5 Alternatives to Wise Business Account

A Wise Business account is a popular choice for international transactions, but there are other providers in the market.

Below, we look at these options in detail to simplify buying decisions for you. We cover features, fees, currencies supported and user ratings as our criteria. We'll also discuss the Wise Business account. The global account that can help your company with all things cross-border.

Do you send and receive global payments?

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Wise Trustpilot Score: 4.3 stars on 230,000+ reviews
No minimum balance requirement and no monthly fees
Integrates with QuickBooks, Xero, Sage, and more

What Wise Business Offers

The Wise Business account is designed for business use. 600,000 business customers already use Wise Business each quarter. Most types of US businesses can use Wise Business. This includes:

• Freelancers and sole traders.
• Limited and public companies large or small.
• Partnerships.
• Charities and trusts in certain countries. (Including the UK, EEA countries, Switzerland, US, Canada, Australia, and New Zealand).

Wise Business caters to business needs, with many additional features over the personal account. It’s easier to manage and control money, conduct reconciliations and audits, and produce and manage invoices and payments.

Some key features of Wise Business in the US include:

Better visibility and organization of business finances. This is helpful for account reconciliations and audits. Administration controls for users. It’s possible to allow team members to carry out specific tasks. Receive payments from e-commerce platforms (such as Amazon or via Stripe). Free invoicing tool for business account holders only, to generate and send invoices. Create professional invoices using the Wise invoice generator or invoice templates. Features for bill payment, including a QuickBooks Bill Pay connection. Bill payments will be synced, matched, and categorized in QuickBooks for simple reconciliation. Access to BatchTransfer: Signing up to Wise Business allows access to BatchTransfer which you can use to pay multiple invoices in one go.

A crucial point for businesses is that you can also receive payments from international customers with ease. You get access to local account details for a simple one-time fee. This means your customers can pay in their local currency - without having to worry about bad exchange rates.

The business account can also cut the costs of doing business overseas, leaving more of your hard-earned profit intact.

You can also read the full article to find out if you can use Wise as a business account.

A Comparison of Alternatives to Wise Business Account

Each platform brings its own strengths to the table. Some are suited for startups moving fast across borders, others are better for established companies handling complex payment flows.

The goal is not to replace Wise with a mirror image but to weigh the options that go with your business needs. Let’s explore.

Revolut

Trustpilot Rating: 4.6¹

Revolut has grown into one of the most widely used finance platforms worldwide, with more than 60 million users.² Individuals and businesses can use Revolut to send and receive money internationally and handle multiple currencies with ease.

The platform also provides physical and virtual debit cards, which allow companies to set controls on spending while earning points that can be redeemed for rewards like airline miles.

Besides payments, Revolut also offers interest-bearing savings accounts and investment access to thousands of stocks and commodities. Plus, it provides advanced account security through the Revolut Secure System.

Users can manage everything in one app, from international transfers to investments. So, it’s a versatile option for daily operations.

Fees

Revolut offers three paid plans:³

• Standard: At $0 per month, you get access to money transfers, card customization and no-fee currency exchange in 25+ fiat currencies (up to $1,000 per month).
• Premium: The plan costs $9.99 per month and offers purchase protection, extended savings features, higher limits for spending abroad, trip delay expense coverage and unlimited single-use virtual cards.
• Metal: At $16.99 per month, the plan comes with an exclusive stainless steel card, stronger travel protections such as baggage and trip cancellation coverage plus discounted airport lounge access.

Currencies Supported

AED, AUD, BGN, BRL, CAD, CHF, CLP, CNY, COP, CZK, DKK, EUR, GBP, HKD, HUF, ILS, IDR, INR, JPY, KRW, LKR, MXN, MYR, NOK, NPR, NZD, PHP, PLN, RON, SAR, SEK, SGD, TRY, THB, USD, VND, ZAR⁴

Wise Business vs. Revolut >>

PayPal

Trustpilot Rating: 1.3⁵

PayPal connects millions of businesses and consumers globally through a single platform designed to power commerce. Companies can accept payments from around the world, offer customers choice in how they pay and access a network of up to 400 million active accounts.⁶

Its checkout supports no-code solutions, online processing and enterprise payments. PayPal also provides financial tools and payout solutions that help companies scale.

Risk management and fraud protection are built into the platform, alongside seller protection and reporting tools to support compliance. Mass payouts further let businesses handle growth seamlessly.

Fees

PayPal charges fees based on the type of transaction, payment method and currency.⁷

• Domestic Commercial Transactions: The standard rate is 2.99% to 3.49% + a fixed deposit fee depending on the payment channel. QR code transactions are lower at 2.29% + fixed fee, while Pay Later payments are higher at 4.99% + fixed fee.
• International Transactions:: PayPal applies the domestic rate plus 1.50%, along with a fixed fee based on the currency received.
• Invoicing: It follows the same structure, typically 2.89% to 3.49% + fixed fee for domestic payments, plus the 1.50% surcharge for cross-border transfers.

Currencies Supported

USD, AUD, BRL, CAD, CNY, CZK, DKK, EUR, HKD, HUF, ILS, JPY, MYR, MXN, TWD, NZD, NOK, PHP, PLN, GBP, SGD, SEK, CHF, THB⁸

Compare the Cost of Sending Money across Borders with PayPal vs. Wise Business

Wise Business vs. PayPal >>

Airwallex

Trustpilot Rating: 3.7⁹

Airwallex is a global financial platform made for companies that need to manage money across multiple markets. Its business account allows users to open local currency accounts in more than 20 currencies and make transfers to over 200 countries. Interbank exchange rates are also accessible on the platform.¹⁰

Plus, Airwallex issues multi-currency corporate cards, offers bill pay and expense management tools and integrates with accounting software like Xero and QuickBooks. The platform also provides APIs for embedded finance, card issuance and programmatic payments.

