Hi all, any risk of potential closure of Wise account if transfering funds from Wise towards potential crypto friendly EMIs (to the likes of Bilderlings, Bankera or similar) ? Does it trigger a flag ? In the past, I've been banned by them for no apparent reson I qfigured out without possible discussion and now I'm a bit vigilant about any action which could upset Wise out the blue. Thanks
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Risk of Wise acct closure feeding crypto friendly EMIs by nature ?
- Thread starter pucecacou
- Start date
wise->bankera hundreds of thousands without one single hiccup - I stopped couple of months ago when bankera got nuts but it had nothing to do with crypto and wise
definitely not an advice, make your own research and decision, I simply state fact
search the forum, discussed couple of times in other threads - they ask for nonsense (the real one, way above all the nonsense asked in the sector nowadays)
Be advised that Wise (as well as Revolut, BTW) is known to have one pitfall: Closing the (especially business) accounts without any warning or notice, without any reasonable explanation and freezing the cash for undefined time. There is really a very remarkable number of cases where their AI machine just makes a false deduction / misinterprets data (or/and some poorly payed trained monkey at the first line of compliance departement does the same); and the dispute takes eons. There is a lot of (true) stories here at forums describing account blockings for no apparent reason, exactly as you mention in your post; and a lot of true stories describing account blockings for a very clear reason like a crypto-related operation (that is really against their ToS).
Putting all this together, make your own conclusion...
(I, personally, do not consider Wise neither reliable nor predictable for any other use case than you work as a porter, pay for your groceries and from time to time send some amount to your parents somewhere. Or perhaps you have a grocery shop and pay to your local suppliers.)
sir, don't put panic, please. Bankera is totally fine and it works as it should work.
IF ANYONE IS HAVING TROUBLES with their compliance, feel free to write me! I know them all!
@Gediminas things are almost always fine when you have right connections w/EMI senior management.
However, from the perspective of general Bankera user who opened an account him/herself, do you think it is totally fine to have to go to third party (you in this case) to try solving many problems that are evidently present within Bankera's onboarding/compliance workflows?
How long have you been using the card and how much do you in average hold there? You don't need to say the exact figure but just something that could give me an impression on if they are worth it.
Im with them for 3 years now. I hold a base balance of about 20k, have moved through it up to 200k in a single transaction (so it happened that I had a balance of 200k+ for 24h). You can only send SEPA payments and for some reason you can’t send to GB.
Never had any problem. The customer support is good.
In the terms and conditions of Wise, it is mentionned that everything related to crypto is prohibited:
1.2.2 Financial and other professional services
- Binary options.
- Escrow services.
- Using Wise Borderless account as an escrow account.
- Companies involved in the exchange or trading of cryptocurrencies, or any other virtual currencies.
- Including payments for the purpose of purchasing cryptocurrencies.
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