WISE – Off Shore Multi Currency Banking Services
WISE (formally known as TransferWise) is an off-shore (virtual) banking and transacting platform. You can have accounts in multiple currencies. You can use WISE to exchange currencies, send money in local currencies to other countries, receive funds in chosen currencies, and hold funds in deposit. WISE provides a cash card for convenience that toggles to your local curremcy. The more people that are on board using WISE and other similar platforms the less access the controllers will have to our hard earned fiat funds.
We have been using WISE banking services since 2018. We receive an affiliate commission from WISE when you start banking with WISE which helps us continue our work.
WISE allows depositors to hold funds free of charge for up to 3 days providing they stay under the amounts in the examples mentioned below. Funds held for over 3 days that exceed the below amounts attract an annual fee of 1.6%. or approximately 0.00437% daily:
- AUD — 23,000
- USD — 18,000
- GBP — 13,000
- EUR (personal) — 15,000
- EUR (business) — 70,000