TransferGo vs. Wise Business: The Best Choice for U.S. Businesses in 2025

Whether you are paying international suppliers, hiring remote talent, or receiving payments from overseas clients, you need a financial partner that is fast, affordable and transparent. Two major players in the international business payments space are TransferGo and Wise Business.

This guide breaks down the TransferGo vs. Wise Business comparison. We will explore their key features, fee structures, and ideal use cases to help you decide which platform is the best fit.

Discover Wise Business: Simplify Your International Finances
Wise makes it easier to manage your business finances. You can manage everything from one app, there are no monthly fees, and international payments use the mid-market rate. It also integrates smoothly with accounting software to keep your operations running efficiently.
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Table of contents

TransferGo vs. Wise Business: Quick Overview TransferGo vs. Wise Business: Key Features TransferGo Business Features Wise Business Features Key Differences Between TransferGo and Wise Business Comparing Costs Between TransferGo and Wise Business Fees and Exchange Rates Payment Methods and Accessibility Which Platform is Best For Your Business? Use Cases for Wise Business Use Cases for TransferGo Frequently Asked Questions (FAQs)

TransferGo vs. Wise Business: Quick Overview

TransferGo vs Wise Business: Quick Overview

	TransferGo	Wise Business
Key features	Fast, simple international transfers Fixed transfer fees Multiple delivery speed options Payouts to cards and bank accounts	Mid-market exchange rates and transparent fees Hold account details in various currencies Fast peer-to-peer international transactions Access to Batch Transfer
Main fees	Fixed fee per transfer based on speed Varying markup on the exchange rate	No monthly fees No minimum deposit
Great for	U.S. businesses which need to make direct payments to international vendors or employees without holding foreign currency balances	U.S. businesses that need to hold, manage, pay international teams, and spend in multiple currencies

When choosing a financial service, the features offered are critical. Here’s a detailed look at the tools and functionalities each platform provides.

TransferGo vs. Wise Business: Key Features

TransferGo Business Features

Simple International Transfers: The core of the TransferGo business account is making a TransferGo international business transfer as easy as possible. The user interface is clean and guides you through the process of sending money from the U.S. to more than 60 countries.¹

**Variable Delivery Speeds: **You can choose from standard delivery (often next business day), cheap delivery (up to 3 business days), or faster options for a higher fee. This allows businesses to balance cost against urgency.

Batch Payments: For businesses that need to pay multiple recipients, such as a team of international freelancers, TransferGo allows you to upload a single file to execute numerous payments at once.

Wise Business Features

Wise Business offers a more comprehensive financial toolkit designed for global businesses. The Wise Business account is a cost-effective way for US businesses to send international transfers and get paid from abroad in multiple currencies. Conversions also take place at the mid-market exchange rate. This account adds features and tools that are helpful for business use. You can also get a Wise Multi-Currency card for business, and employee expense cards. These features make it easier to run your business, organize finances, cut costs, and get paid on time.

Wise Business also includes several additional features to benefit both US-based and international businesses:

• Free invoicing tool
• Request business payments with payment links
• Quickbooks connection (as well as integrations with other popular accounting softwares)
• Interest feature
• With a Wise Business account you can also use BatchTransfer to make multiple international transfers with just one payment.

Open a Wise Business account in minutes

Key Differences Between TransferGo and Wise Business

The fundamental difference lies in their core function. TransferGo is built to send money from point A to point B efficiently. Wise Business, on the other hand, is a full-fledged international banking alternative. You can send, receive, hold and spend in multiple currencies from a single, integrated platform.

Now for the most important part: the cost.

Comparing Costs Between TransferGo and Wise Business

Fees and Exchange Rates

	TransferGo	Wise
Setup fee	None	Registering a Wise account is free. There is a one-time setup fee of $31 to access all Wise Business features, including getting account details to receive money in 24 currencies.5
Transfer fee	A fixed fee is charged for each transaction. This fee can vary depending on the destination country and the delivery speed you select.	Wise charges a small, variable conversion fee from 0.57% plus a small fixed fee that depends on the payment method. All fees are shown upfront before you commit to the transfer.5
Exchange rate	TransferGo uses an exchange rate with a small markup, typically ranging from 0.5% to 2.5% over the mid-market rate.3	Wise always uses the mid-market exchange rate, the one you see on Google, with no markup.5

Payment Methods and Accessibility

Both platforms allow U.S. businesses to fund transfers using a bank debit, wire transfer, or debit/credit card. Payouts can be made directly to a recipient's bank account. They also allow you to receive ACH, SWIFT, and, in the case of Wise Business, payments from an existing Wise account balance.

