5 Best Wise alternatives for businesses in 2025

In all likelihood, Wise is one of the first names that comes to mind when you think of international payment providers.

Founded in 2011, Wise (formerly TransferWise) has built its reputation on making international money transfers simpler and cheaper than traditional banks. It was originally for personal users before expanding into the B2B payments space. 

But just because Wise is a well-known brand, doesn't mean it’s the de facto best fit for every business making cross-border payments. 

That's where this guide comes in handy. Whether you're outgrowing Wise or just exploring your options, it’ll help you find the right payment partner for your specific needs. It delves into who Wise is ideal for versus when you may want to look for an alternative and presents five alternatives specifically for growing SMBs like yours. 

What Wise offers

Wise gives businesses a simple way to send and receive money internationally. Here's what you get with a Wise business account:  

• Wise’s multi-currency accounts let you hold 40+ currencies with local account details in 9 of them (including GBP, USD and EUR). For all other currencies, you can send and receive payments using SWIFT account details. 
• You can integrate Wise with accounting tools in your financial ecosystem, including Xero, QuickBooks and Sage. All of these integrations come standard with every account. 
• Wise also offers physical and virtual debit cards for team spending, which link directly to the account balance in your chosen currency.

Wise pricing & fee structures

There are very few surprises when it comes to Wise’s pricing. Wise charges a one-time opening fee of €50. After that, there are no recurring monthly subscription fees — you only pay for what you use. It offers currency conversions at the mid-market exchange rate with a percentage-based fee added. There are no hidden markups or fees. 

For international payments, you'll pay a percentage-based transfer fee — typically between 0.33% and 1.0% of the payment amount, depending on the currency pair. 

Wise is best for...

• Digital nomads and self-employed business owners who work with international clients in multiple currencies. 

• Smaller businesses starting to expand internationally and looking for an efficient and affordable solution for handling cross-border payments. 

• E-commerce businesses selling products across borders with low transaction volumes. 

When you may need to look at alternatives 

Wise excels for freelancers and smaller businesses with less complex international payment needs. But growing businesses often need more sophisticated tools, personalised support and better visibility of their payments. Here’s why.

Fees can start to add up

Once you're regularly moving €100,000+ annually across borders, Wise's per-transaction fees start adding up quickly. Percentage-based fees that seemed small at first become significant line items on your balance sheet when you're dealing with larger sums.

The lack of FX risk management 

And how do you deal with currency fluctuations? As your international transaction volumes grow, so does your exposure to foreign currency risks. Wise doesn't offer any FX risk management tools or dedicated support to help you protect your margins from exchange rate swings.

The need for FX expertise 

When you're working with larger payment volumes, sometimes chatbots, help docs and support tickets alone simply won't cut it. Wise's human support options are limited, especially if you're trying to speak directly with an expert who understands both your business and the complexities of the FX market.

Bottom line

Wise business accounts are great for digital nomads, freelancers and micro-businesses that work with international clients and need to send and receive occasional international payments. It’s a good option if you prefer an autonomous approach, with little to no need for support, and a simpler suite of features.

But as your transaction volume grows and currency risk becomes a major consideration, your international payment needs become more complex and you’ll start noticing Wise’s limitations. With a lack of FX risk management solutions and no dedicated human support, you might find yourself looking for more than Wise has to offer.

5 Wise alternatives (and who each is best for)

Now that we've explored when you might need to look beyond Wise, let's examine some alternative cross-border payment providers that could better serve your growing business.

1. iBanFirst

Founded in 2016, iBanFirst is a cross-border payment provider built specifically for growing SMBs. Combining a simple yet powerful platform with support from our in-house FX experts, iBanFirst is transforming the cross-border payment experience for small and medium-sized enterprises. 

Pros

• Our software is purpose-built for small and medium-sized businesses with significant international payment needs. 

• With an iBanFirst multi-currency account, you can hold, send and receive funds in 25+ currencies. 

