Lump-sum Withdrawal Question

2 comments

1. Does anyone have experience receiving the lump sum in their Wise account? (formerly TransferWise)

2. For the branch name and branch location/address. Choose a bank location that you visit mostly but can be any bank location really. I just went to my usual bank location and use them as my branch location for my application and providing proof of bank info.

   I asked for a direct deposit form (the form you can give to new employers), I submitted that with my application.

   I also was given a “Deposit Account Balance Summary” by my bank which showed I was the owner of the account, when I opened my account and etc. But the document still didn’t show the bank’s branch name and address. So I asked if there was anything else they can add or provide. The best my bank was able to provide was stamp of the bank’s branch name and address. The stamp wasn’t used for anything official but seemed like it was used for stamping the bank branch location’s return address for envelopes and such. It was like a mailing stamp, nothing special or important.

   Summary:
   1) ask for a “Deposit Account Balance Summary” Document at your bank.
   2) ask if they can stamp that same document, the stamp needs to have the bank name, branch name and the branch’s address. The stamp can be the mailing one they use to stamp the bank’s branch name and return address for envelopes and such. **But do not use that stamp on your application, where it saids “Bank stamp for verification”. Just leave that part blank, that is something I think US banks just cannot provide. I left that part blank.**
   3) ask for a Direct Deposit form, they can leave the new employer info part blank, just make sure your info is on the form: your name, home address, account number and etc.

   Edit: the final item I added was a voided check even though I provided a Direct Deposit form.