Wise Test Wise Wise Business Account Tools 2 — Questions and Answers
Question 1: Which Wise Business feature allows you to hold balances in multiple currencies simultaneously?
- Multi-currency account (Correct answer)
- Currency converter
- FX hedging tool
- Global wallet lock
Correct answer: Multi-currency account
The Wise Business multi-currency account lets businesses hold, send, and receive money in 40+ currencies from a single account.
Question 2: What is the primary purpose of the Wise Business debit card for US businesses?
- Earning cashback rewards on purchases
- Spending directly from multi-currency balances at the mid-market rate (Correct answer)
- Accessing ATM cash globally for free unlimited times
- Automating recurring subscription payments
Correct 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.
Question 3: How does Wise Business handle payroll payments to international employees?
- Only supports domestic ACH transfers
- Allows batch payments to multiple recipients in different countries and currencies (Correct answer)
- Requires a separate Wise Payroll subscription
- Integrates exclusively with QuickBooks payroll
Correct 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.
Question 4: What does the Wise Business API primarily enable for companies?
- Automated currency hedging contracts
- Programmatic sending, receiving, and tracking of international payments (Correct answer)
- Direct integration with the SWIFT network
- Real-time stock price feeds for treasury management
Correct 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.
Question 5: When a US business receives a payment to its Wise USD account details, which payment rail does the payer typically use?
- Wire transfer only
- ACH or wire transfer via the provided US routing and account numbers (Correct answer)
- SWIFT only
- Zelle peer-to-peer network
Correct 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.
Question 6: Which of the following best describes Wise Business's QuickBooks integration?
- It automatically files tax returns via QuickBooks
- It syncs Wise transactions and balances directly into QuickBooks for reconciliation (Correct answer)
- It replaces QuickBooks invoicing features entirely
- It only imports USD transactions, not foreign currency ones
Correct 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.
Question 7: What is a key benefit of using Wise Business team features to issue multiple user accounts?
- Each team member gets a separate Wise Business subscription at no extra cost
- You can grant employees role-based access and spending permissions without sharing your main login (Correct answer)
- Team accounts earn double conversion rate benefits
- All team members automatically become account owners with full withdrawal rights
Correct 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.
Wise Test Wise Wise Business Account Tools 2
Which Wise Business feature allows you to hold balances in multiple currencies simultaneously?