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Hi All,
I have decided to try swapping my direct debits over to WISE so that I can close my Sabadell account. I already have a WISE account which I use to transfer funds to my Sabadell account, but cannot work out how to fund the WISE account so that direct debits can be paid. Am sure further questions will follow!
Would appreciate any info.
Thanks Julie.
julietony wrote on Thu Jun 9, 2022 7:02pm:
Hi All,
I have decided to try swapping my direct debits over to WISE so that I can close my Sabadell account. I already have a WISE account which I use to transfer funds to my Sabadell account, but cannot work out how to fund the WISE account so that direct debits can be paid. Am sure further...
Read more...
... questions will follow!
Would appreciate any info.
Thanks Julie.
So you should have a euro account and GBP account within your wise account. Transfer money in to you GBP account from a UK account. When you open the GBP account on Wise you will see a ‘ convert ‘ option. Click this and it will convert how many GBP’s you want into your Euro account. You can then use the Euro account for direct debits.
PedroB wrote on Thu Jun 9, 2022 7:11pm:
So you should have a euro account and GBP account within your wise account. Transfer money in to you GBP account from a UK account. When you open the GBP account on Wise you will see a ‘ convert ‘ option. Click this and it will convert how many GBP’s you want into your Euro account. You can...
Read more...
... then use the Euro account for direct debits.
Thank you I will try that. How easy is it to swap over direct debits? I started with my iberdrola account but couldnt see any bank details for them. Wondering if it’s actually a bit of an effort for the time and savings involved?!
Posted: Fri Jun 10, 2022 7:18am
Helpful member
If youve been using your wise account for just transfres , you need to set up a gbp and euro account , this option is on the menu bar, you need to transfer some money and then it takes a couple of days , once you have your accounts all the details become available
Yorks wrote on Fri Jun 10, 2022 7:18am:
If youve been using your wise account for just transfres , you need to set up a gbp and euro account , this option is on the menu bar, you need to transfer some money and then it takes a couple of days , once you have your accounts all the details become available
Great thank you. Hopefully it will all be quite straightforward 🤞
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Yorks wrote on Fri Jun 10, 2022 7:18am:
If youve been using your wise account for just transfres , you need to set up a gbp and euro account , this option is on the menu bar, you need to transfer some money and then it takes a couple of days , once you have your accounts all the details become available
Hi I have just tried this but can’t see any such option on the home page?!
Posted: Fri Jun 10, 2022 10:16am
Super helpful member
julietony wrote on Fri Jun 10, 2022 8:01am:
Hi I have just tried this but can’t see any such option on the home page?!
Hi
On your homepage, do you see a white box with a plus sign and the word open? If so, click on it.
Cheers
Steve
Stevec2x wrote on Fri Jun 10, 2022 10:16am:
Hi
On your homepage, do you see a white box with a plus sign and the word open? If so, click on it.
Read more...
Cheers
Steve
Hi Steve,
No I dont have that option but I think I have found what I need under 'manage' maybe some accounts are set up differetnly to others?
Thanks for the replies on this everyone .
Julie
Be aware that you will now be charged a fee for holding over €3k. This has been reduced from 15k and makes the account less useful for me and I suspect others who need a reasonable balance to cover DD's.
Posted: Fri Jun 24, 2022 2:51pm
Super helpful member
Portet wrote on Fri Jun 24, 2022 2:18pm:
Be aware that you will now be charged a fee for holding over €3k. This has been reduced from 15k and makes the account less useful for me and I suspect others who need a reasonable balance to cover DD's.
Hi Portet
I hold all my accessible money as euros (usually less than €1k). However I have one or two small direct debits using GBP. - when the DD is processed, Wise automatically convert the corresponding amount in euros to GBP, and so pay the DD.
So I reckon that you can keep your total below €3k, and just rely on Wise to convert any shortfall from your GBP..
Also on the odd occasion, Wise have refused a DD due to lack of funds - but immediately sent me an email saying that if I provided said funds by the end of the day, the DD would then be paid. I did so, and they did.
Cheers
Steve
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