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Earn 3.58% Return on USD and 3.35% Return on AUD @ Wise Interest (Investment Fund)

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Earn 3.58% Return on USD and 3.35% Return on AUD @ Wise Interest (Investment Fund)
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Wadiyatalkinabowt on 24/03/2025 - 11:12 wise.com (210 clicks)
Last edited 25/03/2025 - 09:12 by 2 other users

Of course this interest rate is well below other AUD savings-type offers, however for those who already use Wise or similar (for USD or AUD) then it could be worth turning on the 'investment' option.

Capital at risk, growth not guaranteed.

"Interest" is the name of a custody and nominee service provided by Wise Australia Investments Pty Ltd in partnership with Franklin Templeton. The funds aim to maximise current income through a portfolio of government-backed instruments. These include, for example, short-term Australian government fixed income securities and bank deposits. You may have to pay tax on your earnings — for example, capital gains tax.

  • Earn daily returns on your money. Brought to you by Wise Interest.
  • Earn an estimated return of 3.35% on AUD and 3.58% on USD after fees, just by turning Interest on. Your money will then be invested in a fund of government-backed securities, giving you returns with low risk.
  • There’s no minimum amount required to get started, and you can earn returns from day one.
  • Your money won’t be locked away, so you can continue to spend it like normal as it grows.
  • With Wise Interest, there’s no waiting for what’s yours. Any returns will be added to your invested balance or Jar each working day.

Legal documents(wise.com) including product disclosure statements.

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Referee receives a fee-free international money transfer for up to $1000, or a free VISA Debit card (Save $10). Referrer receives $150 for every 3 signups, who must all spend at least $300 each on qualifying payments.

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Comments

  • Jessie Ryder on 24/03/2025 - 11:13
    +1

    Am i missing something? this is a terrible deal at @3.35%

    • Wadiyatalkinabowt on 24/03/2025 - 11:33
      +11

      The point of sharing was for those who hold/use USD or [less likely] AUD in Wise, as it could be worth switching on the 'investment' option. It's clearly not the point to have it function as a traditional AUD savings and/or transaction account.

    • askbargain on 24/03/2025 - 11:47
      +1

      You're missing the 3.58% clearly stated before that for USD.

    • payton on 24/03/2025 - 15:39
      +2

      This isn't supposed to be your main savings account. Transaction accounts usually pay 0% interest, so Wise is doing one better than the rest by paying you 3.35%

      • ATangk on 24/03/2025 - 17:03
        +1

        I only know of macquarie bank that also pays interest in its transaction account. Checked its only 2.5% but better than 0.

        • payton on 24/03/2025 - 17:46

          Its nice also that MacQ saver does not require hoops each month to get the good rate.

          I would have moved all my daily banking there but it seems their NPP real time payments aren't universal, its not instant to anyone and everyone in Aust.

          This was 6 mths ago, dunno if things have changed

  • Jaduqimon on 24/03/2025 - 11:14
    -5

    isnt the savings rate like 5.1% at the moment with some banks?

  • awesomise on 24/03/2025 - 11:16
    +6

    This is not a deposit, this is an investment more atone to an ETF. From their own website:

    • Capital at risk, growth not guaranteed.
      Investments can fluctuate, and your capital is at risk. Interest is not a deposit product and your capital is not protected under the Financial Claims Scheme. The Variable rate is based on the Yield to Maturity as of 31/01/2025 and is exclusive of Wise fees. Past performance does not guarantee future growth. Franklin Templeton is the issuer and fund manager of the Franklin Templeton Cash Fund.
    • Jaduqimon on 24/03/2025 - 11:18
      +6

      so higher risk and lower returns than a savings account lol

    • Sr1993e on 24/03/2025 - 11:58

      Sorry I’m new to all these things but how is my capital at risk? Is there a chance I lose the money?

      • Flutterby on 24/03/2025 - 12:35
        +1

        "Is there a chance I lose the money?"

        Maybe revise the question a bit. Are you certain that your funds are safe?

        Edit, they are regulated by APRA as a providers of purchased payment facility, and is subject to capital requirement. (Not as onerous as what's applied to ADIs).

        Edit 2: this is a financial product and not a deposit (protected).

  • abs898 on 24/03/2025 - 11:17
    +4

    I don't know if many people actually keep funds in AUD, I personally use Wise to take advantage of currency fluctuation a few months before travelling.

    Sure, USD might be good for someone looking to either trade or constantly spend in that currency.

    • BatmanAU on 24/03/2025 - 11:30
      -1

      Same, who uses Wise for AUD lol

  • Sr1993e on 24/03/2025 - 11:58

    Guide me with this please, is there a chance I lose my money with this if I put it in my account? And is it paid out daily?

  • gadgetguy on 24/03/2025 - 12:09

    A bit niche but I am earning 7.3% on USD but overseas, with daily interest (compound ~ 7.5%).

    • Wadiyatalkinabowt on 24/03/2025 - 12:11

      Interesting! I was wondering what other options might be around.
      Do you have fairly ready access to your funds, like this Wise offering?
      Any chance you can share a link/info. please?

      • gadgetguy on 24/03/2025 - 12:18
        +2

        Unfortunately this is not readily accessible from Aus, hence the "niche" comment. Just really wanting to illustrate a comparison with Wise's rate.

        This is a bank in Cambodia - they actually offer up to 10% on a 5 year term deposit for USD. I'm sticking with the daily one though.

        https://www.pandabank.com.kh/personal/Account

        • Wadiyatalkinabowt on 24/03/2025 - 12:26
          +1

          Ah, I understand, definitely smashes Wise's interest rate.
          That is a great niche deal for you though.
          Thank you for the link.

  • doperst on 24/03/2025 - 13:15
    +6

    Not sure why all the downvotes. I receive payments in USD into my Wise account and often leave them there for a few days while waiting for a better exchange rate. This interest will at least help offset some of Wise's fees.

    • 6079 Smith on 24/03/2025 - 13:36
      +5

      I'm the same, often have a few k of AUD sitting there waiting to autoconvert then it sits as USD waiting to be paid off a credit card so this is is great. I get that's not what everyone does but it's much better than 0%

    • Plutolio on 24/03/2025 - 17:22
      +1

      Personally it’s because how many times they mention interest on that page as advertising but it’s not interest at all it’s an investment product with investment risk. If it was a true savings account I would have 0 issue with it, but because funds COULD be at risk and their frankly misleading advertising I’m not turning it on.

  • youngchinaman on 24/03/2025 - 15:41
    +1

    I like Wise and use it, but "Interest" is misleading.

    "Interest is the name of a custody and nominee service provided by Wise Australia Investments Pty Ltd in partnership with Franklin Templeton. The funds aim to maximise current income through a portfolio of government-backed instruments"

    This really takes advantage of those who read quickly and see the word "interest" and assume it's talking about the investment earnings and not referencing a name.

  • freedomofspeech on 25/03/2025 - 00:17

    Wants your TFN to be able to activate

    • Nom on 25/03/2025 - 07:29
      +2

      This is standard practice for financial products that generate income.

      • freedomofspeech on 25/03/2025 - 11:19

        No, usually they give you the option, NO TFN and just keep withholding tax

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