See how Wise Business works for international payments, its fees, debit cards, and accounting integrations, plus who it is best suited for.
Wise Business is the business account product from Wise, a fintech company originally founded as TransferWise in London in January 2011 by Kristo Kaarmann and Taavet Hinrikus, and rebranded to Wise in 2021. The company is headquartered in London and today operates as a large, publicly listed company.
Wise Business is built for startups, scale-ups, freelancers, and small to mid-sized businesses that need to send, receive, hold, and spend money across multiple currencies without relying on a traditional bank account for every market.
The product is reportedly used by more than 700,000 businesses worldwide, processing roughly 14 billion euros in payments each month, built on Wise's core promise of transferring money at the real mid-market exchange rate with transparent fees.
Businesses can hold balances in over 20 currencies and receive payments using local account details in multiple countries, avoiding the need to open separate local bank accounts. Transfers are fast, with roughly 70 percent arriving within 20 seconds and 95 percent within 24 hours.
Wise Business supports batch payments to up to 1,000 contacts at once, useful for payroll or supplier payments, and issues physical and digital debit cards usable for spending in 231 countries, giving teams direct control over company spend.
The platform integrates with accounting software for streamlined reconciliation, offers team management tools with configurable spending permissions, and lets eligible businesses earn interest on idle balances through Wise Assets Europe.
Wise Business does not charge a recurring monthly subscription fee. Instead, businesses pay a one-time account opening fee of around 60 euros or the local currency equivalent.
Transfer costs are built into the exchange process using the mid-market rate with transparent, published fees rather than hidden markups on the exchange rate.
Businesses transferring more than roughly 20,000 euros equivalent per month can qualify for volume discounts on transfer fees, making the account more cost-effective as international payment volume grows.
Wise Business is an international multi-currency business account for sending, receiving, and spending money across borders at the mid-market exchange rate.
Wise Business charges a one-time account opening fee of around 60 euros or local equivalent, with no recurring monthly subscription, plus per-transfer fees.
Wise Business functions as a multi-currency account rather than a traditional bank account, and does not offer overdrafts or lending.
Roughly 70 percent of transfers arrive within 20 seconds and 95 percent within 24 hours.
Yes, Wise Business issues physical and digital debit cards usable for spending in 231 countries.
Yes, Wise Business connects with popular accounting software to streamline reconciliation and reporting.
Wise Business is available to businesses in a large number of countries, though specific eligibility varies by region.
Wise was originally founded as TransferWise in 2011 and rebranded to Wise in 2021.