Wise charge 55 EUR for business account opening!

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lory

Mentor Group Gold
I just created a new Wise business account, in the past they never charged for it, now they charge 55 EUR for the account opening.

Is that also for personal accounts?
 

Sols

Staff member
Mentor Group Gold
Yes, that's a relatively new fee. It does not apply to personal accounts and it's not for all countries.


 
A few years ago, if I remember correctly, it was allowed to withdraw around $600..800 or $1k from Wise card without fees. Nowadays it's gotten reduced to t $150 !!!

Do I remember correctly? I can't find any confirmation, but I remember that it used to be waaaaay higher.
 

CoinMaster

Mentor Group Gold
I don't pay any fee to withdraw 1000 euro a day in cash in ATM.

I just created a new Wise business account, in the past they never charged for it, now they charge 55 EUR for the account opening.

Is that also for personal accounts?
it's normal now... they need to make money!
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
I seem to remember you had to transfer 19 euros to open a business account back in the day. And money had to come from any account other than your Wise personal account. Business account opening pricing seems very selective anyway. For businesses in US or UAE it says its free to open :mad:. But EU ones seems they charge - or at least ones I quickly checked.

P.S Anyone notice the fees for receiving USD wires..high risk premium? ;).
 

JimBeam

Entrepreneur
I think both, but the topic here was business account and that's of a greater value for anyone having a company in UAE since business banking is tough to get while a for a personal all you need is Emirates ID and you'll get your account trough app within 5 mins.

We used (Transfer)Wise and it was great, then they announced that they are getting (or even got) a banking license in UAE and all of a sudden just sent that email and it was it.
They closed shop.

Emiratis figured how much their banks would lose if they allow them to operate so they blocked the thing. Sending money is a huge business in UAE as a lot of expats send their salaries back home to support their families.
 

zzzzzz

Active Member
I think both, but the topic here was business account and that's of a greater value for anyone having a company in UAE since business banking is tough to get while a for a personal all you need is Emirates ID and you'll get your account trough app within 5 mins.

We used (Transfer)Wise and it was great, then they announced that they are getting (or even got) a banking license in UAE and all of a sudden just sent that email and it was it.
They closed shop.

Emiratis figured how much their banks would lose if they allow them to operate so they blocked the thing. Sending money is a huge business in UAE as a lot of expats send their salaries back home to support their families.
What solution do people use now for cheap transfers abroad and conversion from AED?
 

JackAlabama

Entrepreneur
I seem to remember you had to transfer 19 euros to open a business account back in the day. And money had to come from any account other than your Wise personal account. Business account opening pricing seems very selective anyway. For businesses in US or UAE it says its free to open :mad:. But EU ones seems they charge - or at least ones I quickly checked.

P.S Anyone notice the fees for receiving USD wires..high risk premium? ;).
For a US LLC I paid 31$ just recently
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member

myshufflemix

Mentor Group Gold
they have an extremly long approval time at the moment... if the 55€ help to speed that up I'm fine.

Two years ago it was done in minutes.
 

EliasIT

Corporate Services
Mentor Group Gold
Yeah they just told me after 2 days my account is approved and verified, and when I login it is not even verified any longer. Damn Wise has to step up with their support, this is taking too long. It's annoying.
 

SoNewToAllShit

Mentor Group Gold
Yeah they just told me after 2 days my account is approved and verified, and when I login it is not even verified any longer. Damn Wise has to step up with their support, this is taking too long. It's annoying.
did you got your account opened after all this waiting?
 

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