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Software · head to head

Wise Business vs FloQast

Wise Business logo

Wise Business

Software

The smart way to send and receive business payments

From
$29/month
Rated
-
Full reviewWebsite
FloQast logo

FloQast

Software

Close management software for accounting teams

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; FloQast no pricing is published, and the vendor states packages scale with business outcomes rather than seat count, which gives a buyer no unit to estimate against
  • They diverge on capability: Wise Business covers Multi-currency accounts, FloQast covers Close management.

Where they differ

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

Attributes where Wise Business and FloQast differ
AttributeWise BusinessFloQast
Pricing modelusage-basedsubscription
PlatformsWeb, Ios, Android, ApiWeb
Founded20112013

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 Wise Business

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

Only in FloQast

  • Close management
  • Reconciliation
  • Flux analysis
  • Audit prep
  • Team collaboration
  • NetSuite
  • Sage
  • Excel

Both cover

  • QuickBooks
  • Web 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 FloQast
  • Paying international suppliers and contractors at the mid market ratenot FloQast
  • Receiving payments into local currency account details in several countriesnot FloQast

FloQast

  • Managing the accounting close with checklists and reconciliationsnot Wise Business
  • Automating account reconciliation and compliance workflowsnot 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

FloQast

  • No pricing is published, and the vendor states packages scale with business outcomes rather than seat count, which gives a buyer no unit to estimate against
  • The product is split into five separately packaged solution categories
  • Every route to a figure runs through a personalised demo

Pricing, plan by plan

Wise Business

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

FloQast

$29/month
  • StandardFree
    • Custom pricing
    • Close management
    • Reconciliation

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 FloQast if

  • You need close management.
  • You also want reconciliation.
FloQast review

Questions people ask

Is Wise Business or FloQast better?
Neither clearly leads. Wise Business starts at $29/month and FloQast at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Wise Business or FloQast?
Wise Business starts at $29/month and FloQast at $29/month.
Does Wise Business or FloQast run on more platforms?
Wise Business runs on Web, Ios, Android, Api. FloQast runs on Web.
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 FloQast is typically brought in for.
What can Wise Business do that FloQast cannot?
Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access. FloQast covers Close management, Reconciliation, Flux analysis, Audit prep. Both handle QuickBooks, Web support.
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