Managing Multi-Currency Accounts with Wio Business

Manage international business seamlessly with Wio Business multi-currency accounts. Hold balances, exchange currencies at live rates, and send or receive local and international transfers—all directly from the Wio Business app.

Supported Currencies

You can open accounts and hold balances in up to 10 currencies:

• AED – UAE Dirham

• USD – US Dollar

• EUR – Euro

• GBP – British Pound

• SAR – Saudi Riyal

• CNY – Chinese Yuan

• SGD – Singapore Dollar

• AUD – Australian Dollar

• CAD – Canadian Dollar

• CHF – Swiss Franc

Key Account Benefits & Limits

• Free Account Opening: Opening a multi-currency account is completely free.

• Multiple Accounts per Currency: You can open up to 3 current accounts for each supported currency.

• Dedicated IBANs: Every currency account comes with its own unique IBAN and account number (the last 10 digits of your IBAN).

• Account Confirmation Letters: Download an official account confirmation letter anytime directly from the app.

• Multi-Currency Invoicing: Issue invoices to your clients in any supported currency.

• Unified Statements: View all your multi-currency balances and transaction history in your monthly statement.

• Card Linking: Your physical and virtual debit cards remain linked to your primary AED account.

How-To Guides

How to Open a New Currency Account

1. Log in to the Wio Business app.

2. Tap the Accounts icon.

3. Tap Open a new currency account ➕.

4. Review the features and tap Open new account.

5. Choose your desired currency and tap Open <currency> account to confirm.

6. Tap Check Account to go straight to your new currency account.

How to View and Share Your Account Details

1. Log in to the Wio Business app.

2. Go to the Accounts screen.

3. Select your currency account (or swipe left/right between accounts).

4. Tap the ℹ Account details shortcut (or the ℹ️ info icon in the top-right corner).

5. From this screen, you can copy your IBAN and BIC/SWIFT details, share your account information, or download your Account Confirmation Letter.

How to Set a Custom Nickname for an Account

You can personalize your account names (up to 24 characters including spaces) to keep your business finances organized:

1. Log in to the Wio Business app.

2. On your dashboard, select the currency account you wish to rename.

3. Tap Account details.

4. Tap the edit icon next to the account name.

5. Enter your preferred nickname and confirm to save.

(Note: Your initial AED account name is set to your registered company name by default.)

How to Move Money Between Same-Currency Accounts

Transfers between your own accounts in the same currency are instant and free:

1. Log in to the Wio Business app.

2. Under Accounts, tap Transfer, then select Move between accounts.

3. Choose the destination account in the same currency.

4. Enter the amount and tap Move Money.

5. You will see a confirmation screen: "Your money's moved".

How to Exchange Currencies (FX)

Exchange funds between any of your supported currency accounts with zero transfer fees:

1. Log in to the Wio Business app.

2. From the dashboard, tap the Exchange (?️) icon.

3. Select the currency you want to exchange (e.g., I want to buy USD or I want to buy AED).

4. Tap the ? Switch icon to swap the source and destination currencies as needed.

5. Enter the amount using the keypad.

6. Review your transaction summary:

• Live exchange rate

• Amount to be debited

• Amount to be credited

• Transfer fee: Free

7. Confirm the transaction to complete your currency exchange.

Transfers & Payments

Sending Transfers

• To another Wio account: Transfers to any Wio account are instant, regardless of the currency. If currencies differ, the live exchange rate will be displayed and applied at the time of transfer.

• To non-Wio UAE bank accounts (in foreign currencies) or International accounts: Select International Payments and proceed through the SWIFT transfer flow. Standard international transfer fees apply.

Receiving Transfers

• International Transfers (SWIFT): You can receive incoming international transfers directly into your specific currency account using its unique IBAN.

• Local Transfers in AED to Non-AED Accounts (Aani / Instant Payments): If a local payment is sent in AED to your non-AED account, the funds are automatically converted to your account currency at live rates. You can view the original amount, exchange rate, and converted balance in your transaction details.

• Cash Deposits: Cash deposits at ATMs/kiosks are supported for your AED account.

Frequently Asked Questions (FAQs)

Are there fees for exchanging currencies?
No, currency exchange within the Wio Business app is free of transfer fees. You only pay the live exchange rate shown at the time of conversion.

What is the AED to USD exchange rate?
Wio Business offers a competitive exchange rate of 3.673 when converting from AED to USD. (Note: Exchange rates are subject to market conditions and live updates in the app.)

Where can I see my transaction history?
Go to the Accounts tab, select your account, and scroll or swipe to view your real-time transaction history.

Can I receive transfers if the sender sends a different currency?
Yes. If an incoming transfer currency differs from your account's currency, it will be automatically converted based on foreign exchange market rates.

Need Help?

Contact Wio Care via WhatsApp at 600 500 946 for any transfer-related questions or issues.