What are the differences between the banking options supported by Xolo Leap?

Last updated: April 01, 2021

Your Xolo Leap account works with an LHV business bank account and the Wise multi-currency account. We offer support with the LHV "Know your customer" process — including pre-filled application forms, pre-acceptance for a bank account before travelling, and uploading documentation about your personal data. For more details and differences between the banking options supported, please see the table below:


Wise multi-currency account
Account typeElectronic Money account (i)Business bank account
Guarantees on depositsNot applicable
Deposits are not covered by FSCS, any guarantee fund or compensation scheme
€100 000
Estonian state-backed guarantee of €100 000 on all deposits
Supported currenciesMulti-currency account
Over 50 different currencies supported

Send money to 80+ countries

Local account details provided for
Multi-currency account
15 different currencies supported

International bank transfers via SWIFTYesYes
Availability for Xolo Leap customersE-residents globallyE-residents globally
Customers currently not supportedUS residents from the states not listed on Wise website

FATF high-risk and non-cooperative jurisdictions
FATF high-risk and non cooperative jurisdictions
Remote online onboardingYesNo. Visit to Estonia required for a F2F bank meeting
Xolo Leap supported onboarding & KYCNo
A separate KYC process designed by Wise, no onboarding integration with Xolo Leap 
Integrated KYC process - pre-filled application forms, digital signing & pre-acceptance for a bank account before traveling 
Integration with Xolo LeapSeamless API integration - automatic sync of transactions and account balanceSeamless API integration - automatic sync of transactions and account balance
Mobile appYes
Mobile app for transferring money
Fully functional mobile banking application
Monthly feeNo setup cost
No monthly fee
Hold more than €70,000 in EUR balance - 0.40% annually fee
Get bank details to receive currencies - £16 (one-time fee)
€100 setup fee and €10 monthly fee starting from 01.11.2018
-50% discount from LHV's regular price list for Xolo Leap customers
Bank cardsWise Business Debit Mastercard€2 per month
LHV Business Debit Mastercard
Online purchases supported
Top up of the accountFree via bank transfer
Charges when adding by card
Free via bank transfer
Withdraw to bankA fixed chargeNot applicable
Account limits for transactionsLimits to USD transactions applyAdjustable, depending on your agreement terms
Support for payment gatewaysPayPal Business - Not recommended
Stripe - Yes
PayPal Business - Yes
Stripe - Yes
Other benefits & featuresWise has gained access to the UK Faster Payments Service (FPS). Switch between currencies & make payments at the best possible rate. No setup or monthly charges Instant local bank details in the UK, US Australia and the Eurozone:
GBP - Acc. No & Sort Code
USD - ABA & Acc. No
AUD - Acc. No & BSB code
NZD - Acc. No
SGD - Acc. No
HUF - Acc. No
International payments also available with currency exchange through Wise Secure online banking.
Fixed-term and demand deposits
Free of charge SEPA payments, deposits and reasonable withdrawals
SourceWise multi-currency accountLHV Bank
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