Wise announces 3.92% APY on USD account balances for US customers

Rick Steves

“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.”

Wise has announced a new feature of the Wise Account which offers US-based business and individual customers the opportunity to opt-in to receive 3.92% APY on their USD balances.

Clients will be able to earn interest on USD balances while still keeping the flexibility to send, spend and receive money internationally with instant access to their funds, in other words, they’ll be able to manage global business growth and operations or personal international financial needs.

A champion for transparency in finance

Those who opt-in to receive interest are eligible for FDIC pass-through insurance up to $250,000 through Wise’s program bank JPMorgan Chase Bank, N.A.

Wise made clear that the Wise Account is neither a checking or savings account – there are no additional limits to the amount customers can hold in the account and no balance minimums or fees involved.

Sharon Kean, director of global expansion at Wise, said: “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. 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.”

The new interest rate feature is available to all new and existing Wise US customers.

Interactive Brokers added ‘Pay with Wise’ options

Interactive Brokers has recently integrated Wise to allow clients a simple and seamless experience when making deposits in their trading accounts.

‘Pay with Wise’ is now an option for IBKR clients looking to convert their local currency to an Interactive Brokers-supported currency at the true mid-market exchange rate, free from hidden fees and markups, and all without leaving their IBKR platform.

IBKR clients can leverage Wise to save money on transfer fees when investing in their choice of 150 international markets worldwide through a quick and easy service.

Additionally, clients can transfer directly from balances in their linked Wise accounts. Customers may receive their money in the chosen currency in a matter of seconds — over 50% of all transfers globally sent on Wise are instant (arriving in less than 20 seconds).

Read this next

Digital Assets

Crypto.com shuts down its US institutional exchange

Crypto.com has announced plans to discontinue its institutional exchange service for professional customers in the United States as soon as June 21.

Retail FX

ThinkMarkets launches copy trading platform ‘ThinkCopy’

Melbourne-based broker, ThinkMarkets has introduced ThinkCopy, a copy trading platform that aims to provide clients with access to experienced traders and a range of social features.

Retail FX

Robinhood delists Solana, Cardano, and Polygon amid SEC’s crackdown

Commission-free brokerage Robinhood Markets announced on Friday that it would be delisting three crypto tokens from its platform. The decision comes shortly after the U.S. regulators intensified its regulatory actions against major cryptocurrency exchanges.

Digital Assets

US wants Bittrex to settle federal dues before compensating customers

The U.S. government has raised objections to Bittrex’s proposal to compensate its customers, adding to concerns about the resolution of the crypto exchange’s bankruptcy case.

Digital Assets

Binance prepares to suspend US dollar funding after SEC crackdown

Binance.US said it will temporarily suspend US dollar deposits and provided customers with a deadline to withdraw their fiat balances. This decision comes after the US Securities and Exchange Commission (SEC) filed a lawsuit requesting the freezing of Binance’s assets in the country.

Digital Assets

Januar launches real-time payments network to fill gap made by Silvergate and Signature

“To all the entrepreneurs and innovators out there is a clear message: if you are a legitimate European business working with crypto then Januar is here to provide you with the account and payment infrastructure you need to operate successfully and build the financial system of tomorrow.”

Retail FX

Exness’ active clients top 515K as monthly volume hits $3.35 trillion

FX trading volumes are climbing again as economic uncertainty spurred by recent developments over central banks’ policies encouraged speculators to pile back into the market.


Danske Bank plans signficant investment in digital platforms

“We have decided to significantly increase our investments in our digital platforms, expert advisory services and sustainability, focusing on the areas where we see the best opportunities for profitable growth.”

Digital Assets

ERD DeFi Lending Platform and USDE Stablecoin Unveiled at EDCON 2023

ERD, the Ethereum Reserve Dollar, is a decentralized lending platform and stablecoin that aims to provide a capital-efficient, decentralized, and stable solution to the challenges faced by the stablecoin industry, introducing a minimum collateralization ratio of 110% and a robust liquidation mechanism.