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1. An Academic Study of Wise Accounts: Structure, Functionality, and Use in International Financial Systems 1. Introduction In the modern global financial environment, individuals and organizations increasingly engage in cross-border economic activities. These activities include international education, freelance work, overseas employment, and global trade. As a result, the demand for financial systems that support multi-currency transactions and international transfers has grown significantly. One such

2. system is the Wise account, which is designed to facilitate cross-border financial interactions in a simplified and transparent manner. This document provides an academic and analytical study of Wise accounts, focusing on their structure, core functions, operational mechanisms, regulatory considerations, and limitations. The purpose of this study is to present an objective understanding of Wise accounts for students and researchers studying finance, economics, or international business systems. 2. Concept of a Wise Account A Wise account is a digital financial account that allows users to hold, manage, and transfer funds in multiple currencies within a single platform. Unlike traditional bank accounts that are usually restricted to one national currency, Wise accounts operate in a multi-currency framework. From an academic perspective, Wise accounts can be analyzed as part of the broader category of financial technology (FinTech) systems. These systems rely on digital infrastructure to reduce transaction friction, increase transparency, and improve accessibility in international financial operations. 3. Account Structure and Components A Wise account is composed of several functional components that work together to enable multi-currency management: 3.1 Multi-Currency Balances Users can maintain balances in various currencies simultaneously. Each balance is treated as a separate ledger entry, allowing clear tracking of funds by currency type. 3.2 Local Account Details For certain currencies, the account provides local banking details such as account numbers or routing identifiers. These details allow the account to function similarly to a domestic bank account within specific regions. 3.3 Digital Wallet Framework The account operates under a digital wallet model, meaning that funds are stored electronically and accessed through online interfaces rather than physical branches.

3. 4. Operational Mechanism The operational logic of Wise accounts is based on currency matching and localized fund movement rather than traditional international transfers. 4.1 Currency Conversion Process When a conversion occurs, funds are exchanged using mid-market exchange rates. This process reduces the distortion typically caused by hidden exchange margins in traditional systems. 4.2 Cross-Border Transfers Instead of transferring money across borders directly, Wise often matches transfers locally. For example, a transfer from one country to another may involve receiving funds locally in one currency and paying out locally in another, minimizing cross-border settlement complexity. 4.3 Transaction Transparency Each transaction is recorded with detailed breakdowns, including exchange rates and applied fees. This structure supports financial clarity and informed decision-making. 5. Regulatory and Compliance Framework Wise accounts operate within international financial regulations and are subject to oversight by financial authorities in the regions where services are provided. 5.1 Identity Verification Account holders are required to verify their identity using official documentation. This process supports compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. 5.2 Jurisdictional Oversight Depending on the user’s location, Wise accounts are regulated by different financial institutions or authorities. This ensures adherence to local financial laws and operational standards. 5.3 Data Protection User data is managed under data protection frameworks designed to ensure confidentiality and controlled access.

4. 6. Academic Relevance in Financial Studies Wise accounts are relevant to multiple academic disciplines: 6.1 International Finance The account model demonstrates alternative approaches to foreign exchange and cross-border settlements. 6.2 Economics Wise accounts reflect market-driven exchange rate mechanisms and reduced transaction inefficiencies. 6.3 Information Systems The digital architecture of Wise accounts highlights the role of technology in financial service delivery.