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Don't use Wise. They can lock your account at any time. We're down $60k
Wise has stolen more than $60,000 AUD from us, and refuses to let us access it. We’ve had a Wise account for around 5 years (since they were called TransferWise). It’s been a really useful way to transact in foreign currencies, and pay for things when we’re travelling for work. In early-April 2025, Wise asked us to provide some additional information on our Ultimate Beneficial Owners (UBOs) by uploading a statement of shareholders, and the ID of the owners.
It’s been a really useful way to transact in foreign currencies, and pay for things when we’re travelling for work. In response, in early-April 2025, we uploaded a paid ASIC Extract for the business, and scans of the passports of the two UBOs. The message requesting additional information on UBOs went away, and the account continued ticking along.
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