How to Open a Business Account with Wise?

This article is for you if you are having difficulties opening a business account with Wise due to your nationality or place of residence. I will help you understand this issue and offer a solution that I have experienced firsthand.

You should already have a company registered in the UK through 1st Formations. If it’s not ready yet, please return to this article later.

Now that you have a company in the UK, you may encounter a problem where Wise does not accept your ID documents. Any attempts to persuade support to accept your documents are likely to be refused.

The solution to this issue may not be the easiest, but it is affordable. However, there will still be some costs involved. In my experience, this is a solid option for starting an e-commerce business internationally.

In short, you will need to obtain a driving license in Georgia by traveling to Tbilisi for a period of time. This solution, which you can find more information about on Google, has been available for a long time.

I personally tried this method to open a business account with Wise, using company documents I registered with 1st Formations and a moped license I obtained in Georgia in just a couple of hours by passing only the theory exam with no practical test. You don’t need to pass a driving test; you only need to pass the theory.

The main cost will be the flight. Now, I will tell you more about what I did and how much it cost. I’ll share photos that clearly show I obtained my moped driving license in Georgia.

Passing the test and obtaining a driver’s license

To obtain a moped driving license (category AM), you only need to pass a theoretical exam in English or Georgian, consisting of 20 questions, and gather the necessary documents.
A total of 338 tickets are categorized by topic and available through the official Georgian source. The website also offers an English language option.
Study all the tickets in advance; this may take 1-2 evenings or more. Then, purchase a ticket to Tbilisi. Bring cash (dollars or euros) to exchange for the local currency — GEL.
In Georgia, you can use familiar services like Uber or the local app Bolt, paying with cash or a bank card. A trip from the airport to the center of Tbilisi will cost no more than 30 GEL. Taxi drivers understand and can communicate in English.
I recommend purchasing a Georgian SIM card from a Magticom showroom, also known as Magti. I bought mine at 2 Pekini Street, Tbilisi. You will need a foreign passport for the purchase. You can request an eSIM on the spot. Afterward, install the MyMagti app and log in with your new number. When you leave Tbilisi, be sure to enable roaming in the app settings so the SIM card will continue to work. Keep an eye on your balance, as it can be topped up with cryptocurrency through our new Solo service, where Magti is also represented.
If you are planning to stay in Georgia for longer than two weeks, consider opening a multi-currency bank account with Bank of Georgia or TBC. I have good contacts who can assist with this, so feel free to reach out to me via direct message or chat. A bank statement will help you confirm your address, for example, with Stripe.
Head to the Georgia Department of Internal Affairs Service Agency. You can check the hours of operation here and find the location on the map here. Cabs can be called to the Drivers Licensing Center of the Georgia Ministry of Internal Affairs or to Autopapa, which is located in Rustavi.
Before taking the exam, we need to obtain a medical certificate. It’s located a few buildings away from the Service Agency, in a long glass building with brightly colored signs that say “Med”. On a map, it looks like this: link. To get the certificate, I had my eyesight and arms checked, from hands to elbows. When receiving the certificate, make sure to carefully check your name, surname, category (it should be AM), and the certificate number (it just needs to be present). For example, they didn’t include my passport ID on the certificate. Take your time to verify all the information carefully.
After that, go to the Service Agency with the certificate you received.
Before you approach the reception, open Google Translate on your phone and type: “Hello, I need to pass the AM license”. Translate this into Georgian and show it to the receptionist. Unfortunately, the staff at the front desk only speak Georgian, so if you don’t speak the language, this will be your best option. You will receive a ticket with the window number.
Wait for your turn to the left of the reception. All procedures are conducted in one place, so you won’t have to walk far!
When your number appears on the scoreboard, go to the right window, show the translation on your phone again, and confidently explain in English that you’re there to get your AM license.
Then pay for the translation, passport certification, and exam fees. Sign the three sheets, take a photo, electronically sign, and head to the frosted glass door to the left of the windows where you checked in. The process goes by very quickly. There is usually an inspector at the matte door who will let you into the exam and check to ensure you don’t have headphones or other recording devices.
At the exam stage, everything is straightforward. Passing the questions took me no more than 10 minutes at a relaxed pace. The exam consists of 20 questions, and you have 30 minutes to complete it. After the third mistake, your attempt is over, and you will have to go home—you will have failed the exam.
If you passed the test, tell the young man at the exit that everything went well and that you would like to get your license. He will direct you to a free window. You will need to pay for the expedited license production, wait for about 5 minutes, and enjoy congratulations from the cab driver on the way back.
From Rustavi to Tbilisi, you can take shuttle buses or order a cab through Uber or Bolt. You can also usually find many cab drivers on-site, but their prices tend to be higher than those of Uber or Bolt.
That’s how I obtained my driver’s license on September 18, 2024, which helped me open a business account with Wise as part of my experiment with a company incorporated in the UK through 1st Formations. I’m glad I was able to test it out in person and write an article!

Opening a business account with Wise for a company in the UK

Now, with the necessary moped license, you can verify your identity and open a business account with Wise.

Enter your company details from the registration documents available in your personal 1st Formations account.
During the identity verification stage, select Georgia as your country and choose your driver’s license as the document.
Please upload photos of both the front and back of the document.
There’s a fee of about $60 to open an account.
Congratulations! You now have a company in the UK and a business account with Wise.

Conclusions and Costs

You can spend about 200 GEL (100 GEL for a round-trip cab from Tbilisi to Rustavi, 25 GEL for obtaining a medical certificate, 6 GEL for passport translation and certification, 16 GEL for passing the exam, and 51 GEL for quick license production) or about $70 to obtain the right to drive a moped in Georgia. If you take into account the flight and accommodation, the overall costs will be higher.
Opening a business account with Wise will cost you $60 at the time of writing. When starting a company with 1st Formations, I chose the non-resident package, which cost $200. My total expenses amounted to $330. Add flight, lodging, and food expenses to that amount, and it becomes clear what kind of budget you’ll need.
When you obtain the right to drive a moped, you receive an ID card that provides access to international banks and financial services. You can also use this license for verification with Stripe and Facebook.
It only takes 2 days to prepare, and you can enjoy the benefits for 15 years.