A modern investor goes wise!

  • Industry
    Investments
  • Location
    Cleveland, Ohio
  • Company Size
    2

A modern investor encountered pain points when opening multiple bank accounts for multiple newborn LLCs - everything changed with Wise.

Intro Summary

Lynn-Ann Gries, experienced business investor, helps start and manage multiple LLCs, all of which need bank accounts. Getting these news companies started with banking was time-consuming and cumbersome, until Wise. Lynn-Ann sought to find a banking solution that would transform a negative experience into a positive one.

Before Wise

  • frustration with traditional banking minimum requirements
  • time spent going to the bank for each LLC
  • intensive onboarding experience with traditional bank

After Wise

  • a modern bank account with no minimum requirements
  • time saved with ability to open bank accounts for new LLCs online
  • simple and fast onboarding experience

Challenge

About 4 years ago, Lynn-Ann started a local angel investor group that brings women who support entrepreneurs together to invest in new business founders and help them get started. Part of this process includes opening a business bank account for each newly established LLC.

"I was going to the regular bank - the degree of annoyance you experience with keeping minimum requirements, signing a million documents, having to go to the bank for every LLC is absurd."

Lynn-Ann couldn't help but think that there had to be a better, less intrusive way of banking for managing the accounts for the LLCs.

"I thought, 'there must be a way online,'" said Lynn-Ann. "When I looked there were mostly personal accounts online and I didn't feel there was a viable business account solution."

Solution

"When I found Wise, I wondered if it could legitimately be the solution for my problem - Wise did it." Lynn-Ann quickly adopted Wise as the new go-to bank for future LLCs. Since finding Wise, she's onboarded 3 LLCs to Wise.

Wise was able to solve the pain points Lynn-Ann had been experiencing with traditional banking and other options she encountered during her hunt for a fitting solution. "I thought, 'Wait a minute. I could open multiple accounts, didn't have to have a minimum balance, and I can do everything remotely... sign me up!'"

Lynn-Wise chose Wise to not only save her time when opening multiple business bank accounts, but to transform banking from a time-consuming chore to a quick and easy process.

I was completely shocked by how much trouble I had finding a solution. Wise has been a god send - it's been a phenomenal product for me.

Results

Now Lynn-Ann can know that whenever she needs to onboard a new LLC to a business bank, Wise is there to provide a seamless experience from the start. "I've already opened accounts for 3 LLCs at Wise, and I will open more. Finally, a bank that understands what I actually need.". With Wise, Lynn-Ann has transformed what was a negative experience into a positive one.

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