If your business operates in multiple currencies, a Wise Business Account can be a cost-effective and transparent solution. It lets you send money to over 160 countries in more than 40 currencies, accept client payments in up to 9 currencies, and always benefit from the real mid-market exchange rate—without hidden fees. With low, clearly listed transfer costs and flexible options like debit, credit, and bank transfers, Wise makes international business banking straightforward and affordable.
Founded in the UK in 2011 as TransferWise, the company has grown into one of the world’s most trusted fintechs for cross-border transactions. A Wise Business Account builds on the strengths of its personal accounts, adding features tailored to companies, such as the ability to issue multiple debit cards with spending limits for employees, plus unlimited virtual cards. For freelancers, small businesses, and growing companies alike, it’s a convenient way to manage international transactions with clarity and control.
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Wise Business Account features
Here's an overview of the features and services that Wise Business Account provides:
Verified on August 29, 2025
Why You Want It
Send funds to 160+ countries in 40+ currencies + Get real exchange rates.
Eligibility
- Be a sole trader, freelancer, limited or public company, partnership, charity, or trust
Provinces
ALL
Features
Mid-market Exchange Rate?
Hidden Fees?
Example Fees For $1,000
- From 0.33%, fees vary by currency
Example Transfer Speed For $1,000
- 24 hours
Debit Transfer?
Credit Transfer?
Bank Account Transfer?
Paypal Transfer?
Transfer Limits
- Depends on country, CAD to CAD is unlimited
Wise Business Account product rating: 3.4 stars
Wise is a well-known and well-rated international money transfer service, so it's really no surprise that its business account is also highly rated. Essentially, it offers all the same benefits of a personal account with a few extra details thrown in for good measure, like the ability to have multiple debit cards to share among your employees as needed. Very convenient.
Still, some of Wise Business Account finer details are a bit complicated and annoying. The cons on our list below are a bit nitpicky, but when it comes to business dealings, the simpler and smoother things are, the better. And Wise Business Account still has room for improvement.
Learn more about our rating methodology.
The pros of Wise Business Account
These points discuss the best of Wise Business Account's points and features:
Pros
Low and completely transparent fees
The transparency of all Wise Business Account fees is surprisingly pleasant, as is the affordability. There are only 2 fees involved in sending a transfer: one transfer fee and one Wise fee. There's even a dropdown menu on the calculator that lists individual fees for various payment options.
More than 40 currencies available
A Wise Business Account allows you to send payments to more than 160 countries in over 40 currencies. Plus, you can accept client payments in as many as 9 different currencies, making it convenient and simple for clients to pay up for your product or service.
Real exchange rates
Having more than 40 currencies available to use isn't much use if you have to pay ridiculous exchange rates for each one – but, luckily, your Wise Business Account uses only the real exchange rate. There are no insane conversion fees to be found.
Comes with a debit card
Actually, your Wise Business Account comes with as many debit cards as you like. Whether you have one for yourself or a dozen of them for your employees, each debit card can be programmed with a spending limit and can be controlled and tracked via your Wise Business Account. You can also create an unlimited number of virtual cards.
The cons of Wise Business Account
Here are a few less-than-stellar details about the Wise Business Account:
Cons
No cash deposits or transactions
Wise Business Account clients are unable to use cash or cheques for deposits or transactions, which is disappointing. Yes, it's true that Wise isn't a bank, so it's not really a surprise that they don't accept cash deposits or allow cash transactions, but it's still a detail that we hope could change in the future.
Limited customer support channels
Clients can get 24/7 assistance via phone, email, or the website's contact form – but the reviews are mixed on how helpful these channels are (it's also tricky to tell which reviews are specifically for Wise Business Account vs. just Wise). In any case, an instant message feature would certainly help.
Wise Business Account alternatives
Curious about how Wise Business Account stacks up? This table compares Wise Business Account side-by-side with some top competitors:
 |  |  |  | |
|---|---|---|---|---|
| Account | Wise Business Account | KOHO International Money Transfer | Western Union Money Transfer | Xoom |
| Genius Rating | ||||
| Why You Want It | Send funds to 160+ countries in 40+ currencies + Get real exchange rates. | Get access to cheap and quick international money transfers from a KOHO account. | Send money online or in-store + Over 2,700 stores across the country. | 4 different delivery methods available + Money-back gurantee. |
| Mid-market Exchange Rate? | | | | |
| Hidden Fees? | | | | |
| Example Fees For $1,000 |
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| Example Transfer Speed For $1,000 |
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| Debit Transfer? | | | | |
Show More | ||||
| Apply Now See more Wise products Compare | Apply Now See more KOHO products Compare | Apply Now See more Western Union products Compare | Learn More See more Paypal products Compare |
FAQ
Is there a business account for Wise?
Yes, Wise Business Account offers the same features as Wise, but for companies instead of individuals. Additional features include unlimited free debit cards for employees.
How much does it cost to send money from Canada with a Wise Business Account?
After paying an initial registration fee of $42, the amount you'll pay to send money via your Wise Business Account depends on a few factors, such as the destination country, the currency used, and how much you're sending.
How is a Wise Business Account different from a personal account?
A Wise Business Account account comes with a few more features that are specific to a company's needs, such as multi-user access controls, an accounting software connection, and free debit cards for employees.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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