Wise Test Wise Multi-Currency Account Features 3

Question 1

Which of the following countries does NOT currently offer Wise local bank account details for receiving payments?

Accepted Answer

North Korea

Answer

North Korea is a sanctioned country, and Wise cannot provide services or local bank details there.

Question 2

What does 'auto-convert' functionality in Wise allow users to do?

Accepted Answer

Set a desired exchange rate and have Wise execute the conversion when that rate is hit

Answer

Wise's rate alert and auto-convert feature lets you specify a target rate, and the conversion executes automatically when the market reaches it.

Question 3

What type of account verification is required to open a Wise multi-currency account in the US?

Accepted Answer

Proof of address and government-issued photo ID

Answer

Wise requires identity verification through a government-issued photo ID and proof of address to comply with US financial regulations.

Question 4

Which Wise feature allows businesses to pay multiple international employees or suppliers in a single batch?

Accepted Answer

Wise Payouts API or batch payments

Answer

Wise's batch payment tool and Payouts API allow businesses to send money to multiple recipients in multiple currencies from a single upload or API call.

Question 5

If you hold a GBP balance in your Wise account and use the Wise debit card to pay in EUR at a European store, what happens?

Accepted Answer

Wise automatically converts GBP to EUR at the mid-market rate plus a small fee

Answer

Wise auto-converts from your held balance to the local payment currency at the mid-market rate plus a small conversion fee.

Wise Practice Test

Wise Practice Test

Wise Test Wise Multi-Currency Account Features 3