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Wise Business launches new international expense cards

By Joy Dumasia

December 14, 2021

  • Australia
  • Canada
  • Card Payments

WiseWise Business, the business account for going global, announced the launch of its new employee expense card, which is set to save businesses and their employees time, hassle and money on their expenses. The new card is among the cheapest options available to companies. Businesses need only pay a one-time fee of £16 to open bank details followed by £3 per employee card, with no additional monthly subscription fees, making the card more than 10x cheaper than other options, like Pleo and Soldo, to activate.

Wise Business customers benefit from being charged only the real exchange rate and no hidden fees, adding further savings throughout. On average, transfers with Wise are 8x cheaper than traditional banks. Available both digitally and physically, the cards can be used by a business’s employees to make company payments wherever they may be in the world.

To aid budgeting and control, businesses can set spending limits for each user and receive notifications for significant account moments, such as an employee requesting a card or reaching 80% of their spending limit. Employees at businesses that use Xero can also attach receipts to their expenses for auto-reconciliation with the accounting platform, thus further reducing the hassle of manual expense management.

The card is available to all Wise Business customers in the UK, Europe, Australia, Canada, New Zealand, Singapore, and Japan at launch. The card launch comes as small businesses have outlined their frustrations towards the payments solutions that are traditionally available to them.

James Bell, Head of Wise Business, said: “Wise Business is on the side of small businesses. We understand the importance of saving businesses time and money – so they can focus on growing. It’s why we’ve worked hard to make our employee expense card as affordable and easy-to-use as possible. The new card service is streamlined, cost and time-efficient, and allows businesses and their employees to be as international as modern business demands. Whether you’re making online transactions such as paying for online advertising or paying suppliers, or travelling overseas, this card will make life easier. Businesses can retain control while their employees are able to quickly and affordably make payments. Small businesses are becoming more international, meaning solutions like this go a long way.”

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