Much will be expected of the 21-year-old if a big-money deal is wrapped up.
He is poised to become the most expensive full-back in world football with just one full season of senior football to his name.
United could be considered to be taking a gamble on a player that still has much to prove.
They are, however, buying into the undoubted potential of a defender who has already held his own in Premier League company.
Former Red Devils striker Cole believes he will prove to be a useful addition.
Wan-Bissaka has cleared all of the hurdles put in front of him so far and the intention is that even more will be overcome if he joins the ranks at Old Trafford.
Cole told Sky Sports when pressed on whether the highly-rated youngster represents good business for United: “I believe so.
“He’s a very good young player. He’s done very well considering he didn’t start his career as a full-back. He’s done extremely well playing there.
“If you come to a club like Manchester United, no doubt he will learn a lot more and have the opportunity to play at a level that he would no doubt like to play at.”
Wan-Bissaka is a product of a famed academy system at Selhurst Park.
He made his competitive debut for the Eagles in February 2018.
Roy Hodgson saw plenty of promise in the hard-working right-back and handed him a further 39 appearances across the 2018-19 campaign.
Wan-Bissaka has become an England U21 international, with senior honours expected at some stage, and has offered nothing to suggest that he is not ready for another step up in his career.
United legend Wayne Rooney is among those who believe he can thrive at Old Trafford, with a prodigious talent urged to play with “no fear” and take as many lessons as possible from those who will surround him in a star-studded squad.