Rakuten Bank vs Wise.
Rakuten Bank (R70/100) and Wise (W68/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Wise leads Rakuten Bank 4-2.
| R Rakuten Bank №33 · JFSA 70 /100 | W Wise №42 · FCA 68 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 70 /100 | 68 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 /mo |
| FX markup Debit card abroad | Interbank | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | €200 /mo |
| Protection | ||
| Banking licence Tier | Full bank JFSA | E-money inst. FCA |
| Deposit guarantee Per depositor | Safeguarded No DGS | Safeguarded GB.FSCS |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 160 countries |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | Yes |
| UX | ||
| Trustpilot Customer score | — | 4.3 ★ 220k reviews |
| App store iOS + Android avg | 4.3 ★ iOS 4.4 · And 4.2 | 4.5 ★ iOS 4.7 · And 4.2 |
| 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 Wise if…
Pick if FX and multi-currency receiving accounts dominate your usage — not for stocks or crypto.
- Best for fees Wise won 1 of 4
- Best for protection Rakuten Bank won 1 of 2
- Best for reach Wise won 1 of 3
- Best for ux Wise won 2 of 2
Rakuten Bank vs Wise — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Rakuten Bank better than Wise?
Under our v3 methodology, Wise leads Rakuten Bank 4–2 across 12 dimensions. Composite scores: Rakuten Bank 70/100 vs Wise 68/100. Wise is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Rakuten Bank or Wise cheaper?
Monthly fee — Rakuten Bank: €0; Wise: €0. Card FX markup — Rakuten Bank: Interbank; Wise: Interbank. Wise 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 Wise?
Rakuten Bank holds a Full bank licence under JFSA; deposit guarantee per depositor: Safeguarded. Wise holds a E-money inst. licence under FCA; deposit guarantee per depositor: Safeguarded. Rakuten Bank is the stronger pick on regulatory protection.
Where can I use Rakuten Bank and Wise?
Rakuten Bank operates in 1 country; Wise operates in 160 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?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.