Opening a bank account when you have a limited company to receive money from customers abroad can be frustrating and time-consuming, but it doesn’t have to be that way. After learning about the experience other entrepreneurs had with their banks, we knew that it was time to find one that would provide all the services we need to run our business smoothly and worry-free – so that’s what we did! The search lead us to WISE, formerly TransferWISE, an international and multi-currency banking platform with lots of handy features that made their financial services simple and easy to understand.
The best banking account for Limited Companies (and others)
When setting up a company, one of our main priorities is getting a company banking account. WISE offers a wide range of accounts for limited companies and as entrepreneurs, one of its key selling points was that it allows you to open your account online in minutes. This means that you can start processing transactions immediately without having to wait for paperwork. If you run an ecommerce store, for example, cash flow is critical; by starting with a good base of funding from day one, you are more likely to succeed and reduce any risk. Another reason why our choice fell on WISE is that they immediately provide a Visa card that can be used everywhere in the world and online.
Multiple currencies and low conversion rates
We’re a limited company in the UK, with clients in Europe the United States, and beyond. We needed a bank that could convert money quickly and easily, with low conversion rates and competitive exchange rates. Which is how we discovered WISE - an international multi-currency banking platform with savings accounts available in all of these currencies, allowing you to receive money directly into your currency without excessive conversion charges. With 24/7 online banking access via computer and smartphone, paying bills has never been easier.
Keep your cash or invest in stocks
For small businesses that have daily cash flow needs, WISE makes it possible to keep your cash on hand while investing in stocks. Small businesses often don’t have spare money lying around and want to keep their money available. With a WISE account, you can grow your balance with the world's biggest companies, and keep instant access to your money. At the moment, this service is only available for UK-based companies.
Team access and personal VISA cards
We were particularly impressed with how easy it was for us to gain access to our team’s VISA cards. WISE doesn’t use a system of traditional checks or credit scores, which made it easy for us to set up accounts even as an international company. Even more important, everyone is given complete control over his or her account, and each employee can keep track of his or her expenses.
Use virtual cards for secure online payments
Employees and owners need to have easy access to payment options. WISE provides virtual cards for secure online payments to get around those brick-and-mortar restrictions. These can be permanent or temporary, depending on your needs. In addition to being safer than permanent credit cards, virtual cards are also easier to disable if necessary: If someone goes rogue and makes unauthorized purchases (or worse), there is no need to cancel all of your card numbers. Simply freeze that one card so that it can no longer make transactions until it is manually unfrozen.
A handy app to manage your finances on the go
Not only can you manage your finances from your smartphone with a click of a button, but you can also easily approve online payments. Since e-commerce is becoming so important for businesses, it’s important to be able to efficiently manage online payments and transactions. WISE makes it easy to do so right from your smartphone. It’s super simple! Approve the transaction in the app and voilà—your payment is processed in real-time.
Banking accounts for business and personal use
If you want your personal and business banking under one roof, then WISE is the way to go. This international, multi-currency account offers a premium banking experience with access to services such as unlimited free transactions across multiple currency accounts, real-time transfers, and market rates on global currency exchanges. Its easy-to-use features make it simple for anyone – both newbies and seasoned bankers – to use.
You could also invite your friends and earn a 90 euro referral fee. For every 3 friends who sign up via your referral link, you'll receive 90 euro, which will be credited directly into your WISE Account once they've made their first deposit of € 250. Now that's a friendly invitation!
Get started with your free WHISE banking account
When you join WHISE, you'll open your free account in minutes. You'll be making your first transaction in no time. No need for extensive information or documents. Everything will be taken care of for you. With minimum fees, low interbank exchange rates, and multilingual support globally 24 hours a day, it’s easy to see why choosing WHISE as your new banking partner can benefit your company’s profitability.
Ready to start banking right away? Click here to open your WISE account!