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Accounting & Finance · head to head

Wise Business vs Empower

Wise Business logo

Wise Business

Accounting & Finance

The smart way to send and receive business payments

From
$29/month
Rated
-
Full reviewWebsite
Empower logo

Empower

Accounting & Finance

All your finances. One app.

From
$29/month
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP; Empower empower's managed advisory tiers require a minimum of $100,000 in investable assets for Personal Strategy and $1,000,000 for Private Client, with exact advisory fee percentages deferred to the Form ADV filing rather than published on the site.
  • They diverge on capability: Wise Business covers Multi-currency accounts, Empower covers Net worth tracking.

Where they differ

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

Attributes where Wise Business and Empower differ
AttributeWise BusinessEmpower
Pricing modelusage-basedfreemium
PlatformsWeb, Ios, Android, ApiWeb, Ios, Android
Founded20112009

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

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 Wise Business

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

Only in Empower

  • Net worth tracking
  • Investment tracking
  • Retirement planner
  • Cash flow
  • 401k fee analyzer
  • Bank connections
  • Brokerage accounts
  • SOC 2

Both cover

  • Web support
  • Ios support
  • Android support

What people use each for

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

Wise Business

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

Empower

  • Wealth trackingnot Wise Business
  • Retirement planningnot Wise Business
  • Investment analysisnot Wise Business

Where each one falls short

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

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

Empower

  • Empower's managed advisory tiers require a minimum of $100,000 in investable assets for Personal Strategy and $1,000,000 for Private Client, with exact advisory fee percentages deferred to the Form ADV filing rather than published on the site.

Pricing, plan by plan

Wise Business

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

Empower

$29/month
  • Free ToolsFree
    • Net worth tracking
    • Cash flow
    • Investment checkup
  • Wealth ManagementFree
    • 0.89% AUM fee
    • Dedicated advisor
    • Tax optimization

Which should you pick?

Choose Wise Business if

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

Choose Empower if

  • You need net worth tracking.
  • You work on Web, Ios, Android.
  • You also want investment tracking.
Empower review

Questions people ask

Is Wise Business or Empower better?
Neither clearly leads. Wise Business starts at $29/month and Empower at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Wise Business or Empower?
Wise Business starts at $29/month and Empower at $29/month.
Does Wise Business or Empower run on more platforms?
Wise Business runs on Web, Ios, Android, Api. Empower runs on Web, Ios, Android.
What is Wise Business best used for?
Wise Business is most often used for holding and converting multiple currencies as a business, paying international suppliers and contractors at the mid market rate, receiving payments into local currency account details in several countries. Of those, holding and converting multiple currencies as a business and paying international suppliers and contractors at the mid market rate are not what Empower is typically brought in for.
What can Wise Business do that Empower cannot?
Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access. Empower covers Net worth tracking, Investment tracking, Retirement planner, Cash flow. Both handle Web support, Ios support, Android support.
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