Wise is a global money transfer service that helps individuals and businesses send money across borders. It also serves as a multi-currency banking platform that allows you to receive and keep money in over 50 currencies 

Wise is one of the Fintech companies that can boast of having over 10 million users worldwide. It user group consists mainly of immigrants, digital nomads, international business people and global workers

If you fall into any of the groups stated above or you just want a convenient way to send and receive money internationally, you can create and register an account with Wise using the guidelines in this article.

What you need to open an account with Wise

The following will be needed for your account registration process and complete verification on Wise.

• You must be at least 18 years old 
• You must have a valid ID (a valid passport, driver’s license, or a national identity card) in one of the accepted countries 
• You must be willing to provide your personal details such as; your official name, date of birth, phone number, residential address, postal code, country of residence and proof of address 
• You will also be required to provide the primary currency for your transactions.

The process of opening an account with Wise is in three phases;

1. Register online 

2. Verify your identity 

3. Set up your account 

How to register a Wise account online

• Visit www.wise.com or download the Wise mobile app on Google play store or App store 
• Sign up with your email address. Better still, you can sign up with your Google, Facebook or Apple Account 
• Choose the type of account you need (either personal or business account)
• Set your country of residence 
• Choose your password and do a two-factor authentication 
• Agree to their terms of use and privacy policy, then submit 
• You will receive a verification link via your email address. Click on the link and confirm your account.

How to verify your identity 

When you decide to send some money or fund your Wise multi-currency wallet, you will be required to verify your identity as instructed by the financial authorities in most countries.

To begin the verification process, 

• You will need to select your main reason for using Wise 
• Take a picture of yourself and upload it. 
• Upload a photos of the required documents 
• Within few minutes or a few days, Wise will review and confirm your identity
• If you need help with any step, you can reach out to the Wise support team via email, their website or mobile app
• Once your identity is confirmed, you can begin to send, receive and keep money in several currencies.

How to set up your Wise account

You can set up your Wise account to send, receive and keep money using the following set up prompt.

Currency account set up: 

This account set up allows you to receive and keep money in your Wise balance. It is usually known as a Wise currency (balance) account.

With this account set up, you can get paid from 30+ countries, hold money in over 50 currencies, and also switch between these currencies as you wish.

To set up your multi-currency wallet;

• On your dashboard, click 'Open a balance'
• Select the currency you wish to hold money in 
• To top up your account, click on 'Get account details'
• Add money using your bank account, Apple Pay or debit card
• If you need to receive money from abroad, you can find your account details by choosing the currency you want to get paid in, click on receive, view and share your account details with the sender.

Wise payment set up

This setup allows you to send money from Wise to a recipient in any part of the world.

To set up your Wise payment; 

• On your dashboard, click on Send Money 
• Enter the amount you want to send 
• You will get different quotes and their estimated delivery time 
• Select the one that is suitable for your plan and budget 
• Make your payment and submit.

Wise business account.

If you have employees from around the world, a Wise Business Account is an ideal way to pay them all at once (up to 1000 people) with a very low transaction fee.

Your business account can also be connected to several accounting softwares for you to easily control and manage your finances conveniently.

The process of opening a Wise Business Account is almost the same as opening a personal account. The only difference is that you need to answer more questions especially in relation to your business, like;

• Business registration details 
• Business location 
• Industry type
• Online presence 
• Business type (LLC, Corporation, non-profit, LP, etc)
• Personal details of the business owners and board members like their names, date of births and residence.

It is important to note that Wise business account is only available to residents of few regions like Europe, Singapore, Hong Kong, the US, Japan, Australia, Malaysia, Canada, Brazil, and New Zealand.

Wise Card Services.

The Wise debit card is available in a few regions like Europe, the US, Australia, Canada, New Zealand, Singapore, Malaysia, Philippines, Brazil and Japan. 

But it holds money in over 50 currencies and supports spending in over 200 countries and it permits withdrawals from ATMs anywhere. So if you are within any of the countries where Wise card is accessible, you should get the card before you travel out.

To get the card, you need to complete the verification process, provide your address for delivery and pay the card fee.

When you get your card, you have to activate it. If it's a Visa card, you can activate it by using your pin to make payment in a store.

If it is a Mastercard, you will get a 6-digit code that you can use to activate your card via the Wise website.  

Whether you need a Wise personal account or business account, for your international transactions, you can use the guidelines in the article to begin the application process.

Send money across borders!

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