Wise business trading address

[genaris]

Just got the same request today by Wise to register a business place, for a foreign-owned US LLC. But my country of residence is not in the list of accepted countries, so that I cannot fill in my "trading" address. I guess I will lose this USD account, after losing Mercury account due to lack of US operations. I am left without USD account... I do not need one at the moment, but this can be a problem in the long run...

Exactly the same for me (problems with Mercury and now Wise with this form)! I just sent an e-mail to support to see what can I do to keep my USD account open (if actually possible...).

 

[drolive0]

Exactly the same for me (problems with Mercury and now Wise with this form)! I just sent an e-mail to support to see what can I do to keep my USD account open (if actually possible...).

Please share with us your findings when you get a reply!

 

[JackAlabama]

the wise monkeys even send the emails for closed accounts.

 

[genaris]

Please share with us your findings when you get a reply!

I got this reply from them:

I understand your question is about the email you received from us regarding the trading address update.

For compliance reasons, your business trading address has to be a physical location in a country where we offer Wise business accounts. When you’re updating it, you’ll see a drop-down list of supported countries.

If your country isn't supported, we’ll need to close your business USD account details on 22 August. This means you won’t be able to receive USD payments to these details, and your USD Direct Debits will be stopped. As an alternative, you can you can receive USD via Swift (international wire) transfers using your GBP account details.

Everything else on your Wise account will stay the same, and you can still send and receive money in other supported currencies.

Not very promising, but since I have no US operations (only EU customers) I guess I can live with GDP or EUR until I sign up at another EMI (if there is still any of them accepting my foreign-owned, non-US operation business...).

 

[drolive0]

Not very promising, but since I have no US operations (only EU customers) I guess I can live with GDP or EUR until I sign up at another EMI (if there is still any of them accepting my foreign-owned, non-US operation business...).

Thanks! Indeed, not promising, but at least they do not close everything. I understand that only GBP accounts can receive USD (that will be converted)? But maybe not EUR. Are you personally in the UK to have this GBP account?

 

[genaris]

Thanks! Indeed, not promising, but at least they do not close everything. I understand that only GBP accounts can receive USD (that will be converted)? But maybe not EUR. Are you personally in the UK to have this GBP account?

No, actually I didn't have any GBP account when I received that e-mail. I was curious about that sentence, so I went to my Wise account and opened a GBP balance. It was opened immediately, without questions or further proofs requested.

 

[HelloMyDroogs]

Has anyone just tried to go in and and confirm the US address details are correct? Do they actually ask you submit documentation or do just accept the current details without question?

Also what other options are people looking into? I am thinking about temporarily using the GBP swift code to receive USD as mentioned here while I build out another payment rail.

https://wise.com/help/articles/2935927/how-do-i-use-my-gbp-account-details
My main issue is my stripe pays directly to the that wise account so now I need to confirm another account with my stripe.

 

[internationalgangster]

i guess adding the trading adress outside of the registered country did have consequences.

 

[Sols]

Declaring a trading address outside of US has not been a problem on several accounts that I've seen. Most of them were small one-person companies that simply declared their place of residence as business address.

It probably also has to do with where (and what) that address is and the account's standing with Wise in general.

 

[JackAlabama]

i guess adding the trading adress outside of the registered country did have consequences.



View attachment 7594

emis often employ this trap. Its very normal in todays sharktank world.
Like revolut in the uae which killed the account but let you freely choose an uae address

 

[Millers]

Updated using my residential address which is not in the USA but is in a country in which Wise operates. Was accepted and no issues as yet.

 

[theblast3r]

Updated using my residential address which is not in the USA but is in a country in which Wise operates. Was accepted and no issues as yet.

Do you know if Thailand it's an a country that wise accepts?