I've been using wise for years and I'm getting about 1 pound every day and usually 3 or 4 on fridays. It's pretty cool see your money grow by itself
@USARealityCheck
10 ай бұрын
Maybe one of you can explain the following on the wise home page on the bottom. "The Program is not intended to be a long-term investment option, checking or savings account, investment contract or security." I'm a lawyer and I contacted wise and they don't know either. This statement is highly problematic without further clarification. Just think about it for a second. What happens if you leave your money in there for too long and what is too long. Account closure? Locked account? What???
@Monitodotcom
10 ай бұрын
Hey! Send over a link for the page and I'll take a look. Thanks. ^Jonny
@USARealityCheck
10 ай бұрын
Wish I could, but they get deleted. Look for it and you'll find it. It's not buried.
@mankamen19
9 ай бұрын
@@Monitodotcom Any update on this matter? Gladly awaiting the outcome.
@cintiaspataro3205
6 ай бұрын
Is there any follow up about this? Thank you!!
@anassbou6216
5 ай бұрын
Up
@enrico99999
2 ай бұрын
Thank you for the video. I have been testing Wise interest for my business (UK based) and noticed the following issues: 1. Interest earned shows up in the balance but not in the statement. 2. Wise fees are posted to the statement monthly but not the interest earned. 3. I have tried to withdraw 100% of my balance including interest earned and I was able to do so. However while my balance in the app went to zero, the balance in the wise statement went to negative values 4. After funding the account again, it has since appeared to have stopped earning interest (even if it is still set as interest). I am enquiring with support As a business, it is important to have the interest appearing in the statement as we need to account for it. I guess there is no interest showing daily as technically the fund units are increasing in value rather than paying out an interest but still can’t get my head around why it’s not showing in the statement when all the funds are withdrawn and supposedly the profit on the units is then fully realised It is also is concerning that it stopped earning. Would be great if you could answer some more questions around interest and reporting. Thank you!
@Monitodotcom
2 ай бұрын
This is a great comment, thank you for taking the time to write that. I'm going to follow up with WISE on some of these points, but on point 2 my understanding is that you can request a statement annually, for the period until 05/04 and that will have income, gains and losses on holdings, which can be used to prepare your tax return. Did you try requesting that through this link wise.com/balances/statements/tax ? ^Jonny
@hydnars
9 ай бұрын
If I convert my USD cash account to "interest", am I still able to spend and withdraw freely? You skipped the USD option, but I'm watching as a US citizen.
@Monitodotcom
9 ай бұрын
Yes absolutely, the same 'easy-access' applies for USD & EUR, sorry I should have clarified that! ^Jonny
@ignacioguirado9394
11 ай бұрын
Amazing video. Very well-explained and clear! Thank you :)
@Monitodotcom
11 ай бұрын
Glad it was helpful! ^Jonny
@renflarj
2 ай бұрын
Great video! Considering the fees applied when converting balances to different currencies, in general circumstances, for a EU resident who wants to use it as a long term investment, aiming diversification and getting more interest from the higher rates applied to other currencies (such as USD and GBP), do you think it would worth to have a jar in interest account in in USD, and/or in GBP?
@michaelcrozier2214
3 ай бұрын
I have been using Wise interest for almost a year, for my business and personal banking, but now my accoutnant needs information for bookkeeping, but I have no idea how to read or record the information they provide in the tax report generated? The example they give on their site isnt very helpful with understanding the report - do you have any advice on how to read the sums that will be owed in either CGT or income? Thanks
@laurenceagate9930
2 ай бұрын
I am in the same boat. I always complete my own annual tax returns and normally don't have a problem working through my various investments and extracting the necessary information required, be it stocks & shares, property investments or simple bank interest. But the WISE tax report is just multiple pages of gobbledegook, very difficult if not impossible to deduce the annual interest/capital gains' earned from the fund. To me their so called Tax Report is not fit for purpose. Did you (or anyone else)) manage to understand it?
