You will find out how to send and receive money using this platform as well as how to create wise account for free in this article.
Are you frustrated with losing money to hefty commission charges when sending money internationally? Many platforms like, PayPal impose commission fees, and prompting people to seek alternative money transfer solutions that don’t drain their funds with high commissions. An affordable means of sending money internationally is offered by the platform Wise.
Table of Contents
What is Wise?
With the help of the affordable international money transfer services offered by Wise, consumers may send and receive money from people in different countries with ease. Having served customers for ten years, the business has a solid basis of trust. Their user base currently exceeds 13 million, and they process billions of money transfers each month. To ensure prompt access to its services, Wise presently permits account setup and money transfers between 40 countries.
Requirements to Open a Wise Account
You can open a Wise account from your computer and smart phone. To open a wise account, you must have the following requirements:
- Your personal and contact information
- Your SSN
- Valid proof of ID
- Valid proof of Address (Driving license, Gas or electricity bills, US government documents)
Wise accept various documents for customer identity and address verification. All you have to do is capture clear, high-quality images of the required documents and upload them through the Wise app. If you face any problem, you can easily contact the Wise team via the chat feature for assistance.
How to Create Wise Account
As previously mentioned, creating a Wise account only takes a few minutes and is a simple process. This is a step-by-step tutorial on creating a wise account:
Step #1: Go to the Wise website, and click on Register
Step #2: Choose an account type, which type of account you want to make.
Step #3: Enter your email address, create a password, and select your country of residence
Step #4: Now you’ve to enter your mobile number. This number will be used for account verification purposes so choose an active number
Step #5: After entering the number, Wise will send you a 6-digit security code on your number. Enter the code and click on the submit button
How to Activate Wise Account
It will require verification and activation after account creation in order to send and receive funds. You must follow certain procedures in order to validate and activate your business account.
Step #1: When your account is created, you need to enter the business details. This includes your country, business name and company type
Step #2: After this, enter your registered business address
Step #3: Then add information to get your account verified. Here you’ll choose your occupation, social media links and size of your business
Step #4: Then enter your personal details such as your name, birthdate and country
Step #5: After entering all these details, you’ll have to enter why you’re using Wise. You can choose from the multiple given options
Finally, you need to verify your bank account and tax identification number. Based on your country, this can be different
Once you’re done adding the above information, your account will be verified and you’ll be able to send or receive money.
Frequently Asked Questions
Does Wise charge a monthly fess?
There’s no monthly or annual fee to pay for Wise account or Wise card. You may be asked to pay a one-time fee for some wise features.
Can anyone open a wise account without a US address?
You don’t have to be a US citizen, a passport holder or Green card holder to open a wise account. Wise account can be opened from a wide range of countries. So if you’re a foreign resident, you may still be eligible to open a wise account using proof of address from your home country.
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