Wise Business
Multi-currency account for global freelancers.
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Wise Business (formerly TransferWise Business) is the gold standard for freelancers who work with international clients. You get local bank account details in 10+ currencies (USD, EUR, GBP, AUD, SGD, and more), the real mid-market exchange rate on conversions, and very low transfer fees.
Our Scores
4.4
Ease of Use
4.7
Features
4.5
Value
4.0
Support
Pros & Cons
Pros
- ✓Hold 50+ currencies in one account
- ✓Local bank details in 10+ countries (USD, EUR, GBP, etc.)
- ✓Uses real mid-market exchange rate — no markup
- ✓Low, transparent transfer fees
- ✓No monthly fee on the basic plan
Cons
- ✗Not a full business bank account — no business loans
- ✗Customer support can be slow to respond
- ✗Some features require account verification that takes days
- ✗Not all currencies have local account details
Best For
- →Freelancers with international clients
- →Expat Americans receiving foreign payments
- →Anyone who needs multi-currency accounts
- →Freelancers who want the best exchange rates
Not Ideal For
- ✗Freelancers who only work with US clients
- ✗Anyone needing a primary US business bank account
- ✗Those needing cash deposits or ATM access
Pricing
Wise Business
Free
- ✓50+ currency accounts
- ✓Local bank details in 10+ countries
- ✓Real exchange rate
- ✓International transfers
- ✓Business debit card
Frequently Asked Questions
Can US freelancers use Wise Business?
Yes. US freelancers can open a Wise Business account to receive payments in foreign currencies, convert them at mid-market rates, and send money internationally with low fees.
Does Wise replace a business bank account?
Wise is not a full business bank account. It is best used alongside a US business bank (like Relay or Mercury) to handle international payments.
How does Wise compare to Revolut for freelancers?
Wise consistently offers better exchange rates and is more transparent about fees. Revolut offers more business features (expense cards, team access) but at higher cost. Wise wins for pure currency conversion.
Other Banking Options
Tax Information Notice
This content is for informational and educational purposes only. It does not constitute tax, legal, or financial advice. Tax laws change frequently. Always consult a qualified CPA or Enrolled Agent for your specific situation.