Wise Business Account Review 2026: Fees, Features and Multi-Currency

Wise Business: What It Is

Wise (formerly TransferWise) is primarily known as an international money transfer service. Wise Business extends this into a multi-currency business account, allowing UK businesses to hold, send and receive money in over 40 currencies from a single account. It is particularly well-suited to businesses with international clients, overseas suppliers or that invoice in foreign currencies.

International Transfers: Wise's Core Strength

Wise uses the mid-market exchange rate for currency conversions, adding a transparent percentage fee rather than a hidden margin embedded in the exchange rate. For businesses that regularly convert between currencies or receive payment in foreign currencies, this typically results in significantly lower costs than a traditional bank.

If you invoice US clients in dollars, for example, Wise provides a US bank account number that US clients can pay into directly -- no international wire transfer required.

Limitations of Wise Business

Wise does not offer invoicing tools. It does not have Spaces or equivalent pots. It is not FSCS-protected. UK domestic bank transfers carry a small fee per transaction. For businesses that operate primarily in GBP with UK clients, Starling or Tide will typically offer a more suitable and lower-cost proposition.

Verdict: Who Should Use Wise Business?

Wise Business is the strongest option for UK sole traders and small businesses with significant international activity -- receiving payment in foreign currencies, paying overseas suppliers, or operating in multiple markets. For primarily domestic UK businesses, Starling or Tide are more suitable as a primary business account. Many internationally-active businesses use Wise Business alongside a UK-focused account.