← Back to all banks
Wise Business
EMI · not FDIC-insuredEasiest to open, with mid-market FX — best for cross-border, not primary US banking.
Official siteApplyRight field notes
Fastest to open — but Chinese-national owners get no USD account details, so no Stripe/Shopify Payments and no US ACH. Best as a cross-border / FX wallet, not a primary account. For Stripe/Shopify Payments, choose Mercury or Relay.
Eligibility at a glance
- Requires SSN
- No
- Overseas operating address
- No
- Intl wire (out)
- Free
- Virtual cards
- None
- Account manager
- None
Best for
- Freelancers and founders without a US entity (foreign companies accepted)
- Cross-border payments and multi-currency holding (40+ currencies)
- Low-to-moderate volume operations
- Anyone wanting real mid-market exchange rates
Where it falls short
- Owners who are Chinese nationals get no USD account details — can't connect Stripe/Shopify Payments, receive US ACH, or link other platforms that need US account details
- Not a bank — the standard account has no FDIC
- No savings interest
- Stricter KYC since the 2025 regulatory fine
- High-risk country users still face rejection
Restricted countries
CubaIranNorth KoreaSyriaRussiaBelarusCrimeaAfghanistanYemenSudanSomalia
Restricted industries
CannabisAdult contentGamblingFirearmsCrypto exchangeShell companiesWeapons
Documents to prepare
- Business registration number
- Registered address + operating address (may be in different countries; service is limited to what works in both)
- Industry classification + online business info (if any)
- Key people (directors, owners) plus the account opener's personal details
- If the opener isn't a director: proof of authorization (signed letter, power of attorney, or board resolution)
- The team may also request: proof of business registration, proof of operating address (utility bill / lease / bank statement), ownership docs (shareholder register / operating agreement), personal ID