I’m outside the EU and setup a TransferWise EUR account thinking I would be able to make payments to other European bank accounts as it has its own BIC and IBAN.
Today I tried my first trade and in TransferWise, when I enter in my trade partner’s IBAN, TransferWise is telling me it doesn’t support that bank and can’t proceed. I don’t know what to do. I have a BE account and was trying to send to a PT bank.
I also tried using TransferWise’s SWIFT option but it recognised the BIC I entered and wouldn’t proceed saying that I needed to use SEPA instead as I was trying to send money to another EU country.
I think I’ve messed up a trade.
I realise now after re-reading the Wiki that using TransferWise’s email address to send seems to be the only way to go, but there seems to be such thin volume with TransferWise as the payment option and I was really looking forward to being able to make SEPA transfers with all the EUR denominated offers.
- Has anyone been able to get it to work and can pass on some tips?
- Am I out of luck with this trade? and,
- Am I out of luck with this method of payment all together?