Go ahead and do that please. If you do it, and it can be proved that your information is authentic, I will buy a Gold membership and upload a call with an ex Wise employee in the hidden forums. A call which will prove what I said.That need to be fact checked - there is no evidence for your statement.
Be advised that an account freezing can happen with any financial institution, nowadays.It wouldn't happen with a local bank, not for such a sum as barely breaking 10k a year.
But I am now gonna try to detach from these online banks entirely, too much risk.
Not necessarilly.This is something their algorithms would pick up on almost immediately and would not wait 3 years to ban you,
This means nothing.and I've never had such thing happen to me.
Yes, this is one of possible explanations. But I guess that more likely @Sols is right here https://www.offshorecorptalk.com/threads/wise-account-gone.46334/post-325608you dont get it - you receive payment from Innocent trading company ltd in 2018. All fine. In 2024 Innocent trading opens account with wise. All fine, then innocent trading company receives a payment from "Missiles r US" in afghanistan. That is when the story starts for you
The amount of money is not a decisive factor for such a case.No, not a business account. Not that you need a business account to use Stripe. Maybe that's the reason. But consider that it's probably less than 10k annually, and some months I don't have payments coming in at all.
From what I know, Wise has a very paranoid compliance department, and that paranoid compliance department made the bot which bans accounts. What's worse is that Wise refuses to pay a team of people who will check if the bot has gone rogue or not, if it bans accounts for no reasons, etc.
It corresponds to an information that I possess.That need to be fact checked - there is no evidence for your statement.
Well... in my deep opinion (and according to my experience), it depends on the particular bank and particular EMI. It might seem that such a problem is better to solve with a bank than with an EMI, as with the bank you usually can approach some clerk personally; but in many cases, it does not help you as this frontline clerk has zero decision-making power. And try to reach someone competent e.g. in Societe Generale or a similar bank – next to impossible. Yes, small local banks are usually better re: this; but there are other risks (as they are small).
I hear you, I'm just saying for such an amount a bank would never freeze your account cause it's such an insignificant amount. Well, they don't have the regulators breathing down their necks. Wise's a pretty good service, never had an issue before this, if I did it was usually to confirm my identity and that always was resolved very quickly. Though, I should have just used Payoneer. Interesting thing about Payoneer is that they might freeze your account, but I've never actually had them freeze the ability to transfer money to a local bank or use the card, which I think is a bit more respectful.Just a few remarks...
Be advised that an account freezing can happen with any financial institution, nowadays.
Not necessarilly.
This means nothing.
Yes, this is one of possible explanations. But I guess that more likely @Sols is right here https://www.offshorecorptalk.com/threads/wise-account-gone.46334/post-325608
The amount of money is not a decisive factor for such a case.
It corresponds to an information that I possess.
Well... in my deep opinion (and according to my experience), it depends on the particular bank and particular EMI. It might seem that such a problem is better to solve with a bank than with an EMI, as with the bank you usually can approach some clerk personally; but in many cases, it does not help you as this frontline clerk has zero decision-making power. And try to reach someone competent e.g. in Societe Generale or a similar bank – next to impossible. Yes, small local banks are usually better re: this; but there are other risks (as they are small).
In general, my long-term opinion re: Wise (and Revolut) is quite well-known here, I think. Anyone interested can look e.g. here https://www.offshorecorptalk.com/th...est-how-diversify-the-money.43188/post-282826..
Be advised that I have already witnessed exactly this. With an European bank. Today's situation is ... as it is.I'm just saying for such an amount a bank would never freeze your account
I cannot comment. TBH, I have never been interested in having an account with Payoneer nor following closely what they were doing, so I am lacking the information...Interesting thing about Payoneer is that they might freeze your account, but I've never actually had them freeze the ability to transfer money to a local bank or use the card, which I think is a bit more respectful.
Please do that. Keep exposing the banks’ behavior.I will buy a Gold membership and upload a call with an ex Wise employee in the hidden forums. A call which will prove what I said.
It’s not about the amount. The cause of the problem is scientifically explained here: https://www.offshorecorptalk.com/threads/the-brain-of-a-public-servant.46323/I hear you, I'm just saying for such an amount a bank would never freeze your account cause it's such an insignificant amount.
