Frugal Flyer Switches to Wise Business for Rebate Payouts

by | Published Apr 29, 2022 | Edited Aug 27, 2022

Frugal Flyer Rebates has seen substantial growth through 2021 and Q1 2022, with two offers in particular that received a lot of interest: 

In addition, we now have very lucrative rebate offers on Scotiabank’s premium credit cards.

With this growth has come several growing pains, one of which is the human labor required to pay out large numbers of rebates via e-Transfers, especially given the lean team we currently have. 

Therefore, we sought to streamline our payment process, which would in turn allow us to pay out rebates much faster going forward.

Switching to Wise Business as a Payment Solution

Surprisingly, the best available solution comes from Wise (formerly TransferWise). Wise is a multi-currency account and international currency conversion/transfer service which we’ve recommended for converting CAD to USD. They also have a Visa Prepaid Card which we recently reviewed. 

While reviewing Wise personal, I discovered their business account which offers a feature called ‘batch payments’. This was perfect for us as it allows us to pay rebates out quickly and all at once in large batches. 

As a result, Frugal Flyer is now conducting all rebate payments via Wise.  

How Do Wise Payments Work?  

When sending payments to approved rebate applicants through Wise, we only require a name and email address, just as with e-Transfer. Rebate applicants will receive an email notification from Wise alerting them that they are being sent money (make sure to check junk/spam).

Wise payment notification - Frugal Flyer wants to send you money with Wise

Note that you do not need to have a Wise account at the time of applying for a rebate. Conversely, if you do have a Wise account already, you do not actually need to use the same email address as your Wise account when you apply for a rebate.

After clicking through to ‘Complete your transfer’, you will either be prompted to log in or to create an account if you do not already have one.

Wise payment set a password to accept 10 CAD from Frugal Flyer

Option 1: Receive Payment Direct to Bank Account

Upon logging into your account, you will be prompted to enter your bank account details to receive the transfer, including institution number, transit number, account type, and account number. These details are stored securely with Wise.

Wise enter your Canadian account details to accept payment

Once you hit the claim button, you’re finished. The payment will reach your bank account in 1-2 business days.

Option 2: Receive Payment via Interac e-Transfer from Wise

Alternatively, you can select to receive the payment via Interac. This option has a few added steps:

  1. Once you choose the Interac payment option via Wise, you will receive an email from Wise with further instructions and a PIN.
  2. You will also receive an email from Interac with a link. When you click the link you will be asked to enter the PIN received in the Wise email.
  3. Once the PIN is entered successfully, Interac will then send you the e-Transfer.

We would generally recommend Option 1 for receiving payment as it is simpler and has less failure points (eg. some of these emails could go to spam/junk). However if you strongly prefer e-Transfer then at least Option 2 is available to you.

Important note for both Option 1 and Option 2: if you do not respond to the initial Wise transfer request within 3 business days, it will be automatically cancelled by Wise and refunded back to us. So please act on the transfer as soon as you receive it and do not let it sit in your inbox.


While we realize this process isn’t quite as simple for our readers as accepting an Interac e-Transfer (particularly with auto-deposit enabled), we have to balance the user experience with the efficiency of our own operations. Ultimately, using Wise will allow us to pay rebates much faster and scale our rebate program to the next level, which will be a win-win for everyone.

Additionally, once you have a Wise account and have added your bank details to accept your first transfer, you won’t have to add those details again, which makes the process even smoother for repeat applicants. 

If you don’t already have a Wise account, you can sign up using this link to get a fee-free first transfer of 500 GBP (~$800 CAD). You could use this the next time you need to convert currency from CAD to USD to pay off your US credit cards, as an example.

Reed Sutton

Reed Sutton

Founder at Frugal Flyer
Reed is addicted to the science (and art) of earning and redeeming travel points, and frequently pairs his trips with his other hobby: photography. Through Frugal Flyer, Reed aims to distill some of the complex and esoteric points strategies into digestible information. Furthermore, he hopes to use his technical expertise to develop invaluable applications and tools for the travel community.


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2 comments on “Frugal Flyer Switches to Wise Business for Rebate Payouts

  1. Jokes on you Reed! I benefit greatly from this change. I didn’t want to pay the 20 cent loading fee for Wise Borderless to begin with. 😛