Wise

Wise (formerly TransferWise) is a foreign exchange financial technology company. Wise specializes in cross-border payment transfers.

Wise offers three products: Wise Account, Wise Business, and Wise Platform. Wise is not a bank, as it states it does not lend out customer money to others. However, it offers accounts through Wise Account for customers to hold their money while sending, receiving, and spending. Customers may opt-in to earn interest on the account and gain FDIC insurance on up to $250,000 of their deposit, relying on Wise's partnership with banks. Wise Business allows businesses to perform cross-border money transfers. Wise Platform is a platform allowing "banks and businesses to offer their customers fast, cheap and transparent ways to manage their money across borders".