Bunq vs Wise : Which one is better for your business?

Business banking services are essential for companies looking to streamline their financial operations and maximize efficiency. By comparing Bunq and Wise, we aim to identify which platform offers the best features, cost savings, and overall value for businesses. This comparison will help you make an informed decision on the most suitable banking solution for your needs.

A quick overview on Bunq and Wise

What is Bunq?

Bunq offers business banking services designed for quick and efficient financial management. Unique features include the ability to set up an account in just 5 minutes using a phone and ID, high-interest rates on savings with weekly payouts, and sustainability initiatives like planting trees with every card transaction. Additionally, Bunq provides extensive automation tools for bookkeeping and invoice processing, making it a versatile choice for modern businesses.

What is Wise?

Wise is a financial technology company that provides international money transfer services and multi-currency accounts. It offers a platform for sending, receiving, and managing money in multiple currencies with transparent fees. Unique features include a debit card for international transactions and business accounts for managing cross-border payments.

Features of Bunq and Wise

Bunq features

Bunq offers a range of unique features that cater to the needs of modern businesses:

• Quick Account Setup: Open a business bank account in just 5 minutes using a phone and ID.
• Multiple Bank Accounts: Create up to 25 bank accounts for different purposes in seconds, aiding in budgeting and financial management.
• Automation Tools: Features like bookkeeping integrations, AutoVAT, and quick invoice processing save time and streamline financial operations.
• High-Interest Rates: Earn 1.05% interest on EUR and 2.3% on USD and GBP, with payouts made weekly.
• Sustainability Initiatives: Plant trees with every card transaction and track the CO2 impact, appealing to environmentally conscious consumers.

Wise features

Wise offers a variety of features that cater to the needs of consumers looking for efficient and cost-effective financial services:

• Cost-Effective International Transfers: Save up to 5x on international money transfers compared to traditional banks, making it a budget-friendly option for global transactions.
• Multi-Currency Management: Manage and hold money in multiple currencies, allowing for seamless international business and personal transactions.
• Transparent Fees: Enjoy a clear and straightforward fee structure with no hidden charges, ensuring you know exactly what you're paying for.
• Wise Debit Card: Spend and withdraw cash in various currencies worldwide without incurring foreign transaction fees, providing convenience for frequent travelers.
• Guaranteed Exchange Rates: Benefit from guaranteed exchange rates for a specified period, offering predictability and stability in currency conversion.

Comparing Bunq, Wise and OneSafe's features

Why choose one over the other?

• Why Choose Bunq Over Wise: Bunq offers a quick account setup, allowing businesses to open an account in just 5 minutes using a phone and ID, which is faster than Wise's process. Additionally, Bunq provides high-interest rates on savings (1.05% on EUR and 2.3% on USD and GBP) with weekly payouts, whereas Wise does not offer comparable interest rates on balances.
• Why Choose Wise Over Bunq: Wise excels in cost-effective international transfers, saving users up to 5x compared to traditional banks, which is a significant advantage over Bunq's international transfer fees. Moreover, Wise's transparent fee structure ensures no hidden charges, providing clarity and predictability that Bunq's fee structure may not match.

Considering OneSafe vs Bunq and Wise

• Why Choose OneSafe Over Bunq and Wise: OneSafe offers instant crypto to fiat conversions and vice versa, a feature that neither Bunq nor Wise provides. This makes OneSafe uniquely suited for businesses involved in Web3 and cryptocurrency, ensuring seamless financial operations in both traditional and digital currencies.

What are the customers saying?

Bunq reviews

Users have mixed opinions about Bunq. While many appreciate its advanced features, ease of use, and savings options, others find the navigation confusing and are frustrated with slow response times and interest rates. Overall, Bunq has received a rating of 3.9 out of 5.

• "I love being with bunq because it's difficult for me to imagine that there are other banks with the same range of functionality." - Ludwig Baumann
• "I work with bunq because I find no decent alternatives to it. Bunq for me is the golden mean, because on the one hand there are advanced features like prediction of future balance based on your expenses due to AI." - Jens Martens

For more detailed reviews, visit bunq Reviews.

Wise reviews

Users have generally found Wise Business to be efficient for international money transfers, offering good conversion rates and ease of use. However, there are complaints about customer support and occasional high fees. Overall, Wise has received a rating of 3.9 out of 5 stars.

• "Wise business transfers from one currency to the other are instant, local payments on USD to USD are quick as well as payments local GBP to GBP." - Lazaros D.
• "You can set up and receive multiple currencies. I could use it as my card/debit card abroad. Easy for me to convert the USD funds I have to the currencies of the country I'm vacationing." - Cherilyn A.

For more detailed reviews, visit Wise Business Reviews 2024.

OneSafereviews

Users have praised OneSafe for its exceptional customer support and innovative solutions tailored for Web3 and cryptocurrency transactions. The overall rating for OneSafe is 4.8 out of 5, reflecting high satisfaction among its users.

Customers have found several features particularly useful:

• OneSafe's seamless 1:1 conversion from USD to USDC on Polygon simplifies payroll and expense management, making it an essential tool for businesses.
• The platform's ability to revolutionize payroll and banking processes for Web3 organizations has been highly appreciated.

• "OneSafe has the best customer support I've ever experienced from a bank." - Amit Chu, Investments @ Celo Foundation
• "OneSafe is a game-changer. They solve so many headaches for our company. Finally, a banking solution that gets it." - Marco, CEO of Ensuro

For more detailed reviews, visit OneSafe.

Bunq, Wise, or OneSafe: Which is the best platform for you?

In conclusion, while Bunq and Wise offer robust features and have their own unique advantages, OneSafe stands out with its innovative solutions tailored for Web3 and cryptocurrency transactions. Each platform has its strengths, making any of them a solid choice for your business needs. However, if you're looking for cutting-edge financial tools and exceptional customer support, we recommend giving OneSafe a try.