Based in EU I need to receive US Dollars from Georgia (Georgia the ex URSS country not the American state), it turns out Wise doesn't accept USD from Georgia, can you suggest another EMI that can accept USD on a personal account? Not a huge amount, less than 50K, legitimate money from a sale of a property, I'm not convinced by Revolut and was looking into Bankera, any other valid options for this transaction (and since I have to open a new account, for similar future multi-currency transaction too)? Thanks.
Receiving USD from Georgia, which EMI/bank to use?
- Thread starter Sean Restling
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Better you send Eur. Blackcatcard is fine. Alternatively Currenxie might be able to receive USD.
Note that this limitation is just about receiving US-Dollar.︀ If you are fine with receiving these USD into your CHF-"jar" then there will be︁ no problem.
Procedure: You prepare the receiving instruction on your side in CHF, sender sends︂ his US-Dollar to your CHF-"jar", once US-Dollar arrive at Wise they wil be converted immediately︃ and before any US-Dollar touches your account, then the converted amount (converted by Wise) will︄ be automatically credited to your CHF-"jar". The same applies to any other "jar".
From there︅ on you are free to choose to either convert everything back to USD or into︆ any other currency available in the Wise Multi Currency account.
Well, and that is the︇ beautiful world of fiat: Restrictions, limitation, sanctions ... - all total nonsense!
Procedure: You prepare the receiving instruction on your side in CHF, sender sends︂ his US-Dollar to your CHF-"jar", once US-Dollar arrive at Wise they wil be converted immediately︃ and before any US-Dollar touches your account, then the converted amount (converted by Wise) will︄ be automatically credited to your CHF-"jar". The same applies to any other "jar".
From there︅ on you are free to choose to either convert everything back to USD or into︆ any other currency available in the Wise Multi Currency account.
Well, and that is the︇ beautiful world of fiat: Restrictions, limitation, sanctions ... - all total nonsense!
Some sort of hip language used by the marketing department of TransferWise: If you hold anything beside the major currencies (EUR, USD, GBP and the like) you will not get an IBAN or any other local account number for it. Instead, such a non-standard currency will be given a so-called "jars", a sort of sub-account without any specific account details. CHF is one example: Even if you hold CHF with Wise you do not have a CHF account number. That means it is completely uninteresting to use Wise for a domestic CHF transfer since it︀ would be to expensive.
If you have a SWIFT code, you can receive USD from these countries:
- Australia
- Austria
- Belgium
- Bulgaria
- Canada
- China
- Croatia
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Gibraltar
- Guernsey
- Greece
- Hong Kong
- Hungary
- Iceland
- India
- Ireland
- Isle of Man
- Italy
- Japan
- Jersey
- Latvia
- Liechtenstein
- Luxembourg
- Malta
- Macau
- Netherlands
- New Zealand
- Norway
- Philippines
- Poland
- Portugal
- Romania
- Singapore
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- Taiwan
- UK
- United Arab Emirates.
Who provided these instructions?︂ Wise gave them? I wonder why they wouldn't suggest this instead of refusing the transaction,︃ which cost us 150USD. Given our experience, unless Wise specifically tells us to follow this︄ procedure I woulldn't risk sending another USD ransfer from Georgia, it was a waste of︅ time and money.
They refused the transaction because you initiated it before doing proper due diligence.
Take yourself 5 minutes, use the chat function of Wise, contact an agent and ask the right question.
Take yourself 5 minutes, use the chat function of Wise, contact an agent and ask the right question.
When my wise account was closed I did exactly that: contacted support, prepared documents, received confirmation. Then, money arrived and account was closed. clow#¤%
Was that a private account? Did they close it because you followed the same the procedure I described??
The limitation is only that you can not RECEIVE US-Dollar from Georgia. You can, however, receive e.g. CHF into tye appropriate jar.
I followed the procedure a couple of times - never had any problems. Last time about a year ago. Of course, private account with small amounts (would never use Wise for anything larger than low four-figure amounts)︀
The limitation is only that you can not RECEIVE US-Dollar from Georgia. You can, however, receive e.g. CHF into tye appropriate jar.
I followed the procedure a couple of times - never had any problems. Last time about a year ago. Of course, private account with small amounts (would never use Wise for anything larger than low four-figure amounts)︀
Corporate account. Followed all the procedures and rules. I think I posted a thread about it here.
As stated above, mine was a personal Wise account (Georgia). And I enquired before each transaction, told them the exact amount (which was just a few hundred Dollars) and once I received their o.k. I proceeded. No problem at all.
Since it is already a year ago since I last used this procedure, I looked it up again:
I "added" CHF 900.- to my CHF-balance by "paying" with USD. The "payment" was done from my personal Georgian bank account (official resident acc.!) via SWIFT.
I told the chat agent that the reason︀ for this procedure is to avoid having USD arriving in my personal Wise account because︁ these USD are coming from Georgia and Wise does not credit USD from Georgian bank︂ accounts. Therefore, I would like to convert the USD directly into CHF by using the︃ "add balance" function.
The Wise chat agent accepted the question, apologized to not being able︄ to answer my question immediately and asked me to wait about two days for a︅ reply by email. Already the following morning I received a reply by email which confirmed︆ that my planned procedure was perfectly fine and that I should proceed: ".... You︇ can pay-in USD even when the money is coming through SWIFT from Georgia. Once the︈ money reaches us we'll add it to your CHF balance. ...."
I did that︉ and the USD where credited as CHF to my CHF-jar.
Understand that all this only︊ works through the "add"- + "paying"-function. I suggest you contact Wise︋ for further information. They are very responsive.
Since it is already a year ago since I last used this procedure, I looked it up again:
I "added" CHF 900.- to my CHF-balance by "paying" with USD. The "payment" was done from my personal Georgian bank account (official resident acc.!) via SWIFT.
I told the chat agent that the reason︀ for this procedure is to avoid having USD arriving in my personal Wise account because︁ these USD are coming from Georgia and Wise does not credit USD from Georgian bank︂ accounts. Therefore, I would like to convert the USD directly into CHF by using the︃ "add balance" function.
The Wise chat agent accepted the question, apologized to not being able︄ to answer my question immediately and asked me to wait about two days for a︅ reply by email. Already the following morning I received a reply by email which confirmed︆ that my planned procedure was perfectly fine and that I should proceed: ".... You︇ can pay-in USD even when the money is coming through SWIFT from Georgia. Once the︈ money reaches us we'll add it to your CHF balance. ...."
I did that︉ and the USD where credited as CHF to my CHF-jar.
Understand that all this only︊ works through the "add"- + "paying"-function. I suggest you contact Wise︋ for further information. They are very responsive.
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