Wise business trading address

[aragon]

I agree, if business owners‍ have alternatives available to them they should prepare that and manage their finances defensively. When⁠ Wise works, it does work very well though. No subscription fees, low transaction fees, and⁤ an EU IBAN with access to many currencies in many jurisdictions. Few alternatives can match⁣ that.

In my case, this business trading address has been inconsequential for over 2 years⁢ now, and was the last time the business ever heard from Wise.

 

[intlman]

Agreed.

Funnily enough, I just‍ got asked by WISE for this yesterday. It was an account for a company I⁠ once had in Singapore (which has since been closed but I forgot to shutdown the⁤ WISE account).

As others have pointed out, I wouldn't be surprised if this is data⁣ that will be used to determine substance and/or permanent establishment at some point in the⁢ near future.

 

[MrGoodman]

Do you know whether a rental contract is enough to confirm the trading address or‌ Wise requires utility bills?

 

[intlman]

Yes, a rental contract should suffice.‍

 

[chisholmpaul947]

They prob send this only to directors with an IP address different from the company's‌ country of registration

 

[intlman]

Possibly.

Or they detect those who are‍ using PO boxes or other common (registered agent) addresses. Mine was using my old PO⁠ box in a shopping mall, so it was rather obvious rof/%

 

[diatessaron]

Which is stupid, because I will not‍ connect to a public IP address without a VPN.

 

[CrazyPanda]

Actually, using a VPN is stupid because it is‍ extremely easy to detect one. What you are looking for are residential proxies, but⁠ these are more complicated to use compared to VPNs and expensive.

 

[wozman]

I dont even work with USD account, so don't mind if they close it for‌ me.

Not even sure‍ they will ask for any supporting documents, might be case by case situation. Last year⁠ they asked me to updated my address, no docs were asked,

 

[JackAlabama]

no its not and many⁠ banks dont care about vpn usage at all. Id ditch all which do.

 

[diatessaron]

And? It will still add⁠ a layer of security to my connection which is the whole point of using it⁤ in public wifi.

 

[Sols]

VPN is usually only a problem for financial service providers like banks if you happen‌ to share IP address with someone they have banned recently, or if the IP address‍ is in a prohibited territory.

These days, people use VPN so much to get around⁠ geo restrictions on Netflix, Spotify, and whatnot. It used to be suspicious by itself, but⁤ not so much anymore.

 

[Redindiannight]

Hello @wazon
Hope you’re doing well ?
I’am also in the same situation like you︈ and I’m from Morocco if you are also from Morocco and have added your home︉ address or office addres as a trading addres please let me know to do it︊ ?

 

[aniglo22]

It's more about the AFS(anti-fraud-systems) which⁣ will directly flag you if you use a vpn.

 

[CrazyPanda]

They’re not stupid. You will most likely be flagged⁤ as high risk. I mistakenly connected to one of the EMIs using a VPN and⁣ received the email below after several months. This EMI is much smaller than Wise, meaning⁢ that WISE has much more advanced controls and checks.

 

[intlman]

What a joke.

You exercise some typical⁤ OPSEC and you get that from an EMI?

I'd tell them to go pound sand.⁣

 

[JackAlabama]

good candidate to be ditched then.
I use vpns exclusively on all my accounts and not one issue bc if one doesnt⁤ play ball, Id ditch em like a ehm I mean rowdy dog.
Gotta treat banks⁣ like underpants, a commodity and Im ready to throw one away if it has a⁢ hole or itches my pack and get a new one instantly.

 

[diatessaron]

And that makes no sense. During my⁤ time in finance I've seen more businesses fail because of what their compliance department came⁣ up with than any other reason. I'd suggest you stop using that EMI because I've⁢ used Wise with VPN on before and they never emailed me about it specifically. So︀ this smaller EMI is doomed to fail sooner or later, just like Bankera.

Back to︁ Wise, Wise has a bunch of monkeys in the compliance department but they're orangutangs so︂ flagging people for VPN's is above their IQ lvl for now.

 

[drolive0]

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...

 

[aniglo22]

https://jspaint.app/