Paid in Euros - Business Account + Wise?

[jamesbrown]

I think this is the same end result, isn't it? I've never converted within Wise. But the conversation still happens on the Wise end as part of the transfer back to a GBP account

I.e., on the website you Transfer from your foreign account to your native GBP account, it tells you the conversion rate/cost and then you end up with whatever in your GBP account?

You mean the Wise UI provides some shortcut that aggregates the two transactions into one (conversion and sending)? Perhaps, but I haven't noticed it. However, my point here is that you definitely should not send the foreign currency to another bank, since that obviously means their fx rates, not those advertised by Wise. If you're sending GBP from Wise, no problem.

[SuperLooper]

You mean the Wise UI provides some shortcut that aggregates the two transactions into one (conversion and sending)?

Yes, precisely. Wise do the conversion as part of the transfer. The destination bank receives GBP.

[jamesbrown]

Yes, precisely. Wise do the conversion as part of the transfer. The destination bank receives GBP.

Good to know, thanks, I've only ever performed the two separately

[Andy Hallett]

I've just set up GBP,USD,EUR and AUD accounts in Wise. Very simple and will save me a decent wedge in FX compared to getting it paid direct to my UK business account. Integrates into FreeAgent nicely.