🏦 Wise Business review: Our complete analysis for 2026
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Wise Business is a very popular solution for companies that work internationally. Its promise of low exchange fees and transparency is appealing. But is this account truly suitable for French small and medium-sized businesses (SMBs) with growth ambitions?
Heropay explains whether Wise is suitable for your business or not:
It's a high-performing solution for your international payments and transfers, but the account comes with a Belgian IBAN (BE), which can complicate your administrative procedures.
Its model has no monthly subscription, with a one-time fee and per-operation costs.
It offers no financing or overdraft, which can hinder your company's development.
Your cash flow is not interest-bearing, which represents a loss of potential earnings for your business.
It's a good option for international freelancers, but incomplete for a growing French small business.
Heropay is the alternative that also finances your growth and provides a return on your cash flow.
A quick overview of Wise Business
Wise, formerly known as TransferWise, was created in 2011 in the United Kingdom. Its initial goal was to simplify and reduce the cost of international money transfers for individuals.
The company then extended its offering to professionals with Wise Business.
Wise is not a bank, but an electronic money institution. Its positioning is very clear: to be the most transparent and cost-effective solution for global financial management, using the real exchange rate.
What is the pricing for Wise Business?
The pricing model for Wise Business is radically different from its competitors. There is no monthly subscription. Pricing is based on usage.
One-time opening fee: A payment of €50 is required upon registration to activate professional features and obtain international bank details.
Wise Business debit card: The first card is free.
Receiving money: It is free to receive money in 9 currencies (EUR, USD, GBP, etc.) thanks to the provided local bank details.
Transfers and payments:
Currency conversion: Variable and transparent fees (starting from 0.43%) are applied to each conversion, always at the real exchange rate.
Payment in a currency you already hold: Free.
ATM withdrawals:
Free: 2 withdrawals per month, up to a limit of €200.
Paid: Beyond that, each withdrawal costs €0.50 + 1.75% of the amount exceeding €200.
What are the key features of Wise Business?
The Wise Business ecosystem is entirely focused on international operations.
Multi-currency account: You can hold and manage over 40 different currencies in a single account.
Local bank details: Wise provides you with local account numbers (IBAN for the Euro, routing number for the US dollar, etc.) in 9 major currencies. This allows you to receive payments like a local company, free of charge.
International Mastercard debit card: It allows you to spend in the local currency at no extra cost if you already hold that currency in your account.
Mass payments: You can send up to 1,000 payments at once, which is very convenient for paying freelancers or suppliers abroad.
Team expense management: It is possible to provide debit cards to your employees with customizable spending limits.
Accounting integrations: Automatic synchronization is available with software like Xero and QuickBooks.
The pros and cons of Wise Business
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Use case: A small e-commerce business facing the limits of Wise Business
To illustrate the limits of Wise, let's take the concrete case of Judith, who runs a home decor brand. She pays her suppliers in Asia (in USD) and sells mainly in France.
Wise is effective for her currency payments, but three major problems are hindering her growth:
The need for financing. To order stock before the holidays, Judith is stuck. Wise offers no credit or cash advance.
Heropay Solution: Judith could have obtained instant financing to pay her suppliers, without going through a bank and without complex paperwork.
The profitability of her cash flow. The money from her sales sits dormant in her Wise account, earning nothing.
Heropay Solution: Her cash flow would have earned up to 5% interest, turning her positive balance into an additional source of income.
Administrative friction. Her Belgian IBAN (BE) complicates her dealings with URSSAF (the French social security contributions agency).
Heropay Solution: She would benefit from a French IBAN (FR), simplifying all her local procedures.
Analysis: Wise is an excellent tool for international payments, but it does not meet the needs of a growing French small business. To finance its growth and optimize its profitability, a complete solution like Heropay is necessary.
The 3 best alternatives to Wise Business
Wise is an international specialist, but other players offer more complete packages for French small and medium-sized businesses.
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(Note: N26 Business, Vivid, Wallester, and Sogexia are also alternatives, but they do not all offer a French IBAN or share capital deposit, weaknesses they share with Wise for companies based in France).
Our final verdict on Wise Business
Wise Business is a relevant and highly effective solution for businesses and freelancers whose main activity is heavily focused on international operations.
If your primary need is to send and receive money in different currencies at the lowest cost, Wise remains a good option.
However, for a growing French small or medium-sized business, its limitations are a major drawback. The lack of financing, interest-bearing cash, and a French IBAN make it an incomplete solution that often needs to be supplemented by another account.
Heropay: The alternative designed for growing businesses
Where Wise focuses solely on transactions, Heropay was designed to be a true growth partner for French companies.
Judith, our e-commerce entrepreneur, couldn't use her Wise account to finance her stock. With Heropay, she could have obtained instant financing to pay her suppliers and prepare for her season without stress.
Furthermore, the cash she earns in euros would no longer sit dormant. According to Heropay, providing a return on available cash is a clear way to support entrepreneurs. With an interest rate of up to 5%, every euro in the account contributes to the company's profitability.
According to Heropay, by combining a French IBAN, share capital deposit, financing facilities, and interest-bearing cash, Heropay offers the complete solution that growing entrepreneurs are looking for.
Your questions about the Wise Business pro account (FAQ)
Is Wise a real bank?
No, Wise is not a bank but an electronic money institution. Your funds are protected by a "safeguarding" mechanism (separated from the company's funds), but you do not have access to traditional banking products like credit or overdrafts.
Is the Wise IBAN French?
No, for a euro account opened in France, Wise provides a Belgian IBAN (starting with BE). Although IBAN discrimination is illegal in Europe, this can sometimes cause friction with the French administration.
What are the hidden fees of Wise?
Wise is known for its high level of transparency. There are no "hidden fees" in the strict sense. However, its "pay-as-you-go" model means that the total cost depends on your activity. You need to keep a close eye on conversion and withdrawal fees, which can add up.
How is Heropay a better alternative to Wise for an e-commerce small business?
For an e-commerce small business, Heropay meets critical needs that Wise ignores: financing for stock and marketing campaigns through cash advances, and the monetization of idle cash through interest-bearing cash flow. The French IBAN also simplifies administrative management in France.