Varo Money vs Wise.
Varo Money (V82/100) 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. A close tie.
| V Varo Money №04 · OCC 82 /100 | W Wise №42 · FCA 68 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 82 /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 OCC | E-money inst. FCA |
| Deposit guarantee Per depositor | $250,000 US.FDIC | Safeguarded GB.FSCS |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 160 countries |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | Yes |
| UX | ||
| Trustpilot Customer score | 4.2 ★ 8k reviews | 4.3 ★ 220k reviews |
| App store iOS + Android avg | 4.6 ★ iOS 4.7 · And 4.5 | 4.5 ★ iOS 4.7 · And 4.2 |
| Read review → | Read review → | |
Pick Varo Money if…
First US neobank to receive an OCC national bank charter (July 2020). Direct FDIC member — your money sits at Varo Bank, N.A., not a sponsor. Headline 5.00% APY savings rate on the first $5K with direct deposit — among the highest in the US neobank market.
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 Varo Money won 2 of 2
- Best for reach Wise won 2 of 3
- Best for ux Tied
Varo Money vs Wise — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Varo Money better than Wise?
Varo Money and Wise are tied 4–4 across 12 dimensions under our v3 methodology. Composite scores: Varo Money 82/100 vs Wise 68/100. The right pick depends on which dimension you weight most heavily.
Is Varo Money or Wise cheaper?
Monthly fee — Varo Money: €0; Wise: €0. Card FX markup — Varo Money: 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, Varo Money or Wise?
Varo Money holds a Full bank licence under OCC; deposit guarantee per depositor: $250,000. Wise holds a E-money inst. licence under FCA; deposit guarantee per depositor: Safeguarded. Varo Money is the stronger pick on regulatory protection.
Where can I use Varo Money and Wise?
Varo Money 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.