How much trust you put into wise?
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Not really a retail bank but I like Swissquote which is a broker. Account can be opened through video ident. They offer credit cards connected to the brokerage account though. Also IBAN for EUR. Support crypto trading, so friendly, haven't used it though. Multi-currency and astonishingly FX rates that are really close to midmarket, which as far as I can see is rare. I buy/sell alot of equity on ASX or TSX exchanges so for me that is a big plus. Fees could be lower so daytraders︀ probably want IBKR instead, but for anyone inside EU they have one big advantage: You︁ can buy equity or ETF in many markets without regard to Mifid2 restrictions. I.e. the︂ whole US universe is open for investing. If you are a EU citizen even IBKR︃ will cut you off if some fund doesn't have the proper EU-style document, which none︄ outside of EU have. Unless you qualify as what they call a "professional". Android app︅ also good. Even wrote a Linux script that consolidates their CSV export into EUR, obeying︆ the FIFO rule, deducting expenses correctly on partial transactions (Degiro and many others fails on︇ this), respect double taxation rules and deduct paid foreign tax accordingly, accounts for reverse-/splits etc.︈
OPs poll was about how much one trusts Wise with larger sums. Well I stuffed︉ quite the sum into SQ so that is my somewhat tangential answer. ;-)
OPs poll was about how much one trusts Wise with larger sums. Well I stuffed︉ quite the sum into SQ so that is my somewhat tangential answer. ;-)
I use them regularly and have done so for a couple of years
Never anything more than about 5K in any one transaction and strictly an in / out arrangement
I use them how they originally were set up - for cheap currency conversion and transfer
Only ever had one delay ( a day or so) at about the 2nd or 3rd transaction - questions asked - information provided and transfer resumed.
While i have no issue with them - I wouldn't "hold" with them
Never anything more than about 5K in any one transaction and strictly an in / out arrangement
I use them how they originally were set up - for cheap currency conversion and transfer
Only ever had one delay ( a day or so) at about the 2nd or 3rd transaction - questions asked - information provided and transfer resumed.
While i have no issue with them - I wouldn't "hold" with them
I've withdrawn money from my stock broker several time to Wise (each transaction under 10k) without issues, however I wouldn't feel comfortable receiving transactions of over 10k each as I know those transactions are classed differently. So far it's the most reliable EMI I've used. N26 & Revolut being the worst ones...Attach files
Yea for large amounts of funds that's definitely the way to go, keep the funds in USDC or PAXG in a cold wallet if not needed within a year. Ideally︀ stack the USDC and get something like a 5% APY.
Yea for large amounts of funds that's definitely the way to go, keep the funds in USDC or PAXG in a cold wallet if not needed within a year. Ideally︀ stack the USDC and get something like a 5% APY.
Do you mean mean a business account or a personal one?
If business, how can one buy groceries on a bussiness account?
If personal, how can one receive a salary on it?
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Everything everywhere in the worlds is a matter of when, not if. But if "when" is 10, 20 or 30 years,︀ or your lifetime, than it's not an issue.
If business, how can one buy groceries on a bussiness account?
If personal, how can one receive a salary on it?
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Everything everywhere in the worlds is a matter of when, not if. But if "when" is 10, 20 or 30 years,︀ or your lifetime, than it's not an issue.
it is wise not to trust any emi
we were fine until some unknown event unrelated to us caused a number of cancelled accounts and subsequent legal action. As to amounts, irrelevant but expect this to be just a normal retail emi whereby they rather have no money but charge fees, very much like the other low cost emi sh*t shows
we were fine until some unknown event unrelated to us caused a number of cancelled accounts and subsequent legal action. As to amounts, irrelevant but expect this to be just a normal retail emi whereby they rather have no money but charge fees, very much like the other low cost emi sh*t shows
A business account with wise will not last long. Unless the business is so small and simple that the monkeys working in their compliance department understand it.
To receive your salary on a wise account is the same︀ as to receive it on any bank account: just give your employer the wise account︁ number.
Right definition: sh*t shows. Only good for scamming︆ the investors that allowed those sh*t shows to start with their seed capital (or, better,︇ to launder their money).
To receive your salary on a wise account is the same︀ as to receive it on any bank account: just give your employer the wise account︁ number.
Right definition: sh*t shows. Only good for scamming︆ the investors that allowed those sh*t shows to start with their seed capital (or, better,︇ to launder their money).
Never more than €10k. Been using it for 2 years for a small Estonian company, no problems. All transactions below €20k, very dull business model.
I had more than 150k with them. Always used as single account for my company, never had any issues. I receive payments from 3-4 companies eah month, always the same companies, business is legal, I've sent them all the contracts with clients and stuff. I trust wise much more than revolut as wise is profitable and for me a solid/serious company.
^ I second the question above although this time with Paypal. If I withdraw from my own Paypal into Wise (personal account), do they consider this 'business income' and may start asking questions, or does it count as just wiring personal funds? Does anyone have experience with Paypal to Wise Personal?
Guys!
You do not choose how much money you can have on your Wise account.
Wise does. It depends on your country of residence.
Anyone living outside of the EU, here?
You do not choose how much money you can have on your Wise account.
Wise does. It depends on your country of residence.
Anyone living outside of the EU, here?
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