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Wise and Currenxie asking for info

Giorgiogori

Active Member
May 2, 2020
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Hi,

Wise just emailed me asking for the upload of ID and selfie for my personal account already verified in 2016, could be it is just
their policy to recertify identities every once in a while but ...

Currenxie sent the following email:

1701959221449.png

1701959266341.png


Is something changing for these EMIs supposedly not exchanging?
 
Hi,

Wise just emailed me asking for the upload of ID and selfie for my personal account already verified in 2016, could be it is just
their policy to recertify identities every once in a while but ...

Currenxie sent the following email:

View attachment 5756
View attachment 5757

Is something changing for these EMIs supposedly not exchanging?

If your in EU then it sounds like EU DAC7 tax reporting which starts 31st Jan 2024 for Marketplaces for reporting year 2023. All Marketplaces have to comply.


Yes, this explanation I see as very reasonable, although it can be just a routine re-check as well (Wise is not very well predictable IMO).

Currenxie sent the following email:

View attachment 5756
View attachment 5757
This I see as an another game.
Currenxie sent this message probably to all users, at least also to users that do not trade with Amazon.
And I am reading it in such a way that Amazon does probably want to deal only with subjects having accounts with street banks, not with neobanks and/or EMIs – for the future.
(To explain: “the beneficiary bank account currently saved in your Currenxie Global Account” concerns the fact that Currenxie wants every customer to have some another bank account – with traditional bank, neobank or EMI, it does not matter – that is recorded in their files for the case of your Currenxie account suspension as the place for sending funds. Note: Currenxie does not suspend accounts for nothing, TBMK.)

So it's probably an interesting information for Amazon sellers... (?)

Is something changing for these EMIs supposedly not exchanging?
With Wise – may be; for Currenxie I do not see the reason.
BUT:
If the institution is located in an AEOI/CRS country (both are), DO NOT rely on fact that it does not contribute to CRS. At least, it can start anytime without notification.
 
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Yes, this explanation I see as very reasonable, although it can be just a routine re-check as well (Wise is not very well predictable IMO).


This I see as an another game.
Currenxie sent this message probably to all users, at least also to users that do not trade with Amazon.
And I am reading it in such a way that Amazon does probably want to deal only with subjects having accounts with street banks, not with neobanks and/or EMIs – for the future.
(To explain: “the beneficiary bank account currently saved in your Currenxie Global Account” concerns the fact that Currenxie wants every customer to have some another bank account – with traditional bank, neobank or EMI, it does not matter – that is recorded in their files for the case of your Currenxie account suspension as the place for sending funds. Note: Currenxie does not suspend accounts for nothing, TBMK.)

So it's probably an interesting information for Amazon sellers... (?)


With Wise – may be; for Currenxie I do not see the reason.
BUT:
If the institution is located in an AEOI/CRS country (both are), DO NOT rely on fact that it does not contribute to CRS. At least, it can start anytime without notification.
And I am reading it in such a way that Amazon does probably want to deal only with subjects having accounts with street banks, not with neobanks and/or EMIs – for the future.

I use Amazon with 10 neobanks, so I don't think that's a problem!
 
I have contacted all EMI that we use in our daily operations and through which we expect a relatively large turnover. Generally, we hardly receive any questions, and when we do, they are often resolved within a few minutes.