Review of Wise card for business (2025): features & fees

Key takeaways

• The Wise Business Card is a physical or virtual debit card for everyday business expenses. It allows companies to spend in 40+ currencies directly from their Wise Business account.

• The Wise debit card lacks rewards and has a basic expense management system, which may limit oversight and control for growing teams.

• The Airwallex Corporate Card helps businesses cut costs and stay in control with 1% unlimited cashback, no foreign transaction fees, and built-in tools to manage spending across teams and markets.

It’s getting easier to send money across borders. But when it comes to spending it, many businesses still run into outdated systems, clunky card controls, and fees they didn’t agree to. Whether you’re paying suppliers or covering travel costs, the wrong corporate card can cost you more than you think.

In this article, we’ll break down what the Wise Business Card offers and where it falls short. We’ll also compare it to the Airwallex Corporate Card, so you can make an informed choice about which one works better for your global spending needs.

What is Wise? 

Wise (formerly TransferWise) is a UK-based fintech that serves individuals and businesses. 

Wise launched in Singapore in 2016 as an easier, lower-cost way to send money abroad. It later introduced Wise Business for SMEs and freelancers, followed by the Wise debit card in 2019.

How does Wise work?

Wise offers a Business Account that lets you hold and convert over 40 currencies. Once you’ve paid the S$99 setup fee, you can order a physical or virtual Wise Business Card. It’s linked directly to the Wise Business Account and draws from your available currency balances. When needed, the card auto-converts currencies using Wise’s mid-market rates.

If your team needs greater control and wants cashback on every transaction, the Airwallex Corporate Card may be a better fit.  We’ll explore this alternative to the Wise Business Card shortly.  

Key features of Wise Business cards

The Wise card has a range of tools for managing spending across currencies and teams:

• Issue physical and virtual Wise debit cards

• Spend in 40+ currencies and 160+ countries

• Limited rewards or cashback

• Track spend in real time via the Wise app

• Assign team cards with set limits

• Compatible with Apple Pay and Google Pay

Issue physical and virtual cards

Wise lets businesses instantly create virtual cards, or request physical cards at S$4 per card.¹ Both card types are connected to the Wise account and support global spending.  

In contrast, Airwallex lets you create up to 10 free company cards with 0% zero foreign transaction fees, along with a suite of spend management solutions for up to five users. You get multi-currency employee cards, built-in expense management, and accounting integrations to help your business stay in control of spending, all in one place.

Spend in 40+ currencies and 160+ countries 

The Wise Business Card lets you hold and spend in over 40 currencies through balances held in your Wise Account. It can be used to make in-store purchases and cash withdrawals in 160+ countries, though free ATM withdrawals have a monthly limit.

Limited rewards or cashback

Unlike other multi-currency cards, the Wise debit card doesn’t offer rewards, which means businesses miss out on savings. 

For teams looking to get more value from their card usage, the Airwallex Corporate Card provides 1% cashback on all local and international spend – that’s 1% back on everyday expenses, from social ads to business travel. 

Track spending in real time via the app

The Wise app gives you notifications for every transaction, with a clear view of spending history. This allows you to keep an eye on employee expenses, especially if you’re managing several Wise cards.

The Airwallex Corporate Card goes further with built-in tools that let you track, review, and approve employee expenses in real time, ensuring you always have ‌complete visibility over card activity. 

Assign team cards with set limits

You can issue physical or virtual cards to team members and set spending limits with the Wise Business Card, helping you manage budgets across teams or departments.

Just like Wise, Airwallex Corporate Cards also allow you to instantly create, freeze, or cancel cards, giving you total control over company spend.

Wise Business card fees

Wise charges the following fees for its Business account and Business card:

While Wise offers transparent pricing, businesses may find better value with the Airwallex Corporate Card. Its Explore tier lets you open an account at no cost, comes with 10 free company cards, and free expense management for up to five users.

How do you get Wise Business cards?

