Not sure if others have noticed but the TransferWISE partner bank in the US seems to have changed at least 3 times without any notification and much to my surprise even the account number changed (except for the last 3 digits)
It was Evolve Bank and Trust, then it became something else…Now it is Community Federal Savings bank. I just happened to notice the last one because I was thinking of doing a transfer into WISE and logged into my account to verify all the info and noticed that the name of bank did not match what I showed as the linked external account.
Yes. The story with Evolve Bank & Trust was unfortunate, since Evolve suffered a massive hack/breach and therefore dropped by many companies that use them (not just Wise), and hence the switch (back) to Community FSB. Often times though, Wise would try to find the best bank for the money, and contracts do expire, allowing them to shop around for the best deal. Just like you and I would.
Normally they do communicate this switch in advance, albeit not soon enough for many to notice, so it’s always advisable to double-check that your account details are still accurate, especially before making a large transfer. I recall last year when they decided to drop US bank details for many EU residents, which made it a little more expensive (and a bit inconvenient) for them to receive USD in their Wise USD bucket (via wire transfer or ACH). Not the end of the world, but still annoying.
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I recall the Evolve BT problem. That is when they switched to someone else, but it wasn’t Community FSB, it was someone else. It would be nice if they sent out a notification that their partner bank had changed.
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For my business account, the only one for which I have USD banking details, the bank has been Community Federal Savings Bank from day one (more than ten years ago).