Wise vs Equals Money Business: Which Is Better?

Which Is Better for UK businesses choosing between simple low-cost cross-border transfers and 38-currency IBAN coverage with relationship-led FX expertise?

If you want the simplest cheapest cross-border SME account, choose Wise. We rate Wise as the cheapest mid-market FX for occasional transfers — from 0.33% above interbank with no monthly subscription.

If you operate in hospitality, manufacturing, iGaming or accountancy and need 38 multi-currency IBANs with relationship-led FX expertise, choose Equals Money. We rate Equals as broader on industry-specific support.

When you convert £50,000 EUR a month, Wise costs roughly £165-285 with no subscription. Equals Money on Business tier adds £25-£35/month before any FX cost.

If you need broader currency depth than Wise offers, choose Equals Money for the 38-currency IBAN coverage. Wise covers 9+ currencies on Advanced — narrower but deeper for the corridors covered.

Wise vs Equals Money Fees and Charges

You pay nothing for Wise Essential and £50 one-off for Wise Advanced (which unlocks local account details in 9+ currencies). No monthly subscription on either tier.

You pay £25-£35/month at Equals Money for Business and Business Plus card tiers. Physical cards cost £10 one-off each; virtual cards are free up to 50 (Business) or 100 (Business Plus).

On FX, Wise charges from 0.33% above mid-market — varies by currency pair. Equals Money charges in-house relationship-led FX without publishing a specific markup percentage on the main product page.

You should confirm Equals Money’s exact FX markup directly with the team before committing. The relationship-led model means rates depend on your business volume and structure.

On UK Faster Payments, Wise outgoing is free. Equals Money UK transfer fees aren’t prominently itemised on the main page.

For cash deposits, neither account offers UK cash channels. Pair either with a high-street account if you take cash daily.

On the card, Wise charges 0% non-sterling if you hold the currency and free ATM up to £250/month then 2.69%. Equals Money card fees follow plan-tier limits with virtual cards bundled.

Wise vs Equals Money Features and Tools

You should weigh feature breadth carefully. Wise focuses on low-cost cross-border transfers and multi-currency holding in 9+ currencies. Equals Money emphasises 38 multi-currency IBANs and in-house FX expertise.

You get 38 multi-currency IBANs at Equals Money. Wise offers local account details in 9+ currencies on Advanced — narrower than Equals.

When your bookkeeper handles invoices in 8 currencies for a hospitality business, Equals Money’s 38 multi-currency IBANs across 21 free major currencies beats Wise on currency depth.

If you need broad business-type acceptance, both providers cover sole traders, LTDs and partnerships. Equals Money explicitly markets to hospitality, manufacturing, iGaming and accountancy verticals.

For accounting integrations, both connect with Xero, QuickBooks and FreeAgent via Open Banking. Wise also integrates with Sage and Zoho Books.

You get virtual and physical cards at Equals Money — 50 virtual on Business, 100 on Business Plus, physical at £10 one-off. Wise card programmes are more standardised.

Wise vs Equals Money International Payments

If you invoice or pay in foreign currency at meaningful volume, Wise wins on raw FX cost transparency. Mid-market from 0.33% beats Equals Money’s unpublished relationship rate at most SME volumes.

You can hold balances in 38 currencies at Equals Money with 21 major currencies free. Wise covers 9+ currencies on Advanced.

When you convert £100,000 GBP to EUR a month, Wise costs roughly £330-570 (0.33-0.57%). Equals Money cost depends on the in-house FX quote — confirm directly before committing.

For receiving foreign currency, Equals Money provides multi-currency IBANs with local clearing in 21 major currencies. Wise provides 9+ local account details on the Advanced plan.

You should weigh FSCS protection identically — neither is FSCS-protected. Wise diversifies safeguarded funds across Barclays, Citibank, Chase. Equals Money safeguards at Tier-1 banks.

For card spending overseas, Wise charges 0% if you hold the currency. Equals Money card overseas fees aren’t prominently itemised — confirm directly.

