Your TransferWise multi-currency account is an electronic money account. It's different from a bank account because:
The main benefit of using your TransferWise account over traditional accounts is that you won’t be charged international transaction fees or outrageous exchange rates.
You can send, receive and convert currencies all in one account. You’ll always get the real exchange rate and the lowest possible fees.
You can also spend the money in your balances around the world with your TransferWise debit Mastercard.