Wise (TransferWise) for Business review

Low-fee one-off transfers and multi-currency accounts change the game for your international enterprise.

The online money transfer specialist Wise extends its already competitive rates and low fees into businesses with a suite of services for borderless enterprises. Its easily executable payouts API can help your business with one-off transfers, batch payments and manage currencies to get paid and satisfy suppliers and contractors.

Within minutes

Fastest Transfer Speed


Minimum Transfer Amount


Maximum Transfer Amount

Our Verdict

Wise business could be a game changer for your business. The mid-market rate is what you’ll be after to move money overseas and that’s exactly what you’ll get with Wise. You’ll pay a transfer fee but these are low compared to others plus there’s a high daily sending limit.

This multi currency account acts like a local bank in up to 15 countries so you can pay or get paid like a “local.” Although there’s a one-off set up fee, there’s no monthly subscription fees. And you’ll be able to send one-off transfers, batch payments and manage a range of currencies.

The only stumbling block is that your global contractors and suppliers can only receive bank transfers as no other options are available.

Get a fair rate with Wise

Wise didn’t build its business by adding large spreads on exchange rates. Instead, it offers the mid-market exchange rate to all of its customers — personal or business. That means your money’s exchanged at the rate most banks and other money transfer providers use when they trade among themselves.

With some currencies, you’re guaranteed a rate that stays in place until a specified time. With other currencies, you set a rate limit as a safeguard against downward rate fluctuations.

How much will my business pay to send a money transfer with Wise?

Wise offers businesses the same type of one-off transfers it offers individual customers: transfers that come with a variable percentage that depends on where you’re sending your money. Typical costs to be aware of when using Wise for business include:

  • A variable fee to send a money transfer, dependent on the currency and the amount being sent
  • A one-time £16 set up fee to access the Wise Business multi-currency bank details in up to 8 currencies that will allow you to be paid like a “local”

Calculate your fees and exchange rates with Wise for Business

1 - 1 of 1
Name Product Filter values Fastest transfer speed Fees (pay by bank transfer) Learn more
Wise (TransferWise) Business
Within minutes
From 0.41%

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.

Can my business use Wise’s multi-currency bank details?

If you regularly receive payments from overseas, you could benefit from Wise’s multi-currency banking. For a one-off fee of £16, you will be provided with local bank accounts in the following 8 currencies to pay or get paid as a “local.”:

  • GBP. Pound sterling
  • EUR. Euro
  • HUF. Hungarian forint
  • USD. US dollar
  • RON. Romanian leu
  • SGD. Singaporean dollar
  • AUD. Australian dollar
  • NZD. New Zealand dollar

Having these local bank details can change the way you do international business and protect your international profits when sending and receiving money.

Pros and cons of using Wise for Business


  • Competitive mid-market rate. You won’t find a better rate than the mid-market rate.
  • No maintenance fees. Your business account is free unless you choose to access the bank accounts in 8 currencies (£16 one-off setup fee)
  • Acts like a local bank account. With the Wise multi-currency banking, you can bank like a “local.”
  • Fee per transfer. Pay a low fee for each transfer.
  • Make batch payments. Pay up to 1,000 people in one go.
  • Manage multiple currencies. Hold funds in more than 50 currencies, moving it among currencies when you feel the rates are right for a small fee.
  • Send money across the world. Use the money in your Wise business account to send to over 80 countries.


  • Bank account transfers only. You can transfer to bank accounts only, with no option for cash pickups.
  • Limited currencies and countries. Until services expand, confirm your business needs are covered.

How do I make transfers with Wise Business?

To conduct your international business through Wise, you’ll first need to:

  • Register your business. Provide your business name and address, your registration number and your role in the company. Wise verifies your details before activating your account.
  • Add your interested currencies and countries. Wise provides you with banking details for each country you conduct business in.
  • Send or receive payments. Use your unique bank account details in place of your usual account to centralise payments to and from customers, clients, suppliers and more. You pay only when you convert this money to your native account or currency.

What do I need to transfer money using Wise?

To make an international transfer with Wise, you will need:

  • Your name, address, phone number and email address
  • Your date of birth
  • Your bank account or credit card information
  • The full name, address and email address of the recipient
  • Your recipient’s International Bank Account Number (IBAN)

How do I make a business money transfer with Wise?

  1. Go to the Wise website. Click on the “Business” tab.
  2. Sign up for an account. Add your email address or connect with Facebook, Apple or Google+.
  3. Enter your business details. Enter details about your business such as its name and the industry it’s in. You’ll also need to include your personal details such as your name, date of birth and address.
  4. Choose who you are sending money to. You can send money to another account you own with just an IBAN. For an account owned by another person, charity or business abroad, enter their email, full name, address and IBAN. Then click “Continue.”
  5. Verify yourself and your business. You may need to provide proof of your identity and your business but Wise will keep you in the loop about what is required.
  6. Confirm the details of your transfer. Confirm the recipient details, amounts, and fee, then click “Confirm.”
  7. Pay for your transfer. Confirm any fees and estimated date of arrival before paying for the transfer.

What happens next?

  • Manage your international payments. You can track payments, export statements, receive wages in specific currencies and more through your account.
  • Get support. Sign in to your Wise Business account to live chat with a representative and research your queries.
  • Download the free app. Track your transfers on the go with the Wise app, available in the App Store and on Google Play.

What other products does Wise offer?

Wise offers personal, business and e-commerce accounts. Read our reviews on each to learn how to get started.

Bottom line

The dependable Wise provides borderless businesses with an easy way to settle up with suppliers, contractors, employees and more through “local” accounts at some of the strongest rates you’ll find. If you’re unsure if it’s right for your needs, compare your other business transfer options.

Frequently Asked Questions

Which local bank details can I access from Wise Business?

By paying a one-off setup fee of £16, you can access local bank details in the following currencies:

  • GBP. Pound sterling
  • EUR. Euro
  • HUF. Hungarian forint
  • USD. US dollar
  • RON. Romanian leu
  • SGD. Singaporean dollar
  • AUD. Australian dollar
  • NZD. New Zealand dollar

Are there any restrictions on Wise business transfers?

Wise is able to make business transfers in many of its supported countries but there are restrictions on some of them. To check on any country-specific restrictions that could affect your business transfer, visit the Wise website or contact Wise through online chat.

Back to top

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site