Wise launches UK current account with travel perks

Wise has launched a UK current account after serving more than 3 million active people and businesses in the country last calendar year.

The product adds features including an airport lounge pass, under-18 cards and access to returns on sterling balances through Wise Assets' interest feature. UK customers hold more than £8 billion in Wise accounts, with more than £4 billion of that in Wise Assets.

The launch marks a broader push by the London-listed financial technology group into day-to-day banking, an area long dominated by the UK's high street lenders. Wise built its name on international transfers and multi-currency accounts, but is now trying to persuade customers to use its account for salaries, bills, spending and shared household expenses.

Customers can receive money using their sterling details and more than 20 other sets of local account details. The account also supports direct debits for regular payments, while users can send money to more than 70 countries and spend abroad at the mid-market exchange rate.

Wise says 74% of its global payments now arrive instantly, in under 20 seconds. It has also added shared spending spaces for groups and payment links that let users send or request money without entering bank details.

Travel features

Part of the new offer is a travel hub in the Wise app. It includes a one-off airport lounge access pass for customers in the UK and selected other markets, alongside travel information on how to pay locally when abroad.

Wise is also formally rolling out Young Explorer cards after a testing phase. Aimed at children under 18, the cards are linked to a parent or guardian's current account, allowing adults to top up funds for spending and cash withdrawals.

Parents and guardians can track spending, approve payments and receive instant notifications. The feature was introduced in response to customer demand.

Returns offer

The launch also highlights Wise's attempt to stand apart from many current accounts that pay little or no return on balances. More than £250 billion is held in UK current accounts earning 0% interest, according to the company.

Customers using the current account can earn a 3.26% variable rate on sterling balances through the interest feature in Wise Assets, with no lock-in period. They can still use the money for daily spending while receiving a return. Around half of all UK deposits on the platform are already held in Wise Assets.

That approach may appeal to customers who want a single account for spending, transfers and cash management, though the return is linked to an investment product rather than a standard bank savings balance. Wise is not presenting the account as a conventional branch-based banking offer, instead focusing on digital account management and international use.

Customer growth

Globally, Wise now serves more than 15.6 million active customers and is adding 100,000 new customers each week. Customers hold more than £27.5 billion in Wise accounts in total.

In its 2025 financial year, the company processed more than £145 billion in cross-border transactions and says it saved customers around £2 billion. Those figures underline how heavily the business still depends on international money movement, even as it expands into broader account services.

"Banks haven't kept pace with what customers expect for their current account. People shouldn't need separate accounts for home and abroad. With the Wise Current Account, we're giving customers a smarter way to manage their daily financial needs. They can hold and fully access their money while getting a return, easily spend on everyday purchases and split bills, and send and receive money quickly across borders - all at a low cost with no hidden fees," Nilan Peiris, Chief Product Officer at Wise, said.

Security features include the ability to freeze and unfreeze cards, real-time spending notifications and warning messages for payments that Wise's systems identify as potentially suspicious.

The launch comes as financial technology groups continue to push into territory once controlled by established banks, using app-based products to target customers who travel frequently, move money internationally or want a single account for multiple currencies and everyday spending.

For Wise, the challenge will be whether those users shift more of their main banking activity to its platform rather than keeping it as a secondary account for travel and transfers. In the UK, everyday usage is already rising, with more than £8 billion now held by customers on the platform.