Wise Business
Enterprise payment software
Remittance & money transfer software
Accounting & finance software
- Features
- Ease of use
- Ease of management
- Quality of support
- Affordability
- Market presence
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- Information technology and software
What is Wise Business
Wise Business is a business account and international payments product that helps companies hold, send, and receive money in multiple currencies. It is used by SMBs and finance teams for cross-border supplier payments, customer collections, and employee/contractor payouts. The product provides local account details in supported currencies, batch payments, and API-based payment workflows, with pricing that is typically fee-based per transfer and FX conversion.
Multi-currency accounts and balances
Wise Business lets organizations hold and manage balances in multiple currencies within a single account. It provides local account details in certain regions (e.g., local routing/account identifiers) to receive domestic transfers where supported. This reduces the need to open separate bank accounts for each currency and can simplify treasury operations for internationally active SMBs.
Transparent cross-border transfer pricing
Wise Business generally itemizes fees for transfers and currency conversion, which supports cost attribution and reconciliation. For finance teams comparing cross-border payment options, this can make it easier to estimate landed payment costs per vendor or per invoice. The approach is well-suited to frequent, lower-to-mid value international payments where predictability matters.
Batch payments and API options
Wise Business supports bulk/batch payments for paying multiple recipients, which can streamline recurring payouts. It also offers API capabilities that enable integration into internal systems for automated payment initiation and status tracking. These features align with operational needs that sit between manual banking portals and full enterprise payment orchestration platforms.
Not a full ERP finance suite
Wise Business focuses on accounts, FX, and payments rather than end-to-end accounting. It does not replace core general ledger, AP automation, procurement, or expense management systems. Organizations typically still need separate software for invoice capture, approvals, and financial reporting.
Coverage varies by country
Availability of features such as local account details, supported currencies, and payment rails depends on the customer’s domicile and the destination corridor. Some regions may have limited payout methods or longer settlement times compared with domestic payment networks. This can create exceptions that require fallback to bank wires or alternative providers.
Enterprise controls can be limited
Compared with enterprise-grade payment platforms, Wise Business may offer fewer advanced controls for complex approval chains, granular policy enforcement, and multi-entity governance. Larger organizations may require deeper role-based access control, audit workflows, and centralized risk/compliance tooling. These gaps can matter for regulated industries or high-volume global payables.
Plan & Pricing
Pricing model: Pay-as-you-go Free tier/trial: Free account (no monthly subscription); no time-limited trial found Example costs (from Wise official pricing page):
- Register for a Wise Business account — Free.
- Sending money — Fee varies by currency; listed on site as "From 0.57%" (fee depends on currency corridor and payment method).
- Converting money — Fee varies by currency; "From 0.57%".
- Getting account details to receive in 24 currencies — $31 USD (one-time).
- Receiving USD wire / SWIFT payments — $6.11 USD (fixed fee per incoming payment).
- Receiving GBP SWIFT payments — £2.16 (fixed fee per incoming payment).
- Receiving EUR SWIFT payments — €2.39 (fixed fee per incoming payment).
- Receiving domestic (non-SWIFT/non-wire) payments in specified currencies (AUD, CAD, EUR, GBP, HUF, NZD, SGD, TRY, USD) — Free.
- Holding money in your account — Free.
- Spending with Wise Multi-Currency Card — Spending in the same currency in your account: Free.
- ATM withdrawals: Two or fewer withdrawals of up to $100 USD per month per account — Free. Over $100 USD per month per account: $1.50 USD per withdrawal plus 2% (per site breakdown).
- Topping up certain external e-wallets / accounts in some currencies — 2% (applies to specific transactions; see Wise FAQ for details).
Volume / discount notes: Volume discount applies when you send, spend or convert over $25,000 USD (or equivalent) in a month — discounts apply automatically for remainder of the month.
Notes & caveats: All fees vary by currency corridor and payment method; the official Wise Business pricing pages include detailed per-currency breakdowns and a fee calculator. This summary only lists the main, clearly-stated items available on the vendor's official pricing pages.
Seller details
Wise plc
London, United Kingdom
2011
Public
https://wise.com/
https://x.com/wise
https://www.linkedin.com/company/wise/
