Is Nationwide or Wise better for your small business?
Below we look at both Nationwide and Wise reviews on Trustpilot along with their App reviews from Apple and Google.
We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.
Nationwide vs Wise Trustpilot Reviews
| Nationwide | Wise | |
| Trustpilot Review Score (out of 5) | 1.7 | 4.2 |
| Percent 5-Star Reviews | 15% | 83% |
| Percent 1- Star Reviews | 75% | 7% |
| Total Number of Reviews | 5,509 | 207,506 |
https://www.trustpilot.com/review/www.nationwide.co.uk
https://www.trustpilot.com/review/wise.com
Nationwide vs Wise App Reviews
| Nationwide | Wise | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 595,000 | 85,400 |
| Android Review Score (out of 5) | 4.5 | 4.8 |
| Number of Android Reviews | 106,000 | 762,000 |
https://apps.apple.com/gb/app/nationwide-mobile-banking/id542355130
https://apps.apple.com/gb/app/wise/id612261027
Nationwide vs Wise Account Fees & Charges
| Nationwide | Wise | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | £6.50 | Free |
| Most Expensive Monthly Account Fee | £30 | Free |
| Electronic Payment Cost (in/out) | Free | 0.42% |
| Cash Payments Cost (in/out) | 1% | 2% / 1.75% |
| Cheques (in/out) | £1.50 | Unknown |
| CHAPS Payments Cost | £15 | £25 |
| SEPA Payments Cost | No | No |
Nationwide vs Wise Business Savings Rates
| Nationwide | Wise | |
| Types of Business Savings Accounts | Instant access, Limited access, Fixed rate | BlackRock ICS Sterling Government Liquidity Fund |
| Lowest Savings Rate (AER) | 2.25% | 4.67% |
| Maximum Savings Rate (AER) | 6.50% | 4.67% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Nationwide vs Wise Account Opening Times
| Nationwide | Wise | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 2 Working days |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | No |
Nationwide vs Wise Features & Account Types
| Nationwide | Wise | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | No |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Visa | Visa/Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | UK-wide | None, online only |
Nationwide vs Wise Customer Support Options
| Nationwide | Wise | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | Yes |
Nationwide vs Wise Foreign Currency Accounts
| Nationwide | Wise | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
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Other Business Services From Nationwide and Wise
| Nationwide | Wise | |
| Business Loans | No | No |
| Commercial Mortgages | Yes | No |
| Invoice Financing | No | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | No |
| Free Accounting Software | No | Yes |
Nationwide vs Wise Banking Basics
| Nationwide | Wise | |
| Bank Type | Building Society | Challenger |
| FSCS Protection | Yes, up to £85,000 | No, unless money is held in assets |
| FCA Number | 106078 | 900507 |
| Website | Nationwide Website | Wise Website |
Common Comparison Questions
Does Nationwide or Wise have better customer reviews?
Nationwide scores 1.7 out of 5 based 5,509 Trustpilot reviews. Of these reviews 15% are 5-star and 75% are 1-star.
Whereas, Wise scores 4.2 out of 5 based 207,506 Trustpilot reviews. Of which 83% are 5-star and 7% are 1-star.
Does Nationwide or Wise have a better App?
Nationwide’s iPhone App is rated 4.8 out of 5 based on 595,000 reviews. And it’s Android App is rated 4.5 out of 5 based on 106,000 reviews.
In comparison, Wise’s iPhone App is rated 4.8 out of 5 based on 85,400 reviews. And it’s Android App is rated 4.8 out of 5 based on 762,000 reviews.
Does Nationwide or Wise have better business savings rates?
Nationwide offers the following types of business savings accounts: Instant access, Limited access, Fixed rate with interest rates ranging from 2.25% to 6.50%. (AER)
In contrast, Wise offers BlackRock ICS Sterling Government Liquidity Fund accounts with interest rates ranging from 4.67% to 4.67% (AER).
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For other business bank accounts see our guide here.