Plaid cannot verify bank account - WISE US Business account

[LeCozzyCraft]

Hello,

I recently switched to receiving payments to my WISE business account because some of my craft suppliers (material) use currencies other than the US dollar. I made the change two weeks ago, and payments have been going smoothly to my WISE account.

However, I just received a notification from Plaid saying that they couldn't verify my bank account, and there's a orange notice in my bank account settings saying 'Failed verification attempt.'

I clicked 'Edit' and updated my WISE account through Plaid (automatic). I received a message saying 'Your bank account has been connected via Plaid,' and I also got confirmation from the Etsy support team that the verification was successful in the end.

But I received a similar notification from Plaid the next day asking me to verify my account again.

I'm wondering what is going on and what I should do to fix this situation. Is this an issue on WISE's end or Plaid's? I never had this problem with my old bank account.

Thank you,

[JMOldeVintage]

@LeCozzyCraft  - A quick google search indicates that Wise is not a bank but a money services business - much like Plaid. In the end that might be the problem.

This is Etsy's article on verifying your account: 
https://help.etsy.com/hc/en-us/articles/115015775908-How-to-Update-and-Verify-Your-Bank-Account-for-...

I don't know if it goes into too much detail on all the fine points but I think it has links to Plaid.

What you may find is that you need to go with a regular/traditional bank account & then make transfers to your Wise account.

[LeCozzyCraft]

Yes, I have read this information as well. However, I see that WISE US is listed within Plaid's automatic verification system, so I believe Plaid supports or at least has a connection with WISE US. I think Plaid should remove WISE from their system if they cannot verify it to avoid this repeated process for sellers.

[CraftyCornishMaids]

etsy only deposits to USA shops, in USA$, with USA bank account numbers

plaid does the verification, so something is not set up correctly

it's not just $,and account iban,- is the name on the wise account, identical to the name on the bank account you had before 

so if it was 

John D Smith      on the old one

it is not

John David Smith

on the new

[LeCozzyCraft]

Yes, I double-checked, and the information matches perfectly. When I searched for WISE in Plaid, it showed WISE US, so I assume they all operate under the same currency unit.

Btw, since the connection is automatic through Plaid, WISE and Plaid should be sharing data. Therefore, if any error occurs, I think it should be reported immediately.

[SugarTaffySoap]

@LeCozzyCraft  Why don't you ask Wise or Plaid  ?? 

[LeCozzyCraft]

Yes, I've emailed them about this issue but haven't received a response yet. In the meantime, I hope to get some help from others who might have experienced this situation.

[PrimFun]

I believe the issue may be that Wise is not a bank and Etsy sets up to use only bank accounts in their system.  So the confusion may be that little difference that Wise is not a bank.  Plaid may work with Wise but essentially they are the same process.  Hope it goes in your favor but you may need to go back to a bank account on Etsy.