Wise · Fintech accounts
Wise Business review for Canadian businesses
Wise Business gives Canadian companies a multi-currency account that converts at the mid-market rate and shows its fee upfront, starting from 0.48% for CAD. You can hold and send more than 40 currencies, and there’s no monthly account fee.
Who Wise is best for
Businesses making frequent international payments, teams that want to see the exact fee before paying and companies holding several currencies.
Businesses that need forwards or options.
Wise Business gives Canadian companies a multi-currency account that converts at the mid-market rate and shows its fee upfront, starting from 0.48% for CAD. You can hold and send more than 40 currencies, and there’s no monthly account fee.
It doesn’t offer forward contracts or options, so it suits businesses that want cheap, transparent everyday conversions rather than hedging. Pair it with a hedging provider if you have large payments due months ahead.
Fees, features and eligibility
| FX margin | Mid-market rate plus a conversion fee from 0.48% for CAD |
|---|---|
| Fees | No monthly fee; conversion fee shown upfront |
| Provider type | Fintech account |
| Currencies | 40+ currencies |
Source: Wise published product information.
What stands out
Pros
- Mid-market exchange rate
- Fees shown upfront
- 40+ currencies
Cons
- No forward contracts or options
Wise: common questions
Does Wise Business charge a monthly fee?
No, there’s no monthly account fee.
What exchange rate does Wise use?
The mid-market rate, plus a conversion fee from 0.48% for CAD, shown before you pay.
Can I hedge currency risk with Wise?
No. Wise doesn’t offer forward contracts or options.
Used Wise? Help other businesses choose.
