Help! My digital account has been deactivated
Finding out that your digital account has been permanently closed can feel like hitting a roadblock on your financial journey. It’s more common than you might realise. Searching "Wise account deactivated" on Twitter reveals hundreds of account deactivation cases from all over the world1. It’s more than an inconvenience; it’s a barrier to managing your money effectively, especially when you need to make international transactions or when you’re travelling around the world.
Deactivated accounts without reason
An increasing number of users are reporting that their accounts have been abruptly shut down without explanation, leaving them confused and frustrated. Retrieving savings from digital banks under these circumstances can become a tedious and time-consuming process, especially when customer support is unresponsive. Those who have endured the challenges of suspended accounts are advising others to mitigate this risk by spreading their funds across multiple accounts. Additionally, maintaining backup accounts can provide a crucial safety net to access your money should the worst happen.
The risk of residency requirements
Digital solutions have revolutionised the way we manage money, making it easier to transact across borders without the need for a physical bank. However, these accounts often come with their own set of challenges, including the risk of sudden account deactivation due to issues with incorrect proofs of address. One Wise customer lost access to over $20,000 USD for almost 5 months after he saw his Wise account deactivated1. Often account deactivation is due to failing to meet specific residency requirements.
A solution to your closed account
At nsave, we believe that stringent residency requirements should not leave you at risk of losing access to your money. Nor should it prevent you from accessing online financial services. Unlike traditional institutions and platforms that might require you to have a permanent residency in a country other than your own, nsave eliminates this requirement. Whether you're from Egypt, Lebanon, Pakistan, Nigeria, Bangladesh or another country, you can open an nsave account and start saving in USD, EUR, and GBP!
Hear from our valued customer, Lelia, who switched to an nsave account after her Wise account was closed
"I had my Wise account shut down without warning, and it was one of the most stressful experiences of my life. My savings were frozen, and I couldn’t access my money when I needed it most. As someone with a complex residency situation, I was always worried about losing access to my funds. That’s when I switched to nsave, and it’s been a game-changer. Setting up my account was incredibly easy, and I didn’t have to worry about strict residency requirements. Now, I can hold my money in USD, EUR, or GBP and access it anytime without stress. nsave gives me peace of mind—I know my money is safe and always within reach."
Ready to open your own nsave account? Find out the 5 simple requirements to open an nsave account.
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Sources last updated: 6-Nov-2024