Follow these steps to get a Wise debit card:

Step 1: Sign up for a Wise Business account

Step 2: Submit your business verification documents

• Once approved, add funds to your Wise account

• Verify your business with supporting documents

• Order a physical Wise card or generate a Wise digital card instantly

Alternative to Wise Business cards: consider Airwallex

While the Wise debit card works for basic spending, it can lack features that growing businesses need.

Like Wise, Airwallex lets you issue Corporate Cards globally, so your team can spend in multiple currencies without surprise markups or hidden fees. But Airwallex goes further with features that deliver more control and savings:

• 1% unlimited cashback on all local and international spend, in any category.

• Free account opening under the Explore tier, with no one-time setup fee.

• Up to 10 free physical and virtual Corporate Cards, compared to Wise’s S$4 charge per physical card.

• Built-in expense management that automates tasks like receipt capture and expense approval workflows. In contrast, Wise offers basic card controls and may require third-party software for comprehensive spend management.

See how the Airwallex Corporate Card stacks up against the Wise debit card:

What do these differences look like in practice? 

Igloo Insure, a Singapore-based insurtech company, switched to Airwallex to cut costs and simplify spend management. By using Airwallex Corporate Cards, the team earns 1% cashback on every transaction and avoids foreign transaction fees when paying global vendors. With savings of S$100 per cross-border payment and faster approvals through built-in expense management, they’ve turned a manual finance process into a scalable one.

How to get Corporate Cards with Airwallex

Getting started with Airwallex Corporate Cards is simple. Once your business account is set up and verified, you can start issuing cards and paying for expenses right away:

Step 1: Create a free Airwallex Business Account 

Create an Airwallex account online, with just a few details about your business and its authorised representatives. 

Step 2: Upload your business verification documents

Provide the documents needed to verify your Singapore business.  This Know Your Customer (KYC) verification process is required by the Monetary Authority of Singapore (MAS)  to ensure that financial services are offered securely and in compliance with local laws.

Step 3: Create an Airwallex Corporate Card after account activation

Once your Business Account is approved, you can instantly issue a physical or virtual card from the Airwallex dashboard. Here’s how:

• Go to the Cards tab and select Create card

• Choose either a physical or virtual card, and select either a Company or Employee card. Company cards are for shared team expenses, while Employee cards are issued to individual team members. Our Explore plan comes with up to 10 free Company cards.

• Set the billing currency, and assign a name to the card.

• Submit your request. Your virtual card will be ready instantly, and physical cards will be sent out for delivery.

Step 4: Start spending to earn cashback

Use your card for business purchases and earn 1% unlimited cashback on all local and international spend.

Final thoughts: is the Wise Business Card right for your business?

Wise lets you get started with global spending right away. But as your business grows, basic features and limited controls can start to hold you back. No cashback. No automation. And no built-in tools to manage spending at scale.

That’s where Airwallex comes in. You get multi-currency cards with 1% unlimited cashback, real-time tracking, and full control over spend. Every transaction is visible. Every workflow is built in. And every dollar works harder for your business.

With Airwallex, you can open local currency accounts in over 20 markets, manage global payments, and automate reconciliation – all from a single platform. It’s not just a better card. It’s a smarter way to run your finances.

If you’re ready to scale without the manual admin or hidden fees, Airwallex gives you the infrastructure to do it.

Frequently asked questions (FAQs)

When should I use a company card vs an employee card?

Use a company card for shared business expenses like subscriptions or office purchases. Give employee cards to individual team members so they can manage their own spending within set limits.

What are the benefits of an international corporate business debit card?

The benefits of an international corporate business debit card include spending directly from held balances in your multi-currency account. This helps you avoid surprise fees when paying in multiple currencies. Some cards, like the Airwallex Corporate Card, also offer built-in expense management to track and control business spend in real time.

Sources:

1.  https://wise.com/sg/pricing/business/card-fees

2. https://wise.com/sg/pricing/business

3.  https://wise.com/help/articles/2934551/what-are-the-wise-card-fees?origin=search-fees+with+wise+card

This publication does not constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.