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Sols

Staff member
Mentor Group Gold
It has more to do with business activities than the amounts. While transactions in the 500,000+ EUR range will trigger some forms of controls with any financial institution, what matters more are purpose of payment, origin of funds, destination of funds, relationship between senders and receivers, currencies, frequency of transactions, and so on. All these data points together form a risk profile of the transaction and the account.

That is to say, if your business is clean and within Wise's acceptable use policy and assuming that you can provide supporting documentation for transactions, it shouldn't be a problem.
 

kkein

Active Member
if i remember correctly there's a limit for a single transaction, at least outbound. like 50k or 100k. I might be wrong, please someone correct me if i am
 
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4br

New member
I opened a Wise account with about 600,000 EUR. From and to the same company. But from a Caribbean piece of paper company from @Martin Everson 's favourite target bank.

It arrived the next day if I remember and they hit me with their document request.

I was surprised with how quickly I was able to get the money credited into the account. I just sent them some invoices and all my bank statements.

After they sent me an email to say that I should email: largetransfers [АТ] transferwise.com before further large transfers; I guess that is @wise.com now.

I really like the service so far. In terms of international transfers and not losing 3% on them, it is the best.

I suspect they are on a loose lease from the global cabal; and after their honeymoon growth period they will jack up their fees and their somewhat lax KYC will be replaced with rFID scanners.
 

Admin

Forum Moderator
Staff member
That's a nice review of Wise @4br thank you.

They seem to be very responsive if some has questions in regards to they KYC policy, documents policy and transfers in and out and more important it looks like they really want to help you avoid troubles. It's so far one of the best online services I have used.
 
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