Wise vs Square
By Itai Varochik | Updated 2026
Quick Verdict
Overall Winner: Wise (4.6/5)
We tested Wise and Square side-by-side. Wise comes out ahead overall, but Square may be better for specific use cases.
Score Breakdown
| Criteria | Wise | Square |
|---|---|---|
| Features | 8.5/10 | 8.5/10 |
| Ease of Use | 9/10 | 9/10 |
| Value for Money | 9.5/10 | 8.5/10 |
| Customer Support | 7.5/10 | 7/10 |
| Overall | 9.2/10 | 8.5/10 |
Feature Comparison
| Feature | Wise | Square |
|---|---|---|
| No | No | |
| POS | No | Yes |
| Online Payments | No | Yes |
| Hardware | No | Yes |
| Banking | No | Yes |
| Payroll | No | Yes |
| Marketing | No | Yes |
Pricing Comparison
Wise: Free account; fees per transfer
Square: 2.6% + $0.10 in-person
Wise Pros & Cons
Pros
- Real exchange rate with no markup
- Transparent, low fees
- Hold and convert 40+ currencies
- Local account details in multiple countries
- Fast transfers (often same-day)
Cons
- Not a full bank replacement
- No lending products
- Limited cash deposit options
- Customer support response times vary
- Some countries have restrictions
Square Pros & Cons
Pros
- Free POS software
- Complete business ecosystem
- No monthly fees
- Great hardware
Cons
- Higher online rates
- Account stability issues
Key Specifications
| Spec | Wise | Square |
|---|---|---|
| Rating | 4.6/5 | 4.4/5 |
| Pricing | Free account; fees per transfer | 2.6% + $0.10 in-person |
| Year Founded | 2011 | 2009 |
| Headquarters | London, UK | San Francisco, CA |
Our Verdict
Wise wins overall. Choose Wise if you value International transfers. Choose Square if you prioritize Retail stores.
Frequently Asked Questions
Is Wise better than Square?
Based on our testing, Wise scores higher with a rating of 4.6/5 compared to Square's 4.4/5. However, the best choice depends on your specific needs.
What is the main difference between Wise and Square?
Wise is known for: International money transfers with real exchange rates and multi-currency accounts.. Square is known for: All-in-one payment and business management platform..
Which is cheaper, Wise or Square?
Wise pricing: Free account; fees per transfer. Square pricing: 2.6% + $0.10 in-person.
Can I use Wise and Square together?
While both tools serve similar purposes in the Payment Processing category, some users do use complementary features from both platforms.
What are the pros of Wise?
Real exchange rate with no markup. Transparent, low fees. Hold and convert 40+ currencies
What are the pros of Square?
Free POS software. Complete business ecosystem. No monthly fees
Which payment processing should I choose?
Choose Wise if you value International transfers. Choose Square if you prioritize Retail stores.