Grey and Wise can both give eligible users foreign account details, but Grey is built especially for freelancers and remote workers in markets where receiving overseas income is difficult. Wise has broader country and currency coverage and a more established conversion and transfer product.
The cheapest choice depends on the full payment path. Receiving may have a fee, currency exchange may have another, and local withdrawal may add a third. Comparing only the middle exchange misses the real cost.
1,373.63Grey and Wise compared
| Feature | Grey | Wise |
|---|---|---|
| Main user | Freelancer, remote worker or small business | Individuals and businesses moving and holding currencies |
| Receiving | Foreign account details for eligible markets | Local account details for eligible users and currencies |
| Exchange | Price depends on account country and currency | Mid-market rate plus a visible fee |
| Withdrawal | Local bank and some mobile-payment methods | Bank transfer to supported destinations |
| Best fit | Getting foreign earnings into an underserved home market | Broad multi-currency receiving, conversion and payments |
Compare three stages, not one fee
Grey's withdrawal table (opens in a new tab) lists different charges for each destination and payment method. Its own Nigeria account guide also describes receiving and conversion charges for that market. Wise pricing (opens in a new tab) changes by currency and payment action.
Write down these numbers for each provider:
- What the client pays.
- What reaches the foreign-currency balance.
- What remains after exchange.
- What reaches the local bank or wallet.
The fourth number is the one that pays the bills. A free account opening or cheap withdrawal does not prove the whole path is cheaper.
Where Grey is stronger
Grey focuses on access. A freelancer in a supported market can give a US client local-style account details, receive dollars and decide when to convert. Local withdrawal options can connect that income with a bank or mobile wallet at home.
That focus matters when a normal international wire is expensive or the client refuses to use a specialist transfer link. Grey can solve the collection problem before the currency problem.
Where Wise is stronger
Wise covers more currencies and countries and has a simpler public explanation of conversion cost. It is also useful for outgoing payments, travel spending and holding several currencies, subject to local account availability.
Wise may be cheaper after the money has arrived, but access comes first. If Wise does not offer account details to a user in their country, the lower theoretical conversion price is not available to them.
Client payments and account checks
Confirm that the account terms permit the kind of payment you expect. A salary, freelance invoice, marketplace payment and personal transfer can be treated differently. Use the correct reference and beneficiary name.
Both providers may request invoices, contracts, payslips or proof of the business relationship. This protects the payment system but can delay funds when documents are missing. Keep signed agreements and matching invoice details.
Frequently asked questions
Is Grey cheaper than Wise
There is no single answer. Grey and Wise charge at different stages and availability differs by country. Add receiving, exchange and withdrawal costs before comparing.
Is Grey a bank account
Grey provides eligible users with account details through financial partners. The product should not automatically be treated as a bank account opened directly with the partner bank.
Which is better for freelancers
Grey can be better where it unlocks a practical way to receive foreign income. Wise can be better for broad currency coverage and transparent conversion when its account details are available to the user.
Can I move money from Grey to Wise
It may be possible using supported bank details, but check both providers' account terms and every transfer charge first. Moving between services only saves money if the extra withdrawal and deposit steps cost less than the conversion avoided.
Sources: Grey withdrawal fees (opens in a new tab), Grey foreign account service (opens in a new tab), Wise pricing (opens in a new tab), Wise account details (opens in a new tab). Checked 27 August 2026.