Wise (formerly TransferWise) is an international financial platform built for people who live, work, or send money across borders. Founded in 2011, it now serves over 12 million active customers globally. For expats in Germany, it's one of the most practical tools available for managing money across currencies — without the fees and friction of traditional banks.
Wise uses the mid-market exchange rate — the same one you'd find on Google — and charges a small, clearly stated fee shown upfront before you confirm any transfer. There are no exchange rate markups or surprise charges.
What Wise offers:
- Send money to 140+ countries at mid-market rates with no hidden markups
- Hold and convert 40+ currencies in one account
- Receive money in 20+ currencies using local account details (for example, a European IBAN or a UK sort code)
- Spend in 160+ countries with the Wise multi-currency debit card — no foreign transaction fees
- Free ATM withdrawals up to a monthly limit
- Earn interest on euro, pound, and dollar balances (opt-in)
- Business accounts available for freelancers and companies
Need to know:
- Languages: English, German, and 12 other languages
- Website in English: Yes
- Support: 24/7 via in-app chat and email; phone support available
- Regulated in the European Union by the National Bank of Belgium; 65+ licences worldwide
- Wise is not a bank — funds are safeguarded in separate accounts at regulated financial institutions and are not covered by standard deposit protection schemes
