Contacts in Wise are the one of the main ways to manage payment activity. The two things every business needs to do is 1) Get Paid, and 2) Make Payments, so naturally this is how Wise thinks about interacting with Contacts.
If you are going to pay a person or vendor more than once or request payments from a 3rd party frequently, it is a great idea to add these people or businesses as a contact! You will be able to transact with them easily in the future, and soon have a centralized view of your payment history with them.
From within the Contact tab in Wise, you can:
- Add a contact - click on the big green + button.
(Note, if paying a contractor, selecting Individual helps Wise know if a 1099 may be required for tax purposes.)
- Search for a contact
- Pay a contact via Bank Transfer or Instant by Wise
- Get Paid by the contact (send an invoice)
- View completed and pending payments with the contact
- View paid and unpaid invoices with the contact (and send reminders!)