Ulster Bank and Wise both offer a range of business banking options. But which is better?
Below we compare Ulster Bank vs Wise on 61 different metrics including business savings account rates, current account fees, Trustpilot reviews and many, many more so you can decide for yourself.
Ulster Bank vs Wise Business Savings Accounts Comparison
| Ulster Bank | Wise | |
| Types of Savings Accounts | Instant Access, 1 week to 1 year fixed term accounts | Instant Access GBP, USD & EUR Accounts |
| Lowest Savings Rate | 1.36% | 4.54% |
| Maximum Savings Rate | 1.81% | 4.54% |
| Minimum Investment Amount | £0 | £1 |
| Website | Ulster Bank Website | Wise Website |
- Earn 2.25%-3.51% AER.
- Interest paid daily on both work and non-work days
- Add or withdraw money with zero restrictions 24/7
- Earn 3.55% AER (variable)
- Instant access to your money when needed
- No limits or fees on withdrawals
- Earn 3.66% – 4.51% AER.
- Offers a choice of easy access or fixed-term accounts.
- Average independent review score of 4.7 out of 5.
Ulster Bank vs Wise Free Business Bank Accounts
Below we look at the free business bank account options Ulster Bank and Wise each offer.
Ulster Bank | Wise | |
| Free Business Bank Account? | Yes | No |
| Free Business Account Term Length | 24 months | NA |
- Free version available forever
- Hold and exchange 25+ currencies
- IBANs for Global Transfers
- Ability to invest through your account
- Mobile business account, accessible online and on desktop 24/7
- No Monthly Fee
- 24/7 Online banking & Bank app
- Friendly UK phone support
- Xero, Quickbooks & Sage accounting software integration
- FSCS Protected up to £85k
- Basic account is free forever
- Up to £150,000 of credit, straight through the app
- Business Mastercard, with free purchases at home and abroad
- Trusted by 500,000+ UK businesses
- FSCS protected up to £85,000 via Clearbank
Ulster Bank vs Wise Fees & Pricing
Ulster Bank | Wise | |
| Cheapest Monthly Account Fee | £8 | £9 |
| Most Expensive Monthly Account Fee | £12 | £9 |
| Electronic Payments (in/out) | 0.51 | free |
| Cash Payments (in/out) | £1.50 | free |
| Cheques (in/out) | £0.30 / £1.50 | not accept cheques |
| Debit Card Payments | Yes | No |
| CHAPS Payments | £18.75 | £25 |
| SEPA Payments | 0.51 | free |
Ulster Bank vs Wise Account Types
Below we look at the different types of business bank accounts and other types of business finance solutions Ulster Bank and Wise offer.
| Ulster Bank | Wise | |
| Current Account Switch Service | Yes | No |
| Type of Card (Mastercard vs VISA) | Mastercard | Mastercard |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | No |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | No |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In person/Branch Banking | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Services | Yes | No |
| Free Accouting Software | Yes, FreeAgent | No |
Ulster Bank vs Wise Foreign Currency Accounts
In this section we look at what types of foreign currency accounts each bank offers.
| Ulster Bank | Wise | |
| US Dollar (USD) Bank Account | Yes | Yes |
| Euro (EUR) Bank Account | Yes | Yes |
| Other Currencies Available | Swiss franc,Japanese yen,Australian dollar,Canadian dollar,New Zealand dollar,Swedish krona | AUD – Australian dollar, BGN – Bulgarian lev, BRL – Brazilian real, CAD – Canadian dollar, CHF – Swiss franc, CZK – Czech koruna, DKK – Danish krone, EUR – Euro, GBP – British pound, HKD – Hong Kong dollar, HUF – Hungarian forint, IDR – Indonesian rupiah, INR – Indian rupee, JPY – Japanese yen, MYR – Malaysian ringgit, NOK – Norwegian krone, NZD – New Zealand dollar, PLN – Polish złoty, RON – Romanian leu, SEK – Swedish krona, SGD – Singapore dollar, |
Ulster Bank vs Wise User Reviews
| Ulster Bank | Wise | |
| Trustpilot Score (out of 5) | 1.5 | 4.3 |
| Number of Trustpilot Reviews | 50 | 193215 |
| iPhone App Score | 4.8 | 4.6 |
| Number iPhone of Reviews | 10992 | 29.4K |
| Android App Score | 4.1 | 4.8 |
| Number of Android App Reviews | 12.1K | 486K |
Ulster Bank vs Wise Banking Service Quality
Data for this section comes from the BVA BDRC Business banking service quality report.
| Ulster Bank | Wise | |
| Overall Service Quality Ranking | Not Rated | Not Rated |
| Overall Service Quality Score | Not Rated | Not Rated |
| Online And Mobile Banking Services Ranking | Not Rated | Not Rated |
| Online And Mobile Banking Services Score | Not Rated | Not Rated |
| SME overdraft and loan services Ranking | Not Rated | Not Rated |
| SME overdraft and loan services Score | Not Rated | Not Rated |
| Relationship/account management Ranking | Not Rated | Not Rated |
| Relationship/account management Score | Not Rated | Not Rated |
| Service in branches and business centres Ranking | Not Rated | Not Rated |
| Service in branches and business centres Score | Not Rated | Not Rated |
Ulster Bank vs Wise Overview
Here is some other key data about each bank.
| Ulster Bank | Wise | |
| FSCS Protection | Yes, up to £85,000 | No, unless money is held in assets |
| Market Share | No Data | 2.29% |
| Bank Type | High Street | Challenger |
| Total Assets | £0.0272 billion GBP | £11.5 billion GBP |
| Swift/BIC Code | ULSBGB2B | TRWIGB2L XXX |
| FCA Number | 121878 | 900507 |
| Company Number | 1897673 | 7209813 |
| Business Customer Phone Number | 0345 742 4365 | Unknown |
More Business Banking Comparisons
Ulster Bank vs Monzo
Ulster Bank vs Virgin Money
Ulster Bank vs Allied Irish Bank
Ulster Bank vs PayPal Debit
Ulster Bank vs Anna