How to Close a Wise Account [Step-by-Step Guide]

Having a Wise account is convenient and practical if you frequently need to handle international transfers and multi-currency spending. However, if you're juggling multiple financial platforms or planning a move abroad, you might decide it’s time to move on. Whatever the reason, closing your Wise account is easier than you might think.

If it is time to part ways with Wise, here you can find out how to wrap things up. Follow this guide to learn how to delete a Wise account and tidy up your bank data in just a few simple steps.

Before You Close Your Wise Account

Closing a bank account requires more than just tapping a delete button. From clearing your balance to updating linked services, there are several essential steps you’ll need to complete. Still, Wise (formerly TransferWise) has a relatively simple closure process compared to traditional banks.

Consider the following before closing a Wise account:

• Complete or cancel pending transactions. Wait for pending payments to go through, or stop any in-progress transfers.
• Transfer remaining funds. Take your account to a zero balance: withdraw all available funds, including Jars, Stocks, and Interest, to another bank account or payment platform.
• Save transaction history. Download the transfer receipts and balance statements you might need for tax or business use.
• Remove your saved bank account or card. As a final cleanup step, unlink any connected cards or bank details.
• Contact Wise support for any issues. If you experience issues with any of the above, get in touch with the support service before closure.

How to Withdraw Money from Your Wise Account

As we’ve already mentioned, make sure to move any remaining money before you close a TransferWise account. Wise requires users to empty every currency balance they have before account closure to comply with regulations and avoid unaccounted funds.

Here’s how to withdraw money from your Wise account:

1. Log in to your account.
2. Go to ‘Home’ and select a balance you want to empty.
3. Click ‘Send’.
4. When asked how much you would like to send, choose ‘Send it all.’
5. Pick the bank account to receive the funds.
6. Select ‘Confirm.’
7. Do this for each currency and balance that still has money.

Did you know that the top reasons people consider closing their bank account are poor handling of fraud incidents (55%) and attractive financial incentives from another bank (42%)?

How to Permanently Close Your Wise Account

Once your balance is zero, you can start the closure process on the Wise website or in the platform’s app:

1. Click your name in the top corner.
2. Go to the ‘Settings’ page.
3. Choose ‘Close account’ if you want to permanently cancel it.

It’s next to impossible to accidentally delete a Wise account, but even if this happens, you can easily reactivate it. Visit the login page, and enter the email and password linked to the deleted profile, and follow the on-screen instructions.

Note that this quick reactivation option is only available if you close the account yourself.

Closing Your Wise Business Account

If you plan to close a Wise business account, the preparation involves the same basic steps as a personal account. However, there are a few specific details to review beforehand:

1. Withdraw all remaining funds from your balance

There may be remaining funds in your balances or Jars, and the service won’t let you close a Wise account if there’s any money left there. Here’s what you should do:

• Go to the balance that still has funds in it.
• Select ‘Send.’
• Choose the account to which you want to send the money.
• Ensure you are sending the full amount to empty your balance.
• Confirm the payment.

2. Download and keep transfer receipts and financial records you need

This step is especially crucial for entrepreneurs, as this information might be useful for tax reporting, business audits, and dispute resolution in the future. Locate the transaction you want the receipt for in your account’s history and download the file.

3. Unlink all connected platforms and services

Create a checklist of all services linked to your Wise account, especially if you use them for business purposes, to avoid payment issues. For example, if services like Stripe, PayPal, or Shopify are still linked to your profile, they may attempt to charge money after closure, resulting in failed transactions and paused subscriptions.

4. Finalize or cancel all pending transactions

Make sure your balance is clear and no transfers are in progress. Otherwise, you'll be unable to close your account.

5. Cancel a Wise account

• Click on your business name in the top-right corner.
• Select ‘Settings’.
• Choose ‘Close your account’ and follow the on-screen instructions.
• If you don’t see a ‘Close your account’ option, you’re probably not the owner and can only leave it by clicking on ‘Leave your business account.’

After closing or leaving the account, you will no longer have access to its activity or statements.

There are still a few notes about how to close a Wise account that should be mentioned:

• You may have a personal account attached to your business account. In this case, you can close both or just the business one.
• If you keep your personal Wise account open, you can send money from your business account to it. Learn more on the company's website here.
• You can only close a business account if you are its owner. To change ownership, check the info here.

If your business is bankrupt or undergoing liquidation, your liquidator or insolvency administrator has to contact Wise at legalrequests@wise.com. Your Wise business account will be deactivated, and any remaining funds will be transferred as directed.