Why didn’t Wise add payer information?

Why did Wise not add the payer information?

Everyone knows that in addition to using the most popular Paypal, foreign LEAD alliances also need to develop other payment methods. After all, not all All alliances accept this payment, so we must have other popular and mainstream payment methods. Today, Sima Xiaoqi will share with you the registration process and details of Wise.

Part 1: The overall background of Wise

Wise uses real-time exchange rate transfers and supports transfers between more than 80 countries. The transfer fees are lower than those of banks and the transfer time is shorter. It is a A company that is legal and compliant and abides by the laws of mainland China is a formal remittance financial company. Wise has signed cooperation agreements with China UnionPay and Alipay, so you can use it with confidence!

(1) Wise payment collection

You can open multiple mainstream currency accounts such as US dollars, euros, Australian dollars and British pounds, and your account will receive payments just like an ordinary bank account. Just provide your currency-specific bank account information to the person or company you want to pay you, and they can make the transfer.

(2) Arrival time

Official instructions for remittance arrival time are generally 8 hours, but some may arrive in 1-2 hours, and some may take 1-2 days. It depends on domestic bank working hours and remittance methods, but basically it won't take too long.

(3) Wise payment method

If remitting from the United States, four payment methods are supported:

1. Bank debit (ACH): 2 hours to the account within 6 hours;

2. Wire transfer: Use your bank to manually transfer the funds to Wise, and then make the remittance. The recipient is expected to manually transfer the money within 6 hours;

3. Debit card: Arrive within 2 hours;

4. Credit card: Arrive within 2 hours.

The handling fees for each method can be seen below. This fee is a reference, but in general, credit card handling fees are the highest, followed by debit cards, and then bank account checking.

(4) Handling fee and exchange rate

USD account supports: Checking account (0.3 handling fee), debit card (1.15 handling fee), credit card (3.7 handling fee), Wire (a handling fee of about $5);

TransferWise fee is -1.5, and the first $600 to register a new user using the invitation link is free of charge.

(5) Remittance limit

RMB account support: UnionPay card (whether it is China Merchants Bank, Bank of China or China Construction Bank), Alipay (requires a bound bank card) ;

The maximum amount of each remittance is RMB 31,000, which is almost more than $4,700 in US dollars. Limit per payee: $10,000/day, or $50,000/year.

Part 2: How to open an account

wise’s latest registration process is as follows:

1. Register for a wise account: Open the official website in Google Chrome and click in the upper right corner Click to translate this page to support Chinese registration;

2. Enter your email address and click to continue:

3. Select a personal account:

4. Select a country, Continue and enter the verification number:

Then send the verification code and click Submit Verification Code.

5. Then create a login password:

6. Enter the backend and fill in personal information: click to get started

7. Fill in the basic information: first name, last name, Date of birth, country of residence.

8. Choose to open a USD account:

9. Activate a USD account: Select USD account information, the system will prompt you to deposit 170 CNY to confirm and verify your identity.

10. Select USD as the value-added method and payment method:

11. Wise Choice provides 5 methods, just choose any one:

12. For example, select the first debit card, and then enter the card number information, CVV, and validity date:

13. Identity authentication: Select the second one for authentication

Then scan it and a pop-up will appear. Issuing country: Select China, select Passport as the file type

Then select Photo, follow the prompts to take a photo of the passport and submit it. (A personal passport must be present here)

14. Then complete the selfie and face recognition operations. This part of the registration is complete.

Part 3: How to activate WISE’s USD account?

First of all, wise does not accept third-party organizations to perform verification and activation on behalf of customers, but it can accept X.Y.K payment verification or virtual card account verification with the same name.

So which virtual cards support the verification of recharging $20 to the same name?

1. Swissquote account, Dukascopy account, quppy account:

2. Or apply online using Capital One’s X.Y.K. No US credit record is required, as long as you have Itin number can be used to submit the application.

3. At present, virtual cards of common card categories such as Global Pay and E-Go Card cannot successfully deposit funds.

Deposit directly via Bank of America Passbook.

Deposit money by opening an East West Bank Velo account. Relevant tutorials can be found on the Internet.

Open German N26 bank deposit.

The latest and simplest BKBPAY platform for recharging and depositing money. (Recommended, if you don’t have resources, you can ask me for recommendations)

Part 4: Wise-related risk control factors

1. Wise is not very strict about IP address risk control, so try not to use it. You can change your IP to log in at will, and real-name authentication is required.

2. In daily use, do not frequently transfer large amounts to different people, and avoid remittances with unknown people to prevent association with bad accounts. Although this is an international remittance tool, you must understand , this is not used for money laundering and must be used legally and compliantly!

3. Some netizens who have reported account bans generally have this problem, making all kinds of random transfers. We usually use UnionPay cards to make large incomings and outgoings, and are used to fast in and out, but don’t do this in Wise.

4. Once the account is blocked, you cannot register a new account with the same identity. You can only register one account with one identity, use it and cherish it.