Wise Test Wise Receiving Global Payments 2

Question 1

What does Wise's 'account details' feature provide to users who want to receive USD from US payers?

Accepted Answer

A Wise-owned bank account number routed through ACH/wire

Answer

Wise issues local account details (routing + account number) so US payers can send ACH or wire transfers directly to you.

Question 2

When a client sends you a SWIFT wire in USD to your Wise account details, who typically pays the SWIFT intermediary fees?

Accepted Answer

The sender's bank deducts them from the transfer amount

Answer

SWIFT intermediary bank fees are usually deducted from the transfer amount by the sending or intermediary bank, reducing what you receive.

Question 3

Which of the following currencies does Wise NOT currently support for receiving local account details?

Accepted Answer

Venezuelan Bolivar (VES)

Answer

Wise does not offer local account details for VES; it supports major currencies like GBP, EUR, USD, AUD, and others.

Question 4

If you receive EUR via your Wise EUR account details, how is the money held by default?

Accepted Answer

In EUR in your Wise EUR balance

Answer

Funds received in EUR are credited to your EUR balance and remain in EUR until you choose to convert or send them.

Question 5

What is the main advantage of sharing your Wise local account details instead of your personal bank's SWIFT/BIC details?

Accepted Answer

Senders pay lower or no international transfer fees

Answer

When senders use Wise local account details, the payment travels as a domestic transfer in the sender's country, avoiding costly international wire fees.

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Wise Test Wise Receiving Global Payments 2