TransferWise

I have been using Transfer wise for over two years. They are quick on transferring money and pay good rate as well. However, there are some issues with transferring money from business account to personal account.

It's weird that you would think a company with a reputation would do this, but they did. On the business side, I opened an account with them, they declined that account and I opened a case with the UK ombudsman, fair enough, business is business but, on the personal side, which I opened an account and had funds, they closed my personal account without notice and without giving any reason. The problem is it had funds. I have since addressed them.

This is a convenient and responsive fintech / financial service providing debit cards and inexpensive money transfers worldwide. It lets my customers pay me swiftly. We use them a lot. Also convenient to have one's own bank account number for several currencies each in another country. Only disadvantage is they do not offer direct debit.
Off late though they are becoming a bit more bureaucratic, even for people (potential customers) we referred to them and their rates are creeping up. They are also getting a bit slower in processing transfers in certain cases while in others they became faster. Their communication remains very fast.
So I gave them 4 instead of 5 stars because of these kind of slight deficiencies that before did not occur.

For an unknown reason they said they wanted to terminate my account (that's ultimately their choice I suppose) but there's nearly $2,000 of my money that they have and they won't give it to me.

The initially asked me what account numbers I wanted the remaining money transferred to. I have them the account numbers and they ignored me from then on.

After sending hundreds of emails to them asking where my money was they said I could appeal the decision (what decision? I guess the decision was made NOT to give me my money?)

What a load of crap. I filled in their "appeal" form which simply asked me for my name and then a submit button. It said they'd review my appeal and I'd get a response in 10 days.

What a bizarre process and they're just delaying things and then getting me to take some other step so they delay things further.

I've come to the conclusion that they're never going to give my money back meaning I have to file a complaint with ACMA and take them to small claims tribunal.

Complete SCAM company.

I had no problems for several years until recently, but currently I am unfortunately sure that Wise wants to defraud my money.
I have made two deposits ( a total of almost €900!) from Paypal, both transaction have been cancelled by Wise. One payment was made 6 weeks ago, the other 3 weeks ago. I have not received my money back until now. Support confirmed that my money was there and asked me to send my bank details first, although the refund should go back to the original sender (so Paypal in that case). Next, I was asked to hand over the account details of the person who initiated the previous payment to my Paypal account (data protection?!), which doesn't even matter. At the third attempt to contact the support, here already with the clear announcement that I do not accept any of the previous standard answers, that their request to pass on data of third parties violates the data protection law and that I will take further steps if I do not get my money immediately, I have not received any answer at all.
So Wise is not only knowingly defrauding money, but also trying to get third party data (account data) and thus trying to violate the Data Protection Act.
I can only advise anyone who has money with Wise to look for an alternative as soon as possible.

They make a living because of the failing banking system. Sometimes that goes well.
One of the things that go wrong is the lack of info accompanying an incoming payment.
The FAQ does not give any info about this, so you need to search for their contact form.
The answer is swift and unprofessional: no such info is given. I won't recommend them any longer to any one.

The worst experience I had with the bank so far, they want you to send them tons of the documents, but back you will have 0 support. They blocked my transfers in spring, and in January they promised to freeze my account based on my nationality! So guys avoid them at all costs

I used them because the exchange rate was higher. However they have held up the same money transfer twice. I am in a foreign country on a extended vacation as I am retired and rely on them to transfer my funds so I can pay for medical, food and lodging. This is stressing me. They demand two site verification and ONLY call my USA phone which is unavailable here! Further they have now 'deactivated' my account without notice. Money I need that is being held up by this company. Right now I would not recommend this company to my worst enemies. They do not run this business like a business. Imagine my discomfort after calling their CSR number only to find it isn't working anymore!

I normally transfer a monthly amount of less than 1000 USD from my US bank to my Borderless account. This transaction USED to take only seconds. In recent months, there have been unexplained, senseless, excruciating delays. The latest delay is making me wait 6 business days to get MY money. It's not even being converted; it's going to my USD balance. And Transferwise always blames these ludicrous delays on the banks. They're lying. My bank can transfer the same money in seconds through other services. Transferwise lure customers in with low fees, but then sit on their money, gambling in currency futures with it (this is the REAL way they make a profit) while their customers have to make do without their OWN money. Sometimes they keep their customer's money for good: read the other negative reviews. Dishonest company. Avoid.

Yes, the transfer is quite slow, not as advertised. However, I still like the service as I can request and hold 29 currencies in 29 different countries' banks. I don't think any
Other services offer such for free!

Also, the verification was pretty quick!

BEWARE! This company commits fraudulent theft of its clients money. 4 months ago they stole $30,000 of my money and will not return it. We are now liaising with legal enforcement agencies against the company.