• You and your beneficiaries can track your payments across borders — just like a parcel — with time-stamped updates at every step. 

• Our dedicated account managers are FX experts who know your business. They can help you build custom FX strategies and make use of our fixed, flexible and dynamic forward contracts to protect your business against currency fluctuations. 

• You can use the iBanFirst API to integrate iBanFirst with third-party tools in your tech stack.

Cons

• iBanFirst is less suited to businesses with low international transfer volumes. 

• We don't offer debit cards like some of the other Wise alternatives listed.
  
  

iBanFirst's pricing & fee structure

With iBanFirst, there's no setup fee, no monthly subscription costs and no transfer fees — what you see is exactly what you pay. 

Our transparent pricing structure is designed with scaling international businesses in mind. Unlike Wise, iBanFirst gives you a standard exchange rate spread that applies across all your transactions. This means you can predict your costs even as your payment volumes increase, rather than watching those percentage-based fees eat away your profits. 

iBanFirst is best for...

• Established SMBs that are outgrowing entry-level payment providers and need advanced tools for things like FX risk management. 

• Importers/exporters with international supply chains seeking the tools and expertise to manage complex payments and don't want percentage-based fees eating into their margins. 

• Wholesalers who rely on FX risk management tools and crave detailed payment tracking and hands-on, responsive support. 

Bottom line

2. Revolut 

Revolut is another name you may recognise, known for its mobile-first financial solutions for both personal and business users. It goes beyond multi-currency accounts, currency exchange and payments by offering payment processing options, expense management tools, debit cards, and various integrations. Revolut positions itself as a solution for everyone, from freelancers to enterprise-scale businesses and everything in between.

Pros

• Revolut supports 25+ currencies and offers local account details in GBP, USD and EUR. For all other currency accounts, you use SWIFT account details for international transfers.  

• It offers a broader range of features than Wise, including tools for team spending and expense management. 

• Revolut’s fixed and flexible forward contracts mean you can manage currency risk. 

• You can use physical and virtual cards with spend controls for team members, expense categorisation, and real-time notifications.  

• Revolut also integrates with accounting, expense management and HR tools.

Cons

• Revolut’s aim of appealing to all business sizes — from freelancers to enterprise businesses — comes at the expense of SMB-specific solutions. 

• Its pricing structure means key features are locked behind more expensive plans and weekend exchanges can come with additional markups. 

• Revolut’s more personalised support only comes at the 'Enterprise' tier, leaving SMBs to face the complexities of FX alone.

Revolut's pricing & fee structure

Here’s how Revolut’s tiered monthly subscription model works: 

• Basic: €10 per month, limited features  
• Grow: From €30 per month, exchange up to €15,000 monthly at the interbank rate
• Scale: From €90 per month, exchange up to €60,000 monthly at the interbank rate
• Enterprise: Custom pricing with specialised account management 

Each plan comes with a monthly allowance for currency exchanges at the interbank rate. Once you hit your limit — or if you decide to make a transfer during weekends or outside market hours — the extra fees kick in (typically 0.6% to 1%). 

Revolut is best for...

• Freelancers, smaller businesses and enterprises looking for a solution with a broader range of features and don’t mind the tiered pricing structure. 

• Businesses that need to accept payments through online gateways, e-commerce integrations, and contactless QR codes. 

• CFOs and finance teams that want to manage expenses, issue company cards to their teams, set spending limits and control where the cards can be used.

Bottom line

Revolut has a lot to offer in terms of functionality, especially compared to Wise. That said, because it tries to cater to vastly different audiences, you may find yourself paying for features that aren't relevant to your business needs or feeling like the features in your current tier aren’t enough.

Not dissimilar to Wise, Revolut also takes more of a hands-off approach to support. Clients on their enterprise tier get access to a dedicated account manager, but everyone else will need to navigate help docs on their own or submit support tickets. So if hands-on human support is a must-have for you, better to look elsewhere. 

