Wise

Wise (formerly TransferWise) is a multi-currency account and international transfer service built around the real mid-market exchange rate, which matters enormously for freelancers and agency owners getting paid by overseas clients, since it avoids the poor exchange rates and hidden markups traditional banks and PayPal apply to cross-border payments. There's no monthly account fee for Wise Business, though a one-time local account setup fee (around £50 in some regions, free in others depending on where your business is registered) and SWIFT inbound charges (from ~$6.11/transfer) can apply. Transfers themselves are priced from about 0.33% of the transfer amount depending on currency route and payment method, with automatic volume discounts once you send over $25,000 (or equivalent) in a period. For a freelancer invoicing international clients, or an agency paying overseas contractors, the practical benefit is holding, converting, and receiving 40+ currencies in one account with transparent, upfront fee quotes before you confirm a transfer — no surprise deductions after the fact. The standard comparison is Wise vs PayPal: PayPal is faster to set up and more universally accepted for casual payments, but its currency conversion markup is typically far worse than Wise's near mid-market rate, meaning Wise usually saves meaningfully more on larger or recurring international payments. Best for freelancers and agencies regularly invoicing or paying overseas clients and contractors.

• Multi-currency account holding 40+ currencies
• transfers at the real mid-market exchange rate
• local bank details in multiple countries to receive like a local
• transparent upfront fee quotes before sending
• debit card for spending in local currency abroad
• API and batch payments for agencies paying contractors