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Accounting · head to head

Wise Business vs Xero

Wise Business logo

Wise Business

Accounting

The smart way to send and receive business payments

From
$29/month
Rated
-
Full reviewWebsite
Xero logo

Xero

Accounting

Beautiful accounting software

From
$13/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; Xero the Early plan caps you at 20 invoices and 5 bills per month, and the invoice limit counts both approving and sending
  • They diverge on capability: Wise Business covers Multi-currency accounts, Xero covers Bank reconciliation.
  • Prices and features above were last checked on 30 August 2026.

Where they differ

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

Attributes where Wise Business and Xero differ
AttributeWise BusinessXero
Starting price$29/month$13/month
Pricing modelusage-basedsubscription
Founded20112006

Identical on both: free tier (No), platforms (Web, Ios, Android, Api), user rating (Not yet rated), category (Accounting).

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 Xero

  • Bank reconciliation
  • Invoicing
  • Bill payment
  • Expense claims
  • Financial reporting
  • Inventory tracking
  • Project tracking
  • Mobile apps

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

Xero

  • Small business bookkeeping, invoicing and bank reconciliationnot Wise Business
  • Bill payment and purchase order managementnot Wise Business
  • Sharing books with an accountant or bookkeepernot 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

Xero

  • The Early plan caps you at 20 invoices and 5 bills per month, and the invoice limit counts both approving and sending
  • Invoices created by connected app partners count against the Early plan invoice limit
  • Multiple currencies, project time and cost tracking, employee expense and mileage claims and industry benchmarking are restricted to the top Established plan at $90 per month
  • Cash flow forecasting is capped at 30 days on Early and 60 days on Growing, with 180 days only on Established
  • Payroll is not included in any plan and costs an extra $36 a month plus $6 per employee or contractor through Gusto
  • Inventory Plus is a paid optional add-on rather than part of any plan
  • The advertised 90% off applies only to the first 6 months, after which the regular $25, $55 or $90 monthly price auto-renews
  • The introductory discount excludes add-ons, usage charges and payment fees
  • Payment fees apply to online invoice payments and to bill payments other than standard domestic ACH, and are billed on top of the subscription
  • Subscriptions are billed monthly with no annual payment option, and after upgrading you must wait one month before downgrading to a cheaper plan
  • Xero states subscription prices are increasing from October 1, 2026

Pricing, plan by plan

Wise Business

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

Xero

$13/month
  • Early$13/month
    • Send 20 invoices
    • Enter 5 bills
    • Reconcile bank transactions
  • Growing$37/month
    • Unlimited invoices & bills
    • Bulk reconcile transactions
    • Short-term cash flow
  • Established$70/month
    • Everything in Growing
    • Use multiple currencies
    • Track projects

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 Xero if

  • You need bank reconciliation.
  • You work on Web, Ios, Android, Api.
  • You also want invoicing.
Xero review

Questions people ask

Is Wise Business or Xero better?
Neither clearly leads. Wise Business starts at $29/month and Xero at $13/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Wise Business or Xero?
Wise Business starts at $29/month and Xero at $13/month.
Does Wise Business or Xero run on more platforms?
Both run on Web, Ios, Android, Api, so platform support will not decide this one for you.
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 Xero is typically brought in for.
What can Wise Business do that Xero cannot?
Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access. Xero covers Bank reconciliation, Invoicing, Bill payment, Expense claims.

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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