back Back

Wise launches new interest feature for US customers

By Delisha Fernandes

April 26, 2023

  • Banking
  • financial news
  • FinTech
Share

WiseWise, the global technology company, is offering its US-based business and personal customers the opportunity to opt-in to receive 3.92% APY on their USD balances.

This new feature of the Wise Account will allow customers to earn interest on USD balances while keeping the flexibility to send, send and receive money internationally with instant access to their funds.

Customers who hold USD can utilize this feature while managing global business growth and operations or personal international financial needs. Also, those who opt-in to receive interest are eligible for FDIC pass-through insurance up to $250,000 through the company’s program bank JPMorgan Chase Bank, NA.

The company stores customer funds with program banks, which generates interest and continues to honour its core value of transparency as rates have improved by allowing US customers to benefit by earning interest on their USD balances.

“As a champion for transparency in finance, we believe that the interest our customers’ money is making should be passed back to them whenever possible, and we’re excited to be able to do so now,” said Sharon Kean, director of global expansion at Wise. “The Wise account is the universal way to manage money internationally and was built to save our customers time and money. We’re now enhancing that offering with the launch of our new interest rate feature.”

All Wise US new and existing customers can access the interest option in their accounts. Customers must verify their SSN/EIN to be eligible. New customers can easily sign up for Wise through the website or app and immediately opt-in to the interest feature.

Previous Article

April 26, 2023

Worldline forms payments joint venture with Crédit Agricole

Read More
Next Article

April 26, 2023

European Payments Initiative acquires iDeal and Payconiq

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

Banking

Security experts sound the alarm on Deepfake threats in the age of AI

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Navy Federal Credit Union expands partnership with Backbase

Read More

Today

FinTech Focus: Catch latest developments of the week

Read More

Today

Parafin secures $125m warehouse facility from Silicon Valley Bank & Trinity Capital

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023