Wise: unable to provide multi currency account for businesses in Hong Kong

[silvester2]

Wise informed me today: "Please note that due to regulations we are unable to provide‌ multi currency account for businesses in Hong Kong. This means, that we cannot provide to‍ you a bank account with IBN, you cannot hold or receive money on your business⁠ account."

Can someone recommend an EMI which supports Hong Kong Ltd., IBAN, direct debit (Lastschrift)?⁤

 

[KDX]

Wow, did they give any reasoning as to why they couldn't do that? I would‌ like to know if this is a recent development or if this has always been‍ the case with Wise? Pretty weird considering HK is a pretty good jurisdiction from what⁠ I know?

 

[silvester2]

https://wise.com/help/articles/2813542/why-cant-i-open-a-balance

 

[fredouille1973]

no licence in HK, simple