The Complete Wise Business Review limits and features

How to send money with Wise for Business

Once you've set up your business account, you can easily send money overseas. Here's what you need to do:

1. Sign into Wise through the website or a mobile app and choose to send money.

2. Provide the recipient the account details of where you'd like to send the money.

3. Pay for the money transfer.

4. Track your transfer as it goes through the system.

5. Wait for the money to be deposited in the recipient's bank account.

Details for transferring money or making international payments

If you're completing a money transfer or sending an international payment, you'll need to provide information about where you want the money to go. You can get this from the organisation or person receiving the money, and if they don't know all the details, they can get them from their bank.

Here's what you to need to enter:

• The amount of money you're sending.

• The countries you're sending money from and too.

• The currencies that you're sending money between.

• The recipient's name and address.

• Bank details of the recipient's account.

The bank account details you'll need vary between countries, but typically you'll need to provide the sort code or routing number and the account number. In some cases, Wise will ask you for a SWIFT code or IBAN (International Bank Account Number.)

💡 If you'd prefer to have the recipient provide details directly, Wise has a "Money to Email" service - just provide the recipient's email address and Wise will contact them and ask for the relevant information.

How you can pay for your transfer

Wise for business offers several payment methods that let you fund your overseas transfer:

• Bank transfer to a Wise account.

• A debit card linked to your bank account.

• A credit card.

If you're paying by bank transfer / wire transfer, Wise requests that you don't pay until you've arranged to send money. They will then provide bank account details and a reference number so that your payment goes to the right place. They accept payment by Faster Payments, Bacs or CHAPS.

If you make a card payment via credit card, your provider may charge your card as a "cash advance." This can mean higher interest rates, and could also result in you starting to pay interest on the amount immediately. Check with your card provider to see if that's likely to happen to you.

You can pay by most types of debit or credit card, including Mastercard and Visa. Wise does charge slightly differently depending on how you choose to pay for your transfer, with a payment from a bank account having a low fee, and debit or credit cards charging slightly more.

Wise personal vs business

Not sure which Wise account suits your needs? Here’s how the Wise Personal and Wise Business accounts compare at a glance..

Is Wise safe for businesses?

Wise Business is safe to use. The platform has built-in security features designed to protect accounts from unauthorised access and fraud, and both manual and automated systems operate around the clock to monitor activity and prevent suspicious transactions.

Customers can enable two-factor authentication (2FA) for added protection and receive instant alerts for account activity. It’s also possible to view and manage your account from your phone, and to freeze or unfreeze your physical or virtual Wise Business card at any time.

Learn more on how Wise keeps your money safe.

How is Wise regulated in the UK?

In the UK, Wise is authorised and regulated by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011. As a result, the company must follow strict standards covering transparency, customer safeguarding and capital requirements.

Customer money is stored in segregated accounts at trusted financial institutions, separate from Wise’s operational funds, keeping balances accessible and safe even in the unlikely event of financial difficulty. Learn more here.

How long does Wise for Business take to transfer funds?

Transfer times vary depending on the currencies, countries, and payment methods involved. More than 60% of Wise Business transfers arrive instantly, and the vast majority are delivered within 24 hours*.

You can see the estimated delivery time before confirming your payment, based on how you choose to fund the transfer and the destination country. Payments made by UK bank transfer may take slightly longer to clear, depending on your bank’s processing times.

*The speed of transaction claims depends on individual circumstances and may not be available for all transactions

Wise Business account limits

Businesses can manage how much they hold and send through clear limits that help keep payments secure and under control. These limits cover account activity, team spending and card usage, and can vary depending on the currency, country, or payment method. Some can be adjusted within your account settings, while others follow regulatory or network requirements.

Large business payments with Wise 

If you need to send high-value payments to suppliers or partners, Wise supports high-value business transfers with no hidden markups and transparent pricing. Every transfer uses the mid-market exchange rate, so you get the mid-market rate between currencies, keeping costs low, even for large international payments.

