Trading address updating/wise business account

[zareen]

Update: Good News Regarding the Issue Mentioned Below!

I wanted to share a positive update related to my recent situation. I updated my company’s address to match the trading address, and after approximately 10 days from the first email, Wise has approved it. Although I received a follow-up email asking me to update my account again even after I had already done so, today they confirmed that my address is now verified, and I can continue using Wise without any issues.

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Hi everyone, I could use some advice on a situation I’m facing. I have a Wise business account registered under my UK Ltd company, but since I reside in Pakistan, my company’s address is a virtual one. My director’s address, which is my own, is my actual Pakistani address.

Yesterday, I received an email from Wise requesting that I update my trading address before August 22nd, or they would suspend my account.

However, I had already set the trading address to be the same as my company address when I created the account 5-6 months ago. This address is a virtual office/PO Box purchased online, not a physical location, as I don’t have a real address in the UK.

My business operates in e-commerce, primarily through Shopify, where I ship individual items directly to customers in the UK. I don’t have a physical store or warehouse in the UK.

I’m not sure what to do now. Has anyone else experienced this? Any advice or insights would be greatly appreciated!

[cyberian]

@Black-Angel said in Trading address updating/wise business account:

Have you contacted support? What did they tell? I got 2nd email today. Plz share here what they say. Also my country Bangladesh 🇧🇩 also is not in drop down of country list.

It sounds like you’ve encountered an issue with Wise regarding the verification of your business’s trading address. Here’s a step-by-step guide on how to address this situation:

1. Clarify Your Situation with Wise Support:

• Since your trading address is virtual and Wise is asking for an update, it’s best to reach out directly to their support team to explain your situation. Clearly state that your business is e-commerce-based, operating from Pakistan, and the virtual address is for official registration purposes.
• You can mention that the products are dispatched directly to customers in the UK from the online store, and you don’t have a physical office or warehouse in the UK.

2. Provide Additional Documentation:

• If Wise requests proof of the trading address, provide documentation that supports your business activities, such as:
  • Proof of virtual address purchase.
  • Your Shopify store details.
  • Invoices or shipping receipts showing products being sent from your country to the UK.

3. Update Business Address If Required:

• If Wise insists on a different address, consider using a UK-based fulfillment service or a virtual office provider that offers a more comprehensive package (including mail forwarding and customer service), which might be more acceptable to Wise.

4. Confirm Compliance Requirements:

• Ensure that your business is compliant with UK regulations, as Wise might be verifying if the trading address aligns with HMRC or Companies House requirements. Verify your business details on the Companies House website to ensure everything is accurate.

5. Explore Alternative Solutions:

• If Wise is unable to accommodate your current setup, you might want to explore alternative business banking solutions that are more flexible with non-resident or e-commerce businesses.

6. Document All Communications:

• Keep a record of all correspondence with Wise for future reference. This will be helpful if there are any misunderstandings or if you need to escalate the issue.

By following these steps, you should be able to resolve the situation with Wise and continue using their services without interruption.

[Black Angel]

Have you contacted support? What did they tell? I got 2nd email today. Plz share here what they say. Also my country Bangladesh 🇧🇩 also is not in drop down of country list.

[cyberian]

@Black-Angel said in Trading address updating/wise business account:

Have you contacted support? What did they tell? I got 2nd email today. Plz share here what they say. Also my country Bangladesh 🇧🇩 also is not in drop down of country list.

It sounds like you’ve encountered an issue with Wise regarding the verification of your business’s trading address. Here’s a step-by-step guide on how to address this situation:

1. Clarify Your Situation with Wise Support:

• Since your trading address is virtual and Wise is asking for an update, it’s best to reach out directly to their support team to explain your situation. Clearly state that your business is e-commerce-based, operating from Pakistan, and the virtual address is for official registration purposes.
• You can mention that the products are dispatched directly to customers in the UK from the online store, and you don’t have a physical office or warehouse in the UK.

2. Provide Additional Documentation:

• If Wise requests proof of the trading address, provide documentation that supports your business activities, such as:
  • Proof of virtual address purchase.
  • Your Shopify store details.
  • Invoices or shipping receipts showing products being sent from your country to the UK.

3. Update Business Address If Required:

• If Wise insists on a different address, consider using a UK-based fulfillment service or a virtual office provider that offers a more comprehensive package (including mail forwarding and customer service), which might be more acceptable to Wise.

4. Confirm Compliance Requirements:

• Ensure that your business is compliant with UK regulations, as Wise might be verifying if the trading address aligns with HMRC or Companies House requirements. Verify your business details on the Companies House website to ensure everything is accurate.

5. Explore Alternative Solutions:

• If Wise is unable to accommodate your current setup, you might want to explore alternative business banking solutions that are more flexible with non-resident or e-commerce businesses.

6. Document All Communications:

• Keep a record of all correspondence with Wise for future reference. This will be helpful if there are any misunderstandings or if you need to escalate the issue.

By following these steps, you should be able to resolve the situation with Wise and continue using their services without interruption.

[Loren Jackson]

@zareen said in Trading address updating/wise business account:

Update: Good News Regarding the Issue Mentioned Below!

I wanted to share a positive update related to my recent situation. I updated my company’s address to match the trading address, and after approximately 10 days from the first email, Wise has approved it. Although I received a follow-up email asking me to update my account again even after I had already done so, today they confirmed that my address is now verified, and I can continue using Wise without any issues.

---

Hi everyone, I could use some advice on a situation I’m facing. I have a Wise business account registered under my UK Ltd company, but since I reside in Pakistan, my company’s address is a virtual one. My director’s address, which is my own, is my actual Pakistani address.

Yesterday, I received an email from Wise requesting that I update my trading address before August 22nd, or they would suspend my account.

However, I had already set the trading address to be the same as my company address when I created the account 5-6 months ago. This address is a virtual office/PO Box purchased online, not a physical location, as I don’t have a real address in the UK.

My business operates in e-commerce, primarily through Shopify, where I ship individual items directly to customers in the UK. I don’t have a physical store or warehouse in the UK.

I’m not sure what to do now. Has anyone else experienced this? Any advice or insights would be greatly appreciated!

I’m also facing this issue with my WISE business account (UK LTD).

Please comment below if someone finds a solution h🙏