Opening a Wise Account

Processing Time

For Individuals:

• Account registration and activation usually take 15 minutes to 1 business day.
  
  

• Steps include filling out the form, uploading documents for verification, and confirming identity.
  
  

• After successful verification, access to core account features is granted almost immediately.
  
  

For Legal Entities:

• Registration process may take 2 to 5 business days.
  
  

• Includes verifying company documents, such as the charter, registration certificates, and the list of beneficial owners.
  
  

• Additional checks may be required to clarify sources of funding and the nature of the business.
  
  

• The processing time may increase if additional data or clarification of documents is needed.
  
  

Factors Affecting Processing Time:

• Quality of Submitted Documents: Inaccurate or incomplete data may cause delays.
  
  

• Company Structure Complexity: Companies with multiple beneficial owners or foreign founders may require more time for verification.
  
  

Fees

Wise provides a transparent fee structure, making it a cost-effective solution for users conducting international transfers or managing multi-currency accounts. Fees vary based on the type of transaction and transaction amounts.

Key Fees for Wise

• Registration and Maintenance:
  
  

• Account registration is free.
  
  

• No monthly account maintenance fee.
  
  

• Transfers and Receiving Funds:
  
  

• International transfer fees range from 0.41% to 2% of the transfer amount, depending on the currency and direction.
  
  

• Receiving funds in a Wise account is free.
  
  

• Withdrawals:
  
  

• To a bank account: fixed fee depending on the currency (e.g., €0.50 for Euros, £0.32 for British Pounds).
  
  

• To a card: conversion fee and a fixed fee depending on the currency.
  
  

• Currency Conversion:
  
  

• Conversion fees range from 0.35% to 2% of the amount and depend on the currency pair. Wise uses the real interbank exchange rate with no hidden markups.
  
  

Cost Examples:

• Transferring $1,000 from the USA to Euros: fee will be approximately $5.14 (0.51%) with conversion at the real exchange rate.
  
  

• Withdrawing €500 to a bank account in the Eurozone: fixed fee of €0.50.
  
  

• Converting £1,000 to US dollars: fee will be approximately £5 (0.5%).
  
  

Who Is It Suitable For?

For Individuals:

• Wise is beneficial for private users who value low fees for transfers and currency exchange without hidden markups.
  
  

For Legal Entities:

• Companies use Wise to optimize international payments thanks to transparent fees and the absence of high service costs.

Legal Support

The process of opening a Wise account can be challenging, particularly for legal entities and clients with a complex business structure.

"Kadyrov, Drokonov & Partners" provides professional legal support to ensure the smoothest possible registration process and ongoing use of the service.

Our services include:

• Preparing and reviewing documents before submission to Wise.
  
  

• Providing guidance on all stages of registration and compliance with Wise's requirements.
  
  

• Legal support in resolving any disputes or complex situations.
  
  

• Analyzing Wise's terms of use for integration into clients' business processes.
  
  

With our help, clients open their Wise account quickly and without unnecessary complications.