Payoneer's hell if you were to invoice each client individually. They treat the client as a criminal, and then they'll harass you for a while until you just forget about their service. Didn't use it much and after 2-3 years of inactivity account got closed and I've reapplied. I've gotten a response on the Wise appeal, of course to tell me I need to resubmit my documents, so that's at least nice that it didn't take them 40 days to just respond, means there's a human there, still don't expect anything other than them sending the money back.@galadrel I sympathize with your issue and my opinion (as a long time Wise user - let's hope I don't jinx myself!) is similar to others here. Your personal Wise account (in Wise's mind) needs to be used for personal use only, understanding that you're a small-time web developer taking in occasional pay for whatever big/small jobs you did. "Personal" use in their mind: convert your USD/EUR to whatever currency, send it to your (own) bank account in other countries, or to your aunt in Timbuktu on a monthly basis, use their Visa card to pay for something (legal!), top it up from your own bank account, rinse, lather, repeat.
Payoneer, on the other hand, is a complete opposite. They DO NOT want you to use it for personal purpose; if your Timbuktu aunt feels like paying you back (to your Payoneer account), they WILL reject it. They want you to use it strictly for business - they want ALL your payees to be a business (that doesn't belong to you, if they can somehow prove it). Connect it with Stripe, PayPal, Amazon, whatever. It sounds perfect for your web development gig. Payoneer isn't "cheap" but it works (for me).
And goes without saying, never the Twain shall meet, keep your business business, your personal personal.
Good luck with the "appeal", go email the CEO maybe, at least to get your money back.
No, I get it. My advice (as well as others reading this thread) still stand though, keep your business business, keep your personal personal, and keep Stripe out of your personal, as this may not be the last time this 'hiccup' happens. Keep us posted and best of luck.Payoneer's hell if you were to invoice each client individually. They treat the client as a criminal, and then they'll harass you for a while until you just forget about their service. Didn't use it much and after 2-3 years of inactivity account got closed and I've reapplied. I've gotten a response on the Wise appeal, of course to tell me I need to resubmit my documents, so that's at least nice that it didn't take them 40 days to just respond, means there's a human there, still don't expect anything other than them sending the money back.
Smalltime is indeed the keyword. Because this is just funny, and it's just harassment, in my opinion, as these KYC/AML procedures are. Harass the little guy but make it 1% more expensive for the big guy to launder money which he'll do anyway because money talks. I guess anything qualifies as a business account, but indeed Stripe does not require you have to a company to sign up.
Well at least you got your "closure" (no pun intended!!) from your Wise love-hate relationship, and I hope you get your money back quickly. So I think we can all chalk it up for "using Stripe on personal Wise" as the root cause, and of course they will never really tell you why.Just got an email confirming I got the boot permanently. Now as for Payoneer, I had an account there opened same time as I did Wise. But of course Wise made using Payoneer redundant, so I didn't use it at all, save for a few times, and the times I did I invoiced clients individually, worked for those few times even though it was a hassle for me and the clients. No idea if account's still active, I know it would tell me I'm blocked if it wasn't (as they close accounts for inactivity and then you have to reopen), so I am waiting for support to reset those security questions that I long have forgotten.
It is what it is, I don't really like that they do that instead of just telling you to pack your s**t and get out, but I understand how these platforms work so it is not surprising. But Payoneer should be fine with Stripe, they'll hassle you if you get payments from private persons but companies should be fine. Or so I hope.Well at least you got your "closure" (no pun intended!!) from your Wise love-hate relationship, and I hope you get your money back quickly. So I think we can all chalk it up for "using Stripe on personal Wise" as the root cause, and of course they will never really tell you why.
Payoneer is a pain, I agree, unless you want to take the time and open an account with business banking (Currenxie, AirWallex etc) - I assume your customers are all over the world (hence using Wise and not your local bank). I was going to say if your customers are mainly in the US (and you sound like a US person), I've had good luck with Novo, it was easy to qualify as a freelancer. Payoneer charges $ to withdraw your Payoneer balance to your own bank account, which is pretty shitty. They do charge for inactivity fee (after 12 month of non-use) but I haven't heard of anyone getting booted out for not logging in often. Just make sure you have the original phone number and email you used (when you signed up) and worst case they'll want you to change your password. They do this today (about once or twice a year) even when you use it often.
Come to think of it I am not sure if Airwallex would open account for freelancer (i.e. someone who does not have an LLC or incorporation), maybe someone else here can address.
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