As business owners ourselves, we know there are times when you need to pay a contractor or vendor right away. We also know it can create stress because we’ve been there! Sadly, most of the existing banking and payment options available don’t help you with this important task without jumping through hoops and paying fees. No longer!
Instant by Wise✨
This is a new payment solution that allows you to send money directly from your business checking account to any 3rd party that has a US-based Visa debit card, instantly. Many instant payment solutions are wallet-to-wallet (think Venmo or Paypal), which means the recipient still needs to transfer the money to a bank account, taking more time and money, especially over weekends and holidays when ACH transfers are frozen. In just a few steps you can send money instantly and directly to someone’s bank account using Instant by Wise. It’s super easy to use, as you can see below!
New Transaction Details 💸
One of the things that have frustrated us with existing banking apps is the lack of easy-to-read information about a transaction. That single line of cut-off data is not very useful to a business owner, is it? With Wise, you get a lot more actionable and useful data, and in our latest update, you can now see details that help you understand each transaction and manage them. You can view the source and destination account information, location (when available), and attach receipts. You can also add private notes to each transaction for business tracking. The more information you have at your fingertips, the faster you can move!
More Payment Options 💳
When you send an invoice for payment, you can now decide if you want the recipient to be able to pay via card (2% fee) or via Bank Transfer (ACH). Card-based payments are instant when requested through Wise! We put the money into your account as soon as the 3rd party makes the payment. Bank Transfer based payments will take 1-2 business days to post to your account, and have no transaction or processing fees. You are in control and get to decide what is best for your business or your customer’s preference. Note: For transactions over $10,000 USD, Bank Transfer (ACH) will be automatically selected.
Other Useful Updates! 🚀
We have been working hard to speed up your business workflow with Wise. In this latest update, you’ll find some useful improvements to Contacts, where you can now see transaction and invoice history that you have with each contact. You can also view invoice status and send reminders for unpaid invoices!
We love hearing from customers, so if you have any questions or would like to see something added to Wise, just drop us a note here!