Payroll & Benefits · head to head
Oyster vs Wise Business

Wise Business
Accounting & Finance
The smart way to send and receive business payments
- From
- $29/month
- Rated
- -
The short version
- Only Oyster has a free tier, so it costs nothing to try first.
- Each has a real cost: Oyster employer of Record is $699 per employee per month, with the discount tied to annual billing; Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
- They diverge on capability: Oyster covers Global Employment, Wise Business covers Multi-currency accounts.
Where they differ
Only the attributes on which Oyster and Wise Business actually diverge.
| Attribute | Oyster | Wise Business |
|---|---|---|
| Starting price | Free | $29/month |
| Pricing model | subscription | usage-based |
| Free tier | Yes | No |
| Platforms | Web, Ios, Android | Web, Ios, Android, Api |
| Category | Payroll & Benefits | Accounting & Finance |
| Founded | 2020 | 2011 |
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 Oyster
- Global Employment
- Payroll
- Benefits
- Compliance
- Contractor Management
- Time Off
- Expenses
- BambooHR
Only in Wise Business
- Multi-currency accounts
- International transfers
- Batch payments
- API access
- Team management
- Xero
- Various
- FCA regulated
Both cover
- QuickBooks
- Web support
- Ios support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Oyster
- Hiring employees abroad without setting up a local legal entitynot Wise Business
- Onboarding and paying international contractorsnot Wise Business
- Getting country specific employment compliance advice for distributed teamsnot Wise Business
Wise Business
- Holding and converting multiple currencies as a businessnot Oyster
- Paying international suppliers and contractors at the mid market ratenot Oyster
- Receiving payments into local currency account details in several countriesnot Oyster
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Oyster
- Employer of Record is $699 per employee per month, with the discount tied to annual billing
- A refundable deposit is required before an EOR engagement starts
- Contractor management is free for 30 days then $29 per contractor per month
- HR advisory through People Partner Services is billed at $300 per hour on top of the subscription
- A currency conversion fee applies when you pay Oyster in a currency other than the contract currency
- Payments are accepted only by direct debit or wire in USD, EUR, GBP or CAD
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
Oyster
Free- Contractor$29/month
- Contractor Payments
- Compliant Contracts
- Invoicing
- Employee$599/month
- Global Employment
- Payroll
- Benefits
Wise Business
$29/month- StandardFree
- Multi-currency account
- Real exchange rate
- Batch payments
Which should you pick?
Choose Oyster if
- You need global employment.
- You want to start without paying.
- You work on Web, Ios, Android.
- You also want payroll.
Choose Wise Business if
- You need multi-currency accounts.
- You work on Web, Ios, Android, Api.
- You also want international transfers.
Questions people ask
- Is Oyster or Wise Business better?
- Neither clearly leads. Oyster 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, Oyster or Wise Business?
- Oyster has a free tier; the other does not. Paid plans start at Free for Oyster and $29/month for Wise Business.
- Does Oyster or Wise Business run on more platforms?
- Oyster runs on Web, Ios, Android. Wise Business runs on Web, Ios, Android, Api.
- Can I use Oyster for free?
- Yes. Oyster has a free tier, so you can try it without paying. Wise Business starts at $29/month.
- What is Oyster best used for?
- Oyster is most often used for hiring employees abroad without setting up a local legal entity, onboarding and paying international contractors, getting country specific employment compliance advice for distributed teams. Of those, hiring employees abroad without setting up a local legal entity and onboarding and paying international contractors are not what Wise Business is typically brought in for.
- What can Oyster do that Wise Business cannot?
- Oyster covers Global Employment, Payroll, Benefits, Compliance. Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access. Both handle QuickBooks, Web support, Ios support, Android support.
Related pages
More on Wise Business
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