New challenger W1TTY is a UK-based fintech company with international operations. Initially targeting students and other young people (generation Z). W1TTY now has an Electronic Money Institution (EMI) licence in the UK and EEA.
What is W1TTY?
W1TTY is a financial app that helps you manage your everyday spending, improve your financial knowledge and earn rewards at the same time. You can send money instantly to anyone using W1TTY, see and track your spending history and explore all of your app options via the dashboard. The app also has crypto capabilities.
How does it work?
W1TTY offers a choice of customised Visa debit cards and plans so that you can select the one that best suits you and only pay for what you need.
Full details of each plan have yet to be revealed, but we can tell you the following:
The Student + plan is designed for, you’ve guessed it, students. It offers giveaways, a range of benefits and extra money each month – W1TTY will pay eligible plan holders €2 a month.
The Every1 card gives you access to a free everyday account, with all of W1TTY’s features, cashback and spend and save options.
The Made to Measure card lets you personalise your account by choosing the features you need. You’ll also be able to enjoy more benefits such as unlimited cashback. This plan costs €3 a month.
You can earn 3% cashback every time you spend. The App allows you to make quick and easy transfers, and split bills with friends. There is also a program that actively rewards you when you use the app. You can complete different tasks and challenges each day to receive W1TTY points that you can exchange for prizes.
W1TTY also offers an Education Platform that aims to help you learn finance on the go through videos and podcasts. You can then compete with friends in quizzes to earn rewards. On top of this, W1TTY will also be offering a scholarship program in Lithuania, Poland and Portugal.
Further plans are due to be announced later down the line, with even more features.
How can I sign up?
To sign up, you’ll need to download the W1TTY app. Then you will need to submit your details and ID onto the app. You can then select your card and top it up.
Is it safe?
Because W1TTY holds an EMI licence, your funds will be held in a segregated account that is protected by safeguarding requirements under the Electronic Money Regulations 2011. This means that should W1TTY become insolvent, your funds will be protected against claims made by creditors.
W1TTY is not currently a licensed UK bank, so your money will not be covered by the Financial Services Compensation Scheme (FSCS). However, W1TTY plans to be fully regulated with a banking licence in the future.
Pros and cons of W1TTY
Pros
Variety of different plans allow you to choose the one that best suits your needs
Some plans have no monthly fee
Opportunity to earn 3% cashback every time you spend
Innovative features such as student scholarships and financial education
Cons
Fees apply to some plans
Customer service information for W1TTY
Email support
Telephone support
In-app or live chat
Contact form
Branch support
Our verdict
Offering a range of different plans for different needs, W1TTY has the potential to be a great (and fun) way for students and young people to learn more about finance and to get better at managing their money. And with new features and plans on the horizon, it could be one to watch over the next couple of years.
Frequently asked questions
The first card is issued free of charge. Replacements will be charged at €5 each.
You'll currently need to be an EEA or UK resident and over the age of 18.
To qualify, you must be planning to attend a 4-year program at an accredited university and be a resident of Lithuania, Poland or Portugal. Eventually, the program will be expanded to other countries.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio
Hargreaves Lansdown and Moneyfarm are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Moneyfarm vs Hargreaves Lansdown (HL).
Freetrade and Vanguard are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Vanguard vs Freetrade.
Trading 212 and XTB are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side XTB vs Trading 212.
Trading 212 and Moneybox are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Moneybox vs Trading 212.
Trading 212 and InvestEngine are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in InvestEngine vs Trading 212.
Find out how to spot some of the best day trading stocks available in the UK and abroad, along with tips for managing your investment portfolio on a day-to-day basis.
Vanguard and Wealthify are both investment platforms with a lot to offer. We compare their fees, features, account types and more – side by side in Wealthify vs Vanguard.
Robinhood and eToro are both investment platforms with a lot to offer. We compare their fees, features, account types and more – side by side in eToro vs Robinhood UK.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
