Summary: Wise Bank customers can buy a wide variety of stocks and ETFs, including Wise PLC, through regulated brokerage platforms such as eToro. The process involves depositing fiat currency from your Wise Bank account onto your chosen platform, usually without fees, especially for USD transactions.
Fees might apply for other currencies and deposit methods, so checking beforehand is recommended. Investing with Wise Bank is a straightforward and accessible option for those interested in the stock market.
Can You Buy Stocks with Wise Bank?
Yes, Wise Bank offers its customers the ability to buy a wide range of stocks and ETFs using their Wise cards or accounts. Those desiring to acquire company shares, be it blue-chip, growth, or dividend stocks, must set up an account on a European stock trading platform that allows deposits in Euro (EUR) or other currencies through Wise. It's essential to choose a platform under the supervision of a reputable financial regulatory body, such as the Financial Conduct Authority (FCA) or a comparable European entity.
How to Buy Stocks and Shares with Wise
The safest method to buy shares using a Wise account is through a regulated brokerage platform. This enables investors to securely deposit any fiat currency from their Wise Bank account using bank transfer or other accessible methods. After our analysis, we suggest platforms like eToro due to their compatibility with Wise Bank, adherence to regulations, and competitive fee structures for over 3,000 stocks, ETFs, commodities, and more.
Here is a straightforward 4-step guide to investing with your Wise Bank account:
- Register and validate your identity on eToro.
- Find the 'Deposit Funds' or a similar option on your account dashboard.
- Select your fiat currency and your payment method (e.g., Bank Transfer) and initiate your transfer from Wise.
- Once the deposit is confirmed and the funds are added to your brokerage account, you are set to invest in stocks.
What are the Costs?
The costs associated with transferring money from a Wise Bank account to a stock brokerage platform may vary depending on the platform chosen. Typically, bank transfers from a Wise Personal or Business account to an international brokerage like eToro don't carry any fees for deposits in USD, but a small fee might be applicable for deposits in EUR or GBP.
It's noteworthy to mention that deposits to brokerage platforms using a Wise Bank Debit Card might result in a fee. This is because the card issuer (Mastercard) levies a standard fee for all transactions, encompassing those related to stock acquisitions or deposits. We strongly advise checking any related fees with your selected platform prior to proceeding.
Can I Invest in Wise?
Yes, you can invest in Wise PLC. As a publicly-traded fintech company, shares of Wise PLC are listed on the London Stock Exchange under the ticker symbol 'WISE'. This makes it accessible for individual investors to buy shares and invest in the company. It's worth mentioning that investing in Wise PLC can be done directly through your Wise Bank account using a regulated brokerage platform such as eToro which offers Wise stocks.
In conclusion, Wise Bank customers have the flexibility to buy a vast array of stocks, including shares of Wise PLC, through a secure, regulated brokerage platform like eToro. This process involves depositing fiat currency from your Wise Bank account onto your chosen platform, typically without incurring fees, particularly for USD transactions.
However, costs may vary depending on the currency and deposit method, so it's always advised to verify potential fees before proceeding. Investing through Wise Bank is not only feasible but also straightforward, making it an excellent option for those who wish to dive into the stock market.