Wise Test Wise Wise Business Account Tools 3

Question 1

What happens to a Wise Business balance conversion if you don't have enough funds in the source currency?

Accepted Answer

The transfer is cancelled automatically

Answer

If the source currency balance is insufficient and auto-convert is not configured, Wise cancels the transfer rather than overdrafting.

Question 2

Which statement about Wise Business's mid-market exchange rate is accurate?

Accepted Answer

It is the rate found on Google or Reuters with no hidden markup added by Wise

Answer

Wise uses the real mid-market rate (the midpoint between buy and sell rates) with no markup; fees are charged separately as a transparent percentage.

Question 3

Which Wise Business tool is designed to help companies manage expenses submitted by employees?

Accepted Answer

Wise Business debit cards with team spending limits

Answer

Wise Business allows businesses to issue debit cards to team members with spending limits, effectively managing employee expenses within the account.

Question 4

How does Wise Business display its fees for international transfers?

Accepted Answer

Fees are shown upfront as a percentage plus a fixed component before you confirm the transfer

Answer

Wise shows the exact fee—broken into a percentage of the transfer amount and a fixed fee—before you confirm, so there are no surprises.

Question 5

What is the function of Wise Business's 'Jar' or savings feature for businesses holding currency balances?

Accepted Answer

It lets businesses set aside funds in a separate pot within their account for budgeting purposes

Answer

Wise's pot/jar-like feature lets businesses ring-fence money within their account for specific purposes, aiding cash flow management without locking funds.

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Wise Test Wise Wise Business Account Tools 3