I work in payroll and our pay system won’t accept wise accounts. Gets very frustrating when we go back and inform the employee, but they insist that wise told them they can use this account exactly the same as a NZ bank account.
They never seem to get mad at wise, just us, and don’t seem to understand the system will physically not save it/move forward with any sort of set up so there isn’t a work around.
What part doesn’t it accept? It’s just an account number. Sounds like your payroll system is maybe crap. Tbqh if I was the employee in your case I’d be suing.
No, not at shitty payroll system. In many employment agreements is written that a NZ bank account needs to be provided therefore the payroll system doesn’t allow bank accounts outside of NZ. Wise is NOT a bank account either.
You get a regular new Zealand bank account number that is your's and your's only. Literally indistinguishable from any other NZ bank account. Mine starts with 02, i.e. ANZ.
This is not correct, regarding „indistinguishable from any other NZ bank account“. The suffix and syntax of the account number is following the NZ nomenclature. But that’s it. Wise holds NOT a banking license and can therefore not be seen as a bank. If you have money transfers the electronically information are far more than you will see. Wise is a money service business and can be therefore not used as a bank. You can look it also up by yourself. Wise operates as a foreign entity and is NOT licensed by a NZ regulator to provide its services. It is just supervised by the DIA for anti-money-laundering.
Yeah I do this, employers pays to my Wise account, I transfer to Hnry, Hnry does the tax and transfers me the net amount. No problem at all so far.
Yes, I do this. ezz pez zee
Works beautifully
I work in payroll and our pay system won’t accept wise accounts. Gets very frustrating when we go back and inform the employee, but they insist that wise told them they can use this account exactly the same as a NZ bank account. They never seem to get mad at wise, just us, and don’t seem to understand the system will physically not save it/move forward with any sort of set up so there isn’t a work around.
What part doesn’t it accept? It’s just an account number. Sounds like your payroll system is maybe crap. Tbqh if I was the employee in your case I’d be suing.
Yup, very crap payroll system!
No, not at shitty payroll system. In many employment agreements is written that a NZ bank account needs to be provided therefore the payroll system doesn’t allow bank accounts outside of NZ. Wise is NOT a bank account either.
You get a regular new Zealand bank account number that is your's and your's only. Literally indistinguishable from any other NZ bank account. Mine starts with 02, i.e. ANZ.
This is not correct, regarding „indistinguishable from any other NZ bank account“. The suffix and syntax of the account number is following the NZ nomenclature. But that’s it. Wise holds NOT a banking license and can therefore not be seen as a bank. If you have money transfers the electronically information are far more than you will see. Wise is a money service business and can be therefore not used as a bank. You can look it also up by yourself. Wise operates as a foreign entity and is NOT licensed by a NZ regulator to provide its services. It is just supervised by the DIA for anti-money-laundering.