Wise Business
Multi-currency money platform (an EMI / licensed money transmitter — NOT a bank) giving US LLCs local USD account details plus 40+ currencies; strong for non-residents who can't prove US presence.
Last verified: June 15, 2026
Key Facts
Data sourced from official vendor pages. See claims table below for individual sources.
Pricing
| Plan | Price | Billing | Includes |
|---|---|---|---|
| Business Account | $0 | monthly | Multi-currency account, USD/EUR/GBP account details, 40+ currencies... |
Pros
- No monthly fees—pay only for transactions
- Multi-currency accounts (40+ currencies)
- No SSN required for verification
- Lower fees for international transfers than banks
Cons
- Not a traditional bank—e-money institution
- No lending or credit products
- SWIFT receive fee ($6.11 for USD)
Who Should NOT Use Wise Business
- Founders who need a traditional US bank for credibility
- Those who need business loans or credit lines
- Crypto exchange businesses (prohibited by Wise)
Alternatives to Wise Business
Frequently Asked Questions
Is Wise Business a real bank account?
Wise Business provides multi-currency accounts with local account details (USD, EUR, GBP, etc.), but it's not a traditional bank. It's an e-money institution regulated in multiple jurisdictions.
Can I use Wise Business without an SSN?
Yes, Wise accepts passport or national ID for verification. No SSN is required for non-US residents.
What are Wise Business fees?
Wise has no monthly fee. You pay only for currency conversion (varies by pair) and receiving SWIFT transfers ($6.11 for USD).
Can I receive USD payments with Wise Business?
Yes, Wise Business provides US ACH account details so you can receive USD payments domestically. SWIFT receives are also supported.
Is Wise good for crypto businesses?
Wise does not support crypto exchange businesses. Check their prohibited activities list if your business involves significant crypto transactions.
Data Sources
Every fact on this page is backed by a source. Here are the claims we've verified:
| Claim | Value | Status | Last Checked |
|---|---|---|---|
| Wise Business has no monthly fee; one-time fee to open US/major-currency account details | 31 USD one-time | Verified | Jun 15, 2026 |
| Wise accepts non-US residents with EIN + passport, no SSN; not a bank (EMI) | true | Verified | Jun 15, 2026 |
| Wise is not FDIC-insured; funds safeguarded in segregated accounts (optional pass-through FDIC on opted-in eligible USD) | true | Vendor Claimed | Jun 15, 2026 |