How much does a Wise Business account cost?

Wise Business charges a one-time setup fee of $31 for sole proprietors and around $1,100+ for incorporated businesses (LLCs, corporations) in the US in 2026. There is no monthly fee after setup. Transfer fees are 0.4–2% depending on the currency pair — typically much lower than bank wire fees of $25–$50 per transfer.

What can I do with a Wise Business account?

Wise Business lets you hold and convert 40+ currencies, send international payments at mid-market exchange rates, receive payments in local currencies (USD, EUR, GBP, AUD, CAD, and others) with local account details, pay international contractors and suppliers, issue team debit cards, and run batch payments for up to 1,000 transfers at once.

Is Wise Business good for paying international contractors?

Yes. Wise Business is one of the most cost-effective ways to pay international contractors. Sending to a EUR account from USD costs roughly 0.4–0.7% with the mid-market exchange rate — far less than the $25–$50 wire fee plus 2–4% FX margin charged by most US banks. Wise also supports batch payments for multiple recipients.

Does Wise Business work for receiving international payments?

Yes. Wise Business provides local bank account details in multiple countries — a US routing/account number, UK sort code/account, EU IBAN, and others. Customers and clients can pay you using local bank transfers in their own country's currency, and Wise converts to your chosen balance at the mid-market rate.

Wise Business Account 2026: Fees, Features and International Payments

Wise Business lets small businesses and freelancers send and receive international payments at mid-market rates — far cheaper than bank wires. Here is the 2026 guide.

Wise Business at a Glance

Feature	Details
Setup fee (sole proprietor)	~$31
Setup fee (LLC/corporation)	~$1,100+
Monthly fee	$0
Currencies supported	40+
Transfer fee	0.4–2% (mid-market rate)
Batch payments	Up to 1,000 recipients
Team cards	Yes
Accounting integrations	QuickBooks, Xero

Setup Fees by Business Type (US, 2026)

Business type	Wise Business setup fee
Sole proprietor / freelancer	~$31
LLC (single-member)	~$31–$1,100
LLC (multi-member)	~$1,100+
Corporation (C-Corp, S-Corp)	~$1,100+
Registered charity	Contact Wise

Fees subject to change — check wise.com/us/business for current pricing.

Transfer Fee Comparison

Method	Fee for $5,000 to Europe	Exchange rate
Wise Business	~$25–35 (0.4–0.7%)	Mid-market
Bank wire	$25–50 flat	+2–4% margin
PayPal Business	$0 stated	+4–5% margin ($200–250)

On a $5,000 transfer, Wise saves $200–$260 compared to PayPal and $150–$250 compared to a bank wire with FX margin.

Key Features

Multi-Currency Account

Hold balances in 40+ currencies. Convert at mid-market rate when favorable. No need to open foreign bank accounts.

Local Account Details

Receive payments like a local in:

US (routing + account number)
UK (sort code + account)
EU (IBAN)
Australia (BSB + account)
Canada (account + transit)

Batch Payments

Upload a CSV of up to 1,000 recipients — Wise processes all in one action. Ideal for payroll or contractor payments.

Team Debit Cards

Issue Wise debit cards to team members with spending limits and category controls.

Accounting Integration

Connect to QuickBooks or Xero to auto-sync transactions.

Is Wise Business Better Than a Bank for International Payments?

For international payments, yes — typically much cheaper. For domestic US operations, a traditional bank may be better due to FDIC insurance, check writing, merchant services, and established credit lines.

Use case	Wise Business better?
Paying international suppliers	✅ Yes
Receiving from international clients	✅ Yes
Domestic US bank account needs	❌ Use traditional bank
FDIC-insured deposits	❌ Wise is not FDIC insured
Business credit card	❌ Wise has no credit product
SBA loan / business credit	❌ Not a bank

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Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy