Payset vs Wise Business: which is cheaper for a company?
Payset charges a subscription and an application fee. Wise charges almost nothing until you convert. For most small companies that settles it, but not for all of them.
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Take a UK agency billing US clients 20,000 USD a month. It converts 15,000 USD to pounds and makes ten payouts to freelancers in Europe.
On Payset Business, the dollars arrive by wire: €10 each on the SWIFT receiving fee. Converting 15,000 USD at a 1% margin costs about 150 USD. Ten SEPA payouts of €1,000 at 0.40% cost €40. With the €100 subscription, the month comes to roughly €330, before the application fee you paid to open.
On Wise Business, the US client can pay the agency's USD details by ACH for free, or by wire for 6.11 USD. Converting 15,000 USD from 0.24% costs about 36 USD, and each EUR payout adds Wise's sending fee, which varies by currency. There is no subscription, so the month costs a fraction of Payset's.
Figures are from each provider's pricing page, read in November 2026. Your own prices can differ by country and volume.
Side by side
| Payset Business | Wise Business (UK) | |
|---|---|---|
| To open | €480 (EU/UK) or €960 (others), plus 3 months upfront | £50 for account details |
| Monthly | €100 (Scale €300) | £0 |
| FX | from 1% (Scale from 0.50%) | from 0.24% |
| Receive local | €2 | Free in 9 currencies |
| Receive SWIFT | €10 | 6.11 USD for USD wires |
| Send SEPA | 0.40%, max €80 | From 0.24% |
| Currencies | 35 | 22 with account details |
| Users | 2 (Scale 10) | Team access included |
Where Payset wins
Payset caps its percentage fees. A single €100,000 SEPA payment costs €80 on Business, and €40 on Scale. It also offers an account manager and tiered FX that falls to 0.25% for very high volume. For a holding company moving large, infrequent amounts, that can be worth the subscription.
Where Wise wins
Almost everywhere else: no subscription, no application fee beyond the £50 for details, and a lower published conversion fee. Our Wise Business alternatives comparison covers when companies outgrow it, mainly for stablecoins, card controls and approvals.
A third option
Rivet sits between the two on cost and adds what both lack for a UK company: USDC and USDT in the same account. On Growth ($200 a month) the agency gets USD, EUR and GBP details in its own name, no fee to receive a bank transfer, FX from 0.50% (about 75 USD on 15,000) and $1 per payout. That is about $285 for the month, with physical cards and approvals for up to 10 team members.
For the full maths on conversion costs, see the true cost of international payments. Rivet is not a bank; regulated partner institutions hold client funds. Plans are on pricing.
Questions people ask
Is Payset cheaper than Wise?
For most small and mid-sized companies, no. Wise has no monthly fee and converts from 0.24%, while Payset starts at €100 a month plus an application fee and an FX margin from 1%. Payset can come out ahead on very large single SEPA or SWIFT payments, where its fee caps apply.
Does Wise charge to receive payments?
Domestic payments in AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD and USD are free to receive. USD wires and SWIFT payments cost a fixed fee, 6.11 USD for a USD wire on the UK price list.
Which has more currencies?
Payset says it handles 35 currencies. Wise gives account details in 22 currencies and sends to many more.
Sources
Alexia compares the accounts, cards and payment tools companies weigh before they switch, and writes Rivet's market guides for founders in a specific country. Prices in Alexia's comparisons come from each provider's own pricing page on the date given in the article, rules come from the regulator or tax authority that sets them, and every source is listed at the end.
More from Alexia M. →This article is general information, not legal, tax or financial advice. Rules and fees change; check the sources above and the provider’s current terms before you act on them.
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