Overview
Wise Business, at a glance.
Wise Business is an e-money institution headquartered in the United Kingdom, regulated by FCA, National Bank of Belgium, ASIC and 11 other regulators. The business account has no monthly fee. Opening an account takes 3–5 days.
Customer money is safeguarded and held with financial institutions, separate from Wise's own funds. Wise is not a bank.
Why businesses pick Wise Business
- No monthly fee
- Converts at the mid-market exchange rate, with the fee shown upfront
- Hold 40+ currencies, with account details in 22
- Sole traders, partnerships and limited companies can all apply
Watch out for
- £50 one-time fee to get account details
- Receiving a SWIFT payment costs £2.16 in GBP, €2.39 in EUR or $6.11 in USD
- Crypto, gambling, tobacco, alcohol and adult businesses are not supported
- Extra team cards cost £3 each
Business fit
Will Wise Business accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Wise Business's published rules
Needs review
Wise Business works with Freelancers, but does not publish the countries it accepts companies from.
Wise Business does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Wise Business publishes about the businesses it takes on.
Who Wise Business serves
- Freelancers
- Startups and SMEs
- E-commerce
Not supported
Industries and countries Wise Business does not accept, from its own published lists.
Industries
- Adult content
- Alcohol businesses
- Tobacco products
- Cannabis
- Certain controlled substances
- Drug paraphernalia
- Pharmaceuticals
- Chemicals
- Counterfeit or unauthorised goods
- Gambling
- Intellectual property infringement
- Binary options
- Escrow services
- Companies exchanging or trading cryptocurrencies
- Marketplaces from outside the EEA, EU or the United States
- Money service businesses
- Platforms for trading FX, CFDs or options
- Shell banks
- Superannuation funds
- Syndicates
- Trust and corporate service providers
- Unlicensed financial services
- IPTV and VOIP services
- Weaponry, military and semi-military goods and services
- Non-profit organisations and charities from outside its supported regions
- Trusts and foundations from outside its supported regions
- Trade of restricted or endangered animal species
- Multi-level marketing, pyramid schemes and get-rich-quick schemes
- UAE-based oil, gas and shipping companies
- Businesses linked to Cuba
- Surrogacy businesses
Countries
- Not published
Coverage
Where can you use Wise Business?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
40+ currencies
Hold 40+ currencies. Account details are available in 22, including GBP, EUR, USD, AUD, CAD, SGD, NZD and HUF.
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Sole traders and freelancers, Limited companies, Public companies, Partnerships
Pricing
What does Wise Business cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
£50
Monthly fee
Free
Wise Business
£0 per month
£50 setup · £50 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| SWIFT / international | £2.16 | Fixed fee · GBP; €2.39 for EUR and $6.11 for USD |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Virtual card issue | Free | No charge |
| Physical card issue | £3 | Fixed fee · First card free |
| Delivery | Free | No charge |
| Express delivery | From £10.85 | Fixed fee |
| ATM withdrawal | 2.69% | Percentage of the amount · Free up to £250 a month |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Create the account
Enter the business's country and legal form.
- 2
Business details
What the business does and where it operates.
- 3
Verification
Directors and owners of 25% or more are verified.
- 4
Account live
Pay the one-time fee to get your account details.
Documents you need
- Business registration details
- Business operating address evidence
- Director and beneficial-owner identity details
- Ownership and control information
FAQ
Your questions, answered.
Is Wise a bank?
No. Wise Payments Limited is an e-money institution authorised by the UK FCA, reference number 900507. Customer money is safeguarded.
How much does Wise Business cost?
There is no monthly fee. A one-time £50 fee unlocks account details. Conversions use the mid-market rate plus a variable fee shown before you pay. Receiving a SWIFT payment costs £2.16 in GBP.
Which businesses does Wise not accept?
Its acceptable use policy excludes adult content, alcohol, tobacco, cannabis, gambling, pharmaceuticals, weapons, crypto exchanges, money service businesses, binary options and multi-level marketing, among others.
Does Wise Business offer cards?
Yes. The first card is free and further team cards cost £3 each. Cash withdrawals are free up to £250 a month, then 2.69%.
Can sole traders open a Wise Business account?
Yes. Sole traders and freelancers, limited companies, public companies and partnerships can apply.
Where is Wise licensed?
Wise holds licences or registrations in the UK, Belgium, the United States, Canada, Australia, Singapore, Hong Kong, Japan, Brazil, the UAE and several other countries.
Alternatives
How Wise Business compares.
If Wise Business is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 Wise BusinessThis pageE-money institution |      +9 | Mid-market FXLocal account details |
 Revolut BusinessBank |  | Cards and spend controlsStartups and SMEs |
 AirwallexE-money institution |  | Global accountsOnline businesses |
 WorldFirstE-money institution | | Marketplace sellersTrade payments |
 PayoneerE-money institution |   | Marketplace payoutsMass payments |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.