Summary: Wise Bank does not directly offer stock or ETF investing through their online banking app. The Wise platform only allows its customers to send or receive money, and switch between 53 different fiat currencies.
The best way to buy stocks, ETFs, commodities and other assets with Wise Bank is through a European Securities and Markets Authority and FCA-licensed exchange like eToro. Their platform offers fast and cheap deposits from Wise via Bank Transfer, SEPA Transfer, Wise Debit Card, Credit Card and a variety of other methods.
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Can I Buy Stocks or ETFs with Wise Bank?
No, Wise Bank (formerly Transferwise) does not offer any stock trading features through its mobile banking app. Their platform only facilitates cross-border or local money transfers for personal or business accounts.
That said, Wise does allow its customers to deposit fiat from their Wise Bank account to a Financial Conduct Authority (FCA) licensed and regulated broker. With this method, you can send funds to a broker via Bank Transfer, Debit Card or Credit with any of the 53 fiat currencies available on the app.
How to Buy Stocks with Wise
The best way to buy stocks with Wise Bank in Europe, the UK and even the United States is the eToro trading platform. They offer fast and cheap fiat deposits for Wise account holders to trade over 8,000 stocks, ETFs, commodities, mutual bonds and even over 80 different cryptocurrencies. Their platform is secure, trusted and regulated by the FCA, European Securities and Markets Authority and CySec in Cyprus.
You can get started with this simple guide:
- Sign up to eToro and verify your identity.
- Click 'Deposit Funds' and pick a method and send funds to eToro from Wise Bank.
- Search for the stock you want in the search bar, and tap 'Trade'.
- Input the amount you want to purchase and select 'Set Order'.
Can I Buy Wise (Transferwise) Stocks?
Yes, you can invest in Wise stocks through a licensed broker like eToro which offers Wise PLC (LON: WISE) shares. This means that you can withdraw money from your Wise account onto this platform to buy Wise shares.
Wise PLC currently has a market capitalization of $5 billion with over $560 million in quarterly revenues as of March 2023.
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What is Wise?
Wise (formerly TransferWise) is a money transfer service that helps you send money abroad. With Wise, you can send money to over 50 countries around the world, including the US, UK, Canada, Australia, and more. Wise also offers a borderless account which allows you to hold and manage your money in multiple currencies. You can also use Wise to send money to friends and family abroad, or to make international payments for business purposes.
If you are looking for a convenient and cost-effective way to send money overseas, Wise is definitely worth considering. With Wise, you can be sure that your money will arrive safely and quickly, without any hidden fees. Their platform is licensed and regulated as a money service provider by the Financial Conduct Authority (FCA) in the United Kingdom.
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Final Thoughts
In conclusion, while Wise Bank doesn't offer stock or ETF investing directly through their app, users can still invest in various assets by depositing fiat to a licensed broker like eToro. As a secure, trusted, and regulated platform, eToro allows Wise customers to trade thousands of stocks, ETFs, commodities, and cryptocurrencies. To begin, sign up for an eToro account, deposit funds from your Wise account, search for your desired asset, and execute the trade. Additionally, Wise PLC shares can be purchased through eToro, making it possible to invest in Wise itself.
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