How much trust you put into wise?

[JohnnyDoe]

You don’t have freedom to choose anything on Wise. You are in the hands of the psycho monkeys in their compliance department. Your account can be closed/frozen at any time, irrespective of how you use it, how much money you move, your balance, your DD documents etc.

 

[maxmoney]

I communicate a lot with Wise. It feels so far very good, for some reasons I'm at the moment bound to have aprox 100K in the account!!

 

[bastard]

MAx 10K - not into any games for more.

 

[extremedox101]

stop trusting it like a bank , even bank should not be trusted ultimately .

people still naive after all

 

[uplana]

30 - 40K is no problem for me with Wise!

 

[bastard]

stop trusting it like a bank , even bank should not be trusted ultimately .

people still naive after all

true but you need to trust Wise at some point if you leave your money with them, otherwise you should not use this EMI at all!

 

[extremedox101]

true but you need to trust Wise at some point if you leave your money with them, otherwise you should not use this EMI at all!

i definitely use emi's . but i don't store money in them , this trust leave you vulnerable (u are alone) and u cant predict emi's at any time that what im saying because u are not backed up with protection to free the money u are merely a client who floats on risks .

 

[bizman]

Guys!
You do not choose how much money you can have on your Wise account.
Wise does. It depends on your country of residence.
Anyone living outside of the EU, here?

what's your experience in regards to limits to store with Wise?

 

[nobel]

From 15K€ WISE charges minus 0,5% interest. So i am always under 15K.

 

[Sols]

From 15K€ WISE charges minus 0,5% interest. So i am always under 15K.

70,000 for business accounts.

This is from the ECB. Other banks/EMIs that don't charge it make up for it through other fees. It's a cost everyone has to deal with.

 

[nobel]

70,000 for business accounts.

This is from the ECB. Other banks/EMIs that don't charge it make up for it through other fees. It's a cost everyone has to deal with.

I don't like paying 0,5% minus. There are enough alternatives.

 

[James Spader]

This is from the ECB. Other banks/EMIs that don't charge it make up for it through other fees. It's a cost everyone has to deal with.

I was not aware of this. Maybe I should read their Terms and Conditions including their tariff's

 

[nobel]

I was not aware of this. Maybe I should read their Terms and Conditions including their tariff's

Here: Wise account pricing: What are the fees? ok it´s 0,40%

 

[bountymounty]

better not more than 10K with any EMI!

 

[hostingtech]

Is it less trustfull then other banks ?.. I think it's on the same level ...

 

[James Spader]

Is it less trustfull then other banks ?.. I think it's on the same level ...

I totally agree with you. There is no difference from Wise and other Neobanks, EMI's nor real banks.

 

[karishi]

I totally agree with you. There is no difference from Wise and other Neobanks, EMI's nor real banks.

Not true. Wise is a lot more serious than other EMIs, you can see it from how they do KYC and how they do stuff. Wise is a profitable company, which makes it a lot more solid than other companies which lose money, like revolut. For me between the EMIs is by far the safest option and the only one I trust with certain amount of money

 

[JohnnyDoe]

Not true. Wise is a lot more serious than other EMIs, you can see it from how they do KYC and how they do stuff. Wise is a profitable company, which makes it a lot more solid than other companies which lose money, like revolut. For me between the EMIs is by far the safest option and the only one I trust with certain amount of money

…until they freeze your money and close the account

 

[karishi]

…until they freeze your money and close the account

with me they only did KYC every year in a serious way. Of course with Wise anything which is not 100% legal will not work, while revolut might be more tolerant, which doesn't increase my trust about Revolut. As with every other things, it all depends on lots of factors, I have a high risk setup ( San Vincent and the Grenadines IBC then LLC ) but with a 100% legit business, I have contracts with big clients from UK, US, France and never ever put any money of my own into the company, I sent them all the contracts which justify every penny that came into the account. Had to be creative in explaining why some money was going out of the account to my mother bu sorted that out, will be more precise in the future

 

[csp dubai]

wise block randomly your accounts, or start ask silly questions, they credit your accoount first than after 6 mountht hey ask source of funds, this trend will increase now that central bank start have positive bank rate, is like to put dracula in the blood bank, i would not trust them for more than 5000 k