Wise is asking questions about Bisq transactions

Wise blocked one of my transactions and proceeded to ask questions about multiple previous Bisq trades I made. Specifically they asked “Let us know why you’re receiving transfers from [NAME]”. They also asked to know what my relationship with [NAME] is, and for a detailed description of the purpose of each transaction. They asked these questions about multiple parties I had traded with.

I understand that the Bisq trade rules require me to leave an empty field for payment reason, which I do. It would be great if Bisq had a way to deal with these types of questions when / if they arise post-trade. Even a simple trade description field that is held in Bisq for later reference. Or a method to contact the other party (e.g. email, telegram … etc).

This is something that has happened many times in the past and will happen for sure many times in the future.
There is no magic script that you can use to get yourself out of this situation, and leaving the payment reason blank is usually the least risky option. The trading peers can agree between themselves on a common reason to use for the transfer, but barring that, the rule of leaving it blank still stands.

When a bank starts asking these question, it’s because they already have decided your account will be canned, but they want to show they are actually doing something to let you keep it. You should still act as if the account is already lost, and move all the funds out, while the current pending payment will lead to a dispute on bisq, which should resolve with each trader getting back his own, as the issue was because of a bank.

You can answer them with the truth, which is “Those transfers are confidential, and so is my relationship with the people who sent them, but they are completely licit transfers and all of those people sent me the money of their own accord. I would be violating a privacy contract I have with them if I answered any differently to your questions”.

It will not probably change anything, but at least you will not cave in.

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Initially they blocked me from moving money off Wise. I complained about it and they let me withdraw my balance.

I told them my transactions were confidential and that I couldn’t release that information without the other party’s permission.

Absolutely not using them ever again.

As long as you could withdraw the balance, that’s a partial happy ending.
Yes, write them off your list, but expect any other institution to do the same in the future if you receive frequent payments from many different people across several countries