TransferWise no questions asked

[Geordiexile]

Xsars sums this up very well, they do the further compliance checks down the road as we found out to our cost.....if they don't like it, rather than question, lock the account up for 60 days, no messing about. We've currently a 6 figure sum locked with them, all legit and compliant but they seem to have gone the same way as Revolut. To be avoided if moving decent volumes

 

[StuartG]

If you are legitimate you will have no problems with TW

 

[kkein]

Martin Everson said:
Xzars summed it up. You get suckered in with TW and later when they see volume and activity then comes the questions, issues and freezes. Generally speaking with a clean business with TW you will be fine.

@NicolasMaduro When you say other EMI's can you name names? Are these EMI's that have had their wrists slapped in the past by regulators? Or over zealous Eastern European laundromats?
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What kind of questions do they usually come up with? Do they want to see contracts? Or what do they need?

 

[Martin Everson]

kkein said:
What kind of questions do they usually come up with? Do they want to see contracts? Or what do they need?
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Totally depends on case and situation.

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

 

[kkein]

If a UBO opens TW account, but on registrar papers there is a nominee director/representative, will they freeze accounts? will it be enough to provide declaration of trust document? or it will be simply violating their guidelines and they will freeze?
Asking because in the account creation process they are actually not asking much, just company name and person name without really specifying what person.

 

[JohnLocke]

StuartG said:
If you are legitimate you will have no problems with TW
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Martin Everson said:
Totally depends on case and situation.
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I second both... it all depends on where you live and what business you are into. Some of us around had their account approved with less documents and within hours while others got declined or at least struggle to provider anything useful.

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