Setting Spending Limits For Employees

As a business owner, you often handle multiple tasks, but managing everything by yourself can become overwhelming. At Wise, we recognise the importance of delegation, so we've made it possible for you to set spending limits for your employees on your business account. Team members also need the right access to the right data in your business account, that's why we've created a multi-user access feature, protecting your business finances while empowering your employees.

This feature enables you to decide who can access your account, approve payments and make transactions. We offer 5 user roles that permit you to assign duties to your team members, and one extra customisable role, just in case you need a more tailored approach.

In addition, you can set up payment approval rules to each individual instead of roles, meaning different users with the same roles will now have different approval rules set for them.

Main benefits of Wise Business multi-user access

Security
With multi-user access, you can set different levels and permissions for each user. This ensures that sensitive information is only accessible to authorised team members, reducing the risk of data breaches or unauthorised actions or payments within the business. With our single or dual approvals, you can set up permissions to ensure your finances remain safe. Team members can only access the business account you invited them to, they can’t access your personal account, and you can remove them at any time, allowing you to maintain better control over your business finances.

Control employee spending
Any member of your team can get a Wise Business debit card but as a Wise Business account holder, you are the one setting and controlling spending limits. Your team members can see their own limits when they log in but won't be able to see any other info about your account or finances - unless you authorise them. So whether it is daily or monthly limits, freezing the cards or removing a person from your account, you control employees' spending.

Scalability
As your business grows, the multi-user feature allows you to scale easily. You can add new team members and assign them to relevant roles and responsibilities without any hassle. Read more about how to add or remove team members, or change their role.

Roles you can assign as a Wise Business account owner

💳 Employee

This role has the authority to use the Wise account to purchase supplies or pay for travel expenses, without access to any sensitive financial information. The Wise debit card can be used for spending, but users won't be able to view business activity, balances, or individuals / organisations receiving money. As an employee you're not allowed to set spending limits for your card.

This role is perfect for those that need to make purchases on the business’ behalf, but who don't need access to the whole account. This role allows you to empower your employees while maintaining control over outgoings.

👀 Viewer

If you have an accountant or someone who only reports on your financial data, Viewer will be the right setting for them. Providing view-only access to observe transfers, batch payments, balances, users and recipients, viewers can also access transfer receipts, statements, invoices, transfer histories or request letters for easier bookkeeping and account reconciliation.

📝 Preparer

These employees are granted the same permissions as Viewers, plus the ability to assign recipients and set up transfer orders. All transfer orders set up by Preparers will need to be approved by an Admin, or by the Account Owner.

💸 Payer

Payers are medium trust employees, they can do everything Viewers and Preparers can do, in addition they can also pay for and cancel transfers, batch payments, and manage recipients as well as handle currency conversions. This role is perfect for financial managers, or for anyone that needs to manage payments for the business.

👩‍ Admin

The Admins hold nearly the same level of authority as the Account Owner. They have the same privileges as all of the roles above, plus they can open and close balances, manage Wise business debit cards and request updates to business information. Admins can do everything the Viewers, Preparers and Payers can do.

🧳 Account Owner

The account holder holds the highest and full authority and is able to perform all tasks in the account, such as transferring ownership, closing the Wise business account and tracking and managing employee spending.

Account Owners can do everything Admins can. They can also:

• Transfer ownership of the account to another Admin user
• Close the Wise business account, or appeal closure of Wise business account

Custom Roles: custom roles is a feature which allows Admins and Owners to mix and match access and permissions for other team members. You can choose to give access to the following: payments and receipts, balances, integrations, cards, team management. If you would like to delete a Custom Role in the future, make sure to reassign your team members to another role first.

To set up someone's role, you simply go to your account, click profile and under business tools select Team. Select your team member, choose their role and that's it. For a more detailed guide, please click here. You are always able to set up spending limits for employees, no matter the role.

Details on roles and permissions

Set up payment approvals for each role in your Wise Business account

You can now set up unique payment approvals for each role that makes payments via transfer on behalf of your business. For each role, you can choose whether payments need approval, and above how much. We’ve applied your current approval rule to any existing roles that make payments. But you can now edit, or even remove the rule for each individual role. And if you add any new custom roles, you’ll need to set up a new approval for each role. Approvals are currently available for the following roles: Preparer, Payer and Admin. Learn more about setting controls and roles here.

To set up or edit an approval:

• Go to Menu (on the right side) > Team > Payment approvals.
• Find the role you want, and select ‘Set up approval’ or ‘Edit’.
• Choose which payments need approval, and whether 1 or 2 admins should approve them.

Transferring your Wise Business Account: You as a Business Account Owner might also come across a scenario, when you'd like to transfer your business account to someone else. To do so, please see the following guide.

Set up payment approval per user

You can now set up payment approvals for users, even if they're already assigned a role. To do so, select Team from the menu on the right top corner and choose the member you'd like to set payments approval to. You can see also see all the users in the 'Payment approvals'.

Wise Business account offers a multi-user access that allows business owners to set spending limits for their employees and maintain control over financial activities. With five predefined user roles and a customizable option, owners can delegate responsibilities while ensuring security and scalability.

The feature not only enhances security by restricting access to sensitive information but also enables precise control over employee spending, offering flexibility in managing business finances. As the business grows, the multi-user access feature allows easy scaling by adding new team members and assigning relevant roles and responsibilities.

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