Opened an account pretty easily (3-5 working days) with a minimum amount of documents and have been using the account since october 22 without any issues.
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Wio Bank officially launches in UAE
- Thread starter troubled soul
- Start date
Correct. Application was done end of September 2022. Process was nice and smooth. Seems like a headache now due to the addition of the USD
Normal Compliance I would say however if you have to run it via E-Mail with them - it's really cumbersome.
Opened a wio.io USD and aed account 3 weeks ago, did it all in-app on a Tuesday and had card and checkbook in hand a few days later on Friday. App was very smooth. The courier had to photograph my original physical company files, take usual thumb print etc but it was super easy. Transferred in 40k test AED and 10k test USD same friday the card arrived and was set live, AED was pretty much instant, USD arrived on the Tuesday. Tested card same Friday at a fab ATM, zero charges. Altogether seems a decent account.
No to Euro and as for daytraders sorry no idea although a test SwissQuote transfer was fine
Just check under "Business types we can’t support" and crypto trading is among them.
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Wio | Business
Wio helps you manage your finances and opens new paths so you can go further and grow your business.
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Sorry missed this - and what moonlighter says is spot on.
The important thing for me is it can hold USD and GBP. Use the card in Dubai for corporate spending in AED, the USD account to receive payments from a US LLC, and the GBP account to pay excess salary bonuses ect into uk-based ADCB Nomo or similar. Works great as a hub to receive and send.
I've read through the FAQ, but my question is not related to crypto trading. There is no trading. It's receiving a payment from an exchange. There's a difference.Just check under "Business types we can’t support" and crypto trading is among them.
Wio | Business
Wio helps you manage your finances and opens new paths so you can go further and grow your business.
Try explaining this to the monkey that will review your tx. I'd ask for explicit confirmation first.
Delighted. It is INFINITELY better than CBD's horrendous online biz banking abomination.
I’m also using Wio. I’ve used many banks in UAE and Wio is the best one of all. Haven’t got any single problem sending or receiving payments, they have very good and fast customer support via WhatsApp and their app works really good. It’s like a dream come true compared to the rest of banks in UAE which still work like the 90’s
I don't - my main personal account is with them for all my daily banking and it's phone app whilst not the best is certainly passable.
It's just the online iBusiness platform is ridiculously complex, glitchy and looks to have been put together by monkeys in 1992. Using it and setting permissions to do anything new the first time can be a days guesswork.
Ah, I understand your pain! I also had my share of troubles with their online banking and spent a lot of time setting it up initially.
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