WISE just shut me down!

[GroveHillWanderer]

32 minutes ago, PumpkinEater said:

Here is the page that needs confirmation by WISE.

Note that the Country (My resident Country) is shaded and cannot be changed.

I think that's possibly because that screen is for when you're trying to keep your residence country as the US, and all you want to do is confirm your address there. It wouldn't make any sense to change to a different country in those circumstances.

 

To change your country of residence, as far as I can tell, you would need to go to your personal details and update them. When I try to do that, it gives me a choice of all the different available countries, including Thailand.

[Etaoin Shrdlu]

 

I suspect that Wise's AML/KYC algorithms somehow decided that you were no longer resident at your old address. Perhaps they tap into IRS databases for this as they do to verify SSN/ITIN.

 

I think Wise limits each person to one account and that account likely must be set up and maintained to be compliant with the account owner's actual physical or tax residence.

 

You may have to either change the country and give Wise sufficient Thai address details to do so, or perhaps close the old account and open a new one.

 

Here's a bit from Wise's website:  

 

https://wise.com/help/articles/2949804/how-does-wise-verify-my-address

[billd766]

1 hour ago, Ohyesuare said:

 

Same here.

Here also.

[sandyf]

11 hours ago, PumpkinEater said:

I went in and saw that all was ok with my information and tried to continue. Again I was denied and called the WISE people who told me that I now need a physical address in the USA and that it cannot be a “mailbox”. I asked about who was behind this regulation and they sent me an email that the “Financial Crime Enforcement Network (FCEN) was behind this new requirement.

It should be no surprise that Wise will be looking closely at US accounts and some will suffer due to the actions of others.

Wise were fined $2.5M for what Wise claimed was an oversight and had already compensated the customers, about $2M of the fine was a civil penalty.

https://thepaypers.com/digital-identity-security-online-fraud/cfpb-orders-wise-to-pay-usd-25-million-fine-due-to-illicit-remittance-practices--1272051

[oldcpu]

1 hour ago, Yumthai said:

You're actually hiding your current tax residence(s) because this is what Wise is required to know to comply with OECD standards.

But as long as they don't address you directly to update/confirm your residence I guess it's OK.

 

Fair enough.  When I do visit Europe (typically for 6 weeks a year) that is my residence.  i see your point.

 

I actually did change my address to Thailand for a couple of years, but when I needed to change my Wise debit card, I had a problem (they would not ship to Thailand), so I changed my address back to Germany ... and they happily shipped my card there. i picked it up a few weeks later when visiting Europe (and staying at that address).

 

Perhaps Wise has changed their policy  since when I was using a Thai address ...   (I received a replacement card late last year @  German address and I have not changed my address back to Thailand again).

[PumpkinEater]

3 hours ago, GroveHillWanderer said:

I think that's possibly because that screen is for when you're trying to keep your residence country as the US, and all you want to do is confirm your address there. It wouldn't make any sense to change to a different country in those circumstances.

 

To change your country of residence, as far as I can tell, you would need to go to your personal details and update them. When I try to do that, it gives me a choice of all the different available countries, including Thailand.

Ok you were right. I went into the personal details and updated to Thailand address. The repercussions of stating Thailand as my “Country of residence”

will hopefully be minimal. Also there is a hold n the account now until they sort out my new address input. 
Cheers