Any alternative for Wise?

[Tupee]

Been long time fully verified member at Wise, have always been extremely satisfied with them up until yesterday when I found they are restricting my account, requiring resubmitting docs. And I got stuck in the process, because they do not accept bank account statements from me like before, but they are requiring proof of employment papers that I don't have. Seems I need to change. There have always been Revolut as B option, but I hate that because my phone is old and cannot verify myself running the app on that, so I needed to borrow a newer phone to be able to install and verify myself with it. But this is not good as a long time solution. Any other alternatives for Wise? I need the multi currency account, the multi currency based card mostly. Seen some similar companies, but what I found only offer 1 single EUR account. However I need USD, EUR and GBP accounts at least.

 

[Jetman]

Have a look at Skrill

 

[Tupee]

Have a look at Skrill

Problem with Skrill is that as I understand, no matter you can set up different currency accounts, the spendings with the card are calculated in the main account currency first, and then exchanged, so exchange fee arises. This is what makes Skrill an inconvenient alternative for me for years.

 

[Jetman]

I understand. I think it will be quite difficult to find something to replace Wise in that way. All of these companies make their money with exchange rates and fees.

 

[Insider]

Problem with Skrill is that as I understand, no matter you can set up different currency accounts, the spendings with the card are calculated in the main account currency first, and then exchanged, so exchange fee arises. This is what makes Skrill an inconvenient alternative for me for years.

The main currency of my account is USD but i can also use EUR for transfers from or to bank accounts, receiving or paying money from gaming, affiliate payments and so on. I can't use Skrill masterecard for online payments in EUR because card is in USD. Only if you have a positive balance there. In each case it will cost you fees. But how much depends on you. Changing from EUR to USD or opposite makes not really sence because the fees are too much. Also transfers from Skrill to Neteller are too expensive.

If i have a positive balance in EUR and want to cash out, then i use bank transfer which will cost 5,50 Euro. This is the easiest way for me without having too much fees. This works instant and the money are booked within a short time. But it can take also up to 24h, just a note.

For USD, EUR and GBP i would normally say Payz but for me as german customer the use of Payz getting more and more worse. I can hardly use Payz anymore because there are no more options from companies. I have no idea how e-wallets runs in UK or the rest of european countries but in germany it goes always more complicate. Generally the use of e-wallets in regard of online gaming and regulations makes it unfortunately more and more difficult.

 

[Juan Roman]

I recently came across AirWallex, they appear to be similar to Wise, Revolut. Will probably start using it to pay freelancers from some third-world countries as Wise does not allow these and LHV for example has slapped a €100 fee per transaction.

Can't say how good they are yet, but they seem to allow multi-currency accounts and their fee structure seems quite okay.

 

[eenzoo]

Payoneer could be an option too. I use them for a lot non gambling stuff.

 

[Tupee]

The main currency of my account is USD but i can also use EUR for transfers from or to bank accounts, receiving or paying money from gaming, affiliate payments and so on. I can't use Skrill masterecard for online payments in EUR because card is in USD. Only if you have a positive balance there. In each case it will cost you fees. But how much depends on you. Changing from EUR to USD or opposite makes not really sence because the fees are too much. Also transfers from Skrill to Neteller are too expensive.

If i have a positive balance in EUR and want to cash out, then i use bank transfer which will cost 5,50 Euro. This is the easiest way for me without having too much fees. This works instant and the money are booked within a short time. But it can take also up to 24h, just a note.

For USD, EUR and GBP i would normally say Payz but for me as german customer the use of Payz getting more and more worse. I can hardly use Payz anymore because there are no more options from companies. I have no idea how e-wallets runs in UK or the rest of european countries but in germany it goes always more complicate. Generally the use of e-wallets in regard of online gaming and regulations makes it unfortunately more and more difficult.

How do you transfer to bank accounts from your Skrill balance? It sounds impossible, for me there is no option like that. Only to use a credit or debit card for those. This way it is not suitable for my needs.

 

[Tupee]

I recently came across AirWallex, they appear to be similar to Wise, Revolut. Will probably start using it to pay freelancers from some third-world countries as Wise does not allow these and LHV for example has slapped a €100 fee per transaction.

Can't say how good they are yet, but they seem to allow multi-currency accounts and their fee structure seems quite okay.

Thanks, I will check that out it sounds interesting.

 

[Tupee]

Payoneer could be an option too. I use them for a lot non gambling stuff.

I registered to Payoneer 10 years ago but it seemed to be a low grade copy of companies like Wise and Revolut. Only had 1 account, allowed in USD, and had some kind of rules that I did not completely understand: as if only business transactions would have been allowed. Did this change since then?

 

[eenzoo]

Still business transactions only (how ever they define "business").
USD/EUR/GBP accounts available.
My account runs under a Florida LLC and I've received several xx.xxx to xxx.xxx wire payments from (let's call it) Balkan parties, which have been rejected and returned by Wise.
Unfortunately, payment-wise, nothing works forever and I look to have as much options as possible ready to use.
The AirWallex option looks appealing too. JR should keep us posted!

 

[Kadabra]

AirWallex - ok, not easy with gambling.at least for me the exchange fees where much higher as they do not transfer in my local currency.

also lower UX then Wise but that's personal thing.

but if not Wise i think they for sure will serve you 10x better than Skrill. TBH, i really have no idea how Skrill didn't go bankrupt yet considering the other options available and their horrible customer service.

 

[eenzoo]

Just checked my email. I use Skrill since May 2012 frequently. At a very low scale.
I keep no balance there, but to receive and spend some couple of hundred $, its painless, tax efficient and working!

 

[Insider]

How do you transfer to bank accounts from your Skrill balance? It sounds impossible, for me there is no option like that. Only to use a credit or debit card for those. This way it is not suitable for my needs.

I have no idea why there are no more options for you available, because i can use Skrill prepaid card, bank transfer, credit & debit card or Neteller, so it works easy for me.

1. choosing withdraw
2. then bank transfer
3. next click on deposited bank account
4. then using EUR as currency
5. next step the amount and finally confirm the payment, that's it

Hope you will find the right option for your transactions. How eenzoo said, "Nothing works forever and it's good to have as much options as possible".

 

[robjmiller84]

Revolut: Despite your reservations about Revolut, it remains a viable alternative for multi-currency accounts and cards. If borrowing a newer phone for verification is a temporary inconvenience, you can still take advantage of their services until you find a more suitable solution.

PayPal: PayPal offers a multi-currency account option, allowing you to hold and manage different currencies. However, their fees and exchange rates might not be as favorable as Wise or Revolut.

Payoneer: Payoneer provides a multi-currency account and card, allowing you to receive and send payments in multiple currencies. They are commonly used by freelancers and businesses with international clients.

Revolut for Business: If you are looking for a solution for your business needs, Revolut for Business might be a good fit. It provides multi-currency accounts and cards for businesses with cross-border operations.

N26: While N26 primarily operates in Europe, it offers a multi-currency account option with a debit card. It might be suitable if you are based in Europe and frequently transact in EUR, GBP, and USD.

OFX (formerly OzForex): OFX is more focused on international money transfers, but they do offer multi-currency accounts for certain regions. They might be worth exploring depending on your location and currency requirements.

 

[eenzoo]

Hmm N26 does not provide any kind of multi currency account. If you need to send anything € they force you to use Wise!
Revolut is asking question very soon. Closed my account for Crypto related transactions (even with a white listed Exchange).

 

[Tupee]

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[Kuprum]

Look at Capitalist.