Wise Group plc: US national trust bank charter declined: moving on, no impact on business

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Wise Group plc: US national trust bank charter declined: moving on, no impact on business

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Wise Group plc

US national trust bank charter declined:

moving on, no impact on business

Reiterate Rating: BUY | PO: 16.40 USD | Price: 11.33 USD

US bank charter denied.. but no impact on the business 24 July 2026

Wise shares are down 5.4% today on the news that the US Office of the Comptroller of Equity

the Currency (OCC) has declined Wise's application for a national trust bank charter.

Frederic Boulan, CFA >>

Wise says the decision reflects "historical issues" with the original application (submitted Research Analyst

over a year ago), points to a July 2025 Multi-State Consent Order, and notes its original MLI (UK) +44 20 7995 7101

plan, direct access to a Federal Reserve master account, had become "non-viable" after frederic.boulan@bofa.com

the Fed paused account access for uninsured trust banks. Crucially, the decision does not Aditya Buddhavarapu, CFA >>

affect normal US operations under existing money transmitter licences (48 states, four Research Analyst MLI (UK)

territories) or its 80+ licences globally, and Wise intends to re-file under the GENIUS Act +44 20 7995 7318

framework in due course. Although the decision is not helpful, it does not change Wise’s aditya.buddhavarapu@bofa.com

competitive positioning in the US market of beyond, in our view. Reiterate Buy rating. CarlaResearchCourthialAnalyst >>

MLI (UK)

Reiterate Buy, PO unchanged $16.4. Operations unaffected 44carla.courthial@bofa.com77 6120 0059

We reiterate our Buy rating on Wise. We see Wise as a structural winner in cross-border Victor Cheng, CFA >>

payments with a competitive moat underpinned by its scalable infrastructure and Research Analyst

modern tech stack.