How to Receive Money From Overseas Using Wise?

Last Updated on April, 2024

No matter where you are, if you’re considering how to receive money from overseas using Wise through multi-currency accounts, this guide is designed to assist you.

Whether you’re curious about the process or actively seeking a reliable method, I’ll discuss everything below. With user-friendly features and a commitment to fair practices, Wise simplifies the experience of receiving international payments.

Check out this guide on receiving money from overseas with your Wise account.

How to Receive Money From Overseas Using Wise?

Open a Wise Account: Sign up online, providing your personal details and necessary verification documents.

Set Up Account for International Payments: Log in, navigate to ‘Balances’, add a new balance for the currency you wish to receive, and get your Wise account details for that currency.

Share Your Wise Account Details with the Sender: Provide the sender with your full name as registered on Wise and the specific account details for the currency you’re receiving.

How to Receive Money From Overseas Using Wise? A Step-By-Step Guide

First, ensure that you have a Wise account set up, or simply start from opening an account by following the steps.

Step 1: Open a Wise Account

To get started, sign up for a Wise account online. You’ll need to provide basic details like your name, address, contact information, and email.

Make sure to have proof of ID (like a passport or driver’s license) and proof of address (official correspondence from a reputable organization) ready for verification. Additionally, business multi-currency accounts may require additional verification.

Step 2: Set Up Your Wise Account to Receive International Payments

log in option in wise website
balances section in wise
adding new balance in wise
choosing currency to add a new balance in wise
options of wise sending money internationally or locally
bank details for sharing option

Once your Wise account is set up, follow these steps to receive money:

  • Log In: Access your Wise account online.
  • Navigate to Balances: Find the ‘Balances’ section in your Wise account, specifically the ‘Borderless’ feature.
  • Add a Balance: Click on the ‘+’ symbol and choose to open a new balance.
  • Select Currency: Pick the currency in which you want to receive money
  • Specify Transfer Type: Indicate whether you expect a local or international transfer.
  • Get Wise Account Details: Click on the chosen currency and your Wise/borderless account details. Share these details with the person sending money.

Wise provides local bank details for various currencies, allowing fee-free transactions from over 30 countries. It’s a user-friendly platform that ensures a smooth and secure process when you receive money from overseas.

By following these simple steps, you can set up your Wise multi-currency account/ borderless account to receive money effortlessly.

Wait! Is Wise really safe? Read this guide.

How to Open a Wise Personal Account to Receive Money?

  • Log In: Open the Wise app or use the desktop site to log into your Wise account.
  • Open a Balance: Inside your Wise account, find the option to ‘open a balance.’
  • Select Currency: Choose the currency in which you want to receive money (options include USD, EUR, GBP, and more).
  • Get Wise Account Details: Tap ‘Get account details’ and copy the provided details for the chosen currency.
  • Share Wise Account Details: Send these Wise account details to the person planning to send money. They can use this information to send money directly to your Wise account.

Through this, you can easily set up your borderless account to receive money in multiple currencies.

How Do I Get Verified?

Ensuring security and compliance with global regulations requires a verification step when opening a Wise account or setting up international payments.

The convenient aspect is that this Wise account verification process can be entirely done online or through the Wise app, eliminating the need to visit a physical branch.

Here’s a guide:

  • Document Upload: Take clear photos of proof of identity, like a passport or driver’s license.
  • Address Confirmation: Provide images of documents displaying your address, such as a recent utility bill or local bank details under your name.
  • SSN or ITIN Submission: If applicable, input your SSN or ITIN during the verification process.

So, by submitting the necessary documents, Wise will verify your account securely, maintaining compliance and safeguarding your financial transactions. This measure is vital in preventing fraud and ensuring the protection of your funds.

What Information is Required to the Sender?

Enable global transactions and add foreign currency accounts.

Here’s how:

  • Your Full Name: Provide your complete name registered on your Wise multi-currency account.
  • Wise Account Details: Share your Wise account number and relevant details for the specific currency you expect.
  • Additional Information: Depending on the recurring payment, the sender might need extra details, like the purpose or reason for the transaction.

Do you know? The sender can make international payments directly to your Wise account by providing these details. Great, right?

How to Create a Wise Business Account to Receive Money?

a screenshot of the wise business account option

Setting up a Wise business account is simple and offers benefits like batch payments and cloud accounting integrations.

With these business multi-currency accounts, you can get local bank account details for as many as 9 currencies, making it easy to receive money from overseas over 30+ countries through local transfer(s).

