Wise vs Bank of America — Pricing, Fees & B2B Features Compared (2026)
Bank of America charges a $45 wire transfer fee plus an FX markup of 1–3% on international transfers. Wise charges 0.33–0.57% with no wire fees and converts at the real mid-market rate. On a $50,000 supplier payment, that difference can be $500–$1,500 per transaction. Bank of America offers the convenience of keeping everything in one banking relationship. Wise offers dramatically better pricing and faster settlement — typically 1–2 business days versus 3–5 for international wires.
Wise usually has lower FX margins; Bank of America offers US banking network.
Before we show you a single number, know this: we are regulated, audited, and transparent. Our pricing is published. Our client funds are segregated. These aren't marketing claims — they're regulatory requirements we meet daily.
These aren't marketing claims — they're regulatory requirements we meet daily.
Quick comparison
| Feature | Wise | Bank of America | Unicorn Currencies |
|---|---|---|---|
| Currencies | 40+ | Multiple | 35+ |
| FX / Fees | Mid-market rate + 0.33–0.57% fee | Check with bank for current FX pricing | Up to 70% cheaper vs traditional US banks |
| Monthly fee | $0 (one-time setup fee may apply) | Account fees apply | No monthly fee |
| Settlement | 1–2 business days | 2–5 business days | Same-Day |
| Local accounts | 9 currencies | Yes (US) | with a local US bank account |
| Regulation | FCA authorised, FinCEN registered | OCC, US banking | FINTRAC registered · Bank of Canada RPAA registered |
| Best for | Freelancers and SMEs wanting transparent mid-market rates | US businesses with BofA relationship | B2B import/export, £1M++ annually |
Verdict
Wise usually has lower FX margins; Bank of America offers US banking network.
Frequently asked questions
Can I get better FX than my bank with a B2B specialist?
Yes. Specialist B2B FX providers like Unicorn Currencies offer institutional-grade rates — typically up to 70% cheaper than high-street banks — while providing the compliance, security, and dedicated support that banks offer. Unlike consumer platforms, Unicorn Currencies is purpose-built for treasury teams managing cross-border supplier payments.
Which platform is best for businesses processing £1M+ in annual FX?
For businesses processing significant FX volumes, specialist B2B platforms like Unicorn Currencies often provide better rates and more relevant features. Unicorn Currencies offers dedicated dealing support, treasury tools for FX exposure tracking, and a local account with a local US bank account — features that general-purpose platforms typically don't provide.
Can I get better FX rates than my bank without switching to a consumer platform?
Yes. Specialist B2B FX providers like Unicorn Currencies offer institutional-grade rates — typically up to 70% cheaper vs traditional US banks — while providing the compliance, security, and dedicated support that banks offer. Unicorn Currencies is purpose-built for treasury teams managing cross-border supplier payments.
Looking for a B2B alternative to both?
Unicorn Currencies is purpose-built for importers and exporters. Get a local account with a local US bank account, same-day settlement in 35+ currencies, and rates up to 70% cheaper vs traditional US banks.
FINTRAC registered · Bank of Canada RPAA registered.