Comparison · Last checked 8 November 2026

Incard vs Wise Business: which suits a business that spends and trades abroad?

Incard is built for card spending: uncapped cashback on eligible spend, a £0 plan, team cards, GBP, EUR and USD IBANs and £5,000 a month of conversions at the interbank rate on Free. Wise Business is built for holding and moving many currencies, priced per conversion. Both are e-money accounts, so neither has FSCS cover.

By the editorial team. We may earn a commission if you open an Incard account through links on this page. We don't earn anything from Wise.

Incard suits you if

Most of your money goes out on cards, such as ads, software or travel
You want cashback on that spending
GBP, EUR and USD cover your needs and you convert less than about £5,000 a month
You're a UK or Swiss business

Wise Business suits you if

You get paid or pay suppliers in many currencies
You convert large amounts each month
You're a partnership, or registered outside the UK and Switzerland
You don't want a monthly plan fee

Apply for Incard on incard.co

Affiliate link: we may earn a commission if you open an Incard account through this link. It never affects our verdicts.

At a glance

**Table notes:** correct as of 8 November 2026. UK terms from each provider's own pages.
Feature	Incard	Wise Business
What it is	E-money institution (Incard Ltd, FCA FRN 1027309). Not a bank.	E-money institution (Wise Payments Ltd, FCA FRN 900507). Not a bank.
Protection	Safeguarded. Not covered by the FSCS.	Safeguarded. Not covered by the FSCS.
Who can open one	UK limited companies, LLPs and registered sole traders; Swiss GmbH, AG and sole traders	Sole traders, freelancers, companies and most partnerships, in many countries
Monthly fee	£0 (Free), £49 (Grow), from £199 (Plus)	None
Account details	GBP, EUR and USD IBANs included (3 on Free)	22 currencies, for a £50 fee
Currency exchange	£5,000 a month at the interbank rate on Free, then 0.6%	From 0.24%, varies by currency
Card payments in another currency	1.8% on Free, 1.5% on Grow and Plus	Free if you hold the currency; otherwise conversion fee
Card cashback	1% on advertising, software and travel, 0.5% on other eligible spend (Free)	None listed on the pricing page
ATM withdrawals	2% in the UK, 2.5% abroad	£250 a month free, then 2.69%
Receiving SWIFT payments	Not listed on the pricing page	£2.16 (GBP), €2.39 (EUR), $6.11 (USD wires)

Protection: the same model on both

Neither is a bank. Wise says it safeguards UK customer money by holding it as cash at banks, in secure liquid assets such as government bonds, or backed by a guarantee, and that its e-money and payment services aren't covered by the FSCS. Incard keeps safeguarded funds in segregated accounts at authorised credit institutions and also says they aren't FSCS-protected. If you need FSCS cover, neither is the answer for your main balance; see our e-money vs bank account guide.

Currency exchange costs

The pricing models are different. Incard gives each plan a monthly allowance at the interbank rate and charges 0.6% above it (1% outside market hours). Wise charges a fee on every conversion, from 0.24%, and the fee depends on the currency. Some sense-checks for converting GBP to a major currency each month (simple arithmetic, using Wise's lowest published rate):

**Table notes:** arithmetic as of 8 November 2026, not a quote. Wise's fee varies by currency and is shown before you convert; Wise also offers volume discounts on monthly transfers over £20,000.
Converted each month	Incard Free	Incard Grow (incl. £49 fee)	Wise, from 0.24%
£3,000	£0	£49	from £7.20
£10,000	£30	£49	from £24
£30,000	£150	£139	from £72

Inside Incard's free allowance, Incard costs nothing. Above it, Wise is likely to be cheaper for large conversions. The Incard FX cost calculator shows which Incard plan suits your volume.

Currencies and getting paid

Wise offers account details to receive money in 22 currencies, for a £50 fee, and free receiving of domestic (non-SWIFT) payments in AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD and USD. Incard gives you GBP, EUR and USD IBANs and says you can send money in 30+ currencies. If your customers pay you in many currencies, Wise is the stronger tool.

Cashback and card spending

Wise's pricing page doesn't list cashback. Incard pays cashback on eligible card purchases on every plan: 1% on advertising, recurring software and travel and 0.5% on everything else on Free, more on Grow and Plus. Card spending in a currency you already hold is free with Wise, while Incard charges 1.5% to 1.8% on foreign-currency card payments. So for spending in GBP, Incard returns money; for spending abroad from a foreign-currency balance, Wise is cheaper.

Who can open each account

Wise works for sole traders and freelancers, limited and public companies and most partnerships. For new UK registrations it doesn't currently accept trusts or Scottish, English or Northern Ireland limited partnerships, and it prohibits activities including cryptocurrency, tobacco and adult content.

Incard accepts UK limited companies, LLPs and registered sole traders, and Swiss GmbH, AG and sole traders. EEA onboarding is paused until an expected restart in 2027, and many industries are restricted.

Our verdict

Incard is the better fit for UK and Swiss businesses whose main cost is card spending in pounds, with modest currency needs covered by GBP, EUR and USD. The two work well together: Wise for international receipts and large conversions, Incard for card spending.

Wise Business is the better fit for businesses that hold, receive and convert many currencies or large amounts, and for partnerships or businesses outside the UK and Switzerland.

Before you apply

Check Incard's eligibility rules first. If you've applied to Incard before, deal with Incard directly rather than through a new link.