Wise Business Account Review [2025]: Features, Fees & Support

Strong for cross-border payments, but no credit, lending, or cash deposit features.

Wise Business, offered by Wise (formerly TransferWise), is a multi-currency account tailored for freelancers, startups, and small teams handling international transactions. It’s quick to set up, supports over 40 currencies, and offers local account details in 23 of them, making it a solid option for global payments. With no monthly fees and competitive FX rates, it’s a cost-effective solution for businesses with cross-border needs.

What stood out is how well Wise delivers on its core purpose. Tools like batch payments, accounting integrations, and access to mid-market exchange rates are genuinely useful for managing international flows. The entire onboarding process is online, and the platform is available in most major markets, which makes it easy to access regardless of where your business is based.

However, Wise doesn’t offer full-service banking. There’s no support for cash or cheque deposits, no credit or lending options, and customer support isn’t always reliable. Some features, like cards and investment tools, are also limited by region. 

Overall, Wise works well if your focus is purely on global transactions, but if you need more advanced tools or dedicated support, you should consider opening a secondary account with other providers, too. 

Key Highlights

• Multi-currency account with local details in 23 currencies
• Send payments to 70+ countries with low, transparent fees
• Batch payments via CSV for bulk transfers
• Integrations with Xero, QuickBooks, and FreeAgent
• 0.5% cashback on Wise debit cards (where available)
• No monthly fees; £45 one-time setup cost

Wise Business is a virtual multi-currency account designed for global transactions. You can hold and exchange over 40 different currencies and get local account details in major ones like GBP, EUR, USD, AUD, and SGD, which is ideal if you're working with international clients or suppliers.

Since Wise offers services worldwide, the availability of some features and supported currencies varies depending on the service location as well. For businesses in the United Kingdom, the key features include:

• Sending payments to 70+ countries in 50+ currencies, including GBP, USD, EUR, HKD, SGD, AUD, NZD and JPY (some restrictions apply for businesses).
• Mid-market FX rates with transparent fees.
• Receive Amazon payouts in 9 currencies with no fees—Wise is part of Amazon’s Payment Service Provider Programme.
• Batch payments via CSV—handy for payroll or contractor payouts.
• Custom user access controls to manage teams securely.
• Integration with Xero, QuickBooks, and FreeAgent for bookkeeping.
• Virtual and physical debit cards with 0.5% cashback and no foreign transaction fees (FX conversion still applies). 

Some features, like interest-earning balances or investment options, are only available to account holders in the UK and EEA, so not everyone gets the full suite.

It’s also worth noting that Wise doesn’t automatically send you a business debit card—you’ll need to order it through the app. Even then, the physical card is only available in select countries. The UK is included, but overall availability is limited compared to other providers that ship cards by default.

Our Verdict: 8.5/10

Wise is best known for its international money transfer service, and it doesn’t disappoint with its business account offering. The multi-currency support and global transfer capabilities are solid, and on top of that, you get useful tools like batch payments and accounting integrations. That said, it’s not perfect. Some features are available to only some regions, and it lacks more advanced banking functions, so it won’t suit every business. But if your priority is sending and receiving payments across borders, it’s a practical and well-priced option.

Like its features, Wise Business’s fees vary by country. Here’s how the pricing works for businesses based in the UK.

The first card on your Wise Business account is free with no ongoing subscription fee. If you need additional cards for your team members, there’s a one-time charge of £3 per card. Keep in mind that a 2% fee also applies to account funding transactions, like topping up e-wallets or sending money to certain accounts in specific currencies. Additionally, a currency conversion fee starting from 0.33% applies when exchanging between currencies.

Another fee that I think we should point out is the ATM withdrawal fee. Wise lets you withdraw up to £200 per month for free (up to 2 withdrawals). After that, a fee of £0.50 per withdrawal applies, plus a 1.75% charge on amounts above the £200 monthly limit.

Our Verdict 7.5/10

Wise offers a straightforward pricing model with no monthly fee, only a one-off fee of £45 to open the account. Transfer fees for international payments are low and depend on the currency and destination, making it cost-effective for cross-border transactions. Most features are free unless you exceed certain limits, such as ATM withdrawals or ordering extra team cards. That said, if your business relies on cash deposits or topping up e-wallets, those additional charges can add up.

You can visit the Wise Help Centre for general guidance on setting up or using your account.

If you already have a business or personal Wise account, you can log in to access personalised support via phone, email, or live chat. In some cases, Wise may reach out to you directly by email if there’s an issue with your account.

Our Verdict: 5/10

There isn’t much transparency around Wise Business customer support. While most competitors highlight 24/7 human support as a selling point, Wise keeps things a bit vague. You’ll find a Help Centre and some support options once you log in, but it’s not clear how responsive or accessible those channels are, especially for urgent issues. That lack of clarity makes Wise feel less dependable when it comes to support.

To be eligible for a Wise Business account, you must operate as one of the following:

• A sole trader or freelancer
• A limited or public company
• A partnership
• A charity or trust

Wise accepts business registrations from most countries, including the EEA, Canada, the US, the UK, Switzerland, Australia, and New Zealand. You can find the full list of supported and unsupported countries, as well as account usage limitations, on their website.

How to Apply For A Wise Business Account 

Opening a Wise Business account is entirely online. You’ll start by creating an account using your email address, verifying it via a link sent to your inbox, and then confirming your phone number. This part only takes a few minutes.

Wise may also need to verify your business. You could be asked to provide one or more of the following:

• A colour scan of a government-issued ID
• Details of shareholders, directors, and ultimate beneficial owners
• Business information such as legal name, registration number, address, and proof of address
• Information about the person managing the account

Depending on your country, additional documents may be required. For example, businesses in Singapore may need to provide proof of address, while US businesses might need to submit Social Security details.

Our Verdict: 10/10

Wise makes it easy to get started with a fully online application and quick setup. It supports a wide range of business types, from sole traders to charities, and is available in most major countries and regions. While document requirements vary by location, the process follows standard practices for business accounts. Overall, it’s a smooth and efficient onboarding experience for eligible businesses.

• Trustpilot: 4.3/5 (based on 255,573 reviews)
  Wise is generally well-rated for its low fees, competitive exchange rates, fast transfers, and user-friendly platform. However, reviews are mixed, as many come from personal users rather than business customers. Common complaints include limited customer support, challenges during the business account application process, and sudden account closures in some cases. 
• Apple App Store: 4.8/5 (based on 6,700 reviews) 
  The high rating suggests users find the Wise app reliable, easy to navigate, and generally smooth to use, with minimal glitches reported.

Overall, Wise gets strong reviews for its low-cost transfers and user-friendly app, especially on mobile. But if you're opening a business account, expect a few bumps — personal users generally report a smoother experience, with some business users noting setup issues and limited support.

If your business is registered in Hong Kong, Singapore, or the BVI and you're looking for more hands-on support managing cross-border payments, Statrys is worth exploring.

As a licensed Money Service Operator in Hong Kong, Statrys provides multi-currency business accounts with access to 11 major currencies and features such as:

✅ Mastercard® prepaid cards (available upon request)

✅ Worldwide SWIFT transfers with free MT103 tracking

✅ Competitive FX & spot orders, with fees from as low as 0.15%

But what makes Statrys stand out is its client-first approach. Every business gets a dedicated account manager, offering responsive, tailored support that’s often hard to find with digital platforms.

Since 2019, Statrys has worked with over 5,000 international businesses to simplify global payments and keep their finances on track.