If you have a Hong Kong bank account, that’s the easiest option: just fund it from an account in your own name to activate it.
The key point is that if you don’t have a Hong Kong account, Wise requires the first transfer to come from an account in your own name to activate it. The safest and lowest-cost route for now is via iFAST:
1. Wire money from China to iFAST: First, open an account with the UK digital bank iFAST in China (you can open one with a Chinese ID card). It’s recommended to use an Industrial Bank Huanyu Life card to wire pounds over. Apparently, for small transfers (e.g. under £20), there are no intermediary banks or intermediary fees, and the Huanyu Life card itself also waives the sending bank’s fees.
2. Transfer from iFAST to activate Wise: Once the pounds arrive in your iFAST account in your own name, send them directly to your Wise GBP account via the UK’s local FPS system. The transfer arrives instantly and activates it without any loss.
Some people say to use a crypto platform like Kraken or Neverless to activate it, but there’s no need, is there? Wise is extremely sensitive to crypto funds, and its risk controls are very “finicky.” There’s no need to take the risk of having your very first activation transfer linked to a crypto platform.
Quote @AvelyraX7: @owen19981993 Bro, write a guide on activating Wise
The key point is that if you don’t have a Hong Kong account, Wise requires the first transfer to come from an account in your own name to activate it. The safest and lowest-cost route for now is via iFAST:
1. Wire money from China to iFAST: First, open an account with the UK digital bank iFAST in China (you can open one with a Chinese ID card). It’s recommended to use an Industrial Bank Huanyu Life card to wire pounds over. Apparently, for small transfers (e.g. under £20), there are no intermediary banks or intermediary fees, and the Huanyu Life card itself also waives the sending bank’s fees.
2. Transfer from iFAST to activate Wise: Once the pounds arrive in your iFAST account in your own name, send them directly to your Wise GBP account via the UK’s local FPS system. The transfer arrives instantly and activates it without any loss.
Some people say to use a crypto platform like Kraken or Neverless to activate it, but there’s no need, is there? Wise is extremely sensitive to crypto funds, and its risk controls are very “finicky.” There’s no need to take the risk of having your very first activation transfer linked to a crypto platform.
Quote @AvelyraX7: @owen19981993 Bro, write a guide on activating Wise