Wise Personal vs Business in the Philippines: Which Account Should You Choose?

Wise is a global fintech company on a mission to make money move without borders. It offers fast, low-cost international transfers and multi-currency accounts for personal and business use, always using the mid-market exchange rate with no hidden fees.

In the Philippines, Wise is licensed and regulated by the Bangko Sentral ng Pilipinas and fully complies with local regulations. As a global business, Wise is also overseen by financial authorities in multiple countries and must meet strict regulatory requirements worldwide.

Wise first built its reputation by helping individuals break free from the high costs and slow transfer times of traditional banks. Building on that success, it launched its Business account in 2016 to meet strong demand from startups, SMEs, and freelancers who faced similar challenges with cross-border payments.

If you're wondering whether to open a personal or business account with Wise, this article is for you! Here's what we'll cover:

Table of contents
Wise Business vs Personal account: side-by-side comparison What's the difference between the Wise personal account and business account in the Philippines? Key features of Wise Business in the Philippines Wise Personal vs Business Account fees Can Wise be used for business in the Philippines? How to apply for a Wise Business Account

Please see Terms of Use for your region and product availability or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

Wise Business vs Personal account: side-by-side comparison

While both personal and business accounts are great for sending and receiving money abroad, Wise Business adds on some important features that make it better suited for companies and sole traders, such as invoices, batch payments, and team access.

Here's a quick overview of the main differences — with more detail on each in the sections below.

Feature	Business	Personal
International transfers at the mid-market rate with low, transparent fees	✔️	✔️
Hold over 40+ currencies	✔️	✔️
Local account details for 10+ currencies	✔️	✔️
Send money to and withdraw cash in 230+ countries	✔️	✔️
Physical and digital cards	✔️	✔️
24/7 customer support	✔️	✔️
Free invoicing tool	✔️	❌
Accounting software integrations	✔️	❌
Batch payments	✔️	❌
Team member access with permissions	✔️	❌
Receive Stripe and Amazon payouts	✔️	❌
Wise open API	✔️	❌
Wise Business Card	✔️	❌
Employee cards and expense management	✔️	❌
Download statements, including tax statements, trade order report or holding statements	✔️	❌

*Details correct at time of research, 6th September 2025

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What's the difference between the Wise personal account and business account in the Philippines?

A Wise Personal account is ideal for managing your international personal finances, while a Wise Business account offers extra tools and, just as importantly, keeps your business transactions clearly separate from your personal ones.

Which account is right for you?

Let's say you're a virtual assistant (VA) or freelancer in the Philippines with only one or two international clients. In situations like this, many find that their Wise Personal account is sufficient, so they use it to manage both personal and business transactions—even though this isn't considered best practice.

On the other hand, if you're a web designer handling multiple clients at once, or you manage a team of freelancers or virtual assistants, a Wise Business account is definitely the better choice.

That's because, even if you only have a few clients, mixing personal and business finances isn't ideal, regardless of which bank or provider you use. Combining them can complicate accounting, compliance, tax filing, and financial reporting.

In addition to handy features like invoicing, team access, and accounting integrations, having a dedicated Wise Business account also shows that you're running a professional operation, which helps build credibility and trust with clients.

TL;DR:

• Wise Personal Account: Ideal for sending and receiving money from friends and family abroad, travel, and international spending. It can also work for freelancers with one or two clients, though a Business account is preferable, as mixing personal and business use isn't best practice.
• Wise Business Account: Built for businesses of all sizes, with specialized features that make running international operations easier. It keeps business transactions clearly separate for better compliance and helps project a more professional image.

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Key features of Wise Business in the Philippines

With a Wise Business account, you'll unlock a range of powerful features that aren't available with a personal account. Let's take a closer look at some of these benefits so you can see exactly how they help your business.

A Wise Business account lets you create invoices for free

Wise Business account holders can generate professional invoices for their customers in just a few clicks. Invoices can be issued in multiple currencies and include flexible payment options, such as bank transfer, Wise transfer, debit/credit card, and more.

Best of all, you'll be able to track the status of each invoice directly within your Wise Business account — right alongside your other business transactions — making it easier to keep all your business finances organized in one place.

Save time with Batch Payments

The Batch Payments feature lets you send up to 1,000 payouts at once by uploading a simple spreadsheet. Wise Business provides a ready-made template you can fill out, making it quick and easy to process bulk international payments.

You can pay recipients already saved in your Wise account, or send payments to new recipients by entering their bank details — or even just their email address. In the latter case, Wise will send them a secure link to enter their own bank information and receive payment.

This tool is a major time-saver if you need to make multiple payouts in one swoop — such as managing payroll or supplier invoices — and it's available exclusively to Wise Business account holders.

Integrate with accounting tools

Wise Business integrates seamlessly with leading accounting software, including Xero, QuickBooks, and Zoho Books. Once connected, transactions from your Wise Business account automatically sync into your chosen platform, helping eliminate manual data entry and keeping financial records accurate and up to date.

This feature is available only to Wise Business accounts, giving businesses greater financial visibility while saving time on administrative tasks.

Give your team access

If you work with a team, Wise Business makes it easy to share access safely. You can control what each user can see and do within your Wise Business account, based on their role and responsibilities.

This access extends to the Wise Business card as well. You can issue physical or digital cards to employees and set individual spending limits.

You can also create groups to organize team members and assign permissions accordingly. For example, you might set up a "Marketing" group and invite team members with permissions to "Pay with card" and "View account."

This allows them to manage campaign spend while restricting access to other sensitive settings and ensuring they can only use funds allocated to their group.

