Are affiliate payments banned for a Wise personal account?
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The truth is there's no single, simple answer.
A lot depends on amounts involved and type of affiliation, as well as jurisdictions involved (your residence/nationality and where the money comes from).
If the affiliate agreement is between you (the human) and someone else, it's usually fine up to a degree. When it stops being small enough to just be a little bit of personal side income, any financial institution may stop it and insist that you open a business account instead.
If you're running ecommerce shopping comparison websites and get commission from Amazon, Shopify, and some merchants, a few hundred to even a few thousand︀ EUR/equivalent per month is probably fine. But if it's high-risk affiliation (gambling, forex, nutra/pharma, adult),︁ questions may arise at lower amounts.
A lot depends on amounts involved and type of affiliation, as well as jurisdictions involved (your residence/nationality and where the money comes from).
If the affiliate agreement is between you (the human) and someone else, it's usually fine up to a degree. When it stops being small enough to just be a little bit of personal side income, any financial institution may stop it and insist that you open a business account instead.
If you're running ecommerce shopping comparison websites and get commission from Amazon, Shopify, and some merchants, a few hundred to even a few thousand︀ EUR/equivalent per month is probably fine. But if it's high-risk affiliation (gambling, forex, nutra/pharma, adult),︁ questions may arise at lower amounts.
I think it depends on the type of affiliate income. From my experience it is no problem to receive affiliate income in private accounts by Bank’s/emi’s. Even for higher amounts. But as mentioned before crypto, adult, casino ect is a different story. Same for offshore affiliate companies.
You may consult Wise before you do such transactions with them. If it is adult affiliate payment you are doing I'm sure they are banned. Get in touch with them, most often they reply quickly.
So people here can confirm that in their experience receiving thousands of dollars in affiliate payments into your personal Wise account is no problem (as long as it's not a gray area affiliation like gambling or P**N)? Wise doesn't contact you about it at all?
I'm also seeing this article on the Wise blog:
Can I Use My Personal Bank Account For Business?
Which clearly says you can use your personal account for business transactions, 'although it's messy and not recommended, it's still allowed' (paraphrased).
How come so many horror stories about doing exactly that and getting shut down?
Can I Use My Personal Bank Account For Business?
Which clearly says you can use your personal account for business transactions, 'although it's messy and not recommended, it's still allowed' (paraphrased).
How come so many horror stories about doing exactly that and getting shut down?
Wise they trick you then by saying it is fine and its ok but then they block your account suddenly with no reason
They all said the same as you said
Few search and you will find that some got approval for the income wire then wise closed their accounts for no reason even after providing them all the requested documents and invoices and after few weeks up to few months they reply by ( We decided to close your account )
Few search and you will find that some got approval for the income wire then wise closed their accounts for no reason even after providing them all the requested documents and invoices and after few weeks up to few months they reply by ( We decided to close your account )
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