Re: [tlug] Receiving money internationally

[CL <cr.lipton@example.com>]

Steve,

I do project work 5~7 times a year for a UK client that has employed me 
since 2007.  I work on a US$ base.  The time between estimate and 
payment is usually ten days~two weeks and I consider the exchange risk 
reasonable.  Their accountant is in Hong Kong has recently dumped all 
SWIFT transfers and established a pay only through Wise system.  My last 
project payments to my Three Diamonds Bank account were returned.  Wise 
just said my bank reported that there were problems with my account.  My 
bank said "Nope".  I have worked extensively with the International Desk 
of that bank on several ongoing AML investigations and they offered to 
flag my account for incoming transmissions with a note that, if the 
funds were from Wise to accept and pay immediately.  They saw nothing, 
not even a telegraphic advice of incoming payment.  After three weeks 
and six failed transmissions, the accountant eventually was forced to 
use Wise to pay a subsidiary of my client at HSBC and have them transfer 
by SWIFT.  Fortunately, the client ate the transfer fees.

I am in the process of completing a Wise registration originally begun 
in March, but needed to finally go out and get a My Number card, which I 
am waiting for.  They want your billing address and the address on your 
residence documents to be the same.  In my case, they aren't.  We're 
officially registered in Adachi-ku, but my work address / place I 
actually live is in Oarai.  Neither of my Japanese banks give a rat's 
that my registered address and mailing address are 150km apart, but the 
Kinyukantokusho is adamant that they must be the same.  The locals 
ignore the national government regularly. The foreigners fear and obey.  
Since my registered address is occupied by a family member, I guess I 
will create a fictional move there to get my Wise card as well as that 
of that "other" company as another client wants to have me do so by 
November 1.

You can avoid having to get a My Number card, which allows the local 
government into the seams of your wallet if your torokusho, driver's 
license, and you have a paper bill from a utility or ISP that have your 
names on them, and the names are the same.  My license and torokusho 
have my name as it appears on my passport.  I didn't think it was 
necessary to give ToDen, BiGlobe, the water department, or au my middle 
name to do business, so Wise didn't consider them to be enough of the 
same.  They have become sophisticated enough to recognize that you in 
romaji is you in katakana.  YMMV.

CL

On 8/29/22 18:30, Stephen J. Turnbull wrote:
> Joe Larabell writes:
>
> Hi Joe!  Thanks!
>
>   > I've been using Wise (formerly known as TransferWise)
>
> Have you seen anything about ToC changes for AML/KYC purposes?  What I
> saw for the pp service looked quite strict.
>
>   > *Replies to this address are processed by Google servers so it might be
>   > prudent to refrain from discussing anything you wouldn't be willing to
>   > write on the back of a postcard.*
>
> Heh.  I just assume everything in email is processed by NSA servers
> (some relabelled "FBI//FISA").
>
> Steve