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Accounting · head to head

Wise Business vs YNAB

Wise Business logo

Wise Business

Accounting

The smart way to send and receive business payments

From
$29/month
Rated
-
Full reviewWebsite
YNAB logo

YNAB

Personal Finance

You Need A Budget

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only YNAB has a free tier, so it costs nothing to try first.
  • Each has a real cost: Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP; YNAB subscription priced exclusively in US dollars; international customers face unfavourable exchange rates
  • They diverge on capability: Wise Business covers Multi-currency accounts, YNAB covers Zero-based budgeting.

Where they differ

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

Attributes where Wise Business and YNAB differ
AttributeWise BusinessYNAB
Starting price$29/monthFree
Pricing modelusage-basedsubscription
Free tierNoYes
PlatformsWeb, Ios, Android, ApiWeb, iOS, Android
CategoryAccountingPersonal Finance
Founded20112004

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 Wise Business

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

Only in YNAB

  • Zero-based budgeting
  • Bank sync
  • Goal tracking
  • Reports
  • Multi-device sync
  • Bank connections
  • Plaid
  • Bank-level encryption

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

YNAB

  • Personal and household budget trackingnot Wise Business
  • Debt management and repayment planningnot Wise Business
  • Family financial planning with multiple usersnot 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

YNAB

  • Subscription priced exclusively in US dollars; international customers face unfavourable exchange rates
  • Multi-currency support restricted to one currency per spending plan
  • Bank import limited to select institutions in US, Canada, UK, and EU only
  • Household plan can only be shared with up to 6 people; additional members cannot access shared plan

Pricing, plan by plan

Wise Business

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

YNAB

Free
  • Annual Subscription$109/year
    • 34-day free trial with no credit card required
    • No credit card required to start
    • Share access with up to 6 people at no additional cost
  • Monthly Subscription$14.99/month
    • Share access with up to 6 people at no additional cost
    • Real-time account syncing
    • Bank connection and transaction tracking

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 YNAB if

  • You need zero-based budgeting.
  • You want to start without paying.
  • You work on Web, iOS, Android.
  • You also want bank sync.
YNAB review

Questions people ask

Is Wise Business or YNAB better?
Neither clearly leads. Wise Business starts at $29/month and YNAB at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Wise Business or YNAB?
YNAB has a free tier; the other does not. Paid plans start at $29/month for Wise Business and Free for YNAB.
Does Wise Business or YNAB run on more platforms?
Wise Business runs on Web, Ios, Android, Api. YNAB runs on Web, iOS, Android.
Can I use YNAB for free?
Yes. YNAB has a free tier, so you can try it without paying. Wise Business starts at $29/month.
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 YNAB is typically brought in for.
What can Wise Business do that YNAB cannot?
Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access. YNAB covers Zero-based budgeting, Bank sync, Goal tracking, Reports. Both handle Web support, Ios support, Android support.

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
YNAB: How much does YNAB cost per month?

YNAB costs $14.99 USD per month on a month-to-month basis, or $9.08 per month when paid annually as a $109 per year subscription. Both plans come with a 34-day free trial and no credit card required to start. Source: https://www.ynab.com/pricing

Source
Wise Business: Does Wise Business offer volume discounts?

Yes, volume discounts are available on monthly transfers over 20,000 GBP or equivalent.

Source
YNAB: Can I share YNAB access with my family?

Yes, both annual and monthly YNAB plans include the ability to share access with up to 6 people at no additional cost, making it suitable for family budget management. Source: https://www.ynab.com/pricing

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
YNAB: Does YNAB offer a free trial?

Yes, YNAB provides a 34-day free trial with no credit card required to sign up. This trial gives full access to all budgeting features including account syncing, transaction tracking, goal-setting, and debt management tools. Source: https://www.ynab.com/pricing

Source
YNAB: Do students get a discount on YNAB?

Yes, verified college students receive a full year of YNAB access for free through YNAB's College Program. This allows eligible students to use all features at no cost for 12 months. Source: https://www.ynab.com/pricing

Source
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