Follow these steps to get started:

  • Log In: Use the Wise app or desktop site to log into your business account.
  • Open a Balance: Navigate to your Wise account’s ‘open a balance’ option. 
  • Select Currency: Select the currency you wish to receive money from the available options in your business multi-currency accounts.
  • Get Wise Account Details: Tap on ‘Get account details’ to access the account information for the selected currency within your multi-currency accounts.
  • Share Details: Send these account details to the person planning to send money. They can use this information to deposit funds directly into your Wise business account.

Note: You can easily set up your Wise business account to receive money from overseas with added features like batch payments and integration with cloud accounting systems.

How Does My Business Get Verified?

To verify your Wise business account, you’ll need:

  • Your Information: Provide your proof of ID and address.
  • Business Documentation: submit relevant business documents, which may vary depending on the type of business entity.
  • Business Multi-Currency Accounts: As part of the verification process, Wise may also request information related to your business multi-currency accounts to enhance the flexibility of your financial operations.
  • Details of Directors and Shareholders: Include names, dates of birth, and countries of residence for any directors and shareholders owning 25% or more of the business.

This thorough verification process ensures the security and legitimacy of your Wise business account, allowing you to access its full range of features and benefits, including the versatility offered by business multi-currency accounts.

What Currencies Can You Receive With Wise for Free?

countries and currencies that wise is supported

You can use your Wise account to receive money in various currencies without fees.

Here’s the list:

  • US Dollars (USD)
  • British Pounds (GBP)
  • Euros (EUR)
  • Singapore Dollars (SGD)
  • Australian Dollars (AUD)
  • New ZealZealand Dollars (NZD)
  • Romanian Lei (RON)
  • Hungarian Forint (HUF)
  • Polish Zloty (PLN)

To receive money in these currencies, share your Wise account details with the sender. They can use their preferred methods for money transfers without worrying about currency conversion fees.

Mid-Market Exchange Rate: Wise employs mid-market exchange rates, which are the fairest rates available. This ensures you get the most value when receiving money in different currencies without hidden fees or unfavorable exchange rates.

Note: there’s a 4.14 USD fee when you receive money in USD via Wire transfer to your Wise account. I suggest the sender to use ACH (Automated Clearing House) for USD money transfers, as it’s free.

How Much Does it Cost to Receive Money to Your Wise Account?

Generally, It’s free when you receive international payments to your Wise account.

Here’s what you need to know:

  • Supported Currencies: You can provide your Wise account details for nine supported currencies. Receiving money from overseas in 8 of these currencies is entirely free.
  • USD Wire Fee: There’s a 4.14 USD fee if someone sends you a payment in US dollars via bank transfer. However, receiving money in USD through ACH is free when using the benefits of the Wise Borderless Account.
  • Self-Top-Up Fees: If you’re topping up your Wise account through a debit card or bank transfer, some currencies and payment methods may have small top-up fees, especially for faster processing. You can check all the options and transparent fees on the Wise app or desktop site to ensure you understand your Wise Borderless Account features comprehensively.

In short, you won’t Include any fees when you receive money in 8 supported currencies using the local account details provided by your Wise account. Always check the details for USD money transfers to choose the most cost-effective option.

How Can I Deposit Money Into My Wise Account?

Adding money to your Wise multi-currency account is easy.

Follow these steps:

  • Open Wise App or Website: Start by opening the Wise app on your phone or visit the website on your computer.
  • Choose Currency: Select the currency you want to add to your Wise account from the options available.
  • Enter Amount: Type in the amount you want to top up.
  • Payment Method: Choose your preferred payment method, either through a bank transfer or by using your debit card.
  • Check and Confirm: Review your details, confirm the transaction, and proceed with the payment.

It’s simple! Now, You can deposit money into your Wise account and use it for international money transfers or spend globally with your Wise debit card.

Keep in mind that fees may vary depending on the chosen payment options and mid-market exchange rates. Being aware of these details will help you make informed decisions when depositing funds into Wise multi-currency accounts.

Pros and Cons of Using Wise to Receive and Send Money


Free Payments: Wise offers free ways to receive money in 9 different currencies.
Quick Deposits: Wise deposits can arrive very quickly.
Instant Notifications: Receive instant notifications through the Wise app once money arrives into your Wise account.
Favorable mid market exchange Rate: If you ever need to switch currencies, Wise provides the mid-market exchange rate with low and transparent fees.


USD Wire Fee: There’s a 4.14 USD fee when you receive USD Wire payments.
Top-Up Fee: Depending on the currency and payment method, you may pay a small fee for self-topping up your Wise account.

In short, we can understand that handling money with Wise is convenient for managing international transactions as it’s safe and cost-effective.

