What it means to be wise!

Calling all small business owners, modern business owners, freelancers, internet entrepreneurs: are you looking for the perfect match when it comes to choosing a digital bank? I was recently, and I know how difficult this search can be.

When you're running a business, big or small, you have to find the right tools to empower your business to foster success. With so many options out there today that offer a myriad of capabilities, choosing the right tools can be a grueling and frustrating task, and choosing a bank is no exception. How do you know you've chosen the right solution?

When I was looking for a business bank account, I spent at least 2 weeks scanning the internet, reading everything I could about each bank possibility. When I found Wise, I knew I had found the perfect match for a business bank account. What I didn't know is that when I signed up for Wise, I was getting way more than just a banking solution.

I would tell anyone who is looking for a business bank to check out Wise. When I say this, I say it from outside of my role on the Wise team. I fell in love with Wise as a prospective customer in search of the right bank. It is amazing to work in marketing at a company you genuinely connect with, but when I recommend Wise it's because I would as a customer. With that, back to why Wise!

Made by modern business owners for the modern business owner, Wise is designed specifically to empower digital businesses, all through digital solutions that go beyond the capabilities of a traditional bank.

Picture this. You're a small advertising agency running your new, modern business entirely online. You have clients you need to bill, employees you need to pay, cash flow you need to monitor, and banking tasks that need to be completed. When you choose Wise, all these needs are fulfilled through an all-in-one product via a single, easy-to-use app.

Keeping with the online advertising agency example, imagine work has been delivered to the client and now it's time for you to get paid. Before Wise, perhaps you'd use Square or PayPal to collect payments. Both are great options, but once payment is received, the funds live within each platform until you take an additional step - transferring the funds to a linked bank account or a debit card.

There may be some limitations here imposed by each platform - including the number of times you can transfer funds out and the possibility of delays. Let's not forget the fees that come with transferring funds with these platforms. Wouldn't it be great if when you collected payment from a client, your money would go straight into your bank account - delay and fee-free?

With Wise, you not only get a bank account designed specifically for businesses, but you also get a full-service payment solution. From the Wise app, you can create and send invoices to clients. When your client receives the invoice, they will be given the option to pay by bank (ACH) transfer or card. The best part? Once the client completes the payment, the funds go straight into your Wise banking account, ready for your use - and in most cases, immediately.

Continuing with our example scenario - say another person worked on the project your client just paid for, and they need to get paid for their work, too. With Wise, you won't have to step outside of the Wise app or use another platform to pay these employees. Just as you created and sent an invoice from within the Wise app, you can just as easily pay someone at the click of a button.

This is what amazed me, and what I didn't initially realize when I signed up for Wise. I thought I was getting a checking account that would hold money, and that was it. Instead, I got a full-package -- digital banking, invoicing and making payments. Wise fulfilled multiple business needs of mine.

It's also worth mentioning that Wise is not only for online businesses. Wise offers an in-person card reader for those businesses with physical store locations looking for more digital solutions. The card reader enables all digital benefits to your business by accepting a physical payment in-person - it works the same way. That transaction will land straight in the Wise bank account, ready to use immediately.

To summarize simply, with Wise you can bank, pay, and get paid - all in one app, anywhere, anytime. I found out that Wise goes beyond the typical, traditional bank - you can find out, too.


October 27, 2020
Arjun Thyagarajan