Wise Wise Business Account Tools Flashcards

Which Wise Business feature allows you to hold balances in multiple currencies simultaneously?

Answer: Multi-currency account

The Wise Business multi-currency account lets businesses hold, send, and receive money in 40+ currencies from a single account.

What is the primary purpose of the Wise Business debit card for US businesses?

Answer: Spending directly from multi-currency balances at the mid-market rate

The Wise Business debit card lets you spend directly from your currency balances using the mid-market exchange rate with low conversion fees.

How does Wise Business handle payroll payments to international employees?

Answer: Allows batch payments to multiple recipients in different countries and currencies

Wise Business supports batch payments, letting companies pay multiple international employees or contractors in their local currencies in one upload.

What does the Wise Business API primarily enable for companies?

Answer: Programmatic sending, receiving, and tracking of international payments

The Wise Business API lets developers automate payment workflows, check balances, and track transfers programmatically within their own systems.

When a US business receives a payment to its Wise USD account details, which payment rail does the payer typically use?

Answer: ACH or wire transfer via the provided US routing and account numbers

Wise provides US businesses with local routing and account numbers so payers can send funds via ACH or domestic wire without international fees.

Which of the following best describes Wise Business's QuickBooks integration?

Answer: It syncs Wise transactions and balances directly into QuickBooks for reconciliation

The Wise-QuickBooks integration automatically imports transactions and balance data into QuickBooks, simplifying bookkeeping reconciliation.

What is a key benefit of using Wise Business team features to issue multiple user accounts?

Answer: You can grant employees role-based access and spending permissions without sharing your main login

Wise Business lets account owners create team members with defined roles and permissions, keeping the main account secure while enabling collaborative management.