Wise Business Account Requirements in the UK for 2025
Wise Business offers UK customers international account and card services which can make it simple and cheap to manage your business finances in multiple currencies.
Accounts can hold 40+ currencies and offer linked debit and expense cards for your business spending and cash withdrawals. You can also get local and SWIFT account details for 8+ currencies to be paid by others, with ways to send money to 140+ countries quickly and cheaply.
Wise stands out as it uses the mid-market exchange rate for currency exchange when you send, spend or convert, with low, transparent service fees which can help you cut the costs of doing business. Let’s take a look at the Wise Business account requirements for UK customers.
Key points: Opening a Wise Business Account
Set up in minutes: You can open a Wise Business account online or in the app with just a few details about you and your company. The process is fully digital and quick to complete.
Verify your business: Upload a valid photo ID, proof of address and your business registration documents. Wise will guide you through what’s needed based on your business type.
Link to your personal account: Already have a Wise personal account? You can link your new business account and manage both using the same login.
Pay a one-time fee: There’s a one-off 45 GBP fee to access your full Wise Business account features and get account details for receiving payments.
Start sending, spending, and getting paid: Once verified, you can order your debit or expense cards, hold and convert 40+ currencies at the mid-market rate, and make or receive payments in over 140 countries.
Wise Business account requirements
You can open a Wise Business account in the UK if you or your business fall into one of the following categories:
Sole traders
Freelancers
Limited and public companies
Partnerships
Charities and trusts
Wise Business also has an acceptable use policy which sets out specific types of business and industry sectors which it can not support. This means you can’t usually use Wise if you’re working in a restricted or illegal trade, in financial services and in some other niches which are risky or highly regulated.
To open a Wise Business account in the UK you’ll usually be asked for some information and documents. Not all business types will need to provide all of this - the exact requirements vary based on entity type.
📍 You may be asked for the following information:
Personal and contact details of the account representative
Information about company directors and beneficial owners
Business name, company type and registration number
Business registered address
Business trading address if different to your registered address
Details about your business activities which can include sharing your business website or online storefront if you have one
Details about how your business will use Wise
📂 You’ll also need to upload some documents:
Photo ID and proof of address for the account representative
Photo ID for beneficial owners
Business documents - which vary based on entity typeThe beneficial owners of your company are usually considered to be anyone who directly or indirectly owns 25% or more of the company, or who exercises control over the company.
How to open a Wise Business account
You can open a Wise Business account online or in the Wise app. The process is designed to be intuitive and easy to follow, and you can stop and save your progress if you need to, and return to your application later. You can also get in app support easily if you need guidance.
Here’s a step by step overview of how to open a Wise Business account:
Download the Wise app, or open the Wise desktop site
Register with your email address, or an Apple, Google or FaceBook account and confirm you want a business account
Follow the prompts to enter your personal and business details
Upload your personal ID and address documents, and the required business paperwork for verification
Pay the one time account opening fee
Once your account is verified, you can order a card, set up currency balances and start transacting
Here are a few ways to start using your Wise Business account once you’re all set up:
Send payments worldwide: Pay invoices, suppliers, or team members in 140+ countries with low fees and no hidden exchange rate markups.
Receive payments like a local: Get account details in 8+ currencies, including GBP, EUR, and USD, so clients and marketplaces can pay you directly into your Wise account.
Spend with your Wise Business debit or expense card: Order cards for yourself and your team, set custom spending limits and track expenses in real time.
Manage and automate your finances: Connect Wise to accounting tools like Xero or QuickBooks, schedule or batch payments and keep all your international transactions in one easy dashboard.
How can I verify my business?
You will need to provide a government issued photo ID document like a passport or a driving license for the account representative, as well as for all beneficial owners.
If you’re a freelancer or sole trader, you don’t need to complete the steps related to beneficial owners, as your own ID will suffice.
You may also be prompted to upload some business documents. This process varies depending on the type of business entity you have and where it is registered, but you’ll be guided though what’s needed by on screen prompts.
