To be clear, Wise (previously "Transfer Wise", symbol `WISE` on the LSE) is not a bank. Wise is a Money Services Business in the US; in the UK, they are an Electronic Money (e-money) Institution. When they are holding your money, they use the services of one or more actual banks.

So, I'd be careful calling Wise a "UK bank", as that gives the wrong impression.

More info about how Wise UK works: https://wise.com/help/articles/4IusAofIppsIGPcs7sEIXI/how-ou...