise covers International transfers, Real exchange rates, Multi-currency accounts, Bill payments.

Answered from the vendors’ own pages

Starling Bank: Is Starling Bank a real bank?

Yes, Starling Bank Limited holds a full UK banking licence and is regulated by the FCA and PRA, the same framework as traditional UK banks.

Wise: What does Wise actually charge to send money?

A percentage of the amount, stated before you confirm, starting from 0.23 percent on the US pricing page and 0.24 percent on the UK one. The rate varies by currency pair, and paying by card costs more than paying by bank transfer.

Starling Bank: Are deposits protected if Starling fails?

Eligible deposits are covered by the Financial Services Compensation Scheme up to 85,000 pounds per eligible person, the same statutory protection as other UK banks.

Wise: Does Wise really use the mid-market rate?

Yes. Conversion is done at the live mid-market rate with no margin added, and the cost is charged as a visible fee instead. That is the opposite of a bank that quotes a worse rate and calls the transfer free.

Starling Bank: Is Starling good for a small business?

It has a well regarded business banking product with integrated invoicing and accounting software links, commonly used by UK sole traders and small companies.

Wise: How much is the Wise card?

A one-off issue fee of 9 USD in the United States or 7 GBP in the United Kingdom, with no subscription. ATM withdrawals are free up to 250 per calendar month in the account currency, then 1.95 USD plus 1.95 percent per withdrawal in the US and 2.69 percent of the excess in the UK.

Wise: Is a Wise account free to open?

Yes. Registering is free and there is no monthly fee. You pay only when you send or convert money, or when you order a card.

Wise: Is Wise a bank?

No. It is an authorised electronic money institution, so your money is safeguarded at partner institutions rather than protected by deposit insurance.

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