The short version is that Stripe and Wise aren’t rivals. Stripe takes the card payment. Wise holds and converts money. The real choice is where your foreign currency gets converted, and that choice can be worth a few hundred pounds or dollars a year even for a small shop.
Quick answer: Stripe adds a conversion fee of 1% on US accounts and 2% on UK and EEA accounts when it converts a payment. Wise converts at the mid-market rate plus a fee that starts from 0.24% and varies by currency. If you sell in other currencies, you can keep that currency in Stripe, pay it out to Wise account details, and convert in Wise instead.
Table of Contents
Stripe vs Wise: Which Is Better?
Neither is better overall, because they do different jobs. Stripe is a payment processor that lets customers pay you by card, wallet or bank. Wise is a multi-currency account that receives, holds, converts and sends money. Most online sellers who ask “Stripe or Wise?” end up using both: Stripe to get paid and Wise to convert the money cheaply.
| What you need | Stripe | Wise |
|---|---|---|
| Take card payments on your website | Yes, its main job | No checkout for online stores |
| Convert currency | Automatically, with a 1% or 2% fee | On demand, mid-market rate plus a fee from 0.24% |
| Hold several currencies | Only with multi-currency settlement in supported countries | Yes, in 40+ currencies |
| Receive local bank details in other countries | No | Yes, for USD, EUR, GBP, AUD and more |
| Pay suppliers and staff abroad | Not for everyday transfers | Yes, its main job |
Stripe vs Wise Fees Side by Side
Here is what each one charges for the jobs most sellers compare. Stripe’s fees are for a US account and Wise’s are for Wise Business in the UK, so check your own country’s pricing pages.
| Fee | Stripe (US account) | Wise Business (UK) |
|---|---|---|
| Account setup | Free | £50 one-off |
| Receive a payment | 2.9% + 30¢ per card payment | Free by domestic transfer |
| International card surcharge | +1.5% | Not applicable |
| Currency conversion | +1% (2% on UK and EEA accounts) | From 0.24%, varies by currency |
| Receive a USD wire | 0.5% capped at $5, plus $15 with Bank transfers | $6.11 per payment |
| Payout to your bank | Free standard payouts | Not needed, the balance is already yours |
What Is the Stripe FX Fee?
The Stripe FX fee is a percentage added when Stripe converts a payment into your account’s currency. On a US account it’s 1%. On a UK account it’s 2%, and EEA accounts also pay 2%. This fee comes on top of the card fee, including the international card surcharge, so a foreign sale can cost noticeably more than a domestic one.
| Stripe account | Domestic card fee | International card fee | Currency conversion fee |
|---|---|---|---|
| US | 2.9% + 30¢ | +1.5% | +1% |
| UK | 1.5% + 20p | 3.15% + 20p (2.5% + 20p for EEA cards) | +2% |
Stripe doesn’t publish a public “exchange rate today” page. To see the rate it used, open any converted payment in your Dashboard and check the balance details, which show the exchange rate and the amount in your currency. Our guide to Stripe multicurrency pricing explains the conversion fee, FX spread and Adaptive Pricing in more depth.
Adaptive Pricing and Instant Conversion
Two other Stripe features change who pays for conversion. With Adaptive Pricing, customers see prices in their own currency and pay a conversion fee starting at 2%, so the cost moves to the buyer. With instant currency conversion, available on some accounts, Stripe converts balances you already hold from 0.5%.
How Wise Converts Currency
Wise converts at the mid-market rate, the one you see on Google, and charges a separate fee that it shows before you confirm. For Wise Business, that fee starts from 0.24% and changes by currency pair. Receiving domestic payments to your Wise account details is free, which matters because Stripe payouts arrive as domestic transfers.
| Wise Business cost (UK) | Amount |
|---|---|
| Account setup, including account details in 22 currencies | £50 one-off |
| Currency conversion | From 0.24%, varies by currency |
| Receive GBP, EUR or USD by domestic transfer | Free |
| Receive USD by wire or SWIFT | $6.11 per payment |
| Receive GBP by SWIFT | £2.16 per payment |
| Receive EUR by SWIFT | €2.39 per payment |
Stripe vs Wise for FX Rates: Should You Convert in Stripe or Wise?
Converting in Wise usually costs less than letting Stripe convert, as long as the money reaches Wise in its original currency. To do that, your Stripe account must keep the foreign currency through multi-currency settlement, then pay it out to Wise account details in that currency. Stripe charges a settlement fee on some extra currencies, so check yours first.
Here is how the numbers work for Chloe’s UK account on $10,000 of US sales. The card fees are the same in both routes, so only the conversion changes.
| Route | Who converts | Conversion cost on $10,000 |
|---|---|---|
| Stripe converts USD to GBP | Stripe, at 2% | $200 |
| Keep USD in Stripe, pay out to Wise, convert there | Wise, at an assumed 0.5% | $50, plus any Stripe settlement fee for USD |
The simple test: if Stripe’s settlement fee for that currency plus Wise’s conversion fee is lower than Stripe’s 1% or 2% conversion fee, convert in Wise. Holding dollars in Wise also lets you pay US suppliers or tools in dollars without converting at all.
How to Set Up a Stripe Payout to Wise
You connect Stripe with Wise by adding your Wise account details as a payout bank account in Stripe. Wise’s own guide to receiving money from Stripe lists these steps.
- In Wise, open Home, choose the currency and copy its account details.
