Wise deactivated my business account

[Houdini]

Wise will not run with your money, they are to big for it. They will also treat you properly if you follow their rules of the game.

 

[JohnnyDoe]

Wise will not run with your money, they are to big for it.

like FTX

 

[avalanche]

like FTX

was FTX regulated by FCA?

 

[JohnnyDoe]

was FTX regulated by FCA?

Want to talk about Madoff? Enron? Meinl Bank? Lehman? MF Global? Refco? Just citing by memory…
https://www.theguardian.com/busines...o-longer-too-big-to-fail-says-bank-of-england

 

[Herman]

You just have to be patient with them. Send the info they ask for, and cross your fingers for a positive response.
Bumping your tickets (apparently) sends it to the bottom of the queue, so best if you're just patient.

Good luck.

Thanks for advice. How long did it take to get the refund? I wait for 11 days, and do not get any answer from wise. ((

 

[MessedUp]

Thanks for advice. How long did it take to get the refund? I wait for 11 days, and do not get any answer from wise. ((

It took around a month. Account closed mid December. Got refunded mid January.

 

[csp dubai]

is a well known tactic of wise freezing account and use the funds for getting interest , i just do not understand why belgium regulator is cracking on fraud like this ,is a fraud fraud everyone got acccount close should report to regulator or file a criminal complain for fruad

 

[anotherone]

FYI, In my case, Wise told me I could not use my personal wise account to cash in money from business activity.
I had to create a sole trader account.
However, the problem remains, I don't know what they will ask me next year as KYC/AML.
Since i am independent I had to justify 3 months of revenue.

 

[MessedUp]

FYI, In my case, Wise told me I could not use my personal wise account to cash in money from business activity.
I had to create a sole trader account.
However, the problem remains, I don't know what they will ask me next year as KYC/AML.
Since i am independent I had to justify 3 months of revenue.

You can create a Wise business account as a sole trader without having to provide business registration details, and then use this account for business-related activities. That's what I did. Regardless, I would advise against using Wise at all. For whatever reason, I'm still getting emails about my banned Wise biz account. Got me giggling last night, when they emailed me "Your money never looked this good". Scum.

 

[shizui04421]

Not true. Check eg. HK EMI's (Airwallex, Currexie, Statrys).


A big congratulation!

(BTW, if you search for a new banking, feel free to ask here for advice or help.)

Could you give me your telegram tag?

I have airwallex, i am using it as payment gateway, i also made an application for statrys and currenxie, currenxie has been since 21/03/2023 that they gave me only 1 reply, askin for business clarification and now we no longer received a reply, while for statrys we just made the videocall, in case we get denied from both banks, do you have any suggestion of another bank we could use?

 

[Forester]

Could you give me your telegram tag?

Sorry, I do not use Telegram... (but I have sent you a PM).

do you have any suggestion of another bank we could use?

Well, to be able to give you a reasonably-founded advice, please share
- where is your company incorporated (HK?)
- your citizenship
- your current residence country
- what is the business of your company
- what currencies you need to operate with
- what are the destinations of future outgoing and incoming payments
- what is the expected monthly and yearly turnover (summarized for all the currencies)
(Sorry for being so inquisitive but you will hear these questions from any bank/EMI nowadays.)

 

[expertsuraz]

My account is deactivated is there any way i can make business account and request to withdraw my funds there? Which bank you prefer? Online bank.

 

[Cons Mark]

Hi guys, hope all is well.

I'm going to start off by saying I messed up by keeping this amount of money in Wise, just so we have that cleared up.

A few days ago, my Wise Business account got deactivated, as I apparently have exceeded their risk tolerance. Funny, given I've passed these reviews with a larger balance in the past. But that's that.
In the process of requesting the funds sent to an external bank account, I've been requested to provide a business bank account, in the same business name as the name registered on Wise. Problem is, I'm a sole trader, operating under my legal name, NOT the business name (this was never an issue for Wise when I registered initially, by the way) hooked up to the Wise account.

Have any of you guys gone through the same? If so, how did it turn out, and did you have to provide a business bank account?

I'm keeping low 7 figures in this account, so it's safe to say I'm eager to get it out as soon as possible.

Additionally, if anyone has any recommendations for EMIs (or other solutions) who would support a "high risk" business model in the marketing industry, I'm all ears.

Thanks in advance, and Merry Christmas!

Mostly Wise is a very problematic, very common problem that you have raised here.

In terms of alternatives, the UK and Lithuania are hubs for EMI providers. You can find an alternative so quickly.

 

[expertsuraz]

I am not in europe what might work for me please help!

 

[Forester]

My account is deactivated is there any way i can make business account and request to withdraw my funds there? Which bank you prefer? Online bank.

I am not in europe what might work for me please help!

Well, share
- whether you need a company account or a sole trader / freelancer account
- if you need a company account, where is your company incorporated
- what is your citizenship
- what is your current residence country
- what is your business
- what currencies you need to operate with
- what are the destinations of future outgoing and incoming payments
- what is the expected monthly and yearly turnover (summarized for all the currencies)
(Sorry for being so inquisitive but you will hear these questions from any bank/EMI nowadays.) Otherwise you cannot expect a reasonably-founded advice

 

[koohl]

In terms of alternatives, the UK and Lithuania are hubs for EMI providers. You can find an alternative so quickly.

your nonsense and spam replies sucks.

Suggest a EMI's that is "so easy and quickly" to open an account with and that people here may use!

 

[csp dubai]

i know people with closed account in wise for 6 months , and thy still wait for the funds to be relesed .
wise is a very well organise fraud , they random block accounts to earn on interest rate this a fact not an opinion

 

[MessedUp]

Fascinating to see how many people are actually affected by the s**t Wise pulls. I guess I got lucky with how quickly they wrapped up my case and sent me my money. I'm now incorporated in Dubai, and opened an Emirates NBD bank account. Have had no issues so far, and their card benefits are awesome.

 

[expertsuraz]

Where did they sent your money? And was it big money? Wont you have problem withdrawing big amount in account of dubai?

Pls provide me process , i have 6 figures amount

 

[MessedUp]

Where did they sent your money? And was it big money? Wont you have problem withdrawing big amount in account of dubai?

Pls provide me process , i have 6 figures amount

They sent me the money to my personal bank account without issues. No issues dealing with large transfers with an Emirates NBD account. I had 7 figures in my closed Wise account. Good luck!