Wise Test Wise Wise Business Account Tools 4

Question 1

How does Wise Business verify the identity of a new US business applicant?

Accepted Answer

Business registration documents, ownership details, and director ID verification are required

Answer

Only an email address and password are required

Answer

A US notarized letter from an attorney is mandatory

Answer

Verification is waived for LLCs with less than $50,000 in annual revenue

Question 2

When using the Wise Business batch payment feature, what file format is typically used to upload multiple recipient details at once?

Accepted Answer

CSV

Answer

PDF

Answer

XML

Answer

DOCX

Question 3

Which of the following is NOT a currency that Wise Business accounts can hold a balance in?

Accepted Answer

BTC (Bitcoin)

Answer

EUR

Answer

GBP

Answer

AUD

Question 4

What is the purpose of Wise Business's 'Statements' tool?

Accepted Answer

To download account statements for specific currencies and date ranges for accounting and auditing

Answer

To generate tax filing forms directly submitted to the IRS

Answer

To automatically calculate import duties on international purchases

Answer

To produce profit and loss reports from transaction data

Question 5

A US business wants to pay a UK supplier in GBP. Which Wise Business fee structure applies?

Accepted Answer

A small percentage-based conversion fee on the USD-to-GBP exchange plus a possible transfer fee

Answer

A flat $25 wire fee regardless of amount

Answer

No fee because Wise is free for business-to-business payments

Answer

A monthly subscription covers unlimited GBP payments at no extra cost

Question 6

How can a Wise Business account holder confirm that a recipient's bank details are valid before sending a large payment?

Accepted Answer

Use Wise's recipient validation feature that checks account details against banking databases

Answer

Send a test transfer of $0.01 and verify it is received

Answer

Call Wise customer support to manually verify each recipient

Answer

Send an email to the recipient asking them to confirm their IBAN

Question 7

Which Wise Business integration allows e-commerce sellers to automatically receive marketplace payouts in multiple currencies?

Accepted Answer

Wise provides local currency account details that marketplaces like Amazon use to pay sellers

Answer

Wise connects directly with Shopify checkout for instant settlement

Answer

Wise integrates with eBay to auto-convert seller proceeds into USD daily

Answer

Wise offers a dedicated e-commerce plugin that splits payment gateway fees