Wise has done repeated verifications for me over time, including as I’ve moved countries, temporarily blocking or delaying transactions more than any other institution I’ve used. They have to follow these rules too. To their credit, they’ve eventually unblocked or approved everything I’ve attempted, since of course it was all legitimate. But it has been a pain in the ass multiple times.

Also, sometimes you need a local bank account because of local country-specific reasons, such as developing a history with the local credit agency (this can include even regular deposit accounts), or avoiding problems from payment websites that expect you to have a local in-country account (quite common in the EU even though that’s illegal).