got banned on Wise - Possibly for funding large amts out to IBKR. Need alternative funding routes
Hi all, just sharing what happened to me recently.
- Moved ~600k through Wise in July & Aug, of which I essentially was using the 20k limit everyday.
- Funded majority to IBKR, and some to a USD account I hold in Vietnam. Some travel spend.
- Got banned, appeal rejected. No details as apparently they're not allowed to share
No matter - now I need another method of moving money around the world + spending on travels.
FYI this could happen to you too.
Options (for ref all quotes are for RM100k, and USDMYR spot is 4.085 now):
- Bank TT (large transfers): I checked Maybank >RM50k USDMYR TT is at RM4.10 (~40bps spread) + RM30 cable + USD 10-25 for intermediary banks.
Probably easiest and best route for 6 fig transfers.
Sunway Money: RM4.109 (60bps spread), havent been approved yet so can't see if any other fees
Maybank Global Access: Bait and switch FX. First screen show 4.101, final screen shows 4.119 (80bps) wtf lol. but tbh I'm pleasantly surprised as its still okay for travel spend in small amts for the convenience (same fx for RM1k).
I wish we had Revolut here or a direct competitor to Wise...
What do you guys use now?
Edit: quite funny people think sus for wtv reason. i wouldnt be making a post if i knew that i was discovered for doing smt sus. lmfao...
and appreciate it if people could answer re: alternatives. Thx to the 2 guys that mentioned SG accounts and Instarem