Wise VS Charity Bank: Business Banking Review & Fee Comparison

Is Wise or Charity Bank better for your small business?

Below we look at both Wise and Charity Bank 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.

Wise vs Charity Bank Trustpilot Reviews

	Wise	Charity Bank
Trustpilot Review Score (out of 5)	4.2	3.3
Percent 5-Star Reviews	83%	33%
Percent 1- Star Reviews	7%	34%
Total Number of Reviews	207,506	3

Sources:
https://www.trustpilot.com/review/wise.com
https://www.trustpilot.com/review/charitybank.org

Wise vs Charity Bank App Reviews

	Wise	Charity Bank
iPhone Review Score (out of 5)	4.8	No Rating
Number of iPhone Reviews	85,400	No Reviews
Android Review Score (out of 5)	4.8	No Rating
Number of Android Reviews	762,000	No Reviews

Sources:
https://apps.apple.com/gb/app/wise/id612261027
https://www.apple.com/uk/app-store/

Wise vs Charity Bank Account Fees & Charges

	Wise	Charity Bank
Free Business Bank Account	No	No
Free Business Account Term Length	NA	NA
Cheapest Monthly Account Fee	Free	Free
Most Expensive Monthly Account Fee	Free	Free
Electronic Payment Cost (in/out)	0.42%	No
Cash Payments Cost (in/out)	2% / 1.75%	Free
Cheques (in/out)	Unknown	Free
CHAPS Payments Cost	£25	£10
SEPA Payments Cost	No	20p

Wise vs Charity Bank Business Savings Rates

	Wise	Charity Bank
Types of Business Savings Accounts	BlackRock ICS Sterling Government Liquidity Fund	CITR accounts, Easy Access, Notice Accounts, Fixed Account
Lowest Savings Rate (AER)	4.67%	2.02%
Maximum Savings Rate (AER)	4.67%	4.51%
Minimum Savings Amount	£1	£1,000
Interest Paid On Foreign Currencies	Yes	No

Wise vs Charity Bank Account Opening Times

	Wise	Charity Bank
Can You Apply Online?	Yes	Yes
How Long Does Opening An Account Typically Take?	2 Working days	Undisclosed
Do They Check Your Credit?	No	Yes
Current Account Switch Service	No	Yes

Wise vs Charity Bank Features & Account Types

	Wise	Charity Bank
Business Current Account	Yes	Yes
Business Savings Account	No	Yes
Business Credit Card	No	No
Business Overdraft	No	No
Accounts For Startups	Yes	Yes
Accounts For Charities	Yes	Yes
Accounts For Sole Traders	Yes	Yes
Joint Business Accounts Available	No	Yes
Card Type	Visa/Mastercard	Mastercard
Online Banking	Yes	Yes
Mobile Banking	Yes	No
In Person/Branch Banking	Yes	No
Branch Locations	None, online only	Tonbridge

Wise vs Charity Bank Customer Support Options

	Wise	Charity Bank
Phone Support Available	Yes	Yes
Email Support Available	Yes	Yes
App Based Support	Yes	No
Web Based Support	Yes	Yes
In person Customer Support	Yes	No

Wise vs Charity Bank Foreign Currency Accounts

	Wise	Charity Bank
US Dollar (USD) Bank Accounts	Yes	No
Euro (EUR) Bank Accounts	Yes	No
Other Currencies Available:	AUD – Australian dollar BGN – Bulgarian lev BRL – Brazilian real CAD – Canadian dollar CHF – Swiss franc CZK – Czech koruna DKK – Danish krone EUR – Euro GBP – British pound HKD – Hong Kong dollar HUF – Hungarian forint IDR – Indonesian rupiah INR – Indian rupee JPY – Japanese yen MYR – Malaysian ringgit NOK – Norwegian krone NZD – New Zealand dollar PLN – Polish złoty RON – Romanian leu SEK – Swedish krona SGD – Singapore dollar	No

Other Business Services From Wise and Charity Bank

	Wise	Charity Bank
Business Loans	No	Yes
Commercial Mortgages	No	Yes
Invoice Financing	No	No
International Payments	Yes	Yes
Merchant Payment Services	Yes	No
Card Machines	No	No
Free Accounting Software	Yes	No

Wise vs Charity Bank Banking Basics

	Wise	Charity Bank
Bank Type	Challenger	Challenger
FSCS Protection	No, unless money is held in assets	Yes, up to £85,000
FCA Number	900507	207701
Website	Wise Website	Charity Bank Website

Common Comparison Questions

Does Wise or Charity Bank have better customer reviews?

Wise scores 4.2 out of 5 based 207,506 Trustpilot reviews. Of these reviews 83% are 5-star and 7% are 1-star.

Whereas, Charity Bank scores 3.3 out of 5 based 3 Trustpilot reviews. Of which 33% are 5-star and 34% are 1-star.

Does Wise or Charity Bank have a better App?

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.

In comparison, Charity Bank’s iPhone App is rated No Rating out of 5 based on No Reviews reviews. And it’s Android App is rated No Rating out of 5 based on No Reviews reviews.

Does Wise or Charity Bank have better business savings rates?

Wise offers the following types of business savings accounts: BlackRock ICS Sterling Government Liquidity Fund with interest rates ranging from 4.67% to 4.67%. (AER)

In contrast, Charity Bank offers CITR accounts, Easy Access, Notice Accounts, Fixed Account accounts with interest rates ranging from 2.02% to 4.51% (AER).

See Other Comparisons:
Wise vs Cumberland Building Society
Wise vs Redwood Bank
Wise vs Amaiz
Wise vs ICICI Bank UK
Wise vs Intergiro


For other business bank accounts see our guide here.