I know many people on here use Wise for either currency exchanges and/or holding money in a Wise account (as I do)

I have been using the Wise 'Cashback' service, but as interest rates are going down, I have been looking at their investment options - they offer Interest or Stocks options. Has anybody used these options, and has it worked out ok?

I invested a large amount of cash in the Wise Investment account which paid around (iirc) 4%. I closed the account last year to consolidate my savings. There were never any issues.

Steve

Thanks for your reply - can I ask, did they pay the 4% gross or net of tax?

No experience with either of these options from Wise* but I would imagine paid gross and declared on annual tax return as capital gains (not interest in the normal context) if resident in Spain. Also if someone who has completed Modelo 720 declaration it would likely trigger a new declaration when buy and sell for either option as assume the stocks are held outside Spain.

I recently considered N26 investment options as they have a Spanish banking licence, but the investments are held in Germany so would impact M720 declaration making it annual.

*and however low the risk capital at risk

It was paid Gross, I declared it and paid tax in Spain.

Steve

Thanks all. I have always got on well with Wise so maybe this is a good move.