Wise and Currenxie asking for info

[Giorgiogori]

Hi,

Wise just emailed me asking for the upload of ID and selfie for my personal account already verified in 2016, could be it is just
their policy to recertify identities every once in a while but ...

Currenxie sent the following email:

Is something changing for these EMIs supposedly not exchanging?

 

[Martin Everson]

If your in EU then it sounds like EU DAC7 tax reporting which starts 31st Jan 2024 for Marketplaces for reporting year 2023. All Marketplaces have to comply.

https://www.vatcalc.com/eu/eu-dac-7-marketplaces-seller-transaction-reporting-jan-2023/

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Forester]

Giorgiogori said:
Hi,

Wise just emailed me asking for the upload of ID and selfie for my personal account already verified in 2016, could be it is just
their policy to recertify identities every once in a while but ...

Currenxie sent the following email:

View attachment 5756
View attachment 5757

Is something changing for these EMIs supposedly not exchanging?
Click to expand...

Martin Everson said:
If your in EU then it sounds like EU DAC7 tax reporting which starts 31st Jan 2024 for Marketplaces for reporting year 2023. All Marketplaces have to comply.

https://www.vatcalc.com/eu/eu-dac-7-marketplaces-seller-transaction-reporting-jan-2023/
Click to expand...

Yes, this explanation I see as very reasonable, although it can be just a routine re-check as well (Wise is not very well predictable IMO).

Giorgiogori said:
Currenxie sent the following email:

View attachment 5756
View attachment 5757
Click to expand...

This I see as an another game.
Currenxie sent this message probably to all users, at least also to users that do not trade with Amazon.
And I am reading it in such a way that Amazon does probably want to deal only with subjects having accounts with street banks, not with neobanks and/or EMIs ”“ for the future.
(To explain: “the beneficiary bank account currently saved in your Currenxie Global Account” concerns the fact that Currenxie wants every customer to have some another bank account ”“ with traditional bank, neobank or EMI, it does not matter ”“ that is recorded in their files for the case of your Currenxie account suspension as the place for sending funds. Note: Currenxie does not suspend accounts for nothing, TBMK.)

So it's probably an interesting information for Amazon sellers... (?)

Giorgiogori said:
Is something changing for these EMIs supposedly not exchanging?
Click to expand...

With Wise ”“ may be; for Currenxie I do not see the reason.
BUT:
If the institution is located in an AEOI/CRS country (both are), DO NOT rely on fact that it does not contribute to CRS. At least, it can start anytime without notification.

Last edited: Dec 10, 2023
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[Giorgiogori]

Thanks to everybody

 

[cyprusbanker]

Have gone through the same with Wise, nothing to worry about.

 

[Steve3000]

Forester said:
Yes, this explanation I see as very reasonable, although it can be just a routine re-check as well (Wise is not very well predictable IMO).


This I see as an another game.
Currenxie sent this message probably to all users, at least also to users that do not trade with Amazon.
And I am reading it in such a way that Amazon does probably want to deal only with subjects having accounts with street banks, not with neobanks and/or EMIs ”“ for the future.
(To explain: “the beneficiary bank account currently saved in your Currenxie Global Account” concerns the fact that Currenxie wants every customer to have some another bank account ”“ with traditional bank, neobank or EMI, it does not matter ”“ that is recorded in their files for the case of your Currenxie account suspension as the place for sending funds. Note: Currenxie does not suspend accounts for nothing, TBMK.)

So it's probably an interesting information for Amazon sellers... (?)


With Wise ”“ may be; for Currenxie I do not see the reason.
BUT:
If the institution is located in an AEOI/CRS country (both are), DO NOT rely on fact that it does not contribute to CRS. At least, it can start anytime without notification.
Click to expand...

And I am reading it in such a way that Amazon does probably want to deal only with subjects having accounts with street banks, not with neobanks and/or EMIs ”“ for the future.
Click to expand...

I use Amazon with 10 neobanks, so I don't think that's a problem!

 

[koohl]

I have contacted all EMI that we use in our daily operations and through which we expect a relatively large turnover. Generally, we hardly receive any questions, and when we do, they are often resolved within a few minutes.

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My Journey to successful card processing for Replica, IPTV, Adult and Gaming business.
I keep my journey in the closed forums in Mentor Group for less saturating methods.
Please understand that I don't sell any services or do consultancy, you don't need to contact me about that!

 

[Forester]

Steve3000 said:
I use Amazon with 10 neobanks, so I don't think that's a problem!
Click to expand...

Good for you! 🙂
But if something changes in the future (Amazon is a really big monster so all changes are invocated gradually, I guess), your feedback here will be greatly appreciated...

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...