Wise Test Wise Receiving Global Payments 5

Question 1

What should a US freelancer do if they want to receive AUD payments from Australian clients without currency conversion?

Accepted Answer

Open an AUD balance in Wise and share the Australian account details provided

Answer

Opening an AUD balance generates local Australian BSB and account number details, letting you receive AUD without automatic conversion.

Question 2

Which of the following scenarios would result in Wise rejecting an incoming payment?

Accepted Answer

The payment originates from a sanctioned country or entity

Answer

Wise is required by law to reject and return transfers associated with sanctioned countries or individuals on global watchlists.

Question 3

After receiving funds in GBP on Wise, what is the most cost-effective way to convert them to USD?

Accepted Answer

Use Wise's built-in currency conversion at the mid-market rate plus a small fee

Answer

Wise converts currencies at or near the mid-market rate with a transparent low fee, making it more cost-effective than bank or PayPal conversions.

Question 4

A payer sends money to your Wise account details but includes an incorrect reference. How does this affect the transfer?

Accepted Answer

The funds still arrive in your account; the reference is for your records only

Answer

For most local transfers, Wise credits funds based on account number matching, not the reference field, so an incorrect reference doesn't block the payment.

Question 5

What does Wise's transaction history feature allow you to do regarding received payments?

Accepted Answer

Download statements, filter by date or currency, and export to CSV

Answer

Wise lets you filter transactions, view details, and export statements as CSV or PDF for accounting and tax purposes.

Wise Practice Test Practice Test

Wise Practice Test Practice Test

Wise Test Wise Receiving Global Payments 5