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Wise Personal vs Business Account fees

There are many similarities, as well as a few key differences, between the fees for Wise Personal and Business accounts. For example, with Wise Business, you and your team members each get your first physical card for free, while with a Personal account, there’s a small fee.

It’s also worth remembering that Wise Business gives you access to a suite of effective business tools—at no extra cost—that aren’t available with a Personal account. And unlike business accounts with most banks and providers, once you’ve paid the one-time ₱1,400 setup fee for Wise Business, you don’t need to worry about monthly or annual fees.

Here's a quick comparison of Wise Personal and Wise Business fees in the Philippines to give you a clear overview:

Service	Wise Personal	Wise Business
Register a Wise account	Free	Free
Monthly fee	No monthly fee	No monthly fee
Hold 40+ currencies	Free	Free
Order a Wise card	369.60 PHP one time fee	Free for first card for each team member 156.80 PHP for replacement
Send international payments	From 0.57%	From 0.57%
ATM withdrawals	2 withdrawals, to 12,000 PHP/month fee free*30 PHP + 1% after that	2 withdrawals, to 12,000 PHP/month fee free*30 PHP + 1% after that
Get account details for 20+ foreign currencies	Free	1,400 PHP one-time fee for full account features
Receive local payments in PHP, AUD, CAD, EUR, GBP, HUF, NZD, SGD, TRY, and USD (non SWIFT, non wire)	Free	Free
Receive USD wire or SWIFT	6.11 USD	6.11 USD
Receive GBP SWIFT payment	2.16 GBP	2.16 GBP
Topping up external e-wallets	2%	2%

*Details correct at time of research, 6th September 2025

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Can Wise be used for business in the Philippines?

Yes — the Wise Business account is specifically designed for commercial use. It is well-suited to businesses of all sizes in the Philippines, from sole traders to large enterprises, particularly those that work with international clients, partners, or suppliers.

Here are some examples of how different types of businesses in the Philippines can benefit from using Wise:

• Freelancers: Wise Business makes it simple for self-employed professionals in the Philippines to create and send invoices to international clients, receive payments in multiple currencies, and convert earnings to PHP at low fees. Funds can be withdrawn directly to a Philippine bank account or GCash.
• Startups: Remote teams can be paid in their local currencies and supported with digital cards, while global SaaS subscriptions and other expenses can be managed in one place with low fees. When raising capital, Wise Business also helps startups receive funds from investors worldwide in multiple currencies.
• SMEs: Obtain more than 10 local account details with Wise in major currencies (USD, EUR, GBP, etc.) to receive payments from global clients without fees. Hold balances in multiple currencies for future spending with overseas suppliers or partners. Simplify accounting with automatic integrations, and issue physical cards for employee expenses and withdrawals on business trips.

How to apply for a Wise Business Account

Opening a Wise Business account is simple and quick, and you can complete the process through either Wise's website or app. You'll just need your phone or laptop, along with a few key documents such as your government-issued ID or passport and your business registration details.

If you already have a Wise personal account, follow these steps:

1. Open the Wise app or log in at wise.com.
2. Tap on your profile icon at the top of the screen.
3. Select "Open an account" or "Open a business account."
4. Follow the on-screen prompts to enter your business details and upload the required documents.

If you don't have a Wise account yet, no worries—just:

1. Click here and follow the steps to set up your business account in minutes. Alternatively, download the Wise app, tap "Sign up," and choose to create a Business account.
2. Enter your email, name, and business details, upload the required documents, and wait for verification.

To unlock full access to all Wise Business features, you’ll need to pay a one-time fee of 1,400 PHP. Once verified, you can also order as many physical and digital Wise Business cards as your team needs, directly from your account.

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Can I switch my Wise account from Business to Personal?

Switching isn’t necessary. You can simply set up a personal account alongside your existing Wise business account.

Having separate accounts is considered best practice, as it helps you clearly distinguish between business and personal transactions. This makes it easier to manage expenses, organize receipts, keep accurate records, and prepare for audits.

To open a personal account while logged into your business account, click your profile icon at the top of the screen, select the option to open a personal account, and follow the prompts.

If you decide you no longer need the business account, you can withdraw any remaining funds and then close it. This will leave you with only the personal account.

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Try Wise Business

If you run a business in the Philippines—as a freelancer, startup founder, or small business owner—opening a dedicated business account to keep your personal and business finances separate is simply good practice.

If you're freelancing, you might already be using your Wise Personal account for business purposes. However, for the reasons mentioned earlier, this isn’t the best way to build a solid foundation for your growing business.

Plus, by opening a Wise Business account alongside your personal one, you’ll gain access to powerful features that make running your business easier and more professional.

With no monthly or annual fees, mid-market exchange rates, and some of the lowest conversion fees around, a Wise Business multi-currency account can benefit all types of businesses in the Philippines, whether you’re already a Wise user or just getting started.

💡Are bank accounts limited to USD, EUR, or GBP options holding back your business? With a Wise Business multi-currency account, you can access over 10 local account numbers — far more currency options than the handful most banks offer. Plus, Wise makes it easy to hold, send, receive, and exchange 40+ currencies from a single account. With the freedom to send and receive payments in more currencies globally, you can focus on what matters most: growing a local business that knows no borders.

• Obtain account details to receive payments in USD, EUR, GBP, SGD, HKD and more for a one-time fee of 1,400 PHP.
• Zero fees when you get paid via ACH, FAST, InstaPay/PESONet, & other local transfers.
• Send money to pay invoices, suppliers & contractors fast, with less fees
• Always get the mid-market rate with transparent conversion fees starting from 0.57%.
• Pay your bills and ad-hoc overseas expenses using the Wise Business card without hefty foreign transaction fees.
• Seamless integrations with popular accounting software.

➡️Get started with Wise Business today