Instarem vs Wise Business: Which is better for your business?
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Choosing the right business account can significantly impact how you manage your finances. We’re comparing Instarem business and Wise Business, focusing on their features, pricing, business card options, and more, to help you decide which one works best for you..
| Instarem | Wise Business | |
|---|---|---|
| Features | Hold and exchange multiple currencies, send real-time payments, secure transactions, process up to 1,000 payments, and fund transactions seamlessly with Visa or Mastercard® credit cards. | Multi-currency accounts, international payments, accounting integrations, batch payments |
| Pricing | No monthly fees and no fees for cross currency payments | One-time setup fee, no monthly fees, transparent transaction fees |
| Business Cards | Virtual prepaid Mastercard® with FX savings and customised spending controls | Physical and virtual cards, team management features, ATM withdrawals |
Instarem vs Wise Business: Key Features
| Instarem | Wise Business | |
|---|---|---|
| Supported Currencies | Pay in 40+ currencies | Hold and send in 40+ currencies |
| International Payments | Pay up to 160+ countries | Send to 70+ countries |
| Accounting Software Integration | Not available | Integrates with QuickBooks, Xero, and more |
| Business Debit Cards | Virual prepaid card with FX savings | Physical and virtual cards available |
| App | Mobile-web compatibility | Mobile app available |
Both options offer robust features. Instarem stands out with its real-time payments and the ability to fund transactions with a credit card, while Wise excels in accounting software integrations and comprehensive card options. Ultimately, the best choice depends on your business’s specific needs.
Instarem vs Wise Business: Pricing
| Instarem | Wise Business | |
|---|---|---|
| Account Opening Fee | No fees | One-time fee of $31 |
| Monthly Subscription | No fees | No fees |
| Currency Exchange Fees | Mid-market rate; no fees | Fees starting from 0.43% |
| Money Transfer Fees | $0 fees for cross-currency payments | Variable fees starting from 0.43% |
| FX Fees | Mid-market rate; no fees | Uses mid-market exchange rates |
Instarem offers a competitive structure with no account opening or monthly fees, and competitive exchange rates. Wise charges a one-time setup fee of $31 but also has no monthly fees and offers transparent transaction fees starting from 0.43%. Consider your transaction volume and funding methods to determine which pricing structure is more cost-effective.
Instarem vs Wise Business: Business Cards
| Instarem | Wise Business | |
|---|---|---|
| Physical Card | Soon | Available |
| Virtual Card | Available for Google pay and Apple pay | Available |
| Custom Card | Not available | Not available |
| ATM Withdrawal | Soon | Free up to $100/month; thereafter $1.50 + 2% per withdrawal |
Both Instarem and Wise offer business card functionalities, including virtual cards. However, Instarem’s physical cards are coming soon, while Wise provides both physical and virtual cards with team management features and a clear ATM withdrawal policy.
See how Instarem compares
| Instarem | |
|---|---|
| Features | Hold and exchange multiple currencies, send real-time payments, secure transactions, process up to 1,000 payments, and fund transactions seamlessly with Visa or Mastercard® credit cards. |
| Pricing | No monthly fees and no fees for cross currency payments |
| Business cards | Virtual prepaid Mastercard® with FX savings and customised spending controls |
Getting started with Instarem is easy
- Click here to get a free Instarem business account
- Enter your company details
- Once approved, add beneficiary details, saved for future transfers
- Select a payment method and we’ll show you rates and fees upfront
Register with Instarem business today
Take control of your business finances with Instarem. Enjoy competitive exchange rates, streamlined payments, and fast & secure transactions.
