Paypal Business vs Wise Business (2025 Guide)
Discover the key differences between PayPal Business and Wise Business. Compare features, fees, and benefits to find the best solution for your business needs.
Small business owners need a business account that offers the right services at a cost that doesn’t break the bank. Ultimately, choosing the right provider is an individual decision based on what’s most important to you as a business owner, but that doesn’t mean the decision isn’t hard.
Read on for our guide on the best banks for small businesses, as well as some money services business providers and credit unions. We will also talk about how Wise Business could be a great option for you.
Looking to operate your business with less fees?
Get a Wise Business account >>
Trustpilot Rating: Great with 200,000+ reviews ⁵⁹
Over 300,000 businesses use Wise every quarter
Let's take a look at the various accounts available for your small business.
Wise Business is a banking alternative with a flexible, low-cost international business account. Their goal is to help you avoid the hassles that come with traditional banking through transparent pricing and global reach.
Key Features:
Pricing & Fees ¹
Feature | Cost/Rate |
---|---|
Account Registration | $0 |
Account Details (Receive Money like Local in GBP, EUR, USD, CAD, and more) | One-time payment: $31 |
Sending Money | From 0.43% |
ATM Fees >$100/month/account | 2% |
Account Funding Transactions | 2% |
Wise Debit Card | $5 |
Converting Money | From 0.43% |
Looking to operate your business with less fees?
Get a Wise Business account >>
Trustpilot Rating: Great with 190,000+ reviews ⁵⁹
Over 300,000 businesses use Wise every quarter
Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.
Lili is a financial technology company that provides banking services for businesses.
Pricing & Fees ³
Feature | Cost/Rate |
---|---|
ATM Transaction \ (Domestic nonMoneyPass) | $2.50+ |
ATM Transaction \ (International) | $5 |
Card Replacement | Free for first time \ $5 after |
Deposited Check Returned Item | $25 |
Express Mail | $20 |
Funds Transfer \ (ACH Express Delivery) | 1.5% \ ($0.50-$20) |
Lili requires that you purchase an account plan to use their services. Each one comes with a business checking account, but all except the Basic plan have the advanced checking account option. You can learn more about the plans.³
Plan | Cost/Rate |
---|---|
Lili Basic Account | $0/month |
Lili Pro Account | $9/month |
Lili Smart Account | $20/month |
Lili Premium Account | $35/month |
This account from Chase Business is designed with small businesses in mind.
Key Features: ⁴
Pricing & Fees ⁵
Chase offers several business accounts. Here, we’ll focus on fees related to their standard option, Chase Business Complete Checking.
Feature | Cost/Rate |
---|---|
Monthly Service/Maintenance | $0-$15 |
Transactions (21+) | $0.40/transaction |
Wire Transfers \ (Incoming Domestic or International) | $15/transfer |
Wire Transfers \ (Outgoing Domestic) | $25-$35 |
Wire Transfers \ (Outgoing International) | $0-$50 |
Chase QuickAccept \ (Swipe, Dip, or Tap) | 2.6% + $0.10/transaction |
Chase QuickAccept \ (Manual Entry or Payment Link) | 3.5% + $0.10/transaction |
Nbkc is an online business bank offering a business account.
Key Features: ⁶
Pricing & Fees ⁷
Feature | Cost/Rate |
---|---|
Foreign Transaction | 1% |
Send Domestic Wire Transfer | $5 |
Send or Receive International Wire Transfers | $45 |
Found is a business banking service designed for freelancers and those who are self-employed.
Key Features: ⁸
Pricing & Fees ⁹
Feature | Cost/Rate |
---|---|
Instant Transfers | 1.75% |
Found Plus | $19.99 or $149.99 |
ATM Withdrawals | Standard ATM Fees \ (no charge from Found) |
Currency Conversion | Subject to Currency |
Pay Invoice \ (via Debit or Credit Card) | 2.9% + $0.30 |
Pay Invoice \ (via Direct Debit) | 1% |
Pay Invoice \ (via Cash App Pay) | 3.1% + $0.30 |
This account from Bank of America was designed with small business in mind.
Key Features: ¹⁰
Pricing & Fees ¹¹
Feature | Cost/Rate |
---|---|
Monthly Fee | $0-$16 |
Excess Transaction | $0 for first 200 \ $0.45/transaction after |
Cash Deposit Processing | $0 for first $7,500 \ $0.30/$100 after |
Non-Bank of America ATMs \ (Domestic) | $2.50+ |
Non-Bank of America ATMs \ (International) | $5+ |
Overdraft Item | Up to $10/item (2/day) |
Paper Statement Copies | $5 |
Printed Check Images | $3 |
Ordering Checks | Variable |
Card Replacement \ (Rushed Delivery) | $15 |
Stop Payment | $30/request |
Domestic Incoming Wire Transfers | $15 |
Domestic Outgoing Wire Transfers | $30 |
International Incoming Wire Transfers | $15 |
International Outgoing Wire Transfers \ (in USD) | $45 |
This is Axos Bank’s small business banking account.
