Wise fully shuts-down its Business debit card for U.S. businesses

[reviac]

I'm sure many of you have gotten the email about Wise shutting down their business debit card by October 31, 2023. Very disappointed as a honest business owner!

Does anybody knows the reasons behind this?

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[12345]

Damn
Just the physical cards are being shut down or virtual as well ?

 

[JohnnyDoe]

That's what you get with wise”¦ and more poo¤%&&

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[Frankie]

Wise also recently changed their USD wire conditions so you can't do "further credit to" and can't fund brokerage account using Wise.
Their usefullness drops with every passing day.

 

[JohnLocke]

They slowly get troubles with all US involved services. It's a shame.

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[yngmind]

Flying to the US and opening a personal and business account there seems the best option.

All those crap EMI's only make problems.

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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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Business Bank Account for your US LLC Remotely

 

[magnolia]

Frankie said:
Wise also recently changed their USD wire conditions so you can't do "further credit to" and can't fund brokerage account using Wise.
Their usefullness drops with every passing day.
Click to expand...

Does this mean, you cannot deposit money to platforms like eToro via SEPA transfers as well?

 

[Alexmorgan]

yngmind said:
Flying to the US and opening a personal and business account there seems the best option.

All those crap EMI's only make problems.
Click to expand...

I wanna say that US EMIs are in trouble due to the banks they work with

Mercury is great EMI but sounds like they are going through some new regulations that the banks facing

 

[12345]

yngmind said:
Flying to the US and opening a personal and business account there seems the best option.

All those crap EMI's only make problems.
Click to expand...

How easy is it ? Any bank that you recommend for non us residents? Travelling to the US in a few days and will try to open an account for my USA LLC, I will be visiting branches in NYC
Unfortunately I do not have the ITIN.

 

[captainnemo]

yngmind said:
Flying to the US and opening a personal and business account there seems the best option.
Click to expand...

Whats the second best?

I have ITIN and EIN.

 

[mad1max]

Does it make sense to open your company in New Mexico and then open a bank account in a Miami or New York branch? I wonder if that can make problems as well.

 

[12345]

mad1max said:
Does it make sense to open your company in New Mexico and then open a bank account in a Miami or New York branch? I wonder if that can make problems as well.
Click to expand...

No from what I have heard it should be no problem to open a bank account in a different state

 

[latindev]

mad1max said:
Does it make sense to open your company in New Mexico and then open a bank account in a Miami or New York branch? I wonder if that can make problems as well.
Click to expand...

12345 said:
No from what I have heard it should be no problem to open a bank account in a different state
Click to expand...

It does make a difference, some banks wont take it but if you shop around and go in person you will find one

 

[yngmind]

It's also interesting what the IRS will think about the real US bank account. They can say you have nexus in the US, so you're liable to taxes.

I don't have experience with US banks, but I think the process is straightforward, and you can get your business bank account.

But I would contact the banks first, get their approval, then fly to the US.

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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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Business Bank Account for your US LLC Remotely