Comment by casenmgreen
3 months ago
Well, I mean, on a contract I might make 60k GBP gross over six months, and it just sits in the account. The bank seems to get a fair bit of money in its accounts, for it.
3 months ago
Well, I mean, on a contract I might make 60k GBP gross over six months, and it just sits in the account. The bank seems to get a fair bit of money in its accounts, for it.
Maybe it's simplistic, but I imagine their business model revolves making money from transfers, and they're probably don't value having money sit in accounts as much as, say, a bank that's in the money-lending business.
That’s about 240 GBP at the current spread between what wise is offering and the interbank rate (which is higher than wise is getting on their uk safeguarded accounts).
So you probably blew through that the minute your account triggered elevated kyc.