How to Open a Wise Business Account in the US: Clear Guide

Are you looking to join Wise’s more than 10 million active personal and business customers by opening a Wise Business account?

This article takes you through the process of signing up for an account so you can start taking advantage of its features for your business.

Register with Wise Business today 🚀

How to Open a Wise Business Account: Step-by-Step

Wise is a Money Services Business (MSB) provider that you can use to hold and convert 40+ currencies and send international transfers. If you operate a US business that conducts international transactions, Wise’s online business account can help you send and receive payments around the world using the mid-market exchange rate without hidden fees.

Registering an account with Wise Business is a simple process that you can complete online in minutes. Follow these simple steps.

Head to the Wise Business Website

To get started, navigate your web browser to the Wise Business website or download and open the Wise mobile app from the Apple or Google Play store.

Click ‘Register’ in the Top Right Corner

If you are using the web browser, look for the Register button on the top right corner of the page or the Create Account button.

You can also click the link and register here.

Enter Your Business Email Address

Fill in the appropriate email address for your business correspondence. Alternatively, you can use your existing Google, Facebook or Apple ID account if your business email address is registered there.

Select Your Business Location

Confirm your country of registration, in this case the United States.

Add Your Phone Number for 2-Step Verification

Provide a mobile number to receive a one-time password (OTP) via SMS and enter the OTP for two-step verification to keep your account secure.²

Create a Strong Password

Enter a password for the account that contains a combination of upper and lower case letters, characters and numbers that is not easy for hackers to crack.

Confirm Your Role in the Business

Inform Wise whether you are one of multiple stakeholders or the majority owner of the business.

Verify Your Business with Wise

To proceed, you need to provide documentation to verify details about yourself and the business.³

This includes information such as:

• Business registration details
• Registered business address and trading address(es)
• Information about the industry the business operates in
• Links to the business website and social media
• Name, date of birth and country of residence for all stakeholders
• Purposes the business account will be used for

As the Wise account owner, you must provide personal details to verify your identity. And if you’re not a company director, you will need to prove that you're authorized to act on behalf of the business.

You may need to upload documents including:

• Copy of the company director’s passport or ID card
• Proof of business address(es), e.g. utility bill issued within the last three months, copy of a bank or credit card statement, tax bill or notification
• Business formation documents, e.g. Articles of Association and Memorandum of Association
• Business ownership agreements
• Business license, if applicable

Set up a Transfer or Get Account Details

Enter how much you want to send, let us know who you're sending to, and pay for your transfer. Learn more about sending money with Wise.

Another option is paying a one-time set-up fee to get account details for receiving money.

We'll let you know if we need extra information to verify you once we receive your money. This usually takes less than 10 working days. Keep in mind that if you added team members to your business account, they need to be verified, too.

Once your verification is completed, we'll send you a confirmation email and resume your transfer.

Watch Our Guide on How to Open a Wise Business Account

You can also watch our video guide on how to open an account, and follow the steps while you watch.

Opening a Business Account if You Already Use Wise

If you already have a Wise personal account, you can link your new business account to it, so that you can access both with the same login. You can open a business account from the web or app by selecting Open a Business Account from your name icon in the top corner.

Who Cannot Open a Wise Business Account?

All different types of businesses — from freelancers and entrepreneurs to large-scale enterprises — can use a Wise account. However, there are restrictions on who can open account and Wise Businesscannot be used by the following entities in the US:³

• Unregistered charities
• Businesses involved in cryptocurrency, tobacco, adult content, or other prohibited activities listed here.
• Businesses who offer services or goods relating to Cuba with US relations
• Businesses with bearer shares — regardless of where they are incorporated

How Long Does It Take to Open a Wise Business Account?

It’s quick and easy to open a Wise Business account, so you can set one up in just a few minutes if you have your documents at the ready. There's no need to book appointments or wait in line. Verification usually takes less than 10 working days.

Reasons to Open a Wise Business Account Today

Wise Business offers several advantages for US businesses, especially those that operate internationally.

Key account features include:

• Local account details for major currencies to receive international payments with ease.
• No monthly account fees or minimum balance requirements, just a simple one-off fee to receive account details.
• Receive payments from e-commerce platforms such as Amazon or via Stripe.
• Invoice creation using the Wise invoice generator or invoice templates.
• Accounting integrations including a QuickBooks Bill Pay connection. Bill payments are synced, matched, and categorized in QuickBooks for simple reconciliation.
• Batch payment options.
• Fast payment of up to 1,000 people.
• Better visibility and organization of business finances for account reconciliations and audits.
• Administration controls for users to allow team members to carry out specific tasks.

Open a Wise Business account 🚀

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in 40+ currencies. You can get major currency account details for a one-off fee to receive overseas payments like a local. You can also send money to 160+ countries.

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

Sources:

¹ THE WISE STORY
² What is 2-step verification? | Wise Help Centre
³ Can my business use Wise? | Wise Help Centre

All sources checked September 2024.