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[WISE] Do they close business accounts based on owner info?

cer955

cer955

New member
Mar 9, 2021
40
8
8
EU
#1
Hello everyone,
I have a question.
I am in the process of opening a new company (USA LLC or UK LTD). I already own other companies and respective Wise accounts, but this business is going to be more risky than previous.
Is it possible that Wise, knowing I'm the owner of these companies, if they decide to close this new business account at some point, can they also close other business accounts managed by the same person?

I know it doesn't make sense, but I don't 100% trust knowing "they know it's me" - PayPal, for one, does not allow new accounts from the same owner, even if on different company name.

Thanks
 
#2
cer955 said:
Hello everyone,
I have a question.
I am in the process of opening a new company (USA LLC or UK LTD). I already own other companies and respective Wise accounts, but this business is going to be more risky than previous.
Is it possible that Wise, knowing I'm the owner of these companies, if they decide to close this new business account at some point, can they also close other business accounts managed by the same person?

I know it doesn't make sense, but I don't 100% trust knowing "they know it's me" - PayPal, for one, does not allow new accounts from the same owner, even if on different company name.

Thanks
Click to expand...
@OP whats the nature of business ?
Are your previous companies running concurrently on wise? and as such, whats the declared Director details? Yours or a nominee?
Are you receiving payments on wise from clients that are locally based or more inline globally?
 
#3
Hello,
The new one is crypto related, while others are digital product sales and consulting.
I don’t have a nominee and everything is on my name (Wise can easily connect me and all my companies I guess)
 
#4
I would ask Wise support to make sure you don't start something and later find your account frozen.
 
#5
cer955 said:
Hello,
The new one is crypto related, while others are digital product sales and consulting.
I don’t have a nominee and everything is on my name (Wise can easily connect me and all my companies I guess)
Click to expand...
Exactly, as you earlier stated having an LLC and an LTD that has been operational and still operational...highly likely, Wise has decent paper trail based on both companys,logs,TRX history etc as..cof%¤#
 
#6
VESTANON said:
@OP whats the nature of business ?
Are your previous companies running concurrently on wise? and as such, whats the declared Director details? Yours or a nominee?
Are you receiving payments on wise from clients that are locally based or more inline globally?
Click to expand...

That's not whay he asks about.
He asks - if one of his Wise accounts gets shut down, will it necessarily cause the domino effect in regards to the rest of his accounts?
 
#7
Yes they close the personal and the business accounts if they derisk you as a client. At least that was my experience when I tried to open an account in Wise for an offshore company and they didn't accept it, then they closed everything under my profile.
 
#8
use Advcash, no one is complaining about it ......!
wise sucks ..Revolut sucks , wirex sucks what else .. you get the picture ..all these EMIs the same basically at some point they will close your account even if your buz is legit ..they suspicious by nature.. meaning they will ask for a source of funds and other docs , once you reach a certain threshold ..
it's just a matter of time ..! and if you can't make sense of your funds ..then they will shut you down!
it's just funny these what's called themselves Regulated are actually the riskiest ones , instead of those who are less Regulated
with that being said ..
you can also check Bankera! they might be fine, They are crypto-friendly.​
 
Last edited:
#9
chaltron said:
Yes they close the personal and the business accounts if they derisk you as a client. At least that was my experience when I tried to open an account in Wise for an offshore company and they didn't accept it, then they closed everything under my profile.
Click to expand...
Did the same with me, until i emailed asking where my money was and who handled it for a lawsuit, then everything was re-activated, i just couldn't do a BVI company (asset holding company).
 
#14
I think this will slowly but surely become reality for all banks, as they cannot match the high-interest rates they had 20-30 years ago, so you can't accumulate money passively with banks. They charge you for every minor thing they do, they refuse to keep the pace with modern technology and are generally outdated. And, the crypto space in slowly but surely taking their profits and their general importance for society and it's starting to show, that's why I think the ''good ol' normal banks'' will do everything they can to prevent their customers from going into crypto or to make it as hard as possible to stay there.
 
#15
Singa said:
use Advcash, no one is complaining about it ......!
wise sucks ..Revolut sucks , wirex sucks what else .. you get the picture ..all these EMIs the same basically at some point they will close your account even if your buz is legit ..they suspicious by nature.. meaning they will ask for a source of funds and other docs , once you reach a certain threshold ..
it's just a matter of time ..! and if you can't make sense of your funds ..then they will shut you down!
it's just funny these what's called themselves Regulated are actually the riskiest ones , instead of those who are less Regulated
with that being said ..
you can also check Bankera! they might be fine, They are crypto-friendly.​
Click to expand...
Hi
but for LLC USA advcash doesn't works
 
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