Rakuten Bank vs Ualá.
Rakuten Bank (R77/100) and Ualá (U49/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. A close tie.
| R Rakuten Bank №13 · JFSA 77 /100 | U Ualá №80 · BCRA 49 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 77 /100 | 49 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | Interbank | 4.00% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank JFSA | Payment inst. BCRA |
| Deposit guarantee Per depositor | €10,000,000 JP.DICJ | Safeguarded AR.SEDESA |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 3 countries |
| Crypto Coins available | No | 6 coins |
| Stocks & ETFs Self-directed | Yes | Yes |
| UX | ||
| Trustpilot Customer score | — | 2.4 ★ 5k reviews |
| App store iOS + Android avg | 4.3 ★ iOS 4.4 · And 4.2 | 4.5 ★ iOS 4.6 · And 4.5 |
| Read review → | Read review → | |
Pick Rakuten Bank if…
Largest Japanese internet-only bank by customer count (~14M+) and the only TSE Prime-listed pure-play net bank (TYO: 5838, IPO 21 April 2023 — the largest Japanese IPO in five years at the time). Originally chartered as eBank in 2001; acquired by Rakuten Group (TYO: 4755) in 2009. Structural moat is the Rakuten Points + Rakuten Card + Rakuten Securities + Rakuten Mobile + Rakuten Ichiba ecosystem — points cross-pollinate across the entire surface area. Full FSA Banking Act licence; statutory DICJ member at the JPY 10,000,000 ceiling.
Pick Ualá if…
The default Argentine fintech card (~9M users in AR). Wilobank acquisition (2022) gave Ualá a full Argentine banking licence — converts the wallet to a chartered bank for AR depositors. Mexican + Colombian expansions via local subsidiaries. Argentine inflation-hedge yield (Rendimientos) is a near-mandatory product for ARS holders.
- Best for fees Rakuten Bank won 1 of 4
- Best for protection Rakuten Bank won 2 of 2
- Best for reach Ualá won 2 of 3
- Best for ux Ualá won 2 of 2
Rakuten Bank vs Ualá — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Rakuten Bank better than Ualá?
Rakuten Bank and Ualá are tied 4–4 across 12 dimensions under our v3 methodology. Composite scores: Rakuten Bank 77/100 vs Ualá 49/100. The right pick depends on which dimension you weight most heavily.
Is Rakuten Bank or Ualá cheaper?
Monthly fee — Rakuten Bank: €0; Ualá: €0. Card FX markup — Rakuten Bank: Interbank; Ualá: 4.00%. Rakuten Bank wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Rakuten Bank or Ualá?
Rakuten Bank holds a Full bank licence under JFSA; deposit guarantee per depositor: €10,000,000. Ualá holds a Payment inst. licence under BCRA; deposit guarantee per depositor: Safeguarded. Rakuten Bank is the stronger pick on regulatory protection.
Where can I use Rakuten Bank and Ualá?
Rakuten Bank operates in 1 country; Ualá operates in 3 countries. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
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