Wise and wamo both offer business accounts that make cross border payments easier, faster and cheaper. They are both an excellent alternative to both traditional and challenger business accounts for many reasons but perhaps the biggest reason is that it makes it possible for anyone with a business to get a business account in minutes.
It can take weeks if not months to get a business account done and dusted with many traditional financial institutions and this can be a huge obstacle for entrepreneurs and business owners of all stripes.
We’re going to compare the most popular of the plans - ‘wamo Grow’ - with Wise’s business plan..
Furthermore you can receive a cashback rate of 0,5% and 20% discount by subscribing to an annual plan. It’s a great opportunity for you to gain extra benefits while doing your usual transactions. For even greater benefits, explore our Scale Annual plan, featuring 1% cashback, limitless digital and physical cards, complimentary local transfers up to 250 and numerous extra perks. Similar to Grow Annual, Scale annual plan offers a 20% discount - now available at €959.50 annually .
Let’s see which of the two comes out on top.
Wise vs wamo: overview
Some points to note:
While it’s natural human instinct to see a subscription fee compared to a one-off sign up fee, and assume the latter is better, if you look a bit deeper, you’ll notice how Wise fees will add up to at least the wamo subscription price every month. Additionally, considering the cumulative impact, preferring wamo’s subscription model proves to be a more cost-effective choice in long run, despite the initial tendency towards a one-off sign up fee.
For example:
Replacement cards if you or your team lose them? €4 every time.
With wamo this is free - covered by subscription so there are no surprises.
However if your business is smaller - in other words depending on the size of your business, Wise could be a better choice for you.
Laine Redpath
It’s not all about the money (well, not quite)
Wise is a well-known and trusted international business account provider and a great choice especially for those businesses that value a huge number of currency options.
Wise’s focus is on making life easy especially for digital nomads and international businesses where a card terminal isn’t generally wanted or necessary. wamo customers expressed a need for the option of a card terminal and so, well, it’s available to those who need it!
Wise and wamo both provide great ‘always-on’ customer service and both strive to make customers feel valued. wamo has the added benefit of dedicated account reps for your business so that you can always speak to the person who knows you and your business. You’ll get a response time in under 3 minutes via chat. Our warm and efficient customer service is what we’re most proud of.
Take a look at the Wise pricing plan here. And the wamo pricing plans here.
When it comes to choosing the best business account for you, there are many things to consider of course, but we hope this guide has helped answer some questions especially if you are trying to choose between wamo and Wise.