@user-dr9no6bm7h
3 ай бұрын
Let's say I put 30 gbp in interest, how much will I get daily and how much will I pay in tax in the year for that same 30?
@zforged
2 ай бұрын
This would be nice if you had like 250k or something but i would worry if there was a crash as this could actually happen, according to my calculations, 250k and euro interest is about 24 euro a day is that right?
@juniorjunior592
9 ай бұрын
So it worth doing this ? Open a savings account and start with £5 and leave it on interest ?
@user-dr9no6bm7h
3 ай бұрын
??
@eSharkUK
Жыл бұрын
Yes, video is very useful, thanks a lot 😍
@Monitodotcom
Жыл бұрын
Glad you found it useful 🙂 ^J
@muhammadmoizhasan6933
6 ай бұрын
What do you suggest as a student should I invest in this wise interest or stock and one more thing wise will automatically deduct the taxes from my gain earning in Germany or I have to pay it separately ??
@velizargeorgiev4767
5 ай бұрын
It's automatic in the end of the year, as it is a very low tax
@miumiushoegirl
7 ай бұрын
Hello :) Please may I ask you a quick question? Hope you would answer meeee. Can I cancel it after I switched from cash to interest if i changed my mind?
@Monitodotcom
7 ай бұрын
Hey! Yeah you can change it back at any point. Just click on the balance and tap underneath 'Balance information', and change it to whichever you want. ^Jonny
@miumiushoegirl
7 ай бұрын
@@Monitodotcom Ohh thanks for your response and the answer 🤩
@miumiushoegirl
7 ай бұрын
arghh I accidentally move double the amount by clicking submit twice. But I can't switch back. I can't find that balance option 🥲
@cintiaspataro3205
6 ай бұрын
@@MonitodotcomIn that case, does it have a cost or some sort of fee? Thank you!
@matclark283
3 ай бұрын
Really helpful! Quick question. Can you change back to non-interest at any time?
@Monitodotcom
3 ай бұрын
Yes, you can change back at any time, but it can take a day to switch back but that won't impact your access to the account. ^Jonny
@anacristinaferreira8088
6 ай бұрын
My account doesn't show "Balance Information" so I can't choose Cash > Interest, even when I put Jar it doesn't work, any suggestions, please?
@Monitodotcom
6 ай бұрын
Hi Ana, may I ask which country you registered your WISE account in? ^Jonny
@KelvinDenham
2 ай бұрын
Hi, I have 32euro in interest showing on my account, when does the interest get payed in & shows up on my balance, Thanks
@Monitodotcom
2 ай бұрын
Hey Kelvin, may I ask which country you're based in? ^Jonny
@genog319
7 ай бұрын
I just read about the interest fund available, but watching the video resembled nothing I see on the app, or online for that matter. When I select the USD account I see no cash option. Am I an idiot or am I missing something?
@Monitodotcom
7 ай бұрын
Hey. I’ll try and help. Can I first ask which country you’re based in? ^Jonny
@lacmac7600
5 ай бұрын
It says the interest is credited into your account daily, i cant see what interest is being paid into my account. But i can see the asset fee being debited from my account.
@anassbou6216
5 ай бұрын
Maybe annually
@lacmac7600
5 ай бұрын
I asked and they said it's paid daily. They keep on sending the same reply to me. I even sent them my statement and asked them to show me where the interest has been paid as I added up the ins and out going payments which adds up. But no interest has been added to me account. They sent the same message again saying its paid daily. Now I'm getting concerned. And it doesnt help when Monito doesn't reply to my comment.
@8eck
9 ай бұрын
I don't have that Cash option in the balance... Any ideas why? I need business account for that?
@Monitodotcom
9 ай бұрын
Under balance information, can you check and see what it says? Balances are set to Cash by default and then you change them to Interest or Stocks. ^Jonny
@DemianUsul
9 ай бұрын
I can't see the Cash option either :( just the Transactions
@faizbhagett2241
5 ай бұрын
everyday i get 1 cent. which means 30 days 30 cent. its a bulshit..
