[parisidau]

I can answer in our case: as an Australian business that receives a lot of USD, precious few options for keeping that money in USD _and_ having it accessible via a debit card exist. This is one of them. Typically, we don't let much money sit in the Wise account, because as you rightly say, their terms are onerous as hell.

[gloosx]

Interesting, thanks for the explanation.. Here where I am located I can accept payments in any currency on my business account in bank institution and spend them right away, but maybe I'm just lucky with location.

[parisidau]

Our main, regular, actual, regulated Australian bank does offer a "Foreign Currency Account" in USD (and many other useful currencies), but cannot link a debit card to it, and it can only wire transfer.

Our regular transaction account with our real bank can receive USD just fine, but it will convert into AUD upon receipt, and spent as AUD with the attached debit card.

It's more effective to be able to spend USD directly, as needed.

Wise's offering (and others like it: OFX, Airwallex, Revolut) offer ACH, FedWire, Wire transfer, and a Debit card.

[xtracto]

Usdc + paywithmoon.

I don't understand why people nowadays allow to be patronized by private companies like this.

No, wise, it's none of your freaking business why I want to transfer 100 bucks. It's MY money.