Wise · multi-currency account
Wise Business
Hold and convert 40+ currencies at mid-market rates, get local account details for major currencies and pay suppliers abroad — now licensed by the UAE Central Bank.
Is Wise Business worth it?
- free-zone companies: Wise Business onboards free-zone entities on its published criteria.
- startups watching fixed cost: Wise Business asks for no minimum balance and no monthly fee — workable before revenue is steady.
- founders outside the UAE: Wise Business onboards fully remotely — no branch visit required.
- import-export businesses: Wise Business covers 40+ currencies — wide enough for regular foreign-currency flows.
Pricing
- Monthly fee
- AED 0
- Minimum balance
- AED 0
Eligibility
- Not suitable for
- businesses needing a UAE-local IBAN for local AED collections, cash handling, lending, or a licensed UAE bank account — Wise is cross-border rails. Merchants wanting a payment gateway for their store
Business operations
- Approval time
- 1–3 days
- Free-zone companies
- Yes
- Branch visit
- Not required
- Multi-currency
- 40+ currencies
How onboarding goes
- Application: Submit the request through the provider’s channel and upload documents
- Compliance review: KYC checks and document verification
- Decision: Typical timing: 1–3 days
- Go live: Access activated and the product is live
Documents you'll typically need
- Valid UAE trade licence (mainland or free zone)
- Memorandum and Articles of Association
- Passports and Emirates IDs of shareholders and authorised signatories
- UBO (ultimate beneficial owner) declaration
- Office tenancy contract, Ejari or flexi-desk agreement
- Recent invoices or contracts for new companies; 6–12 months of bank statements for operating businesses
Typical pack for this category — the provider confirms the exact list on application.
Free to open; per-transfer fee and FX margin quoted before each transfer and vary by currency pair. CBUAE SVF + Retail Payment Services licences (2025).
Verified answers
How much does a Wise Business account cost to open?
Registering a Wise Business account is free — Wise uses pay-as-you-go pricing with no subscription, and adds volume discounts on large conversions.
Source: wise.com · verified
Is it free to receive money with Wise Business?
Yes — adding money by bank transfer in the same currency is free; fees apply only when currency conversion or certain receiving methods are involved.
Source: wise.com · verified
Frequently asked questions
Is Wise Business worth it for free-zone companies?
Yes — Wise Business onboards free-zone entities on its published criteria.
Is Wise Business worth it for startups watching fixed cost?
Yes — Wise Business asks for no minimum balance and no monthly fee — workable before revenue is steady.
Is Wise Business worth it for founders outside the UAE?
Yes — Wise Business onboards fully remotely — no branch visit required.