How much trust you put into wise?

[daxbr]

You don’t have freedom to choose anything on Wise. You are in the hands of the psycho monkeys in their compliance department. Your account can be closed/frozen at any time, irrespective of how you use it, how much money you move, your balance, your DD documents etc.

One has to remember how t_wise started in the business. There were/are a mass marketer that paid account opening bonuses to open as many accounts as quickly as possible. No documents were required. Those accounts are still operational and they cannot be closed without impacting the company in a very negative way. The only thing they did was to impose a monthly transfer limit on those accounts. Some people have 20, others 200 accounts.

This is quite different to opening accounts in a bank branch spending an hour with an experienced representative.

 

[uplana]

No documents were required. Those accounts are still operational and they cannot be closed without impacting the company

I have provided documents from the very beginning, that's about 4 years ago. I don't know when they started but I believe closing accounts if they fail to provide KYC is not a problem.

 

[extremedox101]

One has to remember how t_wise started in the business. There were/are a mass marketer that paid account opening bonuses to open as many accounts as quickly as possible. No documents were required. Those accounts are still operational and they cannot be closed without impacting the company in a very negative way. The only thing they did was to impose a monthly transfer limit on those accounts. Some people have 20, others 200 accounts.

i love to read about stuff like that . it's great to see how they act under pressure -obviously very passive.

 

[csp dubai]

wise is crap, and people who use it they are suicide guy , their ai compliance is crap, their custormer service is crap , they are just a big scam

 

[ezkampf]

The amount that is in Wise in a dollar account, is it passed on to other governments?

 

[CoinMaster]

wise has working fine for me all the time using it. no issues at all.

 

[Deepbarrels]

Don’t keep your money with any bank. Buy crypto and store it on a cold wallet.

like a ledger?

^ I second the question above although this time with Paypal. If I withdraw from my own Paypal into Wise (personal account), do they consider this 'business income' and may start asking questions, or does it count as just wiring personal funds? Does anyone have experience with Paypal to Wise Personal?

Were you able to withdraw/send your funds from paypal to Wise? I wasn't.

it is wise not to trust any emi

we were fine until some unknown event unrelated to us caused a number of cancelled accounts and subsequent legal action. As to amounts, irrelevant but expect this to be just a normal retail emi whereby they rather have no money but charge fees, very much like the other low cost emi sh*t shows

What alternative did you find after wise closed your account?

 

[JohnnyDoe]

like a ledger?

yes, or a Trezor, or any other one of the many devices you can find on the market: BEST Crypto Hardware Wallets of 2022: Top Hardware Wallets Reviewed

 

[gab1]

Were you able to withdraw/send your funds from paypal to Wise? I wasn't.

I was when I tested it, I only withdrew a tiny amount and it was years ago though.

 

[Deepbarrels]

I was when I tested it, I only withdrew a tiny amount and it was years ago though.

yeah they changed that, they do not want anyone to send their funds to a better competitor I guess...

 

[Spinat]

It can be done depending on what country you are from.

Were you able to withdraw/send your funds from paypal to Wise? I wasn't.

 

[Benzouser]

The amount that is in Wise in a dollar account, is it passed on to other governments?

No . . .
Just if your tax juristicion are asking they will provide what they asking for.

Well if u are a US citizien then im not that sure.....

 

[MiltonStone]

so far no issues with them for the last 1 year