Wise Business
by Wise plc · Global Payouts
Multi-currency business account for holding, converting, receiving and batch-paying in 40+ currencies.
Updated August 2026 · By the ERP Research Editorial Team · Independent and vendor-neutral.
- Works with
NetSuiteQuickBooksXero- Deployment
- Cloud
- Company size
- SMB, Mid-market
- Pricing
- Pay-as-you-go transaction fees
- Founded
- 2011
- Headquarters
- London, United Kingdom
Overview
Wise Business is the business account product of Wise plc (formerly TransferWise), a publicly listed (LSE: WISE) money-transfer company founded in London in 2011. It gives businesses a multi-currency account that can hold and convert money in over 40 currencies, receive payments via local account details in 20+ markets, and send money internationally at rates based on the mid-market exchange rate plus a transparent fee.
Core functionality includes batch payments (paying up to 1,000 recipients in a single upload), physical and virtual business debit cards with team spending controls, invoicing and payment links, and interest-bearing multi-currency balances in GBP, EUR and USD. There is no monthly account fee; a one-off setup fee unlocks local receiving details and the full Advanced feature set, and per-transaction fees apply to conversions and transfers.
Wise Business connects to accounting software either directly from within the Wise account (Xero and QuickBooks support bills and bank feeds; DATEV, Exact Online and Twinfield support bank feeds) or via Open Banking connections to a longer list that includes Oracle NetSuite, Sage, Microsoft Dynamics 365, Odoo, Zoho and others, syncing transaction data for reconciliation.
Screenshots & demo
Demo video from the vendor's YouTube channel.
Features & capabilities
Multi-Currency Account
Hold, convert and receive across a wide currency set.
- Hold and convert 40+ currencies
- Local account details to receive like a local in 20+ markets
- Mid-market exchange rate plus a transparent conversion fee
- Multi-currency balances with interest available in GBP, EUR and USD
Payments
Sending money domestically and cross-border.
- Batch payments to up to 1,000 recipients in a single upload
- International transfers with most arriving within 24 hours
- Direct debits and standing orders in supported markets
- Payment links and invoicing for collecting client payments
Cards
Physical and virtual cards for team spending.
- Physical and virtual business debit cards
- Card acceptance in 231 countries
- Custom spending permissions and controls
- Apple Pay and Google Pay support
Team and Access Management
Controls for multi-user business accounts.
- Custom user roles and spending permissions
- Multiple sub-accounts for departments or projects
- Batch payment approval workflows
Accounting Integration
Direct and Open Banking connections to accounting platforms.
- Direct connection to Xero and QuickBooks for bills and bank feeds
- Direct bank-feed connection to DATEV, Exact Online and Twinfield
- Open Banking connections to Oracle NetSuite, Sage, Microsoft Dynamics 365, Odoo, Zoho and others
- Manual statement export in MT940, CAMT.053 or QIF for unsupported software
Common use cases
- A startup with international clients receiving payments via local account details instead of expensive wire transfers
- A business paying dozens or hundreds of remote contractors in one batch upload
- An eCommerce seller holding marketplace payouts in multiple currencies before converting at a favorable time
- A finance team syncing Wise transactions into Xero or QuickBooks for daily reconciliation
- A company issuing employee expense cards with per-card spending limits
- A business collecting client payments through hosted invoices and payment links
- A treasury team earning interest on idle multi-currency balances
Strengths & considerations
Strengths
- Uses the mid-market exchange rate with a disclosed conversion fee rather than an undisclosed FX markup
- No monthly account fee; pay-as-you-go pricing with a one-off setup charge for full features
- Local receiving account details in 20+ markets under one account
- Publicly listed company (LSE: WISE) with an established regulatory footprint across multiple jurisdictions
ERP integrations
Bank feed only, via a third-party Open Banking provider
Bills and bank feeds, set up from within the Wise account
Bills and bank feeds, set up from within the Wise account
Pricing
No monthly account fee. FX conversion is priced at the mid-market rate plus a disclosed fee starting from about 0.33 percent, varying by currency pair. Volume discounts are available for businesses converting more than 20,000 GBP or equivalent per month. The free Essential plan covers basic send-and-hold functionality but, since November 2025, does not include receiving payments or direct debits. Get an independent shortlist with pricing guidance below.
Technical & security
- Hosting
- SaaS (multi-tenant)
- Mobile app
- Yes
- Languages
- English
About the vendor
- Founded
- 2011
- Headquarters
- London, United Kingdom
- Employees
- 8,051 (Wise plc group, FY2026)
- Ownership
- Public (LSE: WISE)
Alternatives to Wise Business in Global Payouts
Wise Business — frequently asked questions
Does Wise Business charge a monthly fee?
No. Wise Business has no monthly or maintenance fee. A one-off setup charge, around 50 GBP or local equivalent, unlocks local receiving account details and the full Advanced feature set, and per-transaction fees apply to conversions and transfers.
What accounting software does Wise Business connect to?
Xero, QuickBooks, DATEV, Exact Online and Twinfield can be connected directly from within the Wise account. A longer list, including Oracle NetSuite, Sage, Microsoft Dynamics 365, Odoo and Zoho, connects via Open Banking through third-party providers, with the authorization typically needing renewal every 90 to 180 days.
How many recipients can a Wise Business batch payment include?
Wise Business supports paying up to 1,000 contacts in a single batch upload.
What exchange rate does Wise Business use?
Wise uses the mid-market exchange rate and adds a disclosed conversion fee, starting from about 0.33 percent depending on the currency pair, rather than building a hidden markup into the rate.
Evaluating Global Payouts?
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