Wise Business is an online account that lets a business pay, get paid and spend in over 40 currencies at the mid-market exchange rate, with a business card on top. Signing up is free in most regions, but there's a one-time fee to get your first account details, and Wise verifies your business before you can send or open a currency.
Here's the catch most people find out late. Wise isn't a bank, but it's regulated like one, so it checks your business before you can send: registration number, trading address, who owns and controls the company, and whether your industry is allowed. If your registered address and your trading address are in different countries, Wise can only offer you the services available in both.
Which businesses Wise accepts
| Business type | Status, as of October 2026 |
|---|---|
| Sole traders and freelancers | Accepted |
| Limited and public companies | Accepted |
| Partnerships | Accepted, except new UK Scottish, English and Northern Ireland limited partnerships |
| Trusts | Only those registered in Australia, Canada, New Zealand and the US; UK and EEA trusts are temporarily restricted for new sign-ups |
| Crypto, tobacco, adult content and other prohibited activities | Not accepted |
| Australian superannuation funds and SMSFs | Not accepted |
| Businesses with bearer shares | Not accepted, wherever they're incorporated |
Brazil has its own short list: Empresario Individual including MEI, Sociedade Limitada Unipessoal and Sociedade Unipessoal de Advocacia. The UK partnership restrictions only apply to new registrations, so an account that's already verified and active isn't affected.
Opening the account
Wise says setup takes a few minutes: you enter details about yourself and your business, and verification happens before your first transfer. If you already have a personal Wise account, you can link the business account to it and use one login. From the web or the app, select your name icon in the corner, then Open a business account.
What it costs
Outside Brazil and India, signing up is free, but getting your first set of account details carries a one-time fee that depends on where your business is registered. Brazilian businesses pay a registration fee instead. You'll find the exact figure on Wise's pricing page under Receiving, and you can switch country with the flag icon. A few points from Wise's help on that fee:
- You can pay it by debit or credit card, or from a balance in the account, but not with a Wise card.
- Some countries cost Wise more to verify, so the fee can be higher.
- If Wise can't verify your business, it refunds the fee.
- You only pay it once. After that, account details in other currencies are free to open.
Converting between currencies, in the account or on the card, carries a small fee on top of the mid-market rate, and Wise shows it before you confirm.
How verification works
- Sign up and give your business registration number, registered and trading addresses, industry, any website, and details of directors and owners.
- If you aren't a director, add proof you're allowed to open the account, such as a signed letter of authorisation, a power of attorney or a board resolution.
- Pay the one-time fee or set up your first transfer. In some regions you choose between the two.
- Wise runs an initial review of what you've given it.
- If it needs more, its verification team emails you from a Wise.com address with a secure upload link.
That extra review usually takes up to 10 working days, and a paused transfer resumes once it's done. Wise is clear that you shouldn't send documents unless its team asks by email or through an official prompt in your account.
| Document Wise may ask for | Examples |
|---|---|
| Proof of business registration | Certificate of incorporation, articles of association, official registry excerpt |
| Proof of trading address | Recent utility bill, lease or bank statement in the business name |
| Ownership documents | Shareholder register, operating agreement, partnership deed |
| Personal ID | For the account administrator and possibly other directors or owners |
Verification isn't one and done. Wise may ask again when regulations change or documents expire, and if your business incorporates or changes its entity type, you'll need to be re-verified with proof of the change.
Sending payments from a business account
When you send on behalf of the business, the funds must come from a business bank account in the same name as the business registered with Wise. If you've paid for a business transfer from a personal account, or the other way round, Wise asks you to tell it.
Taking card, Apple Pay and Google Pay payments
Businesses with a registered address in the EEA, the UK, Australia, Hong Kong, New Zealand, Singapore, Canada or the US can apply to accept card payments. You give your website address, explain what the business does and agree to Wise's card fees, and Wise may still turn some businesses down. Once approved, you request a payment, create an invoice or share a QR code, choose Card, Apple Pay or Google Pay, and send the link.
The fee depends on your region and on whether your customer pays with a domestic consumer card, an international one or a business card, and it already covers Visa and Mastercard scheme fees. Wise charges your customer nothing, though their own bank might. Payouts can take up to 14 days depending on your type of business. You can refund all or part of a card payment from the Payments tab, the refund takes 2 to 10 working days to reach the card, and the fee you paid isn't returned.
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The business card and extra accounts
The Wise Business card is offered in the EEA and Switzerland, the UK and its Crown Dependencies, Singapore, Japan, the Philippines, Australia and New Zealand, and a digital card is also available. Wise aims to deliver in 3 working days in Singapore, 2 to 6 days in the UK, within 2 weeks in Europe and up to 3 weeks in Australia and New Zealand. If you run several businesses, you can open a Wise account for each one under the same login, but only one account per business or entity.
My verdict on Wise Business
I'd open Wise Business if you invoice or pay suppliers abroad, because you get local account details, the mid-market rate and a card in one place, and it connects to Xero and other accounting tools. I'd look elsewhere if you're registering a new UK limited partnership or a UK or EEA trust, or you're in a prohibited industry, because Wise won't take you. If you're comparing options, here's my guide to the best business bank accounts for UK sole traders, and my list of other ways to send and receive abroad.
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Frequently asked questions
Is a Wise Business account free?
Signing up is free in most regions, but there's a one-time fee to get your first account details, and it varies by where your business is registered. Brazil charges a registration fee instead.
How long does Wise Business verification take?
Wise runs an initial review after you sign up. If it needs more information, the review usually takes up to 10 working days.
Can I pay the Wise Business account details fee with a Wise card?
No. You can pay by debit or credit card or from a balance in the account, but not with your Wise card.
Can one person run more than one Wise Business account?
Yes, one for each business or entity you run, all under one login. You can only have one account per business.
How long do Wise card payment payouts take?
Payouts can take up to 14 days after your customer pays, depending on the type of business you run.
