Software Comparison

AIB Business Current Account vs Wise Business - Irish business-banking Software Compared

Choosing between AIB Business Current Account and Wise Business is one of the most common decisions Irish businesses face when evaluating business-banking software. This comparison breaks down everything an Irish SME needs to know, from Revenue integration and GDPR data residency to pricing and ease of use.

View AIB Business Current Account View Wise Business

Last verified: 25 May 2026 data verified to the older of the two vendor profiles Methodology

Quick Verdict

AIB Business Current Account vs Wise Business - Feature Comparison

Feature	AIB Business Current Account	Wise Business
Irish (IE) IBAN	Yes - Irish (IE) IBAN issued as standard, fully compatible with Revenue ROS Direct Debit for VAT3, PAYE, and Corporation Tax.	No - Belgian (BE) EU IBAN issued. Causes friction with Revenue direct debits and some Irish creditors.
Deposit Protection	Irish Deposit Guarantee Scheme covers eligible deposits up to EUR 100,000. AIB is a licensed credit institution regulated by the Central Bank of Ireland (C21174).	Not a licensed bank. Funds are safeguarded under EU e-money rules but are not covered by the Irish Deposit Guarantee Scheme.
FX and Multi-currency	Standard bank FX margins apply on international transfers. EUR-native account only.	Near mid-market FX rates across 40-plus currencies. Local account details in GBP, USD, EUR, AUD, NZD and more.
Lending and Overdrafts	Full lending suite: overdrafts, term loans, asset finance, merchant services, and access to SBCI Growth and Sustainability Loan Scheme.	No lending, overdrafts, or credit facilities of any kind.
Irish Bank Feeds	Direct bank feeds to Xero, Sage Business Cloud Accounting, QuickBooks Online, and BrightBooks.	Direct integration with Xero, QuickBooks, and FreeAgent.
Irish Support	Irish branch network and Irish-hours telephone support available.	Email and in-app support only. No Irish-based or Irish-hours customer support.
Revenue and PAYE Compliance	No native Revenue integration or PAYE Modernisation at the bank level. Requires a separate accounting or payroll platform.	No native Revenue integration or PAYE Modernisation at the bank level. Requires a separate accounting or payroll platform.
Pricing
Starting Price	From €4/month	Free tier available
Free Trial	✗	✓
Irish Compliance
Revenue Integration	✗	✗
PAYE Modernisation	✗	✗
Irish Bank Feeds	✓	✓
GDPR Data Residency	EU	EU
SEPA Direct Debit	✓	✓
Irish IBAN Support	✓	✗
VAT Handling	✗	✗

Irish Compliance Comparison

For Irish businesses, compliance with Revenue, GDPR, and local banking standards is non-negotiable. Here is how AIB Business Current Account and Wise Business compare on the requirements that matter most to Irish SMEs.

Revenue Integration

Neither AIB Business Current Account nor Wise Business offers native Revenue Online Service integration. Irish businesses in business-banking may not need this feature directly, but should ensure their accounting software handles Revenue compliance separately.

Irish Bank Feeds

AIB Business Current Account supports SEPA Credit Transfer, SEPA Direct Debit, Pain.001, Pain.008. Wise Business supports SEPA Credit Transfer, SEPA Direct Debit (incoming). AIB Business Current Account has broader Irish bank compatibility, which matters if you bank with SEPA Direct Debit or Pain.001 or Pain.008 - you will get automatic bank feeds or SEPA payment file support that Wise Business cannot offer.

GDPR Data Residency

Both AIB Business Current Account and Wise Business store data in EU data centres, providing strong GDPR compliance out of the box. Irish businesses can use either platform without worrying about cross-border data transfers to the US or other non-EU jurisdictions.

SEPA and IBAN Support

Both AIB Business Current Account and Wise Business support SEPA Direct Debit and Irish IBAN format. This means you can process euro payments, set up direct debits, and handle bank transfers in the standard European format without any manual workarounds.

