Wio Bank officially launches in UAE
Wio Bank PJSC has announced its official launch in the UAE, becoming the first platform bank in the region, aiming to transform banking operating models to..
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As far as I know, It is only for AEDDo they provide multi-currency account account or only AED?
Only AED.Do they provide multi-currency account account or only AED?
Im not sure how low their risk apetite is - I opened a Gold Trading activity with them without a single question asked, where other banks said no from the offOnly AED.
However it's at least something while there was earlier nothing - they have of course low risk appetite and it's more a bit of an EMI kind of acting from there side - the whole outgoing transfers are made through Wise - so it's equal to Bunq for example.
1% flat + FX for outgoing comes heavy especially when having some decent volume.
not bad, what's to complain here?Im not sure how low their risk apetite is - I opened a Gold Trading activity with them without a single question asked, where other banks said no from the off
Im not sure how low their risk apetite is - I opened a Gold Trading activity with them without a single question asked, where other banks said no from the off
Is that the case with them?Hopefully they will introduce multi-currency accounts.
Having just AED means nothing as you can't accept money from outside in USD/EUR but it's nice to have an option like this.
Exactly - that's the case - CITIBANK is the AED IN correspondence and for outgoing SWIFT they use WISE.Is that the case with them?
It could also mean just everything being autoconverted into aed...
Yes, I walked in City branch in UAE and they tried to explain me how their foreign currency thing works - and it made absolutely no sense.Exactly - that's the case - CITIBANK is the AED IN correspondence and for outgoing SWIFT they use WISE.
It's not fully fledged Bank but for some Guys well they don't have any other option.
Again - it's AED IN International with the downside of auto conversion like @JackAlabama said - it's not only local AED within UAE.Yes, I walked in City branch in UAE and they tried to explain me how their foreign currency thing works - and it made absolutely no sense.
So, if Wio uses City - than it's goof for AED only (and will mostly be useful to mainland companies)
Wio started to issue USD accounts for UAE companies.Hopefully they will introduce multi-currency accounts.
Having just AED means nothing as you can't accept money from outside in USD/EUR but it's nice to have an option like this.
That's really a great news!!!Wio started to issue USD accounts for UAE companies.
Yes pretty good news. Only USD but probably they will introduce other currencies in the future.That's really a great news!!!
How about EUR?