Wise business trading address

[myhand]

Hi @aragon please could you provide feedback on how you resolved the request from Wise, as I have a similar situation.

My Wise business account is registered in the UK, and is an address supplied by the formations company. Actual trading address (my home) is in another country. Reason for having registered my Wise business account in UK is that I required a debit card for the account. Wise doesn't yet offer debit cards for my home country, although does allow me to hold an account.

I am concernded about the point raised by another poster, that if the registered address and trading address are in different countries it may trigger an issue?

So am interested to hear your experience, as to whether you ended up providing them a home address, or an alternate.

You can get a utility bill for the company if required.

 

[Neptune]

You can get a utility bill for the company if required.

Hi @myhand, how easy is to get a valid Utility Bill for a Trading Address in UK?
If it is easy, does it cost a lot?

 

[myhand]

Hi @myhand, how easy is to get a valid Utility Bill for a Trading Address in UK?
If it is easy, does it cost a lot?

I send you an PM with more info.

 

[georgio]

I send you an PM with more info.

I'm in the same situation, Uk company and resident in the EU, and Wise asked where I do business..
Is it possible they freeze the account after the answer?
The Uk address is a letterbox, they have a co-working space too.

 

[hungryit]

easy to get a valid utility bill for your business with @myhand. I ordered mine earlier today.

 

[aragon]

So it has been no problem, for now. The real test will come after a year or two, I think. And the company will probably have created a backup plan by then.

Just an update. Over a year has passed, and still no problems or any more questions from Wise. The business is still trading the same as before. Touching wood.

 

[Tonyu]

Just an update. Over a year has passed, and still no problems or any more questions from Wise. The business is still trading the same as before. Touching wood.

Aragon, thanks for sharing your experience. It is very appreciated. We re in the same boat. WISE asked us to provide the address 5 months after account opening. Our LTD company is registered in UK but we are operating it 100% remotely from another EU country.

I am wondering if declaring a trading address in another country triggers tax treaties? Have you had any other issues related to this?

 

[aragon]

I am wondering if declaring a trading address in another country triggers tax treaties? Have you had any other issues related to this?

Hey Tony, so far no further complications arose since Wise obtained the company's trading address. Touching wood!

 

[muhammadlinked]

Hey Tony, so far no further complications arose since Wise obtained the company's trading address. Touching wood!

Hi, Can you please explain exactly How you solved this case?

Hey Tony, so far no further complications arose since Wise obtained the company's trading address. Touching wood!

One more thing, is it something will appear after 2 years of using WIse business account. The reason I am researching this query is, I am running a UK LTD , but living in Bangladesh. I saw on facebook groups, many people posting about this from a day before to till now. Just thought , this can happen with me too. so gathering info's to solve this at advance. Running this WIse account since 2023 August to now. So do you think I will be recieving this thing after 1 year, or it can arrive anytime. The important part is, We can't see option of choosing Bangladesh on their trading location option. So little worried about its solution. Don't know what to do

 

[wozman]

Hi, Can you please explain exactly How you solved this case?


One more thing, is it something will appear after 2 years of using WIse business account. The reason I am researching this query is, I am running a UK LTD , but living in Bangladesh. I saw on facebook groups, many people posting about this from a day before to till now. Just thought , this can happen with me too. so gathering info's to solve this at advance. Running this WIse account since 2023 August to now. So do you think I will be recieving this thing after 1 year, or it can arrive anytime. The important part is, We can't see option of choosing Bangladesh on their trading location option. So little worried about its solution. Don't know what to do

Yeah actually today I got an email to update my trading address or my account will be suspended by 22th August.

I also have UK LTD and I am not UK citizen, not Bangladesh as well. Anyways that's what they said:

If you work remotely, from home or at a co-working space, we’ll need the address you work from. This address doesn’t need to be in the same country as the one where you registered your business. Operating a remote business is a valid, common and authorized use case.​

We won’t send any mail to the address you give us — we just need it for regulatory purposes.​

So that sounds like you can put any address you want?

We can only verify your physical address. This means that we can’t accept any of the following options:​

• PO box​

• Mail forwarding or receiving service​

• Virtual address​

• Business registration agency​

• Attorney offices​

Don't see any problems with that, I just put my home address as trading address, in case they need some proof of address document, I can easily provide it. Before I updated it to my home address, my trading address was the same as my business registration agency address.

 

[muhammadlinked]

Yeah actually today I got an email to update my trading address or my account will be suspended by 22th August.

I also have UK LTD and I am not UK citizen, not Bangladesh as well. Anyways that's what they said:

If you work remotely, from home or at a co-working space, we’ll need the address you work from. This address doesn’t need to be in the same country as the one where you registered your business. Operating a remote business is a valid, common and authorized use case.​

We won’t send any mail to the address you give us — we just need it for regulatory purposes.​

So that sounds like you can put any address you want?