- Log in to your Stripe Dashboard and open Settings.
- Select Bank accounts and scheduling, then Add a bank account.
- Enter the Wise details exactly, in the same currency as the Stripe balance you want paid out.
- For a second currency, turn on that settlement currency in Stripe first, then add the matching Wise details.
Double-check every digit. Wise says typos in linked details are a common reason Stripe blocks a payout account.
Which Currencies Work From Stripe to Wise
Wise lists USD, AUD, CAD, CHF, SGD, NZD, HKD, SEK, NOK, DKK, PLN, HUF, RON and ZAR as working with Stripe payouts, and other currencies can go to your EUR account details. AED, CNY, CZK and ILS won’t work, even if Stripe accepts the details. The account details must be in the country where that currency is official, such as USD details for US dollars.
Stripe to Wise Fees
Stripe doesn’t charge for a standard payout to Wise, and Wise doesn’t charge to receive a domestic transfer. The costs are Stripe’s settlement fee for any extra currency, Wise’s conversion fee when you convert, and Wise’s one-off setup fee for a business account. If refunds push your Stripe balance negative, Stripe can debit your Wise account, except for NZD.
Who Can’t Use Wise With Stripe
Wise doesn’t open accounts for residents of some countries, including Pakistan, and won’t issue USD account details to businesses in places such as Pakistan, Bangladesh and Nigeria. Sellers there usually rely on a US company and a US bank. See how Stripe in Pakistan works, or compare Wise vs Payoneer for receiving client payments.
When Letting Stripe Convert Is the Better Choice
- Small foreign volume. If foreign sales are a few hundred dollars a month, the savings won’t cover the time and the Wise setup fee.
- Your country doesn’t offer multi-currency settlement. Without it, Stripe converts everything to your default currency before any payout.
- You refund often. Refunds come out of the currency balance. A busy refund queue is simpler with one currency.
- Your accountant wants one bank feed. A second account means a second statement to reconcile every month.
Lower Stripe FX Costs Without Leaving Stripe
You can also cut conversion costs inside Stripe. Set fixed prices in your customers’ currencies so they pay in their own money and you choose when to convert. If processing fees are part of the decision, see how Stripe and PayPal fees compare. Add a bank account in each currency you sell in if your country supports multi-currency settlement. For US-dollar invoices, our post on the Stripe USD bank transfer explains how to get paid and paid out in dollars.
FAQs
These are the questions sellers ask most when comparing Stripe and Wise.
Wise vs Stripe: which is better?
They do different jobs. Stripe is better for taking card payments on your website. Wise is better for holding, converting and sending money abroad. Many sellers use Stripe to get paid and Wise to convert foreign currency for less.
Stripe vs Wise: which is better for international client payments?
For invoices to clients abroad, Wise is usually cheaper. Give the client local account details in their currency, and they pay by domestic transfer, which Wise receives free. Use Stripe when clients want to pay by card, or when you need checkout, subscriptions or automatic billing.
Stripe or Wise: which is cheaper?
For receiving bank transfers and converting currency, Wise is cheaper. For taking card payments online, only Stripe does the job, at 2.9% plus 30¢ on a US account. Comparing wise vs stripe fees only makes sense for the parts both can do.
What is the Stripe FX fee?
Stripe adds 1% on US accounts and 2% on UK and EEA accounts when it converts a payment into your currency. It sits on top of the card fee and any international card surcharge.
Does Stripe convert currency automatically?
Yes. Any payment in a currency you haven’t set up for settlement is converted into your default currency, with Stripe’s conversion fee. Payments in a currency you have a bank account for are paid out in that currency without conversion.
Is Wise the best exchange rate?
Wise uses the mid-market rate with no markup and charges a stated fee, which often makes it one of the cheapest options. It isn’t always the cheapest for every currency or amount, so compare the full cost, rate plus fee, before large transfers.
Who has the best FX rate for online sellers?
No provider wins every time. For most small sellers, a multi-currency account such as Wise beats a payment processor’s conversion fee. Compare what you actually receive after the rate and fees, not the advertised rate alone.
Can I connect Stripe to Wise?
Yes. Add your Wise account details as a payout bank account under Settings, then Bank accounts and scheduling, in Stripe. The Wise details must match the payout currency and be in that currency’s home country.
How much are Stripe to Wise fees?
A standard Stripe payout and a domestic Wise deposit are both free. You pay Wise’s conversion fee when you convert, any Stripe settlement fee for an extra currency, and Wise’s one-off business setup fee.
How do I check Stripe’s exchange rate today?
Stripe doesn’t publish a public daily rate. Open a converted payment in your Dashboard to see the rate it used. For a live comparison, check the mid-market rate on Google or Wise at the same moment.
Can a US Stripe account pay out to Wise?
Yes, to Wise USD account details, which come with a US routing and account number. Payouts arrive as domestic ACH transfers, which Wise receives for free.
Conclusion
Chloe kept Stripe for checkout and added Wise for the money side. Her US sales now stay in dollars, pay out to her Wise USD details, and get converted when she needs pounds. She pays US print suppliers straight from the dollar balance.
When you compare Stripe vs Wise for FX rates, compare where the conversion happens, not which company is better. Stripe charges 1% or 2% to convert. Wise charges from 0.24%, with the exact fee shown upfront. If you sell regularly in another currency, add Wise account details to Stripe, check your settlement fee, and run one month’s numbers. What currency do most of your customers pay in?
