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Posted

As the title says, Wise has accounts in USD - GBP - EUR, that can earn you interest.

https://wise.com/gb/interest/

They aren't actual savings accounts, but rather investments in a BlackRock fund.

Anyone here that has money in such an account for a considerable time already, and can give feedback on the performance compared to a savings or other currency account in the same currency?

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Posted

30% tax withholding on all interest earned is deducted and paid to the Belgian government. No refunds. 

  • Confused 3
Posted
12 minutes ago, RSD1 said:

30% tax withholding on all interest earned is deducted and paid to the Belgian government. No refunds. 

 

First of all, withholding tax in Belgium is 15%, secondly you pay withholding tax in the country you are tax resident, which is Thailand

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Posted
33 minutes ago, CallumWK said:

 

First of all, withholding tax in Belgium is 15%, secondly you pay withholding tax in the country you are tax resident, which is Thailand


All I know is that they deduct 30% from the interest I earn on my Wise account balances. And the address on my Wise account isn't in Thailand. 

Posted
3 minutes ago, gargamon said:

Which blackrock fund? Should be easy to look at past performance.

 

 

 

 

There are links to the blackrock fund in the Wise link in the OP

Posted
2 hours ago, CallumWK said:

 

There are links to the blackrock fund in the Wise link in the OP

Ah, it's a money markey fund. Hardly an investment account.

 

Open a Schwab International account and pick whatever you want. Get an ATM card from them and they'll pay all fees with no ATM international transaction fees. I'm sure there are others.

Posted
22 hours ago, RSD1 said:

30% tax withholding on all interest earned is deducted and paid to the Belgian government. No refunds. 

 

interest rates also suck in BE compared to USA/UK...  I always wonder, how can santander UK give 5% and only 2.xx something in Belgium... same bank...

 

I wanted to buy blackrock ishares, but only for US citizens...

 

European stocks, not interested

  • Like 1
Posted
23 hours ago, CallumWK said:

 

First of all, withholding tax in Belgium is 15%, secondly you pay withholding tax in the country you are tax resident, which is Thailand

You are giving wrong information, dont post a comment when you dont know what you are talking about. The OP is right!

  • Haha 1
Posted
Just now, rutteketuut said:

You are giving wrong information, dont post a comment when you dont know what you are talking about. The OP is right!

 

I AM the OP, and Belgian, so I guess I know how much withholding taxes are in Belgium

  • Haha 2
Posted
2 hours ago, CallumWK said:

 

I AM the OP, and Belgian, so I guess I know how much withholding taxes are in Belgium

Indeed, but the OP asked for comments without saying anything about Belgium or taxes. I believe the poster you replied to was referring to your comment about Thailand which was obviously wrong. You are not in a position to say which tax residency would be applicable to the account concerned.

My account is UK and I have had the interest jar since it started and there has been no withholding tax.

I also have also had the stocks jar for over 3 years and there has been no mention of tax. I was asked to confirm tax residency on both jars when opened, I have dual tax residency so for Wise it would be the UK.

As far as I can remember the interest has been in the order of 4.2% during it's time, better than the 4% on my HSBC bonus saver.

The stocks got of to a bad start with negative growth in the first year but last 2 years or so growth has been quite steady.

Posted
12 minutes ago, sandyf said:

I have had the interest jar since it started and there has been no withholding tax.

I also have also had the stocks jar for over 3 years and there has been no mention of tax. I

 

What is the interest jar and the stock jar? I don't see any options in the link I posted in the OP.

Posted
4 hours ago, rutteketuut said:

You are giving wrong information, dont post a comment when you dont know what you are talking about. The OP is right!

 

savings account 15%

 

term account or others is indeed 30%

 

someone has to sponsor all the illegals, politicians, ...

Posted
On 1/13/2025 at 10:59 AM, CallumWK said:

As the title says, Wise has accounts in USD - GBP - EUR, that can earn you interest.

https://wise.com/gb/interest/

They aren't actual savings accounts, but rather investments in a BlackRock fund.

Anyone here that has money in such an account for a considerable time already, and can give feedback on the performance compared to a savings or other currency account in the same currency?

 

I recall reading on the Wise website somewhere that their jar balances earn a whopping 0.5% interest.

 

This would be bigly betterer!

 

Earn up to 3.92% APY with our interest feature,  FDIC insured.

 

Think immigration will accept this account to hold 800K?

Posted
22 hours ago, CallumWK said:

 

So as a European I can get a Schwab account in Euros that pays interest?

 

Could it be you missed the point of the OP, which is getting interest?

 

At Wise, dollars pay 3.92, pounds 3.32, and euros.........1.61%

Posted
On 1/13/2025 at 11:43 AM, CallumWK said:

 

First of all, withholding tax in Belgium is 15%, secondly you pay withholding tax in the country you are tax resident, which is Thailand

 

All US customers with a SSN/EIN will be eligible to opt in (SSN/EIN verification will be required during opt in, unless already verified). We need this to verify your tax information so that we can report your taxes correctly. Please note this feature is not available to residents of New York and Alaska at this time.

 

https://wise.com/us/interest/

 

Nothing has been remitted to Thailand.

Posted
2 hours ago, NoDisplayName said:

 

At Wise, dollars pay 3.92, pounds 3.32, and euros.........1.61%

My Wise Sterling jar is currently paying 4.2%, Dollar 4.18% and Euro is paying 2.61%.

 

 

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Posted
8 hours ago, CallumWK said:

 

What is the interest jar and the stock jar? I don't see any options in the link I posted in the OP.

 

 

@CallumWK    

I'm assuming that the Wise app you use is the same as mine.

'Jars' are what Wise calls any account you create to separate an amount of cash from the main currency accounts used to transfer & receive money.  
Say I wanted to set aside some EUR from my main EUR balance, so I have EUR cash to pay  for my annual health insurance.  I scroll horizontally on the cash balances on the homepage until I see a + sign allowing a new 'balance' to be created.  When I hit the + sign I'm given the option to 'open a balance' or 'open a jar'.  'Balance' is for to create another account in a different currency.  'Jar' is what I use to split off some EUR cash to budget for my next insurance bill.

 

To move some cash into one of the money-market funds & get interest on my EUR, I click on my main EUR account balance, then click on 'options'.  On the next menu, click 'earn' & I'm given the choice INTEREST or STOCKS or CASH.  I choose INTEREST to start the process and what I get at the end is another 'jar', except this one is for EUR which earns interest in the Blackrock fund.

 

Apologies for the long-winded reply!
 

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Posted
20 minutes ago, xllxix said:

 

 

@CallumWK    

I'm assuming that the Wise app you use is the same as mine.

'Jars' are what Wise calls any account you create to separate an amount of cash from the main currency accounts used to transfer & receive money.  
Say I wanted to set aside some EUR from my main EUR balance, so I have EUR cash to pay  for my annual health insurance.  I scroll horizontally on the cash balances on the homepage until I see a + sign allowing a new 'balance' to be created.  When I hit the + sign I'm given the option to 'open a balance' or 'open a jar'.  'Balance' is for to create another account in a different currency.  'Jar' is what I use to split off some EUR cash to budget for my next insurance bill.

 

To move some cash into one of the money-market funds & get interest on my EUR, I click on my main EUR account balance, then click on 'options'.  On the next menu, click 'earn' & I'm given the choice INTEREST or STOCKS or CASH.  I choose INTEREST to start the process and what I get at the end is another 'jar', except this one is for EUR which earns interest in the Blackrock fund.

 

Apologies for the long-winded reply!
 

 

Thanks, I actually opened an Euro account several months ago and have a small amount in there.

When I click on the balance, and then on the 3 dots in the top right corner, these are the options I get.

Am I missing something, so why don't I get the options you get?

 

image.png.913b2008afcc2a01ac50e77b37669faa.png

Posted
41 minutes ago, CallumWK said:

 

Thanks, I actually opened an Euro account several months ago and have a small amount in there.

When I click on the balance, and then on the 3 dots in the top right corner, these are the options I get.

Am I missing something, so why don't I get the options you get?

 

image.png.913b2008afcc2a01ac50e77b37669faa.png

 

My app may be different.

On the main EUR balance page exactly half way down the page, there is a horizontal bar with 2 options on it:   'TRANSACTIONS' and 'OPTIONS'.  Click on the 'OPTIONS' if you have it. Everything else follows from there.

 

Sorry I can't do a screenshot, which would make it a bit easier.

 

Posted
16 minutes ago, xllxix said:

 

My app may be different.

On the main EUR balance page exactly half way down the page, there is a horizontal bar with 2 options on it:   'TRANSACTIONS' and 'OPTIONS'.  Click on the 'OPTIONS' if you have it. Everything else follows from there.

 

Sorry I can't do a screenshot, which would make it a bit easier.

 

 

No such thing at all in my app, and I would think everyone has same app.

Why you can't make screenshots? Just swipe down the screen with 3 fingers

Posted
9 hours ago, CallumWK said:

It's not available to Belgians.

 

image.thumb.jpeg.10ab02866a6b5a770e1d1eab8a75e116.jpeg

 

Wise accounts are available to people in many different countries and the configurations ARE different.  Also, the app for people with iPhones is most likely different.  The PWA/webapp will also be different (curtailed).  You didn't specify what you were using.

That's why I said (repeatedly) that what you have available to you may be different.

 

Posted
10 hours ago, CallumWK said:

Why you can't make screenshots? Just swipe down the screen with 3 fingers

 

Why I cannot/will not do screenshots is none of your concern.  

 

Of course I know HOW to do screenshots.  Yet again you are making incorrect assumptions.  Swiping with 3 fingers is not universal, so why are you stating that it IS?

 

  • Sad 1
Posted
37 minutes ago, xllxix said:

 

Wise accounts are available to people in many different countries and the configurations ARE different.  Also, the app for people with iPhones is most likely different.  The PWA/webapp will also be different (curtailed).  You didn't specify what you were using.

That's why I said (repeatedly) that what you have available to you may be different.

 

 

Maybe you should learn to read. Yes accounts are available in many countries.

The interest and stock jars are only available in certain countries, as per Wise statement.

 

And don't bother replying because you are on my ignore list Nownow

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