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Software · head to head

Paychex vs Wise Business

Paychex logo

Paychex

Software

HR solutions built for your business

From
$29/month
Rated
-
Full reviewWebsite
Wise Business logo

Wise Business

Software

The smart way to send and receive business payments

From
$29/month
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Paychex paychex Flex pricing is not published; it depends on employee count and business needs and requires contacting sales for a custom quote across Select, Pro and Enterprise tiers; Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • They diverge on capability: Paychex covers Payroll processing, Wise Business covers Multi-currency accounts.

Where they differ

Only the attributes on which Paychex and Wise Business actually diverge.

Attributes where Paychex and Wise Business differ
AttributePaychexWise Business
Pricing modelsubscriptionusage-based
PlatformsWeb, Ios, AndroidWeb, Ios, Android, Api
Founded19712011

Identical on both: starting price ($29/month), free tier (No), user rating (Not yet rated), category (Unknown).

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 Paychex

  • Payroll processing
  • HR services
  • Benefits administration
  • Time & attendance
  • PEO services
  • Sage
  • SOC 1/2
  • SSAE 18

Only in Wise Business

  • Multi-currency accounts
  • International transfers
  • Batch payments
  • API access
  • Team management
  • Various
  • FCA regulated
  • Bank-level security

Both cover

  • QuickBooks
  • Xero
  • Web support
  • Ios support
  • Android support

What people use each for

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

Paychex

  • Businesses with 1 to 250+ employees needing payroll, willing to get a custom quote rather than self-serve pricingnot Wise Business

Wise Business

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

Where each one falls short

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

Paychex

  • Paychex Flex pricing is not published; it depends on employee count and business needs and requires contacting sales for a custom quote across Select, Pro and Enterprise tiers

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

Paychex

$29/month
  • Flex Essentials$39/month
    • Payroll
    • Tax administration
    • Direct deposit
  • Flex Select$59/month
    • HR administration
    • State unemployment insurance
    • New hire reporting

Wise Business

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

Which should you pick?

Choose Paychex if

  • You need payroll processing.
  • You work on Web, Ios, Android.
  • You also want hr services.
Paychex 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 Paychex or Wise Business better?
Neither clearly leads. Paychex starts at $29/month and Wise Business at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Paychex or Wise Business?
Paychex starts at $29/month and Wise Business at $29/month.
Does Paychex or Wise Business run on more platforms?
Paychex runs on Web, Ios, Android. Wise Business runs on Web, Ios, Android, Api.
What is Paychex best used for?
Paychex is most often used for businesses with 1 to 250+ employees needing payroll, willing to get a custom quote rather than self-serve pricing. Of those, businesses with 1 to 250+ employees needing payroll, willing to get a custom quote rather than self-serve pricing is not what Wise Business is typically brought in for.
What can Paychex do that Wise Business cannot?
Paychex covers Payroll processing, HR services, Benefits administration, Time & attendance. Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access. Both handle QuickBooks, Xero, Web support, Ios support.
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