Wise Compliance Guide: Using Your Account with Stripe and Crypto Platforms

So you've got a Wise account and you're wondering what you can actually do with it. Maybe you're running an online business with Stripe, trading some crypto on the side, or just trying to figure out if that payment from your freelance client will get your account frozen. Let's break down what Wise actually allows—and more importantly, what they don't.

What Wise Says About Payment Sources

Before we dive into specific platforms, here's the deal: Wise has rules about where your money comes from. Not all accounts play nice with their system, and understanding these restrictions can save you from the nightmare of a frozen account.

The "You Can Receive, But Can't Send" Club

Stripe payments fall into an interesting category. You can receive money from Stripe into your Wise account—that's fine. But you can't use Wise to pay for transfers or add money from Stripe. Think of it as a one-way street.

The same goes for PayPal. If PayPal accepts your Wise details as a withdrawal account, great. Money can flow in. But trying to use PayPal to fund your Wise account? That's a no-go.

When dealing with business payments and international transfers, many professionals look for reliable platforms that support multiple currencies and offer transparent fees. 👉 Open a Wise multi-currency account to simplify your global payments and avoid the headaches of traditional banking restrictions.

The Third-Party Problem

Here's where things get tricky. Wise requires that money coming into your account must be from an account in your name. Third-party accounts are blocked, including:

• Estate accounts

• Skrill accounts

• Contis Group accounts

• Card One accounts

If the account holder shows up as someone other than you, Wise won't accept the transfer. Period.

The Crypto Question Everyone's Asking

Wise doesn't accept cryptocurrency directly—no Bitcoin, Ethereum, or any other crypto. That's clear. But what about crypto exchanges?

This is where it gets interesting. Wise will accept payments from cryptocurrency platforms, but only if that platform is regulated in the EU or UK. Not just registered—actually regulated. There's a big difference.

What Makes an Exchange "Compliant"?

I reached out to Wise support with a detailed question about Kraken, and their response was enlightening. According to Wise customer service, Kraken is acceptable because it's regulated by the UK's Financial Conduct Authority (FCA).

Kraken's subsidiary, CryptoFacilities Ltd., holds FCA reference number 757895. Their funding partners—Fidor AG for EUR transfers and ClearJunction for GBP—are also properly regulated in Germany and the UK respectively.

The key takeaway? Wise confirmed: "As Kraken is regulated, we can accept the money from Kraken to your balances or multi-currency account."

But here's the catch: Just because Kraken is approved doesn't mean Binance is. In fact, Wise specifically states that Binance is not supported. If you send money from Binance to Wise, they'll bounce it back.

Real-World Testing: Does It Actually Work?

Theory is one thing. Practice is another. Here's what happened in actual tests:

Kraken to Wise (GBP via FPS): A 5 GBP withdrawal arrived in the Wise GBP account within 5 minutes. The payment showed as coming from "PAYWARD LTD" (Kraken's registered entity) and went through without issues.

Kraken to Wise (EUR via SEPA): A 5 EUR withdrawal took about 6 hours but landed successfully in the Wise EUR account, again showing "Payward Ltd" as the sender.

Both transfers were credited directly with no holds or verification requests.

How to Stay Safe: The Risk Spectrum

Not all payment sources carry the same risk. Based on documented cases and Wise's enforcement patterns, here's how different funding methods stack up:

Safest options:

• Direct bank transfers from accounts you've linked through Wise (like US bank accounts connected via Plaid)

• Transfers from your own bank or brokerage accounts

Generally safe:

• Payments from major platforms like Apple, Google, Stripe, or PayPal (when used correctly)

• Transfers between Wise accounts you own

Proceed with caution:

• Payments from lesser-known payment processors

• Transfers from EU/UK regulated exchanges

High risk territory:

• Non-verified crypto exchanges

• Payments from accounts not in your name

• Transfers from unregulated platforms

For those building international businesses or managing cross-border payments, understanding these compliance requirements isn't optional—it's essential. 👉 Get started with Wise's business account to access dedicated support and clearer guidelines for commercial transactions.

Personal vs Business Accounts: Know the Difference

Here's something crucial that trips people up: Wise draws a hard line between personal and business use.

Your personal Wise account can receive:

• Your salary or wages

• Payments from freelance platforms

• Money from friends and family for personal reasons

Your personal Wise account cannot receive:

• Business payments from clients (you need a business account for this)

• Commercial transactions

Business accounts can handle payments from e-commerce platforms, clients, and other third parties. If you're running any kind of business operation—even freelancing—using a personal account for those transactions violates Wise's terms.

The Name Matching Mystery Solved

There's confusion about whether incoming payments need to match your name. Here's the actual rule:

When you initiate a transfer or add money to Wise, the source must be in your name. But when others send you money using your Wise account details (your sort code and account number, for example), their name doesn't need to match yours.

This makes sense—how else could clients or friends send you money?

What Actually Gets Accounts Frozen

While Wise is relatively flexible about receiving payments, account closures do happen. The pattern? It's almost always about incoming payments rather than outgoing ones.

The riskiest behaviors:

• Receiving money from unregulated crypto platforms

• Getting payments from accounts not in your name

• Using personal accounts for business transactions

• Receiving funds from payment processors that have been abused or are on Wise's watchlist

Once Wise closes an account, it's permanent. Like PayPal, they don't offer second chances.

Bottom Line: Do Your Homework

Before you route payments through Wise, especially from crypto exchanges or business platforms:

1. Verify the platform is EU/UK regulated—not just registered

2. Check that funding partners are legitimate regulated financial institutions

3. Contact Wise support first if you're planning large transfers

4. Use the right account type for your transaction purpose

5. Keep everything in your name when you're the one funding your account

The FCA maintains a public register of temporarily registered crypto firms in the UK. If your exchange isn't on that list or similarly regulated in the EU, don't risk it.

Wise offers incredible flexibility for international money movement—multiple currencies, local account details in various countries, and reasonable fees. But that flexibility comes with compliance requirements. Understanding where the lines are drawn means you can use the platform confidently without waking up to a frozen account.

Want to stay on Wise's good side? Keep your transactions legitimate, transparent, and within the bounds of their acceptable use policy. It's not rocket science, but it does require paying attention to where your money comes from.