Whether you’re looking for a new vacuum cleaner, package holiday, deal on your broadband or bank account there’s something you should always do before settling – compare what’s available!
Comparing vacuum cleaners is easy, every site you go on to buy something has a reviews section where people share how they like or dislike an item, there are sites just dedicated to reviews and you can look at the technical spec of something to do your own research. Package holidays are easy to search for, you chuck in your preferences and there are sites that will show you all the options available. If you’re looking for a deal on your broadband there are lots of comparison sites around which can tell you what is best in your area and the best value for money.
When it comes to financial products though there hasn’t really been anywhere you can go to get a good comparison and learn about your options, that was until Sortter was launched!
What is Sortter?
Sortter is a Finnish FinTech company established in 2018. They compare financial services, such as digital banks, crypto exchange platforms, money transfers, and investment apps in the same way other comparison sites do for car insurance or even hotels and flights for holidays. They can help you to compare financial products by taking into account the fees and banking terms and translating them into something that’s easy to understand. Their comparison algorithm is one of the most advanced you will find and can help you save money by comparing the transaction and deposit fees of various services. They only compare trustworthy companies that have a proven track record when it comes to security and best of all, it’s completely free to use!
What you can compare with Sortter
If you’re sending money to family overseas you want to make sure that you are doing it as cheaply and as fast as possible – you don’t want extra fees eating into your money. When you go through the preferences selection Sortter will then show you the best money transfer services and compare their platform (mobile and/or website), their transfer fee and how many countries they support.
Using a digital bank can mean there are lower fees than an average bank and sometimes a higher interest in savings. When you do the Sortter comparison for digital banks it will show you the platforms they are available on, their price (if there is a fee to open the account) and the features they have such as cash cards, different currency accounts and expense management.
When we look at investment apps we have a few more options to click through to find the best-tailored product. These options include what features are most important to us (low fees, educational resources for beginners, easy to use and advanced trading tools) we also get asked what we’d like to invest in, what currency and how we’d like to deposit money.
A feature I like on this comparison is that there is a little info box under each suggestion that gives you a little blurb saying if there is a history of high-risk loss with that provider. We also get to see what platform they are on, the fees they charge and what we can invest in with each broker.
The crypto comparison gives us the most option to click through before it tells us the best broker, which I think is really good as it means we’re getting a good well-rounded comparison. I was asked what’s most important to me (things like low cost, ease of use, real-time info) what currency I would be using, how much id deposit to open an account (because the can change the fees)and how frequently I plan to trade (basically, if I’m planning to play the market or just invest and let it sit). It then gives a breakdown of the platforms a broker is on, their trading fees, supported currencies and if they include a wallet.
If you click through on an option to see more info on it you will also get a breakdown of further points such as its fees, deposit types, its licences or regulations and a full write up on the product or business which I found to be very insightful.
I’ve not quite got to the investing stage of my financial journey yet but when I do I will definitely be using a site such as Sortter to compare my options, I like that it breaks it down into plain English and lays out the fees for me to see straight away so that I can make a fully educated decision.