Can I use TransferWise to receive payments from a business?

Wise, formerly known as TransferWise, can be a suitable option for receiving payments from a business depending on specific circumstances. Wise provides personal and business accounts that enable users to receive funds in various currencies. If a business wishes to pay you through Wise, they can send money using the recipient's local currency, which Wise will convert at market rates with minimal fees. To receive payments, the recipient needs to provide the business with the necessary bank account details or the unique Wise account information, including the relevant currency. Additionally, Wise offers features such as multi-currency accounts, which can simplify managing payments from different businesses operating in various currencies. It is important to check the specific policies and requirements on Wise's official website to ensure compliance with their terms and to have the most accurate and up-to-date information about receiving payments through their platform.