Expense cards available to businesses in 37 countries including countries across Europe, UK, Canada, Singapore, Japan, Australia and New Zealand
London: 13.12.2021: Wise Business, the business account for going global, has today announced the launch of its new employee expense card, which is set to save businesses and their employees time, hassle and money on their expenses.
The new card is among the cheapest options available to businesses. To activate the feature, businesses need only pay a one-time fee of €21 to open bank details followed by €4 per employee card, with no additional monthly subscription fees.
In addition, Wise Business customers benefit from being charged only the real exchange rate and no hidden fees, adding further savings throughout. On average, transfers with Wise are 8x cheaper than traditional banks.
Available both digitally and physically, the cards can be used by a business’ employees to make company payments wherever they may be in the world.
To aid budgeting and control, businesses can set spending limits for each user, and will receive notifications for major account moments, such as an employee requesting a card or reaching 80% of their spending limit. Employees at businesses that use Xero can also attach receipts to their expenses for auto-reconciliation with the accounting platform, thus further reducing the hassle that comes with manual expense management.
At launch the card is available to all Wise Business customers in Europe, the UK, Australia, Canada, New Zealand, Singapore and Japan.
With Wise, business customers can tap into the company’s industry-leading international payments network and infrastructure to access cheaper, faster and more convenient payments at the real exchange rate.
Wise Business is on the side of small businesses. We understand the importance of saving businesses time and money - so they can focus on growing. It’s why we’ve worked hard to make our employee expense card as affordable and easy-to-use as possible. The new card service is streamlined, cost and time efficient, and allows businesses and their employees to be as international as modern business demands. Whether you’re making online transactions - such as paying for online advertising or paying suppliers - or travelling overseas, this card will make life easier. Businesses can retain control, while their employees are able to quickly and affordably make payments. Small businesses are becoming more international, meaning solutions like this go a long way.Irene Cresci, Manager, Wise Platform
Wise Business has also launched a feature in the account itself called the Preparer role. This allows designated users to set up a payment but not execute it, with the payment requiring final sign off from within the business. Companies can set their own threshold amounts, at which point a Preparer needs sign off for a purchase. There is no limit on the number of Preparers that can be set.
About Wise
Wise is a global technology company, building the best way to move money around the world. With the Wise account people and businesses can hold over 50 currencies, move money between countries and spend money abroad. Large companies and banks use Wise technology too; an entirely new cross-border payments network that will one day power money without borders for everyone, everywhere. However you use the platform, Wise is on a mission to make your life easier and save you money.
Co-founded by Kristo Käärmann and Taavet Hinrikus, Wise launched in 2011 under its original name TransferWise. It is one of the world’s fastest growing, profitable technology companies and is listed on the London Stock Exchange under the ticker, WISE.
16 million people and businesses use Wise, which processes over €10 billion in cross-border transactions every month, saving customers over €1.6 billion a year.
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