Wise has introduced a first-of-its-kind multi-currency Interest feature for customers in Canada. This move will allow eligible users to earn market-leading returns on balances held in Canadian dollars, US dollars, Euros, and British pounds, all within a single Wise multi-currency account without needing to open separate accounts with different financial providers for each currency.
Once opted into the multi-currency Interest feature, customers continue to hold, spend, send, and convert their money internationally from those balances with no penalties, no minimum balance requirements, and no lock-up periods. The rates individuals can earn as part of this feature include 2.22% on Canadian dollar balances, 3.14% on US dollar balances, 0.8% on Euro balances, an 2.21% on British pound balances. The feature can be activated in just a few taps within the Wise app, and it builds on the company's growing momentum in Canada, where its active customer base grew by more than 30% in fiscal year 2025. This growth is supported by Wise becoming a member of Payments Canada to gain direct access to local payment infrastructure for faster and cheaper money movement.
Multi-Currency Interest Features
Wise Debuts New Interest Feature for Canadian Customers
Trend Themes
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Multi-currency Savings — Customers holding pooled balances across multiple fiat currencies within a single account enables novel deposit products that compete with traditional domestic savings accounts on yield and convenience.
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Embedded Interest — Interest-bearing capabilities built directly into transactional wallets create potential for financial products that blur the line between checking and investing without requiring separate accounts or lockups.
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Real-time Local Settlement — Direct membership in domestic payment networks that accelerates and reduces the cost of cross-border flows paves the way for services that combine low-friction FX, settlement and yield in one offering.
Industry Implications
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Retail Banking — Traditional banks face pressure from digital-first providers offering higher-yield multi-currency deposits that could erode core deposit bases and margin structures.
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Cross-border Payments — Payment firms that integrate local clearing and FX with interest accrual open opportunities to provide bundled remittance, conversion and savings experiences for migrant and international customer segments.
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Fintech Infrastructure — Providers of payment rails, custody and yield engines can enable startups to launch composable finance products that mix settlement, FX and deposit-like returns without full banking charters.