Opening an Account in the Wise Payment System

A key requirement on the company is to keep client funds in low-risk financial institutions. For that purpose Wise maintains accounts:

• at Barclays Bank, one of the world's largest financial conglomerates;
• at the Wells Fargo banking holding.

Why open a Wise account

Reliability is the main draw. Even if Wise ceased to exist, clients would get their money back from the safeguarding accounts at Barclays or Wells Fargo.

A Wise account can be opened in multiple world currencies, including a multi-currency account.

Transactions run through the international SWIFT system with a simple, user-friendly interface, and clients receive banking details for accepting payments from the USA, Australia, the UK, and European countries.

What Wise asks for at registration

For a business account Wise requires you to:

• provide company details, including registration data, location, and industry, plus the full names, birth dates, and countries of residence of all owners and directors;
• provide personal details of the business profile owner, including their position in the company. If that person is not a director or shareholder, additional information and documents may be required.

Account types and verification

Wise accounts are registered remotely, in two types: personal and business. For business accounts the company always runs a full compliance check before the first transfer or account activation.

Verification takes 4-7 business days on average; in some cases it runs longer and additional information or documents are requested.

Wise does not accept every applicant, so a risk of refusal exists for both personal and business accounts.

To open a Wise account and pass verification the first time, contact our specialists. We prepare the documents, keep your involvement minimal, and register a personal or business account with the lowest realistic risk of refusal.