Wise vs Equals Money Customer Reviews and Reputation

You should weigh Trustpilot here. Wise sits around 4.3 stars across 290,000+ reviews. Equals Money has a smaller, more enterprise-focused review base across 30,000+ company customers.

You hear Wise complaints cluster around first-payment KYC freezes (6-24 hour holds) and occasional account restrictions during compliance review.

You hear Equals Money positive reviews lean on in-house FX expertise, relationship management model, and breadth of currency support. Smaller review base than Wise.

When your bookkeeper urgently needs a supplier paid on Friday afternoon, both providers’ local transfer rails clear in minutes. SWIFT transfers run on standard timing.

Support model splits sharply. Wise offers chat and phone for paid customers. Equals Money provides dedicated account managers for higher-tier customers and relationship management depth.

Wise vs Equals Money for Mid-Market FX Cost vs 38-Currency IBANs with Vertical Industry Support

For simplest cheapest cross-border SME transfers, Wise wins. We rate Wise as the value pick for transparent FX cost across most UK SME volumes.

For 38 multi-currency IBANs with vertical industry support, Equals Money wins. The breadth of currencies and the iGaming/hospitality/manufacturing positioning beats Wise on vertical-specific coverage.

When you operate in iGaming or other industries where mainstream banks restrict service, Equals Money explicitly markets to these verticals. Wise has more generic positioning.

If you’re a simple UK SME doing 3-5 currency invoicing, Wise wins on simplicity and cost. The £50 one-off Wise Advanced setup pays for itself in the first month at typical volumes.

We checked both providers’ integration sets in May 2026: both support Xero and QuickBooks via Open Banking. Wise additionally integrates with Sage, FreeAgent and Zoho Books.

We modelled the cost stack at £50,000 monthly EUR conversion: Wise lands around £165-285 all-in. Equals Money depends on the in-house FX quote you negotiate — we recommend asking for the rate at your typical monthly volume before committing.

Downsides of Wise and Equals Money

You won’t find FSCS protection at either provider — both EMI-safeguarded only. For balances above £10,000, that protection gap matters operationally.

You won’t find Equals Money’s exact FX markup published on the main page. The relationship-led model means confirming specific rates with the team before committing.

You won’t find cash deposit options at either provider. Pair either with a high-street account if you take cash daily.

You pay £25-£35/month at Equals Money even before transaction fees. For low-volume cross-border SMEs, that subscription is meaningful versus Wise’s no-subscription model.

You won’t find card acquiring at either provider. For ecommerce payment acceptance, pair either with Stripe, Adyen or Airwallex.

You face per-transfer fees at Wise that vary by currency pair. For high-volume supplier payments in one corridor, the cost predicts well; for unpredictable patterns it can surprise.

Alternatives to Wise and Equals Money

You don’t have to choose between Wise and Equals Money alone. We compared several adjacent UK business accounts that solve specific problems better than either.

If you need FSCS-protected multi-currency banking, choose Revolut Business. We tracked the 11 March 2026 PRA bank licence migration — new accounts FSCS-protected to £120,000.

If you need free PRA-licensed UK banking with FSCS, choose Starling Business.

If you need card acquiring plus multi-currency banking, choose Airwallex. 1.30% + 20p UK card acquiring plus subscription multi-currency banking.

If you need full high-street banking with branches plus trade finance, choose HSBC or Barclays.

Final Verdict: Wise or Equals Money?

Choose Wise Business if you want the cheapest cross-border SME transfers with transparent mid-market FX from 0.33% and no monthly subscription.

Choose Equals Money if you need 38 multi-currency IBANs across 21 free major currencies, relationship-led FX expertise, or operate in hospitality, manufacturing, iGaming or accountancy verticals.

When breadth of currencies and vertical industry support matters, Equals Money wins. When transparent low-cost FX and simplicity matter, Wise wins.

You should pair either account with a PRA-licensed bank (Starling or Revolut Business new accounts from 11 March 2026) if you need FSCS-protected primary banking.

Frequently Asked Questions