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Personal Finance · head to head

Cash App vs Wise Business

Cash App logo

Cash App

Personal Finance

Money sent in seconds

From
Free
Rated
-
Full reviewWebsite
Wise Business logo

Wise Business

Accounting

The smart way to send and receive business payments

From
$29/month
Rated
-
Full reviewWebsite

The short version

  • Only Cash App has a free tier, so it costs nothing to try first.
  • Each has a real cost: Cash App the App Store listing states free ATM withdrawals and up to 200 dollars in free overdraft coverage on the Cash App Card are only available once a user qualifies for Green status, not to all users by default.; Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • They diverge on capability: Cash App covers Money transfers, Wise Business covers Multi-currency accounts.

Where they differ

Only the attributes on which Cash App and Wise Business actually diverge.

Attributes where Cash App and Wise Business differ
AttributeCash AppWise Business
Starting priceFree$29/month
Pricing modelfreeusage-based
Free tierYesNo
PlatformsIOS, AndroidWeb, Ios, Android, Api
CategoryPersonal FinanceAccounting
Founded20132011

Identical on both: user rating (Not yet rated).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Cash App

  • Money transfers
  • Direct deposit
  • Bitcoin trading
  • Stock investing
  • Bank accounts
  • Cash Card
  • IOS support

Only in Wise Business

  • Multi-currency accounts
  • International transfers
  • Batch payments
  • API access
  • Team management
  • Xero
  • QuickBooks
  • Various

Both cover

  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Cash App

  • Budget Managementnot Wise Business
  • Expense Trackingnot Wise Business
  • Investment Trackingnot Wise Business

Wise Business

  • Holding and converting multiple currencies as a businessnot Cash App
  • Paying international suppliers and contractors at the mid market ratenot Cash App
  • Receiving payments into local currency account details in several countriesnot Cash App

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Cash App

  • The App Store listing states free ATM withdrawals and up to 200 dollars in free overdraft coverage on the Cash App Card are only available once a user qualifies for Green status, not to all users by default.

Wise Business

  • Opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • Volume discounts on transfers start only above 20,000 GBP equivalent sent per month

Pricing, plan by plan

Cash App

Free
  • FreeFree
    • Money transfers
    • Direct deposit
    • Mobile app
  • Cash App Investing$undefined/month
    • Stock trading
    • Bitcoin trading

Wise Business

$29/month
  • StandardFree
    • Multi-currency account
    • Real exchange rate
    • Batch payments

Which should you pick?

Choose Cash App if

  • You need money transfers.
  • You want to start without paying.
  • You work on IOS, Android.
  • You also want direct deposit.
Cash App review

Choose Wise Business if

  • You need multi-currency accounts.
  • You work on Web, Ios, Android, Api.
  • You also want international transfers.
Wise Business review

Questions people ask

Is Cash App or Wise Business better?
Neither clearly leads. Cash App starts at Free and Wise Business at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Cash App or Wise Business?
Cash App has a free tier; the other does not. Paid plans start at Free for Cash App and $29/month for Wise Business.
Does Cash App or Wise Business run on more platforms?
Cash App runs on IOS, Android. Wise Business runs on Web, Ios, Android, Api.
Can I use Cash App for free?
Yes. Cash App has a free tier, so you can try it without paying. Wise Business starts at $29/month.
What is Cash App best used for?
Cash App is most often used for budget management, expense tracking, investment tracking. Of those, budget management and expense tracking are not what Wise Business is typically brought in for.
What can Cash App do that Wise Business cannot?
Cash App covers Money transfers, Direct deposit, Bitcoin trading, Stock investing. Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access. Both handle Android support.

Answered from the vendors’ own pages

Wise Business: How fast are international transfers with Wise Business?

Wise Business offers fast global payments with 70% arriving in 20 seconds and 95% arriving in under 24 hours. You can also pay up to 1,000 contacts in a single batch transfer.

Source
Wise Business: Does Wise Business offer volume discounts?

Yes, volume discounts are available on monthly transfers over 20,000 GBP or equivalent.

Source
Wise Business: How does Wise Business keep funds secure?

Wise customers move over AED60 billion monthly with systems built to keep funds safe. The company runs over 7 million daily fraud checks (80 per second), keeps funds diversified with secure financial institutions, and offers 24/7 customer support.

Source
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