3. Payoneer

Payoneer is a payment provider that specialises in facilitating payments to and from freelancers, contractors and online sellers who use marketplaces like Amazon, eBay, Fiverr and Upwork and these marketplaces themselves.

Here's how Payoneer stacks up as a Wise alternative.

Payoneer pros

• With Payoneer, you can hold and send funds in 70+ currencies. 
• Global receiving accounts are available in multiple currencies to collect payments from customers.
• Payoneer partners and integrates with many e-commerce and freelancer platforms as well as major online marketplaces.
• Payoneer has a focus on mass payout capabilities for paying suppliers, contractors and marketplace sellers.
• Cards are available in USD, GBP, EUR and CAD so you can access earnings and spend online or out in the world. 

Cons

• With a split focus across multiple audiences — freelancers, businesses and marketplaces — Payoneer isn’t focused on developing solutions that meet the specific needs of SMBs.  
• The limited FX risk management capabilities may work against Payoneer as an attractive option for SMBs compared to others on this list.

• The high percentage-based fees for most international payments can be off-putting for businesses looking to make cross-border payments but not mass payments to freelancers and contractors.
  

Payoneer pricing & fee structures 

Payoneer's pricing structure is transaction-based with varying fees depending on how you send and receive money: 

• Account opening and maintenance: Free 
• Currency conversion: 0.5% markup on top of mid-market rate 
• Making payments: Up to 3% fee if the recipient doesn’t have a Payoneer account 
• Card transactions that involve conversion: 3.5% fee 

Payoneer is best for...

• Freelancers and contractors working across different platforms like Fiverr and Upwork and want to integrate Payoneer as their payment method. 
• Marketplaces that need to make mass payouts in multiple countries and currencies. 
• Businesses that want to pay overseas employees and contractors and get paid by their customers. 

Bottom line

Payoneer goes beyond payments and currency conversion functionality, but this additional functionality adds complexity. This makes it less suitable for SMBs looking for a simple yet comprehensive solution for payments and FX risk management. 

4. Airwallex

Founded in 2015, Airwallex is a cross-border payment provider that offers multi-currency accounts, international transfers and payment acceptance tools. Much like Revolut Business, Airwallex positions itself as a comprehensive, all-in-one solution for payments, spending, and expense tracking with the goal of streamlining global financial management.

Airwallex pros

• With Airwallex's multi-currency account, you can send and receive payments in 23 currencies.
• Airwallex is a payment gateway which allows e-commerce businesses to collect online payments.
• Virtual and physical cards are available for expense management.
• Teams can track and control global spending.
  

• You can sync bank feeds with Xero, QuickBooks and NetSuite at the Explore, Grow and Accelerate plans and access custom API implementations with the Custom plan.

Cons

• The more complex platform features are plan-dependent and may require a steep learning curve for some users. 
• Airwallex's pricing structure isn’t the most SMB-friendly. 
• Dedicated account manager support only kicks in at the Accelerate plan.
  

Airwallex pricing & fee structures

Similar to Revolut, Airwallex offers a tiered pricing structure for EU businesses:

• Explore: €0 per month (if you deposit €10,000 monthly / maintain a €10,000 balance) or €19 per month.
• Grow: €49 per month, which adds expense management and bill pay features.
• Accelerate: €999 per month.
• Custom: Tailored pricing for high-volume businesses.

Airwallex also charges a 0.5% to 1% exchange rate markup on all conversions, depending on the currency.

Airwallex is best for...

• E-commerce businesses that want to create online checkout links and accept global payments.
• Freelancers and smaller businesses looking for a solution with a broader range of features and don’t mind the tiered pricing structure.
• Larger businesses that can afford the Accelerate or Custom plans and benefit from hands-on support.
  

