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This makes me pretty nervous. I am having a go at being a "digital nomad" and use Wise as my primary "bank". I only have one customer, paying EU into a EU IBA
by gorbypark 3y ago
This makes me pretty nervous. I am having a go at being a "digital nomad" and use Wise as my primary "bank". I only have one customer, paying EU into a EU IBAN and then I am just using Apple Pay to pay for my daily needs. I have about 10k EUR in the account...I want to move it, but I also don't want to pay the conversion fees into my home currency, and then back again (I am mainly based in Europe and spending Euros).
- throwaway2037 3y agoIf you are based in Europe, then open a regular retail bank account denominated in EUR and transfer your money. It seems simple enough. Then, you can stop doing business with Wise. If you are not doing "digital nomad" legally, then I have little sympathy for your situation.
- jddj 3y ago> It seems simple enough That depends where in Europe
- gorbypark 3y agoEverything is more or less completely legal since the Wise account is "domiciled" in Canada and I will be paying taxes on the income in Canada. I just don't want to convert the Euros into CAD, send them back to my real bank in Canada and then have to pay the 2.5% conversion fee to spend in Euros (or any other currency in places I might end up in). I don't have a permanent visa here yet so I don't believe I can easily just open a bank account.