Payments · Platform review
Wise Business
Mid-market rate, local receiving accounts in 9 currencies, and the lowest conversion margin for freelancers.
Verdict
Wise Business is the benchmark for freelancers receiving international payments. Local account details in USD, EUR, GBP, AUD, CAD, SGD, NZD, HUF, and RON mean your client pays a local transfer — no SWIFT fees. Conversion to your home currency happens at mid-market with a ~0.45% fee. For most corridors, this is the cheapest option by a significant margin.
Fee breakdown
Example: $1,000 invoice, US client → your local bank
Pros & cons
Pros
- Local receiving account details in 9 currencies — client pays local, you receive global
- Mid-market rate with transparent ~0.45% conversion fee
- No receiving fee on bank transfers
- Instant conversion to 50+ currencies
- Regulated in 50+ countries — highest trust level
- Free to hold balances in multiple currencies
Cons
- Percentage fee scales with amount — on $50k+ transfers, OFX or direct wire may be cheaper
- No cash pickup option
- Credit card payments from clients incur higher fee (~1.5-2%)
- Business account requires verification documents
Best for
Supported corridors
Platform integrations
Frequently asked questions
How does Wise Business compare to a regular bank for receiving payments?
A regular bank charges a SWIFT receiving fee ($15-50) plus a 2-4% FX margin. Wise Business charges zero receiving fee for bank transfers and a ~0.45% conversion margin. On $1,000 received, that's roughly $4.50 vs $30-50 at a bank.
Can my US clients pay me through Wise Business?
Yes. Wise gives you a US bank account number (routing + account number). Your US client can send a regular ACH or domestic wire — no international fees for them, and you receive it within hours.
Does Wise Business work with Upwork?
Upwork supports Wise as a withdrawal method in many countries. Alternatively, you can give Upwork your Wise USD account details for direct bank transfers, avoiding Upwork's own conversion fees.
What's the maximum amount I can receive through Wise Business?
Wise Business has no published hard cap on receiving amounts, but large transfers ($10k+) may require additional verification. There are daily and monthly limits that can be raised by contacting support with business documentation.