Wise Business review: Features, fees & more [2026]
Last update:
In this Wise review, we take a look at its main features, fees, and multi-currency support in South Asia, plus how it compares with WorldFirst
Key takeaways
- Wise offers separate personal and business accounts for international payments
- Wise Business accounts in India are receive-only and cannot send or hold funds
- In Pakistan and Bangladesh, Wise Business is not available–only personal accounts are supported
- Wise does not currently offer business payment cards in the South Asian markets
- WorldFirst is a Wise alternative that supports sending, receiving, holding and converting multi-currency funds
Wise is an international payment provider that helps users send and receive money across multiple currencies.2
Wise Business accounts in India are receive-only, meaning businesses can receive international payments but cannot hold balances or send funds.3 In Pakistan and Bangladesh, Wise Personal accounts are available mainly for sending money abroad, but Wise Business accounts with multi-currency support are currently unavailable.
This review explores Wise Business’s features, fees, and global payment capabilities. It also takes a look at how Wise stacks up against WorldFirst to help businesses choose the right cross-border payment solution.
What is Wise?
Wise (formerly known as TransferWise) is a global payments provider that helps businesses and individuals manage their international money transfers.2 Wise Business specifically helps global businesses receive international payments by setting up multi-currency accounts.3
→ If you are looking for more payment providers that support multi-currency accounts in South Asia, check out the top Wise alternatives
Quick look: Pros and cons of Wise
| Pros | Cons |
|---|---|
|
|
Wise fees: The breakdown
Take a look at the fees for using Wise:
| Fees | Wise1 |
|---|---|
| Monthly fee | Zero |
| Opening a multi-currency account | Zero |
| Receiving funds | Free for most local payments; SWIFT and USD wire fees may apply |
| Holding funds in multiple currencies | Not supported |
| Sending payments to other users in the same network | Not supported |
| Sending payments to other accounts | Not supported |
| Converting currencies | Not specified |
| 1688 payments | Not supported |
| Getting a card | Not supported |
*Fees checked in May 2026. Wise fees vary by market and currency route
How does Wise work?
Businesses can open a Wise account and set up multiple local currency accounts.
For each virtual currency account, users get an account number and bank code. These bank account details can then be used to accept payments in multiple currencies.3 Once the payment arrives, Wise converts the funds and deducts a conversion fee.
Features of Wise Business
Multi-currency account
Wise accounts in India can receive payments in 8+ currencies, including USD, GBP, EUR, SGD, and AUD, but accounts are receive-only with no way to hold or send funds.3
In Pakistan and Bangladesh, Wise Business isn’t available. Only personal accounts are available in these regions which only allow users to send money.
Multi-currency cards
Wise business cards are not available in India, Pakistan, or Bangladesh yet, even though they are available in other regions.
Accounting integrations
How to open a Wise account
- Create an account: Sign up through Wise and choose either a personal or business account.
- Complete verification: Businesses may need to provide identification documents, bank details and company verification documents depending on the business structure.
- Get receiving details: Once verified, users can access local account details for supported currencies and start receiving international payments.
The Wise alternative: WorldFirst
WorldFirst is an international payments provider that helps businesses manage cross-border payments. The World Account is its core product, which is a multi-currency account that supports sending, receiving, holding and converting funds across 15+ major currencies, with no monthly fee and zero fees on receiving.
Some of the World Account’s main features:
Local currency receiving accounts: The World Account includes dedicated local currency accounts in major currencies like USD, GBP, EUR, AUD and CNH. Each account comes with its own local bank details, so customers and marketplaces can pay you just like a local. Funds land in the original currency with no automatic conversion on receipt.
Marketplace and gateway integration: You can connect your World Account to 130+ global marketplaces and payment gateways, including Amazon, Etsy and Stripe, so payouts can land directly into the matching local currency account.
Payments to China through World Pay: World Pay is the authorised international payment provider for 1688.com, supporting direct CNH payments to 1688 suppliers from the World Account, without needing a Chinese bank account.
Multi-currency virtual card: The World Card is a Mastercard-powered virtual card supported in 150+ currencies. Up to 20 cards can be issued at zero issuance cost, with no fees when paying in any of the 15 supported currencies (with sufficient balance held in that currency).
Batch and recurring payments: You can pay multiple suppliers at once through Excel batch uploads, or set up recurring payments for regular international transactions and supplier payouts.
Account-to-account transfers: Transfers between World Account holders are free and instant, useful for businesses moving funds between partners, teams or other businesses using the same network.
WorldFirst vs Wise Business: Fee comparison
| Fees | Wise1 | WorldFirst |
|---|---|---|
| Monthly fee | Zero | Zero |
| Opening a multi-currency account | Zero | Zero |
| Receiving funds | Free for most local payments; SWIFT and USD wire fees may apply | Zero |
| Holding funds in multiple currencies | Not supported | Zero |
| Sending payments to other users in the same network | Not supported | Free and instant |
| Sending payments to other accounts | Not supported | 1.5% standard fee for Pakistan and Bangladesh |
| Converting currencies | Not specified | 1.5% standard FX fee |
| 1688 payments | Not supported | Up to 0.8% conversion fee for 1688 payments |
| Getting a card | Not supported | Zero for up to 20 cards |
*Fees checked in May 2026.
FAQ
Can you open a multi-currency account with Wise in South Asia?
Most Wise multi-currency accounts are receive-only in most South Asian countries like India. But in countries like Pakistan and Bangladesh, Wise Business is unavailable.
Can you send/receive payments to/from China from Wise?
Does Wise offer a business card in South Asia?
Wise does not currently offer a business payment card for Business users in India, Pakistan or Bangladesh.
What currencies does Wise Business support in India?
Sources:
- https://wise.com/in/pricing/business
- https://wise.com
- https://wise.com/in/business/receive-money
- https://wise.com/in/send-money/send-money-to-china
This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.
Hu Wenzhan is the Emerging Markets Country Manager at WorldFirst. He brings expertise across Fintech, Payments, Banking, New Markets Growth to help clients grow their global business.
Hu Wenzhan
Author
Continue reading
Subscribe
The Weekly Dispatch
Get the latest news and event invites. Signup for our weekly update from the worlds of fashion, design, and tech.
You might also like
Choose a product or service to find out more