Key Features: ¹²
Pricing & Fees ¹³
Feature | Cost/Rate |
---|---|
Per-Item Processing \ (>200/month) | $0.30/item |
Minimum Deposit | $1,000 |
Debit Card/ATM Card replacement with PIN | $5 |
Debit Card/ATM Replacement (Special Mailing/Rush Delivery) | $50 |
Bank Verification Letter | $35 |
Collection Items (International) | $35 + cost/item |
Visa® Debit Card Foreign Currency Conversion Rate | 1% |
Check Copy From Archive | $5/item |
Legal Processing | $100 |
Research/Reconciliation | $35/hour |
Statement Copy From Archive With Our Assistance | $10/statement |
Account Paper Statement | $5 |
Wire Transfers Outgoing (Domestic) | $35/transfer |
Wire Transfers Outgoing (International) | $45/transfer |
Certified or Overnight Mail (Special Mailing/Rush Delivery) | $10.00 + postage |
Deposited Checks (And Other Items) Returned Unpaid | $10/item |
Check Orders With Our Assistance | $10.00 + cost of checks |
Escheatment Notification | $2 |
Excess Transaction or Withdrawal | $10 |
Non-sufficient/uncollected funds - Paid or Returned Item | $25 (up to $75/day) |
Official checks | $10/item |
Stop payments \ (Online Request) | $10/request |
Stop payments (with Assistance) | $35/request |
LendingClub’s checking account is designed to help businesses “bank smarter” with tailored solutions and an easy-to-open account.
Key Features: ¹⁴
Pricing & Fees ¹⁵
Feature | Cost/Rate |
---|---|
Minimum Opening Deposit | $100 |
Monthly Maintenance | Up to $10 |
Abandoned Property | $50/account |
Currency Conversion | 0.20% |
Cross Border (International) Transaction | 0.90% |
Domestic Outgoing Wire (Business) | $18 |
International Outgoing Wire | $40 |
Stop Payment | $25 |
Oxygen is a digital banking app for first-time businesses.
Key Features: ¹⁶
Pricing & Fees ¹⁷
Feature | Cost/Rate |
---|---|
Domestic Cash Withdrawal | $3/withdrawal |
Card Replacement \ (Expedited Shipping) | $50/card |
International Cash Withdrawal | $5 + 1%/withdrawal |
International Transaction | 1% |
First Internet Bank’s business banking solutions are conveniently located online.
Key Features: ¹⁸
Pricing & Fees ¹⁹
Feature | Cost/Rate |
---|---|
Paper Checking & Savings Account Statements & Copies | $3/statement |
Stop Payments | $30 |
Card Replacement | $0 for first replacement $5/card after |
Incoming Wire Transfers | $15 |
Outgoing Domestic Wire Transfers | $20 |
Outgoing Foreign Wire Transfers | $50 |
Deposits/Payments to Account (via Credit Card) | 3% or $10 (whichever is greater) |
Cashiers Checks & Copies | $5/check |
Dormant Account | $5/account/month |
International Service Assessment | 2% (in USD) |
Foreign currency check/draft processing | $50/item |
Returned Item | $20 |
Uncollected Funds | $30 |
Overnight Delivery | $30 |
Garnishments, Executions & Levies | $50 |
Account Reconcilement Assistance & Research | $20/hour |
NorthOne offers accounts designed to help small businesses succeed.
Key Features: ²⁰
Pricing & Fees ²¹
Feature | Cost/Rate |
---|---|
Monthly Fee | $10 |
Same-day ACH Payment | 1.5% \ ($1-$15/payment) |
Send Domestic Wires | $20 |
Physical Checks | $1 |
Cash Withdrawals | Third Party Fees |
Receive Domestic Wires | $20 |
Intuit QuickBooks offers the QuickBooks Checking bank account.
Key Features: ²²
Pricing & Fees ²³
Feature | Cost/Rate |
---|---|
Instant Transfer | 1.5% |
In-network ATM Withdrawal | Free for 4 withdrawals/statement cycle $3/transaction after |
Out of Network ATM Withdrawal | $3/transaction |
Foreign Transaction | 3% |
PNC offers special small business banking solutions, like the business checking account.
