Opening a Business Bank Account with Wise in the UK: Updated 2025 Guide

Open a Wise account in the UK

Do you have a company in the United Kingdom and are looking for an efficient, international, and hassle-free financial solution? Opening a business bank account with Wise in the UK (formerly TransferWise) might be the key to optimizing your international operations. In this article, we explain step by step how to do it, what requirements you need to meet, and why more and more entrepreneurs are choosing this alternative over traditional banking.

Why Open a Wise Account for Your UK Business?

Wise has become a leading platform for international money management due to its transparency, low costs, and speed. Specifically, for companies registered in the UK, it offers specific advantages that make it a smart alternative to traditional banks such as Barclays, HSBC, or Lloyds.

Main Benefits:

• First, Wise offers a multi-currency account. You can send and receive payments in over 50 currencies using real exchange rates.

• Next, you get local bank details in GBP, EUR, USD, and more. It’s like having bank accounts in multiple countries.

• Also, Wise charges low fees. There are no hidden costs or monthly charges.

• Finally, it works well with accounting tools like Xero and QuickBooks. This makes managing your finances easier.

Taken together, these features make Wise ideal for freelancers, e-commerce businesses, startups, and international service companies based in the UK.

Requirements to Open a Business Account with Wise in the UK

So, to create your Wise business account, you need to meet certain legal and documentation requirements. Luckily, the process is digital and very streamlined if your company is already registered with Companies House (the UK’s company registry).

Required Documentation:

• Company details: Registration number, UK business address, and type of activity.
• Director or owner information: ID document and proof of address.
• Business activity verification: In some cases, Wise will request invoices, contracts, or a functional website to verify the nature of your business.

After submitting everything, the process will be complete and your account will be ready in a few days. Compared to opening a traditional UK bank account, which can take weeks or even require an in-person appointment, this method is far quicker.

Step-by-Step: How to Open Your Wise Business Account

1. Register on Wise:
   Go to wise.com/business and select “Create account.” Choose the “business” account type.
2. Fill in your company information:
   Next, include all legal and tax details. Make sure they match what is registered with Companies House.
3. Upload the required documents:
   At this point, Wise will indicate which documents you need to upload to verify your identity and business activity.
4. Wait for verification:
   This usually takes 1 to 3 business days. You will receive an email when your account is active.
5. Start using your account:
   Once approved, you can begin receiving payments, sending money, and managing your account in multiple currencies.

SEO TIP: How to Boost Your Business Positioning Using Wise

Using Wise not only improves your financial management, but it also enhances your international SEO positioning—particularly if you work with clients in different countries. Here are some practical tips:

• Start by using localized domains like .co.uk or .com. This helps your site rank in different countries.

• Then, make sure your website loads fast. A quick payment experience keeps users from leaving.

• Also, show Wise and other global payment options on your website. This builds trust with international customers.

• Lastly, share Wise receipts or payment confirmations. They act as social proof for your business.

Is It Legal to Use Wise as Your Primary Business Account in the UK?

Yes, absolutely. Wise is registered and regulated by the FCA (Financial Conduct Authority) in the UK and complies with all AML (Anti-Money Laundering) regulations. Therefore, you can use Wise as your primary business account as long as it meets your company’s needs and HMRC (UK tax authority) accounting requirements.

However, some accountants may recommend also having a traditional bank account as a backup—especially if you work with large UK suppliers or need access to certain types of loans.

Conclusion: Wise, the Smart Alternative for UK Businesses

Opening a Wise business bank account for your registered UK company is not only possible but also advisable if you’re looking for efficiency, agility, and savings. Thanks to its cost structure, compatibility with accounting tools, and digital-first approach, it remains one of the best options for modern entrepreneurs.

So, ready to step into the future of banking?
If so, get started with Wise Business today and optimize your borderless finances.