What is Wise?
Updated over a week ago

What is Wise?

  • Wise is an online money transfer service that allows you to send, receive, and manage your funds internationally with lower fees compared to traditional banking methods. With Wise, you can enjoy transparent and real exchange rates, ensuring that you receive the most value from your payouts.

Here are a few benefits of using Wise:

  1. Receive payouts within one (1) business day*

  2. Payout options in either USD or your local currency**

  3. No monthly fees and fixed transaction fees***

What if I don't have a Wise account?

  • If you don't have a Wise account, you can still request your next payout to be with Wise. Once the payout process is complete, you should receive an email from Wise saying funds are available and to sign up to gain access to the funds. The signup steps will be included in the Wise email.

Will I need to create a Wise account each time I earn funding?

  • No, you do not need to create a Wise account each time you earn funding. You will only need to create a Wise account once and the same Wise account will be used for all Funded Level Accounts. Please use the same email for your Topstep profile and Wise.

What if I already have a Wise account?

  • If you already have a Wise account with the same email as your Topstep profile, no new sign-up will be required. If your Wise account is using a different email address, please contact our Support Team for further assistance.

Are there any fees when using Wise?

  • There are no monthly fees when using Wise. A fee may be charged by Wise when selecting a certain payout method or currency. Converting currency in your account will be subject to fees and vary by currency. Additional information can be found here.

How long do I have to claim my funds?

  • Wise provides 7 calendar days to create or log into your account and claim your funds from Topstep. Any funds that are unclaimed after 7 calendar days will be canceled and refunded to Topstep. If you are unable to claim your funds, please contact our Trader Support Team for assistance.

How do I request a payout?

  • You can submit a payout request from your Trader Dashboard by filling out the Payout Request Form. If needed, you can review Topstep's Payout Policy here.

Where can I find more information about Wise?

* Different payment methods or routine checks may occasionally affect transfer delivery times. Wise will always keep you updated, and you can track each step in your account.

** You can check for the types of payments you're able to receive depending on your local currency from Wise here.

***Receive funds within one business with a small transaction fee of $0.39 for a USD to USD payout request. Other currencies will have a fixed fee and may receive a conversion fee. Additional information can be found here. (edited)

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