VAT Handling

Neither AIB Business Current Account nor Wise Business handles Irish VAT directly. This is expected for business-banking tools - your accounting software should manage VAT compliance.

Pricing Comparison

All prices below are in euro. Pricing can change - we verify vendor pricing monthly, but always confirm on the vendor's website before purchasing.

AIB Business Current Account

€4 /mo

Pricing model: Flat rate
Free trial: No
EUR pricing guaranteed: Yes

View AIB Business Current Account pricing →

Wise Business

Free

Pricing model: Usage-based
Free trial: Yes
EUR pricing guaranteed: Yes

View Wise Business pricing →

Wise Business does not publish entry-level pricing - request a quote directly. Total cost of ownership depends on users, plan tier, add-ons and features, so always calculate the full annual cost for your team size before committing.

Who Should Choose AIB Business Current Account

AIB Business Current Account is the better fit if your business matches one or more of these profiles:

✓ Companies that value Irish-based phone and email support
✓ Businesses banking with SEPA Credit Transfer, SEPA Direct Debit, Pain.001, Pain.008 who want reliable bank feed or payment file support
✓ Growing businesses with 21-50 employees that need a platform which scales

Who Should Choose Wise Business

Wise Business is the better fit if your business matches one or more of these profiles:

✓ Those who prioritise user satisfaction - Wise Business has a higher editorial rating (4/5)
✓ Those who value: near mid-market fx rates across 40+ currencies
✓ Those who value: transparent, usage-based pricing

Our Verdict

Neither product offers native Revenue integration, PAYE Modernisation support, or VAT handling at the bank level, so both require a separate accounting or payroll platform for Irish compliance. Most Irish SMEs operating internationally would be best served by holding AIB as their primary account for lending, cash, and Revenue compliance, and using Wise as a complementary FX and multi-currency layer.

Ultimately, the best choice depends on your specific business needs, team size, and priorities. We recommend taking advantage of free trials from both vendors before making your final decision. If you are working with an Irish accountant or payroll bureau, ask which platform they prefer - their familiarity with the software can save you significant time and hassle during setup and ongoing support.

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Frequently Asked Questions

Is AIB Business Current Account or Wise Business better for Irish SMEs?

AIB Business Current Account wins for any Irish SME that needs a primary banking relationship: it issues an Irish (IE) IBAN, supports ROS Direct Debit for Revenue VAT3, PAYE, and Corporation Tax instalments, provides overdrafts, term loans, and SBCI scheme access, and carries Irish Deposit Guarantee Scheme protection up to EUR 100,000. Wise Business wins for Irish exporters, agencies, and freelancers with material overseas billing, where near-mid-market FX rates across 40-plus currencies will materially reduce conversion costs compared to AIB's FX margins. The critical Irish-specific gap with Wise is the Belgian (BE) IBAN rather than an Irish (IE) one, which causes friction with Revenue direct debits and some domestic creditors. Neither product offers native Revenue integration, PAYE Modernisation support, or VAT handling at the bank level, so both require a separate accounting or payroll platform for Irish compliance. Most Irish SMEs operating internationally would be best served by holding AIB as their primary account for lending, cash, and Revenue compliance, and using Wise as a complementary FX and multi-currency layer.

Which is cheaper, AIB Business Current Account or Wise Business?

AIB Business Current Account starts at From €4/month, while Wise Business starts at Free tier available. Wise Business is the more affordable option at entry level, though total cost depends on the number of users and features you need.

Does AIB Business Current Account or Wise Business have better Irish bank feeds?

Which has better GDPR compliance, AIB Business Current Account or Wise Business?

AIB Business Current Account stores data in EU data centres (GDPR-friendly). Wise Business stores data in EU data centres (GDPR-friendly). Both offer EU data centre options, though configuration may be required.

Can I switch from AIB Business Current Account to Wise Business?

Yes, migrating between AIB Business Current Account and Wise Business is possible. Most business-banking platforms allow you to export your data in CSV or standard formats. We recommend working with your accountant or IT provider to plan the migration, ideally at the start of a new financial year or payroll period to minimise disruption.

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