Fees

Airwallex has three paid plans.¹¹

• Explore: The Explore plan is free, and lets you open multiple global business accounts, hold funds in 20+ currencies, send free batch transfers to 120+ countries and access interbank FX rates.
• Grow: At $99 per month, you get everything in Explore, plus advanced spend management features like customizable multi-conditional approvals, rules-based bill automation, approval workflows for vendors, remittance advice and purchase orders.
• Accelerate: The plan includes all Grow features plus advanced enterprise capabilities, dedicated onboarding assistance and custom API implementation. Custom pricing is available.

Currencies Supported

130+ currencies supported, including USD, EUR, GBP, CAD, AUD, JPY, CNY, HKD, SGD, NZD, CHF, SEK, NOK, MXN, INR¹²

Wise Business vs. Airwallex >>

Payoneer

Trustpilot Rating: 3.8¹³

Payoneer helps businesses simplify cross-border payments by supporting over 190 countries and 70 currencies.¹⁴ With one account, you can connect to marketplaces, networks and clients globally.

Payments between Payoneer customers are quick, while the platform also integrates with major marketplaces like Fiverr and Upwork. Playoneer also offers local receiving accounts in multiple currencies and automatic fee handling.

It’s quite easy to manage and use your funds with Payoneer. You can withdraw to your local bank account, pay suppliers and contractors or spend with the Payoneer Business debit card. All fees are deducted automatically for transparency.

Fees

Payoneer charges according to the payment type.¹⁵

• From Another Payoneer Account: Free
• From Clients: There’s a 3.99% (+ $0.49 in some regions) fee for credit cards, 1% for ACH bank debit (U.S. only) and 3.99% + $0.49 for PayPal (U.S. only).
• From Marketplaces: Fee is set by each partner.
• Via Receiving Accounts: It’s free when paid in the local currency of your primary location. A fixed fee or 1% fee is charged for all other currencies.

Currencies Supported

70+ currencies supported, including USD, EUR, GBP, CAD, AUD, JPY, CNY, HKD, SGD, NZD, CHF, SEK, NOK, DKK, PLN, CZK, MXN, BRL, INR, AED, SAR, PKR, ZAR, THB, PHP, IDR, VND¹⁶

Wise Business vs. Payoneer >>

OFX

Trustpilot Rating: 4.4¹⁷

OFX is a comprehensive financial platform for international businesses. Its Global Business Account consolidates payments, FX management and spend controls in one hub.

Companies can issue corporate cards in 30+ currencies, manage expenses with receipt capture and set approval workflows for bills and payables.¹⁸

Integration with tools like Xero and QuickBooks makes reconciliation smoother, while FX solutions such as Spot Transfers and Forward Contracts give businesses more control over rates. The platform reaches 170+ countries and supports 50+ currencies to reduce complexity in global operations.

Fees

OFX doesn’t have any set fees, as they differ based on market rates.

• Exchange Rates: OFX applies a margin on top of wholesale market rates. The margin varies depending on the currency pair and transaction size. For example, at the time of writing this article, 100 USD was equal to 84.92 EUR at the following exchange rate: 1 USD = 0.849197 EUR.¹⁹
• Transfers: There are no fixed OFX transfer fees for most payments. However, intermediary or beneficiary banks may deduct charges when SWIFT networks are involved.²⁰
• Corporate Cards and Accounts: Costs are disclosed at the time of issuing or transacting, with spending controls available to reduce unnecessary fees.

Currencies Supported

50+ currencies supported, including USD, EUR, GBP, CAD, AUD, JPY, CNY, HKD, SGD, NZD, CHF, SEK, NOK, MXN, INR, AED, SAR, ZAR, TRY, KRW²¹

Wise Business vs. OFX >>

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Learn How Wise Can Help Your Global Business

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Frequently Asked Questions

What is the best alternative to Wise?

The best alternative to Wise depends on your needs. Some good options include Payoneer, Revolut, PayPal, OFX and Airwallex. These platforms may suit businesses looking for POS devices, crypto currencies, or FX forwards.

When to use alternatives to Wise Business Account?

Wise Business Account alternatives are suited for businesses that require features Wise doesn’t emphasize, such as credit cards and certain business integrations.

How do fees compare between Wise and its competitors?

Fees vary by service. Wise offers transparent mid-market rates, while providers like OFX use exchange rate margins. Payoneer charges up to 3.99% for card payments, Airwallex often promotes low or zero transaction fees for certain transfers and other platforms have monthly payment plans.

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Sources:

1. Revolut | Trustpilot
2. Home Page | Revolut
3. Choose your perfect Revolut plan | Revolut
4. Supported currencies and countries to send money | Revolut
5. PayPal | Trustpilot
6. PayPal Open | PayPal
7. PayPal Merchant Fees | PayPal
8. PayPal Supported Currencies | PayPal
9. Airwallex | Trustpilot
10. Home Page | Airwallex
11. Let’s choose a plan that fits your business needs | Airwallex
12. Supported Currencies | Airwallex
13. Payoneer | Trustpilot
14. Home Page | Payoneer
15. Payoneer Fees | Payoneer
16. Supported Currencies | Payoneer
17. OFX | Trustpilot
18. Home Page | OFX
19. Exchange Rates | OFX
20. Rates and fees | OFX
21. What currencies can I make a transfer with OFX? | OFX