How to create and verify Wise Account 2023
Creating and Verifying Your Wise Account, Wise stands out as an online platform designed for seamless money transfers across borders. It facilitates secure international transactions, enabling you to send and receive funds to and from individuals abroad. This encompasses scenarios where you’re transmitting money to someone situated beyond your national boundaries, either in a currency parallel to your own or in their preferred monetary unit.
Before we get into the details of international money transfers through Wise, the first step involves setting up a Wise account. In a manner similar to the protocol for establishing a conventional bank account, this process necessitates furnishing appropriate identification documentation. In this regard, Wise adheres to standard practices.
Now, you might wonder about the significance of creating a Wise Account. The rationale behind this move is multifaceted, although the primary incentive centres around accessing the most favourable exchange rates for converting your USD to your local currency.
Whether your aspirations encompass securing international business bank accounts denominated in USD, GBP, and EUR, tailored to accommodate freelancers engaging in platforms like Upwork, Fiverr, or even remote jobs around the world, Wise presents itself as the ideal solution. This offers you the capability to invoice global clients in a manner that resonates locally across diverse geographical boundaries.
Setting up a Functional Wise Account mandates the presence of several prerequisites: a valid email address, access to either a phone or computer and a reliable internet connection. The process entails a sequence of straightforward steps:
- Initiate the Wise application or navigate to the official Wise website.
- Locate and click on the “Sign Up” option.
- Opt for the country from which you intend to initiate money transfers. Note that certain countries necessitate the provision of your state information.
- Enter a valid email.
- Create a password that has at least 8 characters including uppercase and numbers
- If applicable, insert a referral code provided to you.
- Progress by clicking the “Continue” button.
With the simple steps above, you’ve successfully created a Wise account. This process should take less than 5 minutes to complete.
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How to verify a Wise Account
The following steps will get your Wise account verified in less than 10 minutes:
- Click on My Account in the top right corner
- Click on My Details
- Click on Complete your registration
- Fill all your details with the correct information
- Click on Continue
With these simple steps, you’ve successfully created and verified your Wise Account. The whole process should take you less than 10 minutes. Note that in some countries, the Wise App is not available, you have to make use of the Website.
If you are looking for a virtual card, we have a comprehensive article on the Best Virtual Dollar Cards in Nigeria for International Payment.
How Does the Wise Verification Process Work?
At Wise, verifying your account involves a straightforward procedure. They commonly validate your identity by utilizing a photo ID, proof of address, or even a photograph of you holding your identification.
The specifics of when and how we carry out the verification depend on various factors:
- Transaction Amount: For larger sums of money, we may require additional documentation to elucidate the source of the funds. Smaller amounts, on the other hand, typically necessitate identity verification alone.
- Currency Type: Certain countries mandate identity verification for any sum being transferred. Specific currencies entail more comprehensive verification steps. For instance, sending US dollars necessitates an online banking login for confirmation.
- Transaction History: Initial verification may pertain solely to confirming your identity. However, subsequent address verification could be necessary.
Occasionally, supplementary documents may be requested once a transfer is initiated. Rest assured, our dedicated team expedites the verification process for these documents, ensuring minimal disruption to your fund transfer.
Alternatively, some bank transfers are eligible for automatic verification. When the transfer originates from your personal bank account, and the name on the account aligns with the name registered on your Wise account, this serves as an initial form of identity validation. In such instances, ID or address verification may not be mandatory.
It’s important to note that this convenience is applicable to select currencies and transactions under 15,000 EUR. Business accounts are exempt from this automated process.
What types of documents does Wise accept for verification?
The documents you provide should align with the details on your Wise account. It’s important that the photo is clear and unobstructed, ensuring that all information is visible. In case there’s pertinent information on the reverse side of your document, that will need to be visible as well.
Do take into account that they may not possess the necessary resources to accommodate every language, potentially leading to the inability to accept documents not in English.
A valid identification could encompass:
- Passport (first page with photo)
- National ID card (limited to the latest iteration of your country’s national ID card)
- Photo driver’s license (with exceptions in some cases)
A valid proof of address document could entail:
- Utility bills: encompassing gas, electricity, or landline phone (excluding mobile phone bills)
- Bank or credit card statement (photo/scan of a physical letter or PDF statement)
- Council tax bill or HMRC notification
- Vehicle registration or tax details
- Photo driver’s license displaying both your address and expiration date
- Any other document issued by a governmental or financial institution
How long does verification take?
If you asked to verify while setting up a transfer, Wise will start reviewing your documents once they have received the money for the transfer. From there they usually take about 2–3 working days. When successfully verified, the transfer would be continued and a mail would be sent to you.
What countries can I receive USD from?
If you have a SWIFT code, you can receive USD from anywhere in the world using Wise, except in the following countries and territories:
- Afghanistan
- Belarus
- Burundi
- Central African Republic
- Chad
- Democratic Republic of the Congo
- Crimea
- Cuba
- Eritrea
- Guinea-Bissau
- Iran
- Iraq
- Korea, the Democratic Republic of (North Korea)
- Libya
- Republic of the Congo
- Russian Federation
- Serbia
- Somalia
- South Sudan
- Sudan
- Syria
- Venezuela
- Yemen
How to check Wise account number
To get account details, you need to open a balance in one of the supported currencies. You can only open a balance if you live in a country where the Wise balance is available.
Follow these steps to get account details:
- Go to Home
- Choose Open
- Select Balance
- Choose one of the currencies that has account details.
- Once you have the balance opened, click on Receive on the website, or More on the app.
- Select Get account details
- If it’s the first time you’re getting account details, you might need to complete some requirements first.
Once you’ve completed all of the requirements, you’ll have your own account details that can be shared with whoever wants to send you money — friends, companies, or customers.