How long does Wise take to verify a business account?
Once you’ve uploaded the required documents and completed the Wise Business registration process, your account will be sent for verification. The Wise team may contact you if you need to provide any further information or documents.
Verification is usually completed within 1–2 working days, although it can take up to 10 days depending on your business structure and the type of documents submitted. You’ll receive an email notification once your account has been verified and is ready to use.
Can I open a Wise Business account without a UK address?
Yes, you can open a Wise Business account without a UK address. Wise supports businesses and self-employed individuals from multiple regions, allowing you to get UK account details, including a local account number and sort code, even if your business is based abroad.
You don’t need a UK residential address, but you must have a physical trading address in a country where Wise Business is supported, which is required for verification. During the application process, you’ll be asked to provide:
Proof of your business address, such as a recent utility bill, lease agreement, or bank statement
Valid photo ID (for example, a passport or driver’s licence) for the account representative and any business owners or directors
Company registration documents that confirm your legal business name and structure
Details about your business activity, such as your website or the type of services you provide
For sole traders and freelancers, the process is even simpler - Wise usually just needs your personal ID and proof of your business address in your name.
You can learn more about supported countries and verification requirements in the Wise Help Centre.
Wise Business account fees
Wise has a focus on transparency in pricing, and splits out the fees you pay for services so you can clearly check and compare. There’s a one time fee to access full account features, but accounts are free to open with no monthly costs.
Wise also offers currency exchange which uses the mid-market exchange rate and a transparent conversion fee when you spend with a card, send a payment or convert within your account to keep costs down, and make it easier to manage your business finances.
Here are the Wise Business account fees to consider:
Service | Wise Business fee |
|---|---|
Open account | 45 GBP one time fee |
Order a Wise debit or expense card | 3 GBP one time fee |
ATM withdrawal | No fees for 2 withdrawals to 200 GBP/month 0.5 GBP + 1.75% after that |
Spend with Wise debit or expense card | Free to spend currencies you hold when you have enough in your balance Currency conversion from 0.33% where needed |
Send a payment overseas | From 0.33% |
Convert currencies | From 0.33% |
Get paid from abroad | Free to receive domestic non-Swift/non wire payments in select currencies with account details 6.11 USD to receive an incoming USD wire |
Swift receive fees | Fees vary based on currency 6.11 USD to receive USD Swift payments 2.16 GBP to receive GBP Swift payments 2.39 EUR to receive EUR Swift payments |
*Correct at time of research - 8th November 2025
Is Wise a bank?
Wise is not a bank. Instead, Wise is licensed as an Electronic Money Institution in the UK.
Wise doesn’t offer quite the same range of services as you might get from a bank - and Wise doesn’t have a branch network either. Instead, as a fully digital provider you can manage your Wise account online and in the Wise app, including getting customer service and support through live chat and by phone.
Wise products do not include things like credit cards and loans, but you can get a powerful digital multi-currency account for your business, with a linked debit card and lots of smart international features.
You can send money to 140+ countries, spend globally with your card, receive payments in GBP and foreign currencies with local and SWIFT account details, and view and manage your account with just your phone.
Is Wise Business safe?
Wise Business is safe to use. Wise comes with robust online security features built into the app, including manual and automated processes which run 24-7 to protect customers from fraud.
There’s 2 factor authentication log on processes, ways to view and manage your account conveniently with your phone, and easy ways to freeze and unfreeze your physical or virtual payment card if you need to. Together these features offer peace of mind and practical support to keep your account safe.
Is the Wise Business Account safe to keep money in?
Wise takes several steps to keep your business funds safe. When you hold money in your Wise Business account, it’s kept separate from Wise’s own money and safeguarded in secure accounts with reputable financial institutions. As a result, your funds are always available when you need them.
Wise also keeps most customer funds in high-quality liquid assets, such as government bonds and money market funds, which are designed to remain stable even during market volatility. Unlike banks, Wise doesn’t lend out your money, so you always have access to your balance when you need it.
