When deciding between Wise and Anna, it’s important to evaluate which features best align with your financial needs.
This comparison will highlight key differences, from mobile banking capabilities to specific benefits, helping you make an informed choice.
Wise
Anna
How do Wise and Anna compare?
Wise and Anna are two modern mobile banking solutions that offer unique services targeting different user needs. Both provide convenience, speed, and user-friendly interfaces, which are essential in the digital banking era.
Wise, originally established as a money transfer service, has evolved into a comprehensive financial solution for international customers. It allows users to hold, send, and receive money in more than 40 currencies at the real exchange rate, generally offering lower fees compared to traditional banks. Wise also provides a multi-currency debit card that works without any foreign exchange fees, making it an attractive option for frequent travelers or people living abroad. Additionally, Wise offers local bank details in several countries, facilitating the process of receiving payments from abroad.
Anna (Absolutely No-Nonsense Admin), on the other hand, primarily serves small businesses and freelancers in the UK. It excels in combining banking with admin solutions, aiming to save time and effort for its clients. Anna provides a current account and a debit card, but its distinguishing feature is its additional administrative functions. For example, it can handle invoicing, tax reminders, expense management, and even chasing late payments. Its app uses AI technology to assist businesses in managing finance-related administrative tasks, which is particularly beneficial for those without a dedicated finance team.
While Wise is better suited for personal international banking and money transfer needs, Anna caters to small businesses and entrepreneurs with its blend of banking and business admin services. Both challenge traditional banking models, yet their specific offerings and target audiences make them suitable for different customer needs.
Founded: 2011
Headquarters: London, UK
Users: +16 million
Countries available: 56
Account plans: multi-currency accounts
Go to Wise
Founded: 2018
Headquarters: London, UK
Users: +100,000 thousand
Countries available: United Kingdom
Account plans: 3 plan options
Go to Anna
Other comparisons about Wise and Anna
Why use a digital bank?
Affordable fees and attractive pricing
With their digital-first approach and reduced operating costs, neobanks often offer highly competitive fees compared to traditional banks. Many neobanks minimize or eliminate fees for services like account maintenance and transactions, and some even provide enhanced interest rates on savings and loans. This cost-efficiency appeals to individuals and businesses focused on maximizing financial value without the typical expenses of traditional banking.
Quick account setup and hassle-free onboarding
Opening an account with a traditional bank is often a slow, paperwork-heavy process. Neobanks streamline this experience by using technology to offer a quick, fully online onboarding. Some even provide instant approval, allowing users to start banking within minutes. This efficiency and ease make neobanks an attractive option for people who want fast, paperless access to financial services.
Intuitive design for easy navigation
Neobanks offer highly accessible, user-friendly mobile apps designed for a smooth, modern banking experience. Unlike traditional banks, which rely on complex processes and paperwork, neobanks provide a streamlined interface where users can manage finances, track transactions in real-time, and set up alerts with ease. This straightforward, app-based experience appeals to tech-savvy users and businesses alike, offering a practical solution for efficient financial management.
Advanced budgeting and financial tracking tools
Neobanks often come equipped with advanced financial tools built right into their apps, giving users insights into spending patterns, budgeting help, and real-time transaction categorization. For businesses, this translates into improved financial control and clear visibility over cash flow. With features like expense tracking and financial analysis, neobanks empower individuals and businesses to make informed, data-driven financial decisions, setting them apart with their strong focus on financial management.
Responsive support and community involvement
Neobanks focus on customer satisfaction with quick, accessible support through multiple channels like in-app chat, email, and even social media. Traditional banks can sometimes have slower, more bureaucratic service, but neobanks use technology to deliver faster, more tailored responses. Many also build a sense of community through online forums and events where users can exchange tips and insights, fostering a collaborative approach to banking.