Wise Business Account Review (2025): Features & Fees
Looking to cut costs on global transactions, but not sure if a Wise Business Account is right for you? Many business owners, freelancers, and finance teams face higher fees dealing with foreign currencies. If you’re exploring other solutions, you might also check out our top recommendations on Wise alternatives.
Yet Wise remains a standout contender for multi-currency needs, offering local account details and an upfront fee structure. Below is a review of its 2025 features and pricing, so you can decide if it fits your international payment requirements.
Why Wise Business Matters in 2025
Wise has continued to grow rapidly, with an active customer base reaching 11.4 million users by mid-2025, according to recent industry data. This growth reflects a rising demand for cheaper cross-border transactions, especially as more companies hire international staff or sell globally. Wise positions itself as a modern, open alternative to traditional banking solutions. Businesses can hold funds in over 40 currencies, convert those currencies at more favorable rates, and avoid hidden bank charges.
Key Features You Should Know
Multi-Currency Holding and Payments
The Wise multi-currency account is at the core of the Wise Business product. You can hold more than 40 currencies and send funds to over 160 countries. The system uses the mid-market exchange rate, which is often better than the rates provided by traditional banks. For businesses handling frequent international transactions, this can reduce expenses and lower the hassle of maintaining multiple foreign accounts.
A big plus is local bank details in up to 10 currencies, such as USD, EUR, and GBP. These local details let vendors and clients pay you just as if you were based in their region. This helps firms who want to appear “local” in different markets.
Wise Business Card
The Wise Business card extends your ability to spend money from your balances across different currencies. You can add team members and set spending limits. If you frequently travel or purchase from international suppliers, you avoid typical foreign transaction fees since Wise converts at the mid-market rate. Some regions also offer 0.5% cashback, which can add up if you pay business expenses on the card.
Fees and Pricing
Currency Conversion
Wise’s conversions start from about 0.33% or 0.41%, depending on the currency pair. This percentage-based model can be an advantage on larger transactions, as you’re not subject to a massive flat fee. Unlike traditional banks that slip markups into their exchange rates, Wise shows a breakdown of all fees.
Additional Charges
There might be a small registration or card issuance fee, depending on your region. While there’s no monthly fee, you do pay for specific actions. For instance:
Some SWIFT deposits carry a small inbound charge.
ATM usage is free up to a set monthly limit; beyond it, a modest percentage-based fee applies.
A small cost for team member cards if you need multiple cards for employee spending.
Many businesses see that these charges are still lower than typical banks. Based on reported data, Wise’s average customer saved up to 7x the fees they would have paid through a high-street bank in 2024.
How Does It Compare to Traditional Banks?
In contrast to major banks, Wise uses the mid-market rate without hidden markups. In a 2024 study, total fees on a £10,000 GBP-to-EUR transfer averaged about £41.25 with Wise versus £286 through standard banking channels. The biggest advantage is cost clarity, which helps companies budget more effectively.
That said, Wise is not a bank. You won’t find loans, overdrafts, or in-branch visits. It’s built primarily for cross-border money management, so large organizations still might keep a standard business bank account for lending or other services.
Advanced Capabilities for Growing Businesses
Batch Payments
Wise Business supports sending up to 1,000 payouts simultaneously via batch files. This can streamline the process for payroll, freelancer settlements, or vendor disbursements. Many operations teams welcome the time savings and reduced risk of manual errors.
API and Integrations
If you need to automate your transactions, Wise offers an API so that your tools—like payroll systems or invoicing platforms—can deliver payments directly. This is an efficient way to monitor spending in real time and keep accounting software up-to-date with minimal manual entry.
Potential Drawbacks
A recurring complaint from some users is that verifying business documents may involve added steps if your operations span multiple countries. Wise also isn’t equipped for elaborate business lending services. And if you need to deposit cash or checks, you’ll need alternative banking channels.
Who Benefits the Most?
Small to medium enterprises, freelancers working with global clients, and e-commerce companies see the largest perks from Wise Business. The variable transaction fees can slash FX costs for frequent international invoices and bulk payouts. Plus, multi-user access is useful for startups where various people might need to handle bills or check account balances. On the other hand, fully local businesses with minimal foreign transactions might not find as much value.
Where Mural Pay Fits In
Businesses looking for a broader set of global payment solutions beyond personal money transfers may wonder if there’s another platform. Mural Pay is built with business use cases in mind. It goes beyond standard transfers, offering batch payments to pay hundreds of contractors at once. It’s also popular among LATAM firms that need stablecoin on/off-ramps, as it integrates crypto payouts alongside traditional currency options.
For international payroll logging or advanced invoicing in multiple currencies, Mural Pay might be a better fit. It supports compliance for large-scale foreign exchanges and merges your stablecoin operations with local fiat conversions. While Wise sees heavy use among freelancers and smaller businesses, Mural Pay is often favored by companies that handle higher transaction volumes and want stablecoin capabilities in addition to local currency payouts.
Wrapping Up
Wise Business delivers a transparent, cost-driven approach to global transfers and multi-currency balances. You can handle batch payments, automate transactions, and manage a multi-currency card under one roof. For entrepreneurs and SMEs regularly dealing with FX conversions, Wise could cut your cross-border fees without sacrificing clarity.
If you’re curious about other aspects of secure payment solutions, you might find relevant insights in our guide on popular payment methods for international trade. Ultimately, whether you’re sending funds to overseas freelancers or moving capital for your growing e-commerce platform, reviewing your specific international needs should guide the final decision.
References
FXCintel. (2025). “Wise H1 2025 Earnings Analysis.” Available at: https://www.fxcintel.com/research/reports/ct-wise-h1-2025-earnings
Exiap. (2024). “Wise Business Account Review.” Available at: https://www.exiap.com/reviews/wise-business-account
Statista. (2024). “Estimated Growth of Wise Bank Globally.” Available at: https://www.statista.com/statistics/1463956/estimated-growth-of-wise-bank-globally/
Money to the Masses. (2024). “Wise Business Account Review.” Available at: https://moneytothemasses.com/business/bank-accounts/wise-business-account-review
Wise.com. (2025). “Pricing & Business Features.” Available at: https://wise.com/us/pricing/business
