Wise

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".[1]

As of 2024, Wise partners with BlackRock for its interest bearing accounts.