Wise Suspended, Looking for EMI bank options

[arjunsuru]

I had a wise (personal, not business) is suspended for no reason. now lot of money stuck.

Any suggestions for EMI banks who accept individuals?
mercury, novel, relayfi only taking businesses

 

[JohnLocke]

Didn't they say what the reason is? what did you use the account for?

Do you tried Revolut, Airwallex ?

 

[arjunsuru]

Didn't they say what the reason is? what did you use the account for?

Do you tried Revolut, Airwallex ?

wise said they couldn't give any specific reason for security concerns, i used wise to receive payouts from stripe and pay my vendors, nothing shady and it was a 3 year old wise, also alot of my friends experienced this ban, so many wise accounts were suspended in last few weeks for no reason.

i guess revolut won't work for me i'm canadian. i will try airwallex thanks for suggesiton

 

[ActionMan]

I had a wise (personal, not business) is suspended for no reason. now lot of money stuck.

"No reason"? Of course, there is a reason. Wise thrives on fees, so banning an account due to third-party transfers doesn't make sense. I believe your counterparty, especially if they are involved in P2P transactions, could be the cause. Additionally, having a personal account doesn't help in this situation

Any suggestions for EMI banks who accept individuals?
mercury, novel, relayfi only taking businesses

Payoneer could work

 

[Sols]

wise said they couldn't give any specific reason for security concerns, i used wise to receive payouts from stripe and pay my vendors, nothing shady and it was a 3 year old wise, also alot of my friends experienced this ban, so many wise accounts were suspended in last few weeks for no reason.

Why were you using a personal account to receive Stripe? And what vendors were you paying? That's not normal personal account usage, especially if it's as you say a lot of money.

Anyway, there's your reason — or at least one of them. You're using a personal account for business purposes.

Other EMIs are going to come to the same conclusion sooner or later. Just open a company and a business account instead next time.

 

[Digital Mirage]

Olkypay, Bunq

 

[Martin Everson]

i used wise to receive payouts from stripe and pay my vendors

As soon as I heard this ( for a personal account) your whole suspended for no reason argument disappeared.

 

[jafo]

As soon as I heard this ( for a personal account) your whole suspended for no reason argument disappeared.

I bet my SCROTUMS he was NOT paying vendors owned by institutional investors (e.g., Vanguard, Fidelity, etc.).

Source: https://finance.yahoo.com/quote/WISE.L/holders/

 

[clemens]

I had a wise (personal, not business) is suspended for no reason. now lot of money stuck.

Any suggestions for EMI banks who accept individuals?
mercury, novel, relayfi only taking businesses

you get it back if you provide them with a bank account in your name!

 

[Clearsky Network]

What about Revolut or Payoneer?

 

[Sols]

What about Revolut or Payoneer?

Both of them will throw this client out if they keep using a personal account as a business account. Payoneer might be slightly more forgiving, but even they have a limit.

 

[FiscalFanatic]

If you are an EU Citizen I recommend using N26 for personal use. I had to call their customer service on several occasions and they were responsive + helpful which is as you know quite rare with these providers. They offer cashback as well, albeit a minimum percentage (but should at least cover your costs).

Been using it for my business myself but there's 2 annoying things about that: a maximum monthly spending of 20k per month with your card (which is ridiculous but transfers are unlimited though) and even though you have a corporate account it'll be still in your own personal name. However, so far it's been headache-free ride so I'm still quite fond of them.

 

[diro]

N26 for personal account is good. Wise for personal account and use is good also.

 

[clemens]

N26 and Revolut beside Wise have been working very well and smooth in various setups of mine. I have personal and business accounts with all of them.

 

[Forester]

If you are an EU Citizen I recommend using N26 for personal use. I had to call their customer service on several occasions and they were responsive + helpful which is as you know quite rare with these providers. They offer cashback as well, albeit a minimum percentage (but should at least cover your costs).

Been using it for my business myself but there's 2 annoying things about that: a maximum monthly spending of 20k per month with your card (which is ridiculous but transfers are unlimited though) and even though you have a corporate account it'll be still in your own personal name. However, so far it's been headache-free ride so I'm still quite fond of them.

N26 for personal account is good. Wise for personal account and use is good also.

N26 and Revolut beside Wise have been working very well and smooth in various setups of mine. I have personal and business accounts with all of them.

N26 is good but @arjunsuru claims to be a Canadian , so no-go.

Nevertheless, the root of the problem was well depicted by @Sols and @Martin Everson – using a personal account clearly for business purposes.
@arjunsuru, if you do not like to have a company (what is quite possible), seek for a freelancer account, or for a provider which allows freelancers to use personal account. The former available for Canadians you can find e.g. with Zen.com, I guess.

 

[Why]

wise said they couldn't give any specific reason for security concerns, i used wise to receive payouts from stripe and pay my vendors, nothing shady and it was a 3 year old wise, also alot of my friends experienced this ban, so many wise accounts were suspended in last few weeks for no reason.

i guess revolut won't work for me i'm canadian. i will try airwallex thanks for suggesiton

Sounds like you were using a personal account for business. That could be it.

 

[DRL7]

I had a wise (personal, not business) is suspended for no reason. now lot of money stuck.

Any suggestions for EMI banks who accept individuals?
mercury, novel, relayfi only taking businesses

Novel is a scam and a cheap replica of Mercury! Mercury is a much better options out of these. Haven't tried relayfi.