Is a Wise Business Account Worth It? An Account Holder's Review

[@basicsofbiz]

We said we would link to our head to head review of 9 different business bank accounts we have access to and here it is - kzbin.info/www/bejne/hKSagIaseNibbJo. Find out which one we considered to be the best!

[@AidanEyewitness]

Very thorough and useful, thanks.

[@basicsofbiz]

Delighted you found it helpful

[@TMM124]

Can i use Wise, just as conversion money tool and once i received money from clients in $, transfer into Euros so then i can finally transfer to my company banks account? Does we need any invoice to show the rate we did the conversion and does Wise allow this method of use?

[@basicsofbiz]

Yes you can use it like that and that's exactly how I use it for one of my businesses being paid in $ and then transferring into £. Wise generates a receipt recording the rate at the time of transfer which your bookkeeper or accountant can then use to confirm the conversion rate, fees etc. Hope this helps 👍

[@TMM124]

@@basicsofbiz Awesome, thank you very much.

[@graemehay876]

@@TMM124no worries at all 👍

[@iRoute66]

To double check - the debit card that comes with the business account allows online purchases like with a credit card?

[@basicsofbiz]

Yes it does and has the standard 16 digit number, expiry date and CVV number to let you make online purchases as normal. One thing to note also is that if you have credit in multiple currencies in your Wise portfolio account and make a purchase in one currency in which you have insufficient funds it will automatically take money from the other currency account to complete the transaction. (e.g. you have 10 pounds and 10 dollars in your Wise business accounts and make a purchase for 12 pounds. It will take all the 10 pounds and then the rest from the dollars balance at the relevant exchange rate)

[@mTechPenn]

Wise is great until it's not. The customer service is not great. They closed my account and gave me no chance to explain why I was using wise

[@basicsofbiz]

Sorry to hear that, hope you managed to get sorted with another bank quickly. Good luck

[@TheOlderIget]

How about bill payments, have you dont that? I live in Canada, I use Wise for Business, and I was trying to pay my Rogers mobile bill or send money to CRA and found no way to do this. Any idea how / if this can be done?

[@basicsofbiz]

Have used it frequently for bill payments and never had an issue either paying using the business debit card or transferring directly from the relevant currency account itself. Did Wise send you a card when you opened your account?

[@Sam-pn2kc]

I use wise a lot to pay my rent in Poland.Wise just makes everything easy. I use the card for shopping and that morning costa coffee. and free transfers to my wife's wise account its. winner

[@basicsofbiz]

Thanks for the feedback Sam. Are you using your Wise card for personal or business use?

[@TheBlindChef]

I just got Wise for our patients in our business-