It would be a very bad idea to close a Mercury account to use Wise. Wise have a long history of closing accounts seemingly randomly and no reason (for example maybe you accidentally receive money from somebody who is blacklisted by Wise). It's way better to have 2 accounts than zero accounts.
Mercury Rejected me.. Alternative?
- Thread starter Ciropollo
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I agree. insured accounts is always better.
No, it's more complex than that. they do not close accounts for "no reason", in your example, the blacklisted individual/company could be the same company that opened another account, and they know that by IP address, company/info. Plus︀ they have other algorithms that exist in place that figure these things out, If this︁ said individual/company has no relation to the other wise account, and you provided them with︂ proofs that this was just 1 in 100s of your clients who happens to be︃ a blacklisted person, they will un-freeze your account and you are back to business.
I know this because I maxed out my Wise accounts before, and I didn't receive any︄ issues (other than few tickets here and there and that's it).
Sometimes I wonder how︅ people got their account frozen for "no reason", because Wise is one of the few︆ challenger banks that are solid and get the job done. There is always a part︇ that is missing/left out in these "frozen" accounts stories.
No, it's more complex than that. they do not close accounts for "no reason", in your example, the blacklisted individual/company could be the same company that opened another account, and they know that by IP address, company/info. Plus︀ they have other algorithms that exist in place that figure these things out, If this︁ said individual/company has no relation to the other wise account, and you provided them with︂ proofs that this was just 1 in 100s of your clients who happens to be︃ a blacklisted person, they will un-freeze your account and you are back to business.
I know this because I maxed out my Wise accounts before, and I didn't receive any︄ issues (other than few tickets here and there and that's it).
Sometimes I wonder how︅ people got their account frozen for "no reason", because Wise is one of the few︆ challenger banks that are solid and get the job done. There is always a part︇ that is missing/left out in these "frozen" accounts stories.
Well, something changed.. I sent more information, and they got me approved, so really good. The︅ only thing I worry is what you said "about them investigating on from where funds︆ came".
Well I did a skim that looks solid but still wondering if all will︇ go good. Main issue is that my clients are from EU and they would like︈ to pay with Eur currency. So I signed on stripe, used a dummy website that︉ i use only for payment because my business maybe considered from them as high risk,︊ so for avoid any risk i used a dummy website.
So stripe converts automatically payment︋ in euro to > usd and later they go to mercury. In theory, Mercury shouldn't︌ wonder something as long payment are coming from stripe.. I think.
What is your experience︍ about it?
Besides.. if a client from EU want to make a payment to me︎ (in USD) is suggested to give mercury international IBAN or better to avoid such risk?️
Thanks for your support
Well I did a skim that looks solid but still wondering if all will︇ go good. Main issue is that my clients are from EU and they would like︈ to pay with Eur currency. So I signed on stripe, used a dummy website that︉ i use only for payment because my business maybe considered from them as high risk,︊ so for avoid any risk i used a dummy website.
So stripe converts automatically payment︋ in euro to > usd and later they go to mercury. In theory, Mercury shouldn't︌ wonder something as long payment are coming from stripe.. I think.
What is your experience︍ about it?
Besides.. if a client from EU want to make a payment to me︎ (in USD) is suggested to give mercury international IBAN or better to avoid such risk?️
Thanks for your support
Not for US LLCs. At least not for now. Luckily it is on their roadmap under ‘later’. Hoping it will be soon!
No, nothing! That’s why I wanted to a Mercury account in the first place as I need a debit card to pay my bills.
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