Pros
- Account details in 22 currencies for one $31 set-up fee
- Free to receive USD ACH payments
- Currency conversion from 0.23%
- Multi-currency debit cards for the team
- Batch payments to up to 1,000 recipients
Cons
- Not an FDIC-insured bank
- $6.11 to receive each USD wire
- Best as a second account next to a US business checking account
Wise Business at a glance
| Monthly fee | No monthly fee; $31 one-time for account details |
|---|---|
| Minimum balance | None |
| Interest | 3.4% variable on USD (opt-in Interest) |
| FDIC coverage | Not a bank; pass-through FDIC up to $250K on interest funds only |
| ATMs & cash | Free ATM withdrawals up to $250/month |
| Wires | Receive USD wires $6.11; ACH in free; conversion from 0.23% |
| Non-US owners | Check Wise’s availability page |
Good fit if you are…
- LLCs paid in EUR, GBP or other currencies
- Owners who move money between the US and home country
Look elsewhere if you are…
- Anyone needing FDIC coverage on all balances
Wise Business alternatives
| Provider | Price | Best for | Link |
|---|---|---|---|
| Mercury | $0/mo | Free wires · non-US founders · startups | Visit Mercury |
| Relay | $0/mo (Grow $30, Scale $120) | Profit First · up to 20 accounts · cash deposits | Visit Relay |
| Bluevine | $0/mo (Plus $30, Premier $95) | Interest on checking · credit line | Visit Bluevine |
| Novo | $0/mo | Simple free account for US-based owners | Visit Novo |
| Found | $0/mo (Plus $35, Pro $80) | Freelancers · built-in tax tools | Visit Found |
| Lili | $0/mo (Pro $15, Smart $35, Premium $55) | Non-US owners incl. Latin America · savings APY | Visit Lili |
How to get started with Wise Business
- Get your LLC’s EIN from the IRS.
- Have your Articles of Organization, operating agreement and an ID for each owner ready.
- Apply online on Wise Business’s site and verify the owners.
- Fund the account and connect your payment and accounting tools.
Wise Business vs the alternatives
Wise Business is our pick for multi-currency · getting paid from abroad ($31 one-time). If that isn’t your priority:
- Mercury — better for free wires · non-us founders · startups ($0/mo). $0 monthly fee, no minimum balance, no opening fees.
- Relay — better for profit first · up to 20 accounts · cash deposits ($0/mo (Grow $30, Scale $120)). $0 Starter plan with no minimum balance.
- Bluevine — better for interest on checking · credit line ($0/mo (Plus $30, Premier $95)). Interest on checking: 1.3% APY on Standard (with $500 card spend or $2,500 in customer payments a month).
Frequently asked questions
How much does Wise Business cost?
$31 one-time. Monthly fee: No monthly fee; $31 one-time for account details. Minimum balance: None. Verified October 18, 2026 on Wise Business’s website.
Is Wise Business good for an LLC?
Not a replacement for a US checking account, but the cheapest way we found to hold, receive and convert many currencies. Ideal as a second account for LLCs with clients or suppliers abroad. Good fit: llcs paid in eur, gbp or other currencies; owners who move money between the us and home country.
What are the downsides of Wise Business?
Not an FDIC-insured bank. $6.11 to receive each USD wire. Best as a second account next to a US business checking account.
Can non-US residents open Wise Business?
Check Wise’s availability page.
What are the alternatives to Wise Business?
Mercury ($0/mo), Relay ($0/mo (Grow $30, Scale $120)), Bluevine ($0/mo (Plus $30, Premier $95)), Novo ($0/mo), Found ($0/mo (Plus $35, Pro $80)), Lili ($0/mo (Pro $15, Smart $35, Premium $55)).
Is Wise Business safe?
Wise Business isn’t a bank itself; deposits are held at partner banks that are FDIC members. FDIC coverage: Not a bank; pass-through FDIC up to $250K on interest funds only.
How do I sign up for Wise Business?
1. Get your LLC’s EIN from the IRS. 2. Have your Articles of Organization, operating agreement and an ID for each owner ready. 3. Apply online on Wise Business’s site and verify the owners. 4. Fund the account and connect your payment and accounting tools.
Rates, fees and eligibility change often. Figures come from each provider’s own site on the date shown; confirm before opening an account. Fintechs are not banks — deposits are held at partner banks, Member FDIC. Verified October 18, 2026. We may earn a commission if you sign up through our links, at no cost to you. How we’re funded.
Your LLC setup checklist
- Get a free EINFrom the IRS, in minutes online.
- Open a business bank accountKeep LLC money apart from yours to protect the liability shield.
- Sign an operating agreementSettle who owns and decides what before it matters.
- Get business insuranceCover what the LLC itself doesn’t protect.
- Plan your taxesKnow your tax status and federal due dates.
- Track state deadlinesFree reminders before each filing.
Everything in one list: printable LLC compliance checklist · live deadline calendar.