Alternative Banking Options

Sometimes your client requires an account to move money around that is not a bank. Here are some alternative options:

Invoice payments, 19x cheaper

Pay invoices with the real exchange rate in 70+ countries from your phone or app. 50% of payments are instant or arrive in an hour.

Streamlined payments

All you need is your recipient’s bank details or email. They don’t need a Wise account to get paid.

19x cheaper than PayPal

Research shows it's nearly 19x cheaper on average to send and receive payments with Wise versus PayPal.

Employee and people payments in one click

Save time and money on international payroll, employee reimbursements, or recurring payments.

Make batch payments

Pay up to 1,000 people in one click. Just upload a spreadsheet with details for each transfer and submit one payment.

Save hours on admin

Add team members to your account to help with payments. All past payment info is saved for the future.

Multi-currency banking without the bank

Get all the features you need to bank in another country — regardless of where you’re located. With zero hassle and a one-time fee of 40 NZD.

Sort code, IBAN, and more

Get account details for other countries. So if your client asks for your IBAN or wire number, you’re prepared.

Bank-level security

End-to-end encryption. And your money is safeguarded with top institutions like Barclays.

Get paid and accept payments for less

Receive multiple currencies without high recipient or conversion fees. Convert or move money within Wise Business or withdraw to external accounts with ease.

Secure transactions

We’re partnered with leading financial institutions and regulated by the same authorities as banks.

Works with Stripe and more

Withdraw from online seller or trading platforms using your IBAN or other account details.

Debit cards for business expenses in any currency

Pay expenses online or in-store without foreign transaction fees. Get cards for your team, and monitor spending right from your phone or app.

Spend in any currency

Pay in the local currency to save on conversion fees. It’s way cheaper than other business cards.

Track your team's expenses

Employees can get their own card. No need to use their personal card for business expenses.

Move money between accounts in seconds

Instantly transfer money between businesses, offices, and more — without involving your bank.

Open subsidiary offices

Move between 55+ currencies instantly. Pay mortgages, rent, or bills without a local bank.

Encourage collaboration

Give internal or external team members access to your account, and track activity right from the app.

How much does it cost?

It's free to open your Wise Business account.

There's a cheap, transparent fee to convert between currencies — either in your account or if you spend on your Wise Business Mastercard® in a currency you don't have in your account.

If you want to get international bank details, there's a one-time £12 fee (or equivalent),

When you convert money in your account it's always with the real exchange rate, and you always see our low, transparent fee up front so there's never any surprises. And if you spend on your Business Mastercard in a currency you don't have, it autoconverts the balance with the lowest fee, so you never have to worry.

How do they keep your funds safe?

Wise is an authorised Electronic Money Institution independently regulated by the Financial Conduct Authority (FCA) in the UK.

This means they're required by law to keep your money safe by storing it in a low-risk financial institution - in Europe this is in our UK account with Barclays, in the US this is in our US account with Wells Fargo.

These accounts are reserved for customer money, this means your assets are kept in a separate account from the money we use to run the business.

In the unlikely event Wise ceased to exist, your money would be paid back from this account, ie from Barclays or Wells Fargo, however it is not covered by the Financial Services Compensation Scheme (FSCS) and therefore is deposited at your own risk. You also cannot earn interest on the money in your borderless account.

Millions of customers trust Wise with their money. We move billions every month, and we take the safety and security of your money seriously.

The Wise debit Mastercard is issued by TransferWise Ltd under license by Mastercard International Inc. Mastercard is a registered trademark, and the circles design on the card is a trademark of Mastercard International Incorporated. Wise is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 900507, for the issuing of electronic money.

Does it cost anything to transfer money to another bank account?

There's a small fixed fee to withdraw funds from your Wise Business account to another account in the same currency.

This is the lowest we can charge to cover costs, and we're committed to getting the fee down over time.

How to use it:

• Go to the site or download the XE app (iOS or Android).

• Enter the amount and choose the currencies you want to convert (e.g., NZD to PHP).

• It shows the live rate and converted amount.

• XE also lets you track rate trends, set rate alerts, and transfer money internationally (though the transfer feature works in select countries).

How to use it:

• Sign up for a free account (personal or business).

• Link your bank account, credit, or debit card.

• You can pay online with your PayPal email/password — no need to enter card details each time.

• You can also send money to friends or receive payments for services/products.

• Many online shops accept PayPal as a safe checkout option.

How to use it:

• A business signs up for a Stripe account and connects it to their website or app.

• Stripe provides APIs and tools to handle payments securely.

• Customers can then pay with a credit card, debit card, Apple Pay, Google Pay, etc.

• Funds are transferred to the business’s linked bank account, minus Stripe’s processing fee.