@roygoad2870
Жыл бұрын
I’ve found that I can only access my cash account instantly, I cannot access my money that’s in the interest account until I convert into cash, so I’am confused! I have a UK account!
@Monitodotcom
Жыл бұрын
Heh Roy. That is confusing. I think it’s worth contacting WISE support because that directly contradicts the info they share on their website/app. To confirm, you are unable to spend money in a balance that’s set to interest? ^Jonny
@roygoad2870
Жыл бұрын
@@Monitodotcom Yes thats right!
@sharoleslam
11 ай бұрын
Great explanation, I hope your channel will have at least 100k subscribers soon I have a math question, Please help me out with this if you open a jar with 1000 GBP or USD as interest, how much money you would gain daily or monthly? just an estimation I need and the experience you had
@Monitodotcom
11 ай бұрын
The experience is pretty seamless, the interest you earn is deposited daily and updates at around 9pm, and you can spend the money freely, just by using your WISE virtual or physical cards. One thing to consider is that it can take more than a day to transfer your balance from cash to interest or visa versa. The amount you could earn on 1000 GBP and USD over 30 days without considering compounding, would be roughly: £4/$4. GBP is currently 4.87% and USD is 5.09% (these are rough/back of napkin figures),s o take them with a pinch of salt. ^Jonny
@jamilmalik661
9 ай бұрын
Hello sir it's a nice video iput on stock 100€&100GB.&100 sud how much I expect from earning
@Monitodotcom
9 ай бұрын
Thank you! How much you earn will depend on the interest rate my friend, how much it compounds and how long you're willing to wait, there are too many variables for me to give you an accurate answer. ^Jonny
@nickwynjones
4 ай бұрын
I'm going to not be dumb & do this then... Ill be coming to find you if my money crashes lol
@mechi.barron
9 ай бұрын
Hi! I tried to use the interest options on my usd balance but they sent me a message that says “Sorry, you can’t use Assets yet We can’t offer Assets to United States citizens or tax residents - or people who pay tax in multiple countries.” Do you know how can I fix this??
@Monitodotcom
9 ай бұрын
I'm not entirely sure why. If you read their program agreement (wise.com/us/legal/us-interest-program-agreement) for Interest and US customer's (see below) it makes it clear that it is available for those located in the US. I'm going to try and do some digging, can you just confirm your address on your WISE profile is based in the US? ^Jonny "This agreement (the “Program Agreement”) provides users with important information regarding Wise’s Balance+ Program (“Balance+” or “Program”) offered to Wise Account users based in the United States, defined as individuals and businesses who have provided a profile address located in the United States upon account opening (“US Customers”). The Program is available to new and existing US Customers who elect to participate (“Participants”). Participants will be eligible to receive interest on U.S. Dollars (“USD”), Euros (“EUR”), and Great British Pounds (“GBP”) (collectively, the “Eligible Balances”) held in their Wise Account."
@GraysonVoisinet
7 ай бұрын
I don't see any interest section in my account. Is this real or fake? Lol
@Monitodotcom
7 ай бұрын
May I ask which country you're based in? Or where did you originally open your WISE account? ^Jonny
@vs1354
Жыл бұрын
Вы так интересно рассказываете о сервисе Wise! Работает он для граждан России? Многих просмотров Вам.
@Englishonly-eh8br
Жыл бұрын
Смотря где граждане россии резиденты.
@adsoptimering1484
8 ай бұрын
Converting to an interest account, will it change your account number?
@Monitodotcom
8 ай бұрын
No it won’t, your account details remain the same. ^Jonny
@faizbhagett2241
5 ай бұрын
in one year, i will get only 3.60 .. wheather its an investment... nothing
@Monitodotcom
4 ай бұрын
How much are you investing? And what rate are you receiving? ^Jonny
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