Starling Bank vs Wise
A side-by-side look at how these two wallets stack up — and which one wins for which job.
| Feature | Starling Bank | Wise |
|---|---|---|
| Score | 4.5 / 5 | 4.5 / 5 |
| Best for | Free UK personal and business banking | Cheap, transparent international transfers |
| Monthly fee | Free personal account | Free (one-time card fee in some regions) |
| Exchange rate | Mastercard rate, no markup | Mid-market + transparent fee (often <0.5%) |
| Send / receive | Free UK transfers | Low variable fee (~0.33%+) |
| Withdrawals | Free in the UK and abroad | Free up to a monthly cap, then small fee |
| Card | Yes — debit Mastercard | Yes — physical & virtual debit Mastercard |
| Availability | United Kingdom | 160+ countries |
| Currencies | GBP (EUR/USD business accounts) | 40+ currencies |
| Regulation | UK PRA/FCA full banking licence (FSCS protected) | FCA (UK), NBB (Belgium), FinCEN (US) |
| Founded | 2014 | 2011 |
Starling Bank
Starling Bank is a fully licensed UK app bank with FSCS-protected deposits, no fees on overseas spending or ATM withdrawals, interest on balances and highly regarded free business accounts. It is one of the strongest all-round UK options, especially for freelancers and small businesses, though it is UK-only and GBP-focused.
Pros
- Full UK bank, FSCS-protected deposits
- No fees on overseas spending or ATM withdrawals
- Excellent free business accounts
Cons
- UK-only
- GBP-focused for personal accounts
- Fewer lifestyle perks than some rivals
Wise
Wise (formerly TransferWise) is the benchmark for transparent, low-cost international transfers, using the real mid-market rate plus a small visible fee. Its multi-currency account holds 40+ currencies with local account details, making it ideal for freelancers and frequent travellers. It is an e-money provider rather than a full bank, so it lacks credit products and bank-style deposit insurance.
Pros
- Mid-market exchange rate with low transparent fees
- Hold and convert 40+ currencies
- Local account details in multiple currencies
Cons
- Not a full bank (no deposit insurance like a bank)
- ATM withdrawals free only up to a monthly cap
- No credit or overdraft features
The bottom line
Overall, Starling Bank edges ahead with a score of 4.5 versus 4.5 — but the right choice depends on your priorities. Check both against your own country and use case before deciding.