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

[hereforgood]

I logged into wise an hour ago and got a message saying they needed to update my address if I wanted to continue using the account. I live in Thailand use a Us address of my son who luckily has the same name as myself so I had him take photos of utility bills with his name and address which will show the same as mine. He forwarded them to me via email I went back into wise got the same message to verify. I clicked next and very quickly a message came up saying we have everything we need if we need more will let you know. Unsure why they asked me to verify and then told me they didn't need any more.

[SmokeandIce]

17 hours ago, impulse said:

 

My bank accounts got canceled for lack of a US address about 4 administrations ago.

 

That was your individual bank's policy, now it is turning into a U.S. government regulation.

[wittleus]

Just a couple of thoughts. The FCEN is part of the Department of Treasury. It's very possible they have been a do-nothing office for last few years and suddenly because of fear of cancellation by the Doge they are starting to enforce the laws they were meant to do years ago and are becoming proactive. They want to keep their jobs and not have their Department canceled.

 

Another thought, if Thailand decides to side with BRICS, an organization/monetary initiative that Trump really hates, what is the possibility that he can order Banks, and maybe Social Security payouts, not to deal with countries, Banks, and currencies associated with BRICS.  If he can't actually stop them or change who they do business with, he can certainly Step Up controls and security with organizations like FCEN, to make even simple, everyday Financial transactions very cumbersome and nearly impossible. That's something to mull over for the future.

[digger70]

This is WHY ,,, So they SAY.

 

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

[BritManToo]

15 hours 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.

WISE is not a bank.

[JohnOFphon]

I use USA2me com.  . I have an address in Texas that is not a P.O, box number.

Also when I file USA taxes, I use this address. No state tax in Texas...not that that matters to me. 

[dantho]

23 hours ago, BritManToo said:

Nearly as bad in the UK, no UK address and they are likely to cancel your bank account.

That's very strange as I have accounts with HSBC in the UK and all they have is a Thai address and I've not had a problem with them.

[Thingamabob]

On 2/3/2025 at 5:05 AM, PumpkinEater said:

I’ve been using WISE transfers monthly for the past two years during my retirement without issue, transferring money from my USA bank account to my K bank account. 
I tried the normal WISE transfer yesterday and there was a red notice that I had to update my information. So 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.

My concern as a US Citizen is the “whats next” question?

Are they working on cancellation of overseas living or retirement? Will they cancel my Citizenship and therefore my Social Security because I don’t own a home in the US anymore? Quite disturbing activity by the powers involved…

 

Any other folks out there having this problem?

 

Cheers!

I have had similar problems with two major banks in the UK.

[Freddy42OZ]

19 hours ago, PumpkinEater said:

Doesn’t work…

WISE only accepts address from you passport (issued) country

 

Not true. 

I've never had an address in the UK, seeing as I've never lived there. 

I've used WISE for years, account created in Bangkok, using Thailand as country of residence and my Bangkok address.