Wise offers an online and mobile app-based business current account for businesses in the UK that want to operate internationally in multiple currencies without incurring excessive charges. Below we look at reviews for the company along with the accounts they offer, how much they cost and other key things you need to know to help you decide which business bank account provider is right for your business.
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Wise Reviews
Below we look at reviews for Wise from a variety of websites. Please keep in mind that these reviews are for all of Wise’s services and so may not fully reflect their business offerings.
- Trustpilot: 4.6 of 5 based on 115,160 reviews.
- Reviews.co.uk: 4.09 out of 5 based on 11 reviews.
Wise Business Services Plans, Packages & Prices
Wise offers a multi-currency bank account without the need for a bank. Their business account includes:
- Debit card
- Online and mobile app account management
- Streamlined payments
- Make batch payments
- Add team members
- Pay invoices in 70+ countries with competitive exchange rate
- Receive overseas payments without high conversion fees
- Works with Stripe and other online seller or trading platforms
- Integrates with accounting software
There are a wide range of charges on their business bank account which includes:
- £16 one-time set up fee to get account details
- Free to hold 50+ currencies
- Free Wise debit Mastercard
- ATM withdrawals over £200 over 30 days 2%
- Fixed fee to send money £0.65 although can vary by currency
Note plans, packages and prices were all accurate at the time of publication but may have changed since then. Please check Wise’s website for the latest information.
Wise Background
Wise was originally set up under the name of Transferwise in 2011 with the aim of making international money transfers fairer, simpler and cheaper. They now support over 10 million people and businesses with their multi-currency account.
Wise was set up by two friends from Estonia who lived and worked in London and needed to make international transactions which they found expensive and complex so they decided to create a better solution.
They offer accounts for money transfers and bank accounts that allow you to hold money in over 50 currencies and make transactions with over 70 countries. They offer competitive rates and allow you to connect with online sellers and trading platforms like Stripe. Business account customers can also integrate their account with accounting software to make it easier to manage your finances.
Switching To Wise
If you want to open up an account with Wise you can apply online through their website, with Apple, Google or Facebook.
Additional Business Services From Wise
Wise only offers business bank accounts and international money transfers.
Wise Business Service Availability
Wise offers their business accounts to most businesses as long as the applicant is over 18 years old and they have the authority to bind your business.
Wise Business Customer Service and Complaints
Wise provide contact details to their customers only once they log in to their account.
Wise Business Contact
Wise provide contact details to their customers only once they log in to their account.
Website: https://wise.com/gb/business/
Wise Business Services Pros/Cons
Pros
- Online and mobile app management
- Positive reviews from a large number of customers
- Competitive rates for currency transactions
- Holds over 50 currencies
- Integrates with accounting software
Cons
- No branches
- Reduced bank account functionality
- Not as well-known as a bank account provider