We can only verify your physical address. This means that we can’t accept any of the following options:​

• PO box​

• Mail forwarding or receiving service​

• Virtual address​

• Business registration agency​

• Attorney offices​

Don't see any problems with that, I just put my home address as trading address, in case they need some proof of address document, I can easily provide it. Before I updated it to my home address, my trading address was the same as my business registration agency address.

In Bangladesh , the case is very different. We can't see the Option to add Bangladesh as the location ( verified my other colleauges). SInce I haven't recieved anything from Wise that says, we need you to update your trading address bla bla, I called Wise support team, They said, there is nothing to do with your account, there is not verification needed. I don't know , maybe they just ticked the boxes and maybe I will be recieving email soon. But let me hope to not get into this tension for now. Do you have any other ways knoweledge, How we can rent a physical address , also they will serve us the utility bill copy as well?

 

[aragon]

Hi, Can you please explain exactly How you solved this case?

Hey there! In my case it was just a matter of entering my trading address, and nothing more has come of it since. The business is still trading and using its Wise account as it normally does. Wise has been really great for this business.

One more thing, is it something will appear after 2 years of using WIse business account.

Sorry, I really don't know. I can only report on the specific experiences of my business. I suggest to prepare as best you can, and to share your experiences here as well. Hope your situation works out as well as mine did - good luck!

 

[wozman]

In Bangladesh , the case is very different. We can't see the Option to add Bangladesh as the location ( verified my other colleauges). SInce I haven't recieved anything from Wise that says, we need you to update your trading address bla bla, I called Wise support team, They said, there is nothing to do with your account, there is not verification needed. I don't know , maybe they just ticked the boxes and maybe I will be recieving email soon. But let me hope to not get into this tension for now. Do you have any other ways knoweledge, How we can rent a physical address , also they will serve us the utility bill copy as well?

I don't have 100% solution, but just a theory below:

Once you get that email, they will mention that the physical address can be different from the registered company address, etc. Including co working spaces. It does not sound very complicated to get a real physical address of a place where you work, so you can just go to a random co working space and rent it for 1 month and get some kind of proof from them. Maybe a small trip to nearby country that has trading address option on wise. I honestly think there will be no documents asked at all.
When you get that option to add the trading address, you just fill 4 fields, country, city, address, post code, and click save. There is no other page requesting docs, you can also delete/edit this address anytime you want, you can also add multiple trading addresses, I don't know the limit but I just added 1.

The only address that is uneditable is the registered company address.

I also saw on other forums where people from certain countries also had no option to add their country as trading address but they managed to fix it by phone call, all they did was called the customer support and told them to add an address that was not in the option list.

Anyways, I will update this thread once I get any updates from wise for my situation, if they even request docs or all went smoothly.

 

[muhammadlinked]

I don't have 100% solution, but just a theory below:

Once you get that email, they will mention that the physical address can be different from the registered company address, etc. Including co working spaces. It does not sound very complicated to get a real physical address of a place where you work, so you can just go to a random co working space and rent it for 1 month and get some kind of proof from them. Maybe a small trip to nearby country that has trading address option on wise. I honestly think there will be no documents asked at all.
When you get that option to add the trading address, you just fill 4 fields, country, city, address, post code, and click save. There is no other page requesting docs, you can also delete/edit this address anytime you want, you can also add multiple trading addresses, I don't know the limit but I just added 1.

The only address that is uneditable is the registered company address.

I also saw on other forums where people from certain countries also had no option to add their country as trading address but they managed to fix it by phone call, all they did was called the customer support and told them to add an address that was not in the option list.

Anyways, I will update this thread once I get any updates from wise for my situation, if they even request docs or all went smoothly.

Thanks for the info's mate. Let us knowm when your one gets resolved

 

[norival1992]

We have Ireland company, and then they are asking about address, we sent them virtual address and operation address in Ireland, then they suspended our account, it looks like a bad sh*t.

 

[muhammadlinked]

We have Ireland company, and then they are asking about address, we sent them virtual address and operation address in Ireland, then they suspended our account, it looks like a bad sh*t.

Is it like the registered office address is in Uk, the trading address in Ireland? bit confused. why they suspended, any reasons?

 

[lavel]

Must be more, have normal UK Ltd with normal agent registered address and updated my company details no problems with them.

 

[Amelie0219]

I also received an email from Wise today asking me to update my trading address, I registered a UK company, and my business is in China. Now I'm facing the same worries as many of you what should I do so that I don't need to worry about the potential trouble that they could shut down the account? Thanks for anyone's advice.

 

[internationalgangster]

Same here -
UK LTD, trading address is in china.
CA LLP with trading address in Thailand.

Got two emails from wise in the last weeks.. have to update the trading address. haven't done it yet.

 

[JackAlabama]

wise whacking accounts as normal.
The forum is full of this and it should not be trusted for crucial operations.