Wise Business to Wise Business Payments: Fast, Transparent, and Convenient

In a rapidly evolving global marketplace, the ability to conduct fast, transparent, and convenient international payments has become a crucial factor for businesses aiming to expand their reach and enhance competitiveness. And as companies increasingly grow and engage in cross-border transactions, they face the complexities of operating in different currencies as well as fluctuating exchange rates. The demand for fast payment processing has never been more pressing; delays can hinder cash flow, disrupt supply chains, and ultimately impact a company’s bottom line.

Moreover, transparency regarding fees and knowing the status of your international payments are essential for building trust between clients and trading partners. Businesses require real-time insights into the status of their transactions and associated costs to make informed financial decisions and to ensure their recipients receive exactly the amount expected.

Whether you’re paying suppliers in China, employees in Europe, or business partners in Singapore, Wise Business to Wise Business payments are faster and more convenient than ever. Let’s take a closer look.

How to send international payments

Fast

One of the standout features of Wise to Wise payments is their speed. Transfers between Wise Business accounts are instant*, provided both the sender and recipient are using the same currency. You can choose from over 40 currencies to send to another Wise Business customer without needing their account details and incurring any additional fees if you're sending the same currency. If you're sending to a different currency, you can easily convert currencies for Wise to Wise payments with our mid-market exchange rates and low, transparent fees.

For example, if you’re paying a marketing agency in US dollars or settling an invoice in euros with another Wise Business customer in the same currency, the payment should arrive instantly and without any additional fees*. If it's another currency, it will incur a small conversion fee that we'll let you know upfront.

Choose Wise for your international business payments

• Send 40+ currencies to 160+ countries
• Always know how much it will cost with mid-market exchange rate and low, transparent fees
• Instant*, with 59% of payments arriving within 20 seconds

Transparent

According to recent research commissioned by Wise, £187 billion was lost globally by individuals and businesses due to hidden fees in exchange rates within a single year. Unlike other providers, Wise offers a clear breakdown of fees and the exact mid-market exchange rate applied to your transfer. So, if you’re sending money to another Wise Business user but first need to exchange pounds for euros, or if you're converting dollars to yen for a business deal, you can do so knowing exactly what you will pay.

Convenient

Paying Wise Business to Wise Business is convenient because it eliminates the need to know your recipient’s account details. When both parties use Wise, the platform confirms the recipient’s identity, ensuring that your payment goes to the right person without requiring additional information. As Suzanne Noble, Wise Business customer and co-founder of Startup for Seniors, says: “I use Wise Business to pay my developer in the Philippines. I know that if she’s got a Wise account and I have a Wise account, it feels safe.”

4 steps to send Wise Business to Wise Business payments

1. Login: Access your Wise Business account via the app or desktop.
2. Select Currency: Choose the currency you wish to send.
3. Recipient Details: Enter the recipient's phone number, email address or Wisetag.
4. Send: Confirm the amount and send.

Recipients can either hold the money in their Wise multi-currency account or convert it to another currency at the mid-market exchange rate with low transparent fees. If you frequently send money to the same business, their details can be saved for even quicker transfers in the future.

More ways to pay with Wise Business

Ways to find your Wise Business recipient

• Wisetag: If your recipient has a Wisetag, you can search for this instead of their phone number. If they don’t, you can ask them to obtain one by clicking on Payments, then Your Wisetag, and selecting Get Your Wisetag. A Wisetag is either a link or QR code and serves as a unique Wise identifier.

• Sync contacts (phone numbers): You can find this under the Recipients tab by selecting the option to 'Sync our contacts'. If you can't find them through your Contacts list, it's possible they haven't verified their phone number, have turned off letting people find them, they're using a different phone number for their Wise account. Find out more about troubleshooting here.

• Email Address: If your recipient is using Wise and you know their email address, you can find their account this way. Make sure it is the email address they have registered with Wise.

Wise Business to Wise Business payments offer a fast, transparent, and convenient way to send international payments without additional fees or hassle. By eliminating the need for account details and confirming recipient identities through Wisetag, phone number or email addresses, Wise ensures secure and straightforward transactions. This approach makes it easy for businesses to manage cross-border payments efficiently and confidently.

*Results may vary based on the unique circumstances of each individual