Key Features: ²⁴
Pricing & Fees(for Business Checking) ²⁵
Feature | Cost/Rate |
---|---|
Minimum Opening Deposit | $100 |
Monthly Account Maintenance Fee | Up to $12 |
Monthly Transactions | Free for up to 150 $0.50/transaction after |
Monthly Deposits over $5,000 | $0.30/$100 |
Comerica is known as the leading bank for business with a small business checking account.
Key Features: ²⁶
Pricing & Fees ²⁷
Feature | Cost/Rate |
---|---|
Account Maintenance | Up to $16/month |
Monthly Transactions | Free for first 300 $0.65/item after |
Cash Deposited | $0.13/$100 |
NSF (Return of unpaid items) and Paid Overdraft (1st Occurrence) | $25/item |
NSF (Return of unpaid items) and Paid Overdraft (2nd-4th Occurrence) | $33/item |
NSF (Return of unpaid items) and Paid Overdraft (>4th Occurrence) | $37/item |
Banking with a credit union or a traditional bank is a great option for small businesses. But they also have plenty of drawbacks, like high fees, limited services, and restricted membership. Luckily, Wise offers comprehensive and innovative business finance solutions.
Wise serves 300k business every quarter in markets all over the world. A Wise account offers the chance to send and receive international payments in multiple currencies.
Whether an instant one-time payment or batch payment, Wise offers competitive rates to customers with the mid-market exchange rate.
See how much you'll save while sending cross-currency transfers here:
Trustpilot Rating: Great ⁵⁹
Over 300,000 businesses use Wise every quarter
PayPal for Business is a business payment solution designed for businesses of all sizes, especially small businesses.
Key Features: ²⁸
Pricing & Fees ²⁹
Feature | Cost/Rate |
---|---|
Receiving Domestic Transactions | 2.29-3.49% + fixed fee |
Campaign Fee – Store Cash transactions | 8% |
Receiving Domestic Transactions (APM) | 2.59-2.99% + fixed fee |
Receiving International Transactions (APM) | 2.59-2.99% + fixed fee + 1.5% |
Receiving domestic transactions using PayPal Online Card Payment Services | 2.59-3.09% + fixed fee |
Receiving domestic micropayments | 4.99% + fixed fee |
Receiving international micropayments | 4.99% + fixed fee + 1.50% |
Converting payments in another currency | 3-4% |
Instant Withdrawals (to Card or Bank Account) | 1.50% |
Additional services, like Account Monitoring and Advanced Fraud Protection, cost additional fees.
Cash App’s business account is called Cash App for Business.
Key Features: ³⁰
Pricing & Fees ³⁰
Feature | Cost/Rate |
---|---|
Processing | 2.75% |
TD Bank offers small businesses banking lending services and opportunities.
Key Features: ³¹
Pricing & Fees ³²
Feature | Cost/Rate |
---|---|
Monthly Plan Fees | $5-$125 |
Deposit/Credit | $1 per |
Withdrawal/Debit | $5 per |
Monthly Cash Deposited | $2.50/$1,000 |
Deposited Items | $0.22/item |
U.S. Bank offers several business and small business banking solutions, including tiered business checking accounts.
Key Features: ³³
Pricing & Fees ³⁴
Feature | Cost/Rate |
---|---|
Minimum Opening Deposit | $100 |
Monthly Maintenance Fee | Up to $30 |
Transactions | 125-500 free/statement cycle $0.40-$0.50 each after |
Cash Deposit | 25-200 free/month $0.33/$100 after |
Paper Statement (no check images) | Up to $6 |
Paper Statement (with front & back check images) | Up to $9 |
Grasshopper Bank offers users a digital business banking system with their Innovator Business Checking Account.
Key Features: ³⁵
Pricing & Fees ³⁶
Feature | Cost/Rate |
---|---|
Domestic Wire Out | $10/wire |
International Wire Out | $25/wire |
International Wire In | $5/wire |
Deposited Item Return | $10/item |
Physical Debit Card Replacement | $5/card |
Expedited Debit Card | $25/card |
Dormant Account | $5/month |
Foreign Item Collection | $30/item |
Abandoned Property | $50/account |
Levy | $50/levy |
Account Research | $25/hour |
Subpoena or Summons | $25/instance |
Capital One recommends their Basic Business Checking account for small businesses.
