How much trust you put into wise?
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I personally trust them quite a lot but holding only tens of thousands for operative purposes
my friend once held 350k for real estate deal - no problems whatsoever
and I'm sure there are people with balances of 7 figures which I wouldn't do 😀
Last edited: Jan 3, 2022
Wise will not steal your money, but will eventually close your account. It's just a matter of when, not if. That is unless you use it for receiving your monthly salary and paying for groceries, in which case there is a chance it will not happen.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Six and seven figures ”” no problem for transferring funds through. I do and see it all the time. Just make sure what you do is completely legal, fully in line with their AUP, and that you have supporting docs (invoices, agreements) for everything.
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This is the probably the answer to your question.
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This is the probably the answer to your question.
Have no issue with them up to 30K
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
Had 7 figs in there without issues, when i tried to set up a company account (BVI) they closed my personal and New BVI company going through verification, after emailing them, it was re-opened immediately but could not have the newly created BVI corp on there.
That's the key with Wise. Nice single monthly payments and you be fine. Multiple payment from multiple sources especially in USD then one day you will get that tap on the shoulder.....lol.
For business accounts keep it very simple. You got multiple sources of income then use multiple EMI's i.e one for each source and you will be fine long term 😉.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
True: the best use of Wise is if you work 9-5, receive your salary and use the money to buy groceries. Anything more complex than this and your accounts will be closed. And of course, you will be asked to provide supporting documents for the legitimacy of your salary and of your groceries purchases.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I have been dealing with Wise for over 8 years and never had that problem.
I store €150k on my account and make transfers of €50k - never had a single problem whatsoever...
I voted "up to 10k" because I have read their AUP and while everything is plain and clear, I am only one transfer from the wrong source away from account closure and months of anger. It's the best EMI for sure but at the end of the day it is only another computer with a large laundry list of compliance rules.
For larger sums even >5k I prefer Switzerland. Good judicial recourse over disputes. Banking nation. Not that I have any bitcoins or other coins but I like their liberal stance on it. No privacy for decades but all in all they have a ton of trust to lose.
For larger sums even >5k I prefer Switzerland. Good judicial recourse over disputes. Banking nation. Not that I have any bitcoins or other coins but I like their liberal stance on it. No privacy for decades but all in all they have a ton of trust to lose.
Unfortunately Switzerland already lost also the little trust they had left. The judiciary is as slow as in any other country, and the people left working in the banks are those who couldn't find a better job or prefer that to a janitor position.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
lol...just looking at the voting. They are one of the most trusted EMI's out there and they still get most people here voting for up to 10k 🙁.
Last edited: Jan 5, 2022
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Last edited: Jan 5, 2022
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
how many years have you been using them? how is the payment stream, many different inward payments or always from the same person?
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