Digital Banking Solutions: Chase Vs. Wise

If you’ve ever needed to send money abroad or just want a better way to manage your day-to-day spending, chances are you’ve come across both Chase and Wise. They’re two big names in digital banking right now, but they do very different things.

Chase is backed by JPMorgan and brings that big-bank feel into a slick app, while Wise is the go-to for international transfers with super low fees and real exchange rates. They’re both great and super useful in their own rights, but there’s no doubt about the fact that they’re intended for different purposes.

So, which one’s right for you? Well, that all depends on how you use your money. Whether you’re a digital nomad, frequent traveller or just someone looking to save some money, we’ll help you figure out which platform suits your financial lifestyle best.

What Is Chase?

Chase is the UK version of the well-known American banking giant JPMorgan Chase. But if you’re expecting stuffy suits and paperwork, think again!

Launched in 2021, Chase UK is a fully digital bank that lives entirely on your phone. It’s designed to make managing your money super simple, with no physical branches and a clean, easy-to-use app.

But, with so many alternatives these days, what makes Chase stand out?

Well, for starters, it offers a sleek current account with no monthly fees, 1% cashback on spending, and a linked savings account with a competitive interest rate. You can also create “pots” to organise your money and track your spending with smart insights.

It’s ideal for people who like their banking hassle-free – whether that’s keeping tabs on daily expenses or saving for a rainy day. With strong customer service and solid security behind it, Chase blends big-bank reliability with modern, app-based convenience that’s perfect for everyday banking in the UK.

What Is Wise? 

Wise is a money transfer service turned full-blown digital banking platform – and it’s all about making international money stuff cheaper, faster and more transparent.

If you’re someone who earns, spends, or sends money abroad (hello freelancers, remote workers, travellers), Wise might be your new best friend.

At its core, Wise offers a multi-currency account that lets you hold, send and receive money in over 40 currencies at the real exchange rate – no hidden markups, no sneaky fees. You also get local bank details in several countries, which is super handy if you get paid in different currencies.

The Wise app is clean, quickand surprisingly powerful. You can track transfers in real time, get a debit card for global spending, and even earn interest on your balance. It’s smart, no-nonsense banking with a global twist – perfect if you’re always juggling currencies. Ultimately, Wise is the epitome of modern banking.

Chase Vs. Wise: A Direct Comparison

Wise and Chase are very different takes on modern banking. Chase is the UK spin-off of the well-known US bank, offering a sleek digital-only experience with the backing of a financial giant.

Wise, on the the hand, is all about low-cost, cross-border money management. It’s ideal for people who live, work, or travel internationally, whereas Chase is better suited to day-to-day UK banking with a few handy perks.

Similarities Between Wise and Chase

• Both offer user-friendly mobile apps

• Fee-free spending abroad

• No physical branches – fully digital experience on both sides

Differences Between Chase and Wise

• Chase focuses on personal banking, with features like cashback and round-ups

• Wise specialises in multi-currency accounts and low-cost international transfers

• Chase is UK-only (for now), while Wise operates globally

• Wise lets you hold 40+ currencies; Chase doesn’t support foreign currency balances

In short, if you’re sticking to the UK, Chase offers simplicity with perks. If you’re managing money across borders, Wise is hard to beat.