You can do some .... "interesting" stuff with Wise.malcontent wrote: ↑Tue, 09 Mar 2021 9:57 amMost banks require some form of residency in the country or at least a good business reason, (like owning a property there) before they will entertain you. This has also gotten much more strict over the years. When I first came to Singapore in 1996 (only on a SVP), UOB & DBS refused but OCBC was still willing to open an account for me - wouldn’t be possible today, I’m sure.
That said, TransferWise (now called Wise) does allow you to open virtual accounts in many countries - these work just like real accounts with local routing numbers, etc.
That's correct. Wise don't have local account facilities yet for IDR. I'd forgotten they don't do every country yet.Max Headroom wrote: ↑Tue, 09 Mar 2021 11:40 amUpdate: I checked them just now, but I doubt it's workable, because to leverage your Indo bank account, i.e. for formalities such as buying local equity, you'll need to name the bank account you want to use. Since Transferwise's account is called "Transferwise", this bank account won't match your name, which means your trading account won't be validated. (Unless you legally change your name to "Transfer Wise" of course.)
Anyhoo, I'd love to be corrected on my assumption.
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