Alternative to Transferwise / Wise

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MasterMalik

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Hello all,

Wise has unfortunately been causing significant problems lately. Accounts are constantly being blocked or transactions are being queried, which is just completely annoying. Has anyone already found an alternative to Wise (Transferwise)?

Revolut, Payeer etc. are all rubbish too, we're not looking for them.
 
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MasterMalik said:
Hello all,

Wise has unfortunately been causing significant problems lately. Accounts are constantly being blocked or transactions are being queried, which is just completely annoying. Has anyone already found an alternative to Wise (Transferwise)?

Revolut, Payeer etc. are all rubbish too, we're not looking for them.
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Did your account get blocked? I haven’t experienced this.
 
Still searching:)

averstance said:
Did your account get blocked? I haven’t experienced this.
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Yes. Instantly after paying in money. I didnt even send a transaction, they blocked it. On some other accounts, they blocked it at the first transactions. The Amounts are 10K and more
 
MasterMalik said:
Still searching:)



Yes. Instantly after paying in money. I didnt even send a transaction, they blocked it. On some other accounts, they blocked it at the first transactions. The Amounts are 10K and more
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It's not like they block your account because of some bullshit, if you're sending over $10k (which is considered to be a substantial amount in most jurisdictions) you're to expect to be asked questions. I've had different experiences with them, sometimes their KYC process was smooth, sometimes it wasn't. I think they pay extra attention to high-risk countries. Try to give them whatever info they need because they're really good at what they do and once you pass the initial KYC you won't have any problems for at least a year.
 
0xxi3 said:
It's not like they block your account because of some bullshit, if you're sending over $10k (which is considered to be a substantial amount in most jurisdictions) you're to expect to be asked questions. I've had different experiences with them, sometimes their KYC process was smooth, sometimes it wasn't. I think they pay extra attention to high-risk countries. Try to give them whatever info they need because they're really good at what they do and once you pass the initial KYC you won't have any problems for at least a year.
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I would really appreciate it if Bank Wise would ask me questions so that I can then submit the documents. But they usually don't do that and close the account with the first outgoing transfer. Either the recipient is apparently blacklisted or there are other factors that the bank pays attention to.
 
How old is your Wise account and what's the average amount of transaction and from where to where? mostly above $5000 USD they don't make instant transfer. You can use XRP if you wanted to route in crypto.
 
Unfortunately is not only Wise. All eMoney institutions will be the same sooner or later and not because they choose to but because they're forced.

Starting Jan 1st,2024, all eMoney institutions will be required by the new EU tax directive to report all transactions to local authorities to combat vat and tax evasion.

Wise and others are just warming up I guess...
 
Hostinghunt said:
How old is your Wise account and what's the average amount of transaction and from where to where? mostly above $5000 USD they don't make instant transfer. You can use XRP if you wanted to route in crypto.
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what do you mean , wise accept crypto , or how to use XRP with wires
 
Affiliate3750 said:
what do you mean , wise accept crypto , or how to use XRP with wires
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I meant to say, transfer with Wise if the amount is lesser. but if the amount is bigger you can load the currency to XRP to XRP and withdraw from the local crypto to bank wallet.
 
OP is banned.

Thread closed.
 
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