Wise
The international account for your Estonian company
Wise Business
Multi-currency business account with no ...
Free
Wise (formerly TransferWise, founded by Estonian developers) is the go-to banking solution for e-Residents — about 80% use it as their primary business account. Multi-currency accounts in 50+ currencies, transfers at the mid-market rate with 0.4-0.6% fees, and seamless auto-sync with Xolo and Companio. Belgian IBAN (BE prefix) works across the entire SEPA zone.
Wise has been my primary business account since 2018, after switching from a traditional LHV bank account. I hold EUR, USD, and GBP balances. My US clients pay into a local US routing number, UK clients into a UK sort code — all landing in Wise in the original currency. I convert to EUR when the rate is good. Typical saving vs my old bank: 1-2% per transaction. At €5,000/month in foreign currency, that's €50-100/month saved. The Xolo integration is the killer feature — every transaction syncs automatically, no manual bookkeeping.
— Sebastian Kühn, e-Resident since 2015
Pros & Cons
Pros
- No monthly fees — effectively €0/month for EUR operations
- 50+ currency accounts with local receiving details (USD, GBP, AUD)
- Mid-market rate transfers — saves 1-2% vs traditional banks
- Seamless auto-sync with Xolo (transactions categorized automatically)
- Visa debit card (physical €7, contactless, Apple/Google Pay)
Cons
- One-off ~€50 setup fee for full business account details
- Not a full bank — e-money license, no deposit insurance (funds held in segregated accounts)
- No credit or lending facilities
- Occasional compliance review delays (rare, but can freeze account for days)
- Belgian IBAN (BE) — very rarely an issue, but some clients expect Estonian IBAN