Home Accounting & FinanceWise Business

Wise Business

Accounting & Finance

3.7(25 ratings)

Streamline your business finances with Wise Business, the smart way to manage international payments.

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About Wise Business

Best for businesses making frequent low-cost international payments.

Wise Business (formerly TransferWise for Business) provides multi-currency accounts and low-cost international money transfers tailored for businesses. It allows companies to hold, send, and receive money in over 40 currencies using the mid-market exchange rate, avoiding the hidden markups traditional banks typically charge. The platform is particularly well-suited for small to medium-sized businesses, freelancers, and startups that deal with international clients, suppliers, or remote teams. While it's not a full accounting suite, it serves as a powerful financial tool for managing cross-border payments efficiently and transparently.

Pros

Very low fees on international transfers
Uses real mid-market exchange rate transparently
Hold and manage over 40 currencies easily
Local bank details in multiple countries included
Fast setup with intuitive user-friendly interface

Cons

Not a full accounting or bookkeeping platform
Limited lending or credit facilities available
Cash deposits and checks are not supported
Customer support can be slow during peak times

Use Cases

Best for paying international suppliers and contractors in their local currency

Best for receiving payments from global clients without costly conversion fees

Best for managing payroll for distributed remote teams across multiple countries

Best for freelancers and agencies invoicing international clients regularly

Key Features

5 features

Multi-currency account management

Real-time currency conversion rates

Batch payments for multiple invoices

Automated payment tracking and notifications

Integration with accounting software

SaasHunter Score

7.8/10

“Pick Wise Business when you have a tight budget and need efficient international payment management for a small team.”

Ease of Use

8.0

Features

7.0

Pricing

9.0

Support

7.0

Integrations

8.0

Best For

Small Business 9Startups 8Freelancers 8Agencies 7Enterprise 7

Integrations

XeroQuickBooksZapierFreshBooksSlackAmazonShopify

International Transfers Payment Automation Payment Processing

Frequently Asked Questions

What is Wise Business?

Wise Business is a financial platform that offers multi-currency accounts and low-cost international money transfers for businesses. It uses the real mid-market exchange rate, helping companies avoid hidden bank fees on cross-border transactions.

How much does Wise Business cost?

Opening a Wise Business account typically costs a one-time fee (around $31 USD depending on region), with no monthly subscription. Transfer fees vary by currency and amount but are transparent and generally much lower than traditional banks.

What are the main features of Wise Business?

Key features include multi-currency accounts in 40+ currencies, batch payments for paying multiple recipients, local bank details in major markets like the US, UK, and EU, and integrations with popular accounting software like Xero and QuickBooks.

Who should use Wise Business?

It's ideal for small to medium-sized businesses, freelancers, and startups that regularly send or receive international payments. Companies with global suppliers, remote teams, or international clients will benefit most.

Is there a free plan for Wise Business?

There is no monthly subscription fee, but there is a one-time account opening fee. Transfers and currency conversions carry small, transparent fees that are shown upfront before each transaction.