The right choice in the TransferGo vs. Wise Business debate depends on your business model and operational needs.

Wise Business Could Help Your Company Save on Global Payments

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Which Platform is Best For Your Business?

Use Cases for Wise Business

Wise Business is a great choice for U.S. businesses that:

Receive payments from international clients: Getting local bank details means you can invoice and get paid like a local, avoiding costly SWIFT fees and poor exchange rates.⁵

Pay a global remote team: The batch payments feature is ideal for payroll. You can pay freelancers or employees in their local currency from a single platform.⁵

Hold foreign currency: If you have recurring expenses in another currency (like paying a supplier in EUR every month), you can hold a EUR balance in your Wise account and pay directly from it, avoiding repeated conversion fees.⁵

Need accounting automation: For businesses using QuickBooks or Xero, the direct integration is a powerful time-saver that simplifies financial management.⁵

Use Cases for TransferGo

A TransferGo business account is a good option for U.S. businesses that:

Make occasional, one-off payments: If your international needs are limited to paying a few invoices to overseas suppliers per month, TransferGo is a good option.

Need to send money to countries not extensively covered by other services: TransferGo has a strong network, particularly in Europe, and may offer payment corridors that are more competitive in specific regions.⁶

Still have questions? Here are the answers to some common queries about TransferGo and Wise Business.

Save Time and Money On Overseas Payments With Wise Business

Wise Business can help you save big time on international payments.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies.

Signing up to Wise Business allows access to BatchTransfer which you can use to pay up to 1000 invoices in one go. This is perfect for small businesses that are managing a global team, saving a ton of time and hassle when making payments.

Some key features of Wise Business include:

• Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers

• Global Account: Send money to countries and hold multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local

• Access to BatchTransfer: Pay up to 1000 invoices in one click. Save time, money, and stress when you make 1000 payments in one click with BatchTransfer payments. Access to BatchTransfer is free with a Wise Business account

• Auto-conversions: Don't like the current currency exchange rate? Set your desired rate, and Wise sends the transfer the moment the rate is met

• Free invoicing tool: Generate and send professional invoices

• No minimum balance requirements or monthly fees: US-based businesses can open an account for free. Learn more about fees here

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Frequently Asked Questions (FAQs)

Are TransferGo and Wise Business safe to use for my U.S. company?

Yes, both companies are regulated financial institutions. In the United States, they are registered with the Financial Crimes Enforcement Network and use industry-standard security measures to protect your funds and information.⁷

Can I use these platforms to run payroll for international employees?

Both platforms can be used to pay your international employees or contractors, especially with their batch payment features. However, they are not full-service payroll providers. As a U.S. employer, you are still responsible for local labor laws in the country where your employee resides. These platforms solve the currency conversion and payment delivery part of payroll, but not the legal or administrative compliance.

How does a TransferGo USA account work?

For a U.S. business, you sign up for a TransferGo business account online. You then initiate a transfer by entering the recipient's details and the amount you want to send. You fund the transfer from your U.S. bank account or wire transfer. TransferGo handles the currency conversion and delivers the funds to your recipient's bank account abroad.⁸

What is the biggest advantage of the Wise Business multi-currency account?

Its biggest advantage is letting you operate like a local business in other countries. Wise provides local bank details, so a client in Europe can pay you via a simple local transfer. This avoids expensive wire fees, and you can then hold, spend or convert the funds as needed.

Which service is generally faster?

Speed depends on the destination country, the currencies involved, and the service level you choose. Both TransferGo and Wise offer near-instant transfers on many popular currency routes. TransferGo explicitly lets you pay more for speed, while Wise's speed is often determined by local payment systems, with most payments arriving in under 20 seconds. For most major currencies, both can deliver funds on a same-day basis.

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Sources:

1. Wise vs TransferGo Business: Which is better for your business? | Instarem
2. Wise vs TransferGo | Vance
3. Nationwide international transfers | TransferGo
4. OFX vs Wise (Wise): Which one is the better option? | Tipalti
5. Fees | Wise
6. TransferGo vs Wise | Money Transfer Comparison
7. How it works | Transfer Go
8. Wise Payments | The Banks.EU