Bottom line

Airwallex is similar to Revolut in that it's a feature-rich provider with plenty going on under the hood. But this extra functionality means Airwallex is trying to be everything for everyone, the downside being a lack of SMB-specific tools. Plus, if you value having an account manager who understands and supports your business, you'll need to look at their Accelerate or Custom plans, which come with hefty monthly fees.

5. Ebury

Ebury is a financial services provider that specialises in foreign exchange services, international payments and trade finance for SMEs and mid-sized corporations with cross-border operations. It takes a more tailored approach to helping businesses manage international risks and grow across borders.

Here's what to know about Ebury as a Wise alternative. 

Ebury pros

• Ebury supports payments in 130+ currencies across global markets with local details available in 29 of them.
• Ebury offers forward contracts and other FX hedging tools you can’t get with Wise. 
• It also provides trade finance solutions, including invoice financing. 
• It offers mass payment capabilities for handling multiple international transactions. 
• You can connect eBury with your ERP systems.

Cons

• The complex, tailored pricing structure makes it harder for businesses to predict costs or compare Ebury to other providers.
• Ebury’s platform isn’t very user friendly, which also makes it harder to integrate into a modern tech stack.
• Ebury doesn't offer debit cards like some of the other Wise alternatives listed.

Ebury pricing & fee structures

Ebury takes a tailored approach to pricing.

Ebury is best for...

• Established SMBs that are outgrowing entry-level payment providers and need advanced tools for things like FX risk management.
• SMBs and corporations in education, travel, payroll and NGO sectors, among others. 
• Businesses with significant international trade exposure, particularly those needing both payment and financing solutions. 

Bottom line

If you want advanced hedging tools to manage currency risk, Ebury is a better choice than Wise. However, Ebury's platform isn’t the most user-friendly and the opaque custom pricing structure doesn’t appeal to everyone. The payment tracking capabilities aren’t as advanced as other providers on this list.

Are traditional banks a viable Wise alternative? 

You may be considering going to your bank as an alternative to Wise. But that isn’t necessarily the best option for SMBs like yours...

Traditional banks prioritise enterprise businesses 

Traditional banks can be a decent Wise alternative if you're a large enterprise with significant negotiating power. Banks typically focus their efforts on serving these clients ahead of SMBs, meaning you’ll likely end up overpaying and feeling frustrated with the lack of support. 

Complicated, time-consuming procedures

Sending international payments through traditional banks often requires a lot of legwork upfront to get set up. You're potentially looking at in-person branch visits, a stack of paperwork to fill in and extended wait times just to get up and running. 

High, hidden fees  

Traditional banks often apply a substantial markup to the interbank exchange rate, ranging from 4% to 6%, sometimes higher. Added to this are the transfer fees, often higher than those of modern international payment providers, and in many cases, hidden fees for things like account maintenance or access to bank transfer messages. 

Zero visibility into payment statuses

Once your money leaves your account, good luck tracking it. In some cases, you won't even receive so much as a simple confirmation notice when the funds arrive. This lack of transparency makes it incredibly difficult to keep your suppliers and partners in the loop — and it makes managing your cash flow a real headache. 

In short, traditional banks aren't designed to meet your specific international payment needs. Their legacy systems and opaque pricing structures and processes create unnecessary friction when what you really need is for things to flow smoothly. Most growing SMBs will be better off with a specialised cross-border payment provider like iBanFirst.

Join 10,000+ international SMBs already using iBanFirst  

Thousands of growing SMBs trust us with their cross-border payments. Why? Well, there's no tiered pricing structure and our features aren’t trying to be everything for everyone — they’re specifically designed for growing SMBs like yours. 

With iBanFirst, you can: 

• Send, receive and track international payments 

• Protect your profits from exchange rate volatility with FX forwards 

• Work with real, human FX experts who understand your business

Get started with iBanFirst today 

If you're starting to outgrow Wise, switch to the best alternative today. The longer you wait, the more it could potentially cost you in transaction fees and currency market swings. Request an account today and join thousands of growing SMBs who use iBanFirst to manage their cross-border payments.