How much trust you put into wise?

How much do you trust wise?

  • up to 10K euro I'm fine

    Votes: 48 47.5%
  • up to 30K euro I'm fine

    Votes: 27 26.7%
  • up to 100K euro I'm fine

    Votes: 11 10.9%
  • up to 250K euro I'm fine

    Votes: 15 14.9%

  • Total voters
    101
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void

Entrepreneur
People asking lots of questions about high amounts they want to trust Wise, now, I was wondering how much do you trust them?
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 :D
 
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JohnnyDoe

Mentor Group Gold
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.
 

Sols

Staff member
Mentor Group Gold
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.
 

aage

Offshore Agent
Mentor Group Gold
I see, you guys put a lot of trust into them. Personally I have in average 10K - 15K euro in there.
 

Risehigh

Active Member
Non at all, closed down at 0 (phone blocked also) no reply or reason lol
Edit: Didnt bother to ask why though
 

wellington

Entrepreneur
People asking lots of questions about high amounts they want to trust Wise, now, I was wondering how much do you trust them?
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.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
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.

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 ;).
 

JohnnyDoe

Mentor Group Gold
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 ;).
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.
 

flashbang

Active Member
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.

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...
 

MarkT

New member
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.
 

JohnnyDoe

Mentor Group Gold
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.
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.
 

daxbr

Entrepreneur
Have several but trust them with <$3k a month each and they have been happy with me for years.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
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 :(.
 
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boomy

Mentor Group Gold
Have several but trust them with <$3k a month each and they have been happy with me for years.
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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