How Can You Receive Money From Overseas Into Your Bank Account?

It’s easy when you receive money from overseas with Wise and don’t need a Wise multi-currency account for it. However, if you prefer added flexibility, you can still benefit from Wise’s service by obtaining local bank details for specific currencies.

Here’s what you can do:

  • Provide Bank Details: Share your regular bank account details or the obtained local bank details for specific currencies with the person who will send money.
  • Increase Security with Bank Details: Ensuring the secure sharing of your bank details adds more protection to your financial transactions.
  • Wait for Arrival: Once you’ve shared your account details, wait for the money to arrive in your bank account. Over 50% of Wise transfers are instant, with the vast majority coming within 24 hours.

What do you think about this process? Easy. Yes, I, too, felt that. Just share your local bank details, and you’re all set to directly receive money internationally into your normal bank account. With the convenience of local bank details, you can optimize the process and ensure efficient international transactions.

What Information Should I Provide to the Sender?

To receive money through Wise, share these details with the sender:

  • Your Full Name: Provide your name as it appears on your bank account.
  • Bank Account Number: Share your bank account number.
  • Routing Number: Provide your routing number.
  • Additional Information: Depending on the payment, you might need to share your address or specify a reason for the transaction.

Note: Stress the importance of accurate bank details for a smooth transaction. Wise ensures transparent currency conversions with mid-market exchange rates.

Give these details to the sender, and you’re all set to receive international payments through Wise.

Pros and Cons of Receiving International Payments Into Your Bank Account


Favorable mid market Exchange Rate: Wise uses the mid market exchange rate, potentially saving the sender money and increasing the amount you receive.
Quick Deposits: Wise ensures swift or even instant deposit processing.
Global Reach: Wise allows payments to be sent to 160+ countries in 40+ currencies.


Receiving Fee: Your own bank may charge a fee when you receive money.
Wise Sender Fee: The sender will pay a Wise fee, which varies based on the payment option and value of money transfer

Additional Information for Using Wise to Receive International Payments

wise logo

Find your Wise IBAN and routing number, explore live currency exchange rates, and get key insights for smooth international payments.

Wise IBAN:

  • European banks use an IBAN, but it’s optional for money transfers to US bank accounts via Wise account.
  • If you receive money from Europe using Wise, you might need an IBAN, and Wise will provide this.

Wise Routing Number:

  • Depending on the currency you’re receiving, the sender might ask for a National Clearing Code, Routing Number, BSB Number, or Sort Code.
  • You can quickly get the Wise account details for the currency you receive from the app to provide the required information.

Currency Exchange Rates For Wise:

  • Wise provides currency exchange rates through their currency converter.
  • Rates for international transfers can vary, and the rate your sender gets is shown when you make the transfer.

Understanding these additional details ensures a smooth process when you receive international payments through multi-currency accounts, especially when dealing with specific account numbers or currency exchange rates. 

As part of this process, Wise maintains its commitment to transparent fees and fair mid-market exchange rates, ensuring you get the best value for your funds in your Wise account.

Read all about how Wise functions.


Did you understand that receiving international payments using Wise is simple and secure? You can effortlessly receive international payments by following the steps and creating a Wise account.

Wise’s user-friendly platform ensures a smooth process, making it a reliable choice for effortless transactions. Adopt the convenience of Wise to keep your money safe and receive it from overseas with ease!


The timing to receive money with wise depends on currency, transfer amount, and payment option chosen by the sender. Typically, it’s speedy. 50% of transfers arrive instantly or within a few seconds, and 90% are processed within 24 hours. Overall, it’s a quick and efficient method to receive your money.

No, a Wise account is not necessary to receive money from overseas. You can send your international payment to your regular bank account in your desired currency. However, opening a Wise multi-currency account provides added benefits such as receiving payments in up to 9 currencies and enjoying local transaction advantages.

The fee for receiving international payments in your bank account may vary depending on your bank’s terms and conditions. It’s important to confirm any associated costs with your local bank before receiving international payments.

When you receive money from overseas with Wise, they utilize the mid-market exchange rate, which guarantees fairness and transparency. This rate serves as a standard, and a small, visible fee is added by Wise to cover their services. This approach allows Wise to offer an affordable and trustworthy option for receiving money from overseas.

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Allen Morning
I'm Allen Morning, with a background spanning over 15 years in international finance and education from Harvard and Stanford. I founded Currenciap with a vision to demystify and streamline global financial transactions. My journey in finance has fueled my commitment to creating a platform that is both user-friendly and efficient, making international finance accessible to everyone. You can find more about me here.

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