Wise Validation

@mitsmaak

Hi

They are pretty much automated so if you can't comply there is not a great prospect.  You can contact them directly.  Good luck. 

Should I set up my Wise account months earlier then when I plan to move to Asia? They will want my Canadian Address? I guess I need to use a family address who will still reside in Canada, correct? I have not looked into the application but to open a Wise account do I need to put a minimum amount in the account to open it and do they require an amount of movement in the account ? I will watch more videos to understand it.  thanks

@callaway4000

They will want to see a copy of your drivers licence or similar showing your address.

Yes. setup now.

You don't need transactions but maybe a small amount to open.

Should I set up my Wise account months earlier then when I plan to move to Asia? They will want my Canadian Address? I guess I need to use a family address who will still reside in Canada, correct? - @callaway4000

That's usually the issue that must be dealt with before coming to Vietnam for everything from banks to credit cards to other financial services.

It's definitely the best idea (perhaps the only idea) to sort these matters prior to leaving your home country.

Especially maintaining some type of official address (usually a residence address, not just a post office box) and even a home country phone number, to deal with mobile verifications and such.

I'm not Canadian but I made the decision a long time ago to maintain residence and post office box addresses In the USA as well as maintaining a USA phone number. It's a small part of my cost of living that I'd rather not have to pay, but I ran into so many difficulties living here from 2018 until being kicked out during COVID in 2021, that once I returned here in 2022 I absolutely made sure all of those things were in place.

@callaway4000, I don't KNOW the ins and outs of every banking situation.

I was told that if I get a WISE account in Vietnam I wouldn't get an ATM card with the account. Thus, I was advised to get a WISE account in the USA, which I did. Conveniently, I have a US address through which I can route all my banking, the billing address on my credit cards. It's my brother's address.

The WISE ATM/Visa card was sent there. I inquire of friends and found a friend of a friend who was coming to HCMC. My brother sent the card to that guy in the USA - before he left - via FedEx, that guy brought it to Vietnam, gave it to our mutual friend and I got it! (I was advised NOT to send by mail, for sure! FedEx has a bad habit of sending "undelivered" stuff back to the sender, which would be in the USA! UPS and DHL seem to have a better track record. Dunno! I used the friend of a friend courier method.

All of my income is direct-deposited into a Schwab bank account in the USA (using my brother's address, again). I transfer the money I need here in VN to WISE and take it out of ATMs here in HCMC. If I lose the card (heaven forfend!) or when it expires, I'll have to go through the whole process again. The same goes for credit cards: replacements go to my brother. He holds them until I have a courier. There is some time limit on activation of the card once it's delivered to my brother's address, too! Dang! I got in under the wire because I lined up the courier set up before I asked for the card. If it looks like I'm going to run out of time, I'll tell my brother to do the activation!

Timing is the essence of comedy -- AND banking.

@KKK36

For the Wise account. I will open the account with my current address, but I plan to sell my home and move to Asia, so what if they need information from my home that I no longer live at in Canada? Or do I give my families information and address for security? that is another tough question.

@Lennerd

Wow, that is a lot of stress reading that..lol    I need to ask my bank if I can use my sisters address since she will be signing an affidavit or equivalent to having access to my account in case of fraud or needing a new card, etc. So hopefully that is possible. I will look into this.

I also know I should have 2 separate credit cards for your exact reason of problems and not being able to book hotels,etc.

The banking situation is the part I will get going now.

For the Wise, does there need to be a minimum amount in the account and does there need to be transactions in order to keep in open or active. ex. you need to make a transfer every 3 months to keep it active??

I was told that if I get a WISE account in Vietnam I wouldn't get an ATM card with the account. Thus, I was advised to get a WISE account in the USA, which I did.

Last I checked the Wise ATM card was totally useless in Vietnam. I had it up until earlier this year and no ATM would work with it. If I went to Singapore, Japan or Korea it worked perfect but for some reason in Vietnam it was a paper weight. Its possible they made recent changes that allow its use here.

@callaway4000

I don’t know what the limits of inactivity are because I transfer funds at least once a month!

@jrharvey

I get money out of my WISE account at ATMs in TP HCM pretty much every week.

@jrharvey
I get money out of my WISE account at ATMs in TP HCM pretty much every week. - @Lennerd

There were glitches at first: it’s a savings account . . . I had to select that as that is not the default on the ATM screen.

@Lennerd Wow, that is a lot of stress reading that..lol  I need to ask my bank if I can use my sisters address since she will be signing an affidavit or equivalent to having access to my account in case of fraud or needing a new card, etc. So hopefully that is possible. I will look into this. I also know I should have 2 separate credit cards for your exact reason of problems and not being able to book hotels,etc. The banking situation is the part I will get going now.For the Wise, does there need to be a minimum amount in the account and does there need to be transactions in order to keep in open or active. ex. you need to make a transfer every 3 months to keep it active?? - @callaway4000

Were you stressed by the reading or the content? 😜

The whole thing was pretty low-stress for me because done similar a few times.

@jrharvey

The Wise card is significantly cheaper to convert money than traditional banks.  I used it extensively at ATMs last year but this year most money is transferred into a Vietnamese account in VN Dong from the Wise card.

Works well for me.

@jrharvey The Wise card is significantly cheaper to convert money than traditional banks. I used it extensively at ATMs last year but this year most money is transferred into a Vietnamese account in VN Dong from the Wise card.Works well for me. - @KKK36

I just noticed that this very thread page has a link to the Wise website.

As Wise is an advertising partner, it would benefit expat.com if members were to use that link.

@jrharvey I get money out of my WISE account at ATMs in TP HCM pretty much every week. - @Lennerd

Interesting and thanks. Ill give it a go again next time I'm back in the US. I could never get mine to work so i let it expire. Are you perhaps from the UK? When I spoke to wise they said Vietnam was not a set up for US customers yet, only UK. Im from the US. If it is working for US customers now I would love to try again.

Australian. 

Wise was a little confusing to start with but they quickly sorted it out, I've had $20 AUD in there for moths. They ask for a $10 or $20 deposit to get your card delivered but it stays in your account, after that, up to $1000 deposit, no fees. So easy !!