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We have set up a account with Wise. We have deposited GBP into it. We now want to set up direct debits. We have given the companies our iban details from wise but do we need to convert the money showing in our GBP to Euros? GBP balance had money in but nothing showing in euros. Thanks
I pressed convert and think I have done it?! Surely better to transfer directly from my gbp uk account straight into euros in wise?
You need to open a Wise euro account.
Transfer GBP to the Euro account & set up your DD on the Euro account
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Thanks Roland. Converting it has moved it to our euro account so should be ok.
Posted: Wed Oct 20, 2021 2:00pm
Super helpful member
ZB81 wrote on Tue Oct 19, 2021 1:29pm:
I pressed convert and think I have done it?! Surely better to transfer directly from my gbp uk account straight into euros in wise?
Yes Correct transfer your money in euros set up a rate alert at your desired figure so you are notified when it reaches that figure. It actually hit 119 this week
Posted: Sun Oct 24, 2021 3:33pm
ZB81 wrote on Tue Oct 19, 2021 11:51am:
We have set up a account with Wise. We have deposited GBP into it. We now want to set up direct debits. We have given the companies our iban details from wise but do we need to convert the money showing in our GBP to Euros? GBP balance had money in but nothing showing in euros. Thanks
You can open multi currency accounts with Wise, so I have a GBP account and a Euro account . Different IBAN numbers. I’m assuming your direct debits will be in euros ? So firstly make sure you set up both, very easy through their app and make a note of the IBAN. I then move GBP from uk into both, monitoring the exchange rate. Make a note of the Euro account IBAN and used this for your direct
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