You can learn more about how Wise safeguards your money and ensures it’s protected here: 📚How Wise keeps your money safe.
How long does it take to open a Wise Business Account?
Opening a Wise Business account is quick and fully online. You can usually complete the registration and upload your documents in just a few minutes.
Once you’ve submitted everything, your account will go through verification, which typically takes 1–2 working days, although it can take up to 10 days depending on your business type and the documents provided. You’ll get an email update as soon as your account is verified and ready to use.
If you order a Wise Business debit or expense card, delivery times vary depending on the option you choose:
Standard delivery: Arrives in 2–6 business days
Express delivery: Pay £10.85 to get your card in 1–2 days
Once your card arrives, you can activate it by making your first payment using Chip and PIN and start spending straight away, or use your digital card instantly with Apple Pay or Google Pay.
Wise Business Account supported countries
Wise Business is available to a wide range of companies and professionals across the world. You can use it whether you’re a freelancer, sole trader, limited company, or registered organisation, as long as your business is based in a supported country. When you sign up, Wise will automatically check your registration details and confirm whether your business type and country are eligible.
To learn which countries Wise doesn’t support, take a look at: Where can I use Wise?
Can I use the Wise personal account for Business?
You’ll need a dedicated Wise Business account to manage company or freelance finances. Wise personal accounts are designed for individual use only, such as sending money abroad or holding multiple currencies for personal spending.
While freelancers and sole traders can technically use a personal account for occasional business payments, Wise recommends opening a Business account if you regularly receive client payments, send invoices, or pay suppliers to keep personal and business finances separate. It includes extra tools for invoicing, batch payments, accounting integrations and multi-user access to simplify business transactions and bookkeeping.
Wise Business account vs personal
Not sure if a Wise personal account or Wise Business account is best for you? Here are some key differences to help you decide:
Wise personal account</span> | Wise Business account |
|---|---|
Free to open, with no ongoing fees Get a Wise debit card for personal spending Hold and exchange 40+ currencies at the mid-market rate Manage your money from one account, send and spend in 140+ countries | One-time 45 GBP fee to unlock full account features, with no ongoing fees Order debit and expense cards for yourself and your team Hold and exchange 40+ currencies, plus gain access to batch payments and volume discounts Automate workflows with an open API, sync to accounting tools like Xero or QuickBooks, and add team permissions for shared access |
Conclusion
Wise Business offers flexible low cost account and card services for freelancers, sole traders and registered business owners in the UK.
Wise has a focus on international features with low, transparent fees, which can make it a great pick for businesses with customers, suppliers, contractors or employees abroad. Pay and get paid in foreign currencies conveniently, spend and withdraw with Wise Business debit and expense cards, and manage everything from your phone at home and on the move.
Use this guide to decide if Wise Business might be a good fit for you, to bring down the costs of managing your money across currencies.
FAQs
Can you use Wise as a business account?
Wise offers UK customers a business account product which is available for freelancers, sole traders and registered business owners. This offers the perks of the Wise personal account, as well as plenty of business friendly extras to save time and cut down admin.
What’s the difference between Wise personal and Wise Business?
Both Wise personal and business accounts have lots of international features and can be used to hold 40+ currencies and send money to 140+ countries. Wise Business also offers business focused benefits like ways to issue debit and expense cards to employees, batch payment solutions, API access and more.
What information is needed for a Wise Business account?
You’ll need to confirm your name and contact information, some information about your business including the registration number, address and sector, and some documents. While the documents needed do vary by business entity type, you’ll normally need ID and proof of address, and business registration documents.
Can I open a Wise Business account in the UK if I’m not resident?
You can open a Wise Business account in the UK even if you’re not a UK resident. Wise supports international businesses from many countries, allowing you to get UK account details (such as a sort code and account number) once your account is verified. You’ll need to provide an address in a supported country, proof of that address (like a utility bill or lease), and identification documents.