Source: https://rivet.global/blog/payset-vs-wise-business
Published: 2026-08-23 · Updated: 2026-11-05 · By Alexia M.

# Payset vs Wise Business: which is cheaper for a company?

Payset vs Wise Business on setup, monthly fees, FX and transfer costs, with a worked example and the cases where each one wins.

## Key takeaways

- Payset's Business plan costs €100 a month, with a €480 or €960 application fee and three months paid upfront. Wise Business has no subscription and charges £50 once for account details in the UK.
- Wise converts from 0.24%. Payset's FX margin starts at 1% on Business and 0.50% on Scale.
- Payset caps its percentage transfer fees (max €80 by SEPA, €290 by SWIFT on Business), which helps on very large single payments.
- Neither offers stablecoin accounts to UK companies. Rivet adds USDC and USDT to USD, EUR and GBP details in your company's name.

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](/blog/best-wise-business-alternatives) 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](/blog/true-cost-of-international-payments). Rivet is not a bank; regulated partner institutions hold client funds. Plans are on [pricing](/pricing).

## Questions

### 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.