Key Features: ³⁷
Pricing & Fees ³⁸
Feature | Cost/Rate |
---|---|
Monthly Service Fee | Up to $15 |
Cash Deposits | Free for up to $5,000/month $1/$1,000 after |
ATM Fees | Up to $5/withdrawal |
Domestic non-Capital One Bank ATMs | $2/withdrawal |
Domestic Incoming Transfer | $15/transfer |
Domestic Outgoing Transfer | $25/transfer |
Foreign Incoming Transfer | $15/transfer |
Foreign Outgoing Transfer (in foreign currency) | $45/transfer |
Foreign Outgoing Transfer (in USD) | $50/transfer |
Cashier’s Check | $10/check |
Non-sufficient Funds (NSF)/ Overdraft (OD)/ Uncollected Funds (UNC) | $35 |
Stop Payment | $35 |
Relay is an online business banking service with business checking features designed for small businesses.
Key Features: ⁴²
Pricing & Fees ⁴³ (for Relay & Relay Pro)
Feature | Cost/Rate |
---|---|
Monthly Fees | $0-$30 |
Outgoing Domestic Wires | $0-$5 |
Outgoing International Wires | $0-$10 |
The Teacher’s Insurance and Annuity Association of America (TIAA) rebranded to EverBank and offers a small business checking account.⁴⁴
Key Features: ⁴⁵
Pricing & Fees ⁴⁵
Feature | Cost/Rate |
---|---|
Minimum Opening Deposit | $1,500 |
Stop Payment | $25 |
Payoneer offers its users a cross-border business payment account.
Key Features: ⁴⁶
Pricing & Fees ⁴⁷
Feature | Cost/Rate |
---|---|
Getting Paid Directly by Clients (via credit card) | 3% |
Getting Paid Directly by Clients (via ACH bank debits) | 15% |
Paying to Recipient without Payoneer | Up to 3% |
Same Currency Payment | 1.50 USD/EUR/GBP |
Withdraw in local currency with currency conversion | Up to 3% |
Same Currency Withdrawal | 1.50 USD/EUR/GBP |
Withdraw in Non-local currency | Up to 3% |
Annual Account Fee | $29.95 |
Revolut offers Revolut Business, an online business account with four tiers.
Key Features: ⁴⁸
Pricing & Fees ⁴⁹ (Revolut also offers a Custom Pricing option)
Feature | Cost/Rate |
---|---|
Monthly Fees | $0-$119 |
International Transfers | 0-25 free $5/transfer after |
Local Transfers | 5-1,000 free $0.20/transfer after |
Currency Exchange | $1,000-$50,000 free 0.6% fee after 1% fee for exchanges outside market hours |
This bank offers many services to small businesses, highlighting their small business checking accounts with four business banking options.
Key Features: ⁵⁰
Pricing & Fees ⁵¹ (based on four business banking options)
Feature | Cost/Rate |
---|---|
Monthly Fee | $0-$75 |
Minimum Opening Deposit | $100 |
Out of Network ATM Fee | $2.50 |
Items in Excess | $0.50/item |
M&T offers business banking products and services, including several business checking account options.
Key Features: ⁵²
Pricing & Fees ⁵³ (based on seven business checking account options)
Feature | Cost/Rate |
---|---|
Monthly Maintenance Fee | $0-$50 |
BALOC Annual Fee | $0-$250 |
Additional Transactions | $0 if unlimited Or $0.25-$1/transaction |
Truist offers online and mobile banking for small businesses, recommending the Simple Business Checking account.
Key Features: ⁵⁴
Pricing & Fees ⁵⁵
Feature | Cost/Rate |
---|---|
Minimum Opening Deposit | $100 |
Paper Statement Fee | $3/month |
Monthly Transactions | Free for first 50 $0.50/transaction after |
Monthly Coin and Currency Deposits | Free up to $2,000 $0.003/$1 after |
The popular business-building site offers Shopify Balance, a business financial account for managing finances.
Key Features: ⁵⁶
Pricing & Fees
Shopify Balance does not have any fees associated with their services. You may be charged a fee for using an ATM, but this fee is not charged by Shopify.⁵⁶
Square offers small business resources, but its financial services are for restaurant, retail, and beauty businesses of all sizes.
Key Features: ⁵⁷
Pricing & Fees ⁵⁸ (for three different account types)
Feature | Cost/Rate |
---|---|
Monthly Fees | $0-$29+ |
Payroll | At least $35/month + $6/month/employee |
Email Marketing | At least $15/month |
Text Message Marketing | At least $10/month (+ messaging rates) |
Loyalty | At least $45/month |
Team Plus | At least $35/month/location |
Afterpay | 6% + $0.30/transaction |
In Person Processing | 2.6% + $0.10/transaction |
Online Processing | 2.9% + $0.30/transaction |
Manually Entered Processing | 3.5% + $0.15/transaction |
Invoice Processing | 3.3% + $0.30/transaction |
Sources:
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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