Businesses sending or converting over 20,000 GBP in a calendar month automatically qualify for volume discounts, and the higher your total monthly transfer volume, the lower your fees become for any additional transfers during that month. Discounts apply automatically and work across any combination of supported currencies.

High transfer limits also make Wise suitable for large-scale international payments such as payroll, and global settlements. With transparent pricing, volume-based discounts and the mid-market exchange rate, Wise can help reduce overall costs on large transfers compared to banks.

Wise Business reviews

Wise currently holds a Trustpilot score of 4.3 out of 5, based on over 260,000 reviews. Here’s how customers rate Wise Business accounts, what they like and where they see room for improvement.

Positive reviews often highlight:

• A simple, user-friendly platform and app

• Fast, reliable international transfers

• Clear fees and easy client payments

Negative reviews tend to mention:

• Delays during account verification

• Difficulty reaching human support when need

Customer feedback

Positive feedback includes:

“Easy to navigate, very user friendly. I use Wise for my business and clients find ease in the payment method. If I need help they are responsive very quickly. All in all the best bank I have used.”

Positive:

“Whenever I need to make a quick transfer, I use Wise — it’s the only financial service that consistently delivers truly fast international payments. I highly recommend it for any modern business that depends on efficient, real-time money movement.”

However, on the flip side, some customers complain that:

“Verification takes WAY too long. I have been using my Wise business account for a few years now without any issues. Now, they asked for the last 3 invoices from my business, which I provided last Sunday. Apparently though, I'm unable to make a single transfer until they have reviewed the invoices. I don't understand how it can take this many days to review 3 invoices. I have been in contact with the support several times and they keep telling me there is nothing I can do but wait. This is super inconvenient as I really needed to pay an invoice.”

Negative:

“Customer service is non-existent. Strongly advise going elsewhere for a business account. App is easy to use but if you ever find yourself needing to talk to a human for assistance, forget about it, you’re just going to have to navigate their online encyclopaedia of ‘useful’ ‘help’ pages.”

Overall, Wise Business receives high ratings for itseasy-to-use website and app, clear pricing and fast transfers. Most reviewers say it is a reliable choice for handling international payments. However, some business users mention slower verification times and limited access to live support during more complex transfers.

Conclusion: Is the Wise Business account good?

The Wise for business account allows customers to send and receive payments, and handle multiple currencies all in the same place.

There’s a one off fee to activate all account features, with no ongoing charges or minimum balance requirements. Account holders also get time saving features like batch payments and access to the Wise API. Wise is fully FCA regulated and trusted by millions of customers and businesses around the world.

With high per-transfer limits up to 20 million GBP and no defined cap on account holdings for most supported currencies, Wise Business is suitable for both small operations and large-volume corperations.

The Wise business account is especially suited to entrepreneurs and businesses who have customers, contractors and suppliers overseas. Receive payments conveniently with account details for 8 currencies, manage international payroll and supplier charges using the mid-market exchange rate, and withdraw money from ecommerce platforms around the world.

FAQs

Can I trust Wise for Business?

Yes. Wise as a whole has millions of customers and processes billions in transactions every year. They’re regulated by the Financial Conduct Authority in the UK and by other agencies around the world. They use state-of-the-art security to keep all of your information secure, and they have excellent reviews from customers. Learn more about Wise’s safety here.

How safe are my login details when I use Wise for Business?

Wise has strong encryption and security to protect your personal and business information. You can also use two-factor authentication for extra security. You should still use a unique, strong password for your Wise for Business account.

Does Wise have a mobile app?

Yes, the Wise app is available for both Android and Apple devices. The app is fully featured and well-reviewed, scoring 4.7 (Android) and 4.8 (Apple) out of 5. The app is very easy to use and you can make transfers, access your Borderless Account, and manage your Wise debit card.