A year ago I tried multiple times to send money to my son in Austria. The site kept having trouble, finally telling the money went through, then a day later telling me that the transaction failed. The support staff tried to help, but nothing worked and I gave up. Lots ot time wasted on this company. I used my USA band and paid its $45 wire transfer fee.

My Debit Card is up for renewal. All verification documents rejected for no reason. Badrul Chowdhury

It has been more than 19 working days since Wise blocked my account, I DIDN'T RECEIVE ANYTHING FROM THEM...

A WISE ROBOT SENT MAIL WITH EMPTY WORDS. I NEED MY MONEY BACK PEOPLE WISE WITHOUT SOUL WHAT YOU ARE

NEVER EVER AGAIN HERE NO WISE... PLEASE READ FIRST ABOUT HIM (WISE) ATTENTION PEOPLE! NO AFTER WHEN DEZACTIVATE ACCOUNT AND IS TOO LATE!

They closed my account giving me 2 months months notice for some unknown reason. The only thing I can possibly think that they would close my account is using Binance while they are under investigation, although not in the UK where I am from. They said I could still use my account as normal for the 2 months although not true. I couldn't receive payments to my account I quickly found out and so its currently stuck in limbo, maybe not receiving it at all. I heard of someone not receiving 58k to their account, luckily mine is a small amount. So beware, do not use wise. Plenty more legitimate EMI's out there to use.

Please everyone trasferwise is made up with professional and well trained people working together to give us what we deserve. I love the service so much.

It has been more than 15 working days since Wise blocked our UK company account with a balance of more than *******€ which we need for our business. As with all the reviews I have read, they claim a due diligence period of 60 working days, i. E. 3 months, in order to comply with their legal obligation, which is totally unrealistic and unjustified for a due diligence!
As for everyone else they closed our account without respecting the legal 2 months notice which applies to all financial institutions regulated by the FCA.

Despite several emails they continue to provide the same more or less standardised response without any justification or request from their compliance department.

I have noticed on many rating websites that many other people or companies have significant funds blocked by Wise ( Transferwise), I setup contactwcase at gmail.com so that people who wish to take collective action with lawyers and contact the FCA in the UK and the AMF in France, to inform them of these dubious practices, can contact me so that we can help each other and put an end to these practices. I call on all those who suffer from stucked funds to share our experiences and see what we can do together. I work with a very large law firm in London which has a financial department specialising in this type of litigation with a very efficient partner, I have seen in some reviews that there are also companies specialising in the recovery of funds in this type of case, if you have already used their service please give us your feedback and how to proceed.

I promise to keep my review up to date with the progress of my case and the information I receive

Message to Wise:
I will not stop until I have recovered the funds of our company.
You have all my contact details.

The company is for big movers not the little guy. Its over for us, To much information customer has to transmit to his bank for transfer through WISE. Create a department where you give permission for Wise to do it for you. If not forget it.

They deactivate account with no good reason. This is such useless when you trust a company to provide your personal data to and all of a sudden they deactivate the account giving you absolutely no reason.

The system once you can get money in works great, however they will take your money for days give you no feedback as to why or when it will. E released if you ask.

If you are in a rush do not use them at all they will keep your money for days. If you have plenty of time before a visit somewhere they are great.
Just don't bother calling customer service for an answer as apparently they don't know and they cannot out you through to anyone who might

It's monkey business. They lured me on the Wise Business account for my start-up. I have a Bank of America account, but international wire transfers are quite difficult and expensive. So, I went through Wise's application process, sent them my IDs, business documents, detailed explained my business they asked many times for new and new info. After all of these, they approved and opened my US bank account and issued me a debit card which came to me in 3 days. Everything was ok, so I connected their account with Stripe, started a business and for weeks I was getting payments from my customers, sent money internationally without any problems.
And I didn't get some big payments usually 500-2000$ per day, but one day Stripe deposited to Wise account like 3300 USD and I checked the Wise account and the payment didn't appear for a day or two which was very unusual. And when I woke up in the morning, I was signed off the Wise account and when I tried to log in, it just said: "your account is deactivated". They never ever contacted me by phone, email nothing, just closed my account, let stripe deposit more money to them. So I filled out and started the appeal process, sent them many many emails to their support, and NOTHING. No response, just getting emails like somebody will be in touch with you within 24 hrs. 24 hrs passed many times and nothing. No response. So they tried to kill my new business, took money from the stripe (they stated that they need to do due diligence and maybe they will return my money later don't know when...).
So, please, especially business owners. DON'T USE WISE FOR BANK ACCOUNT.
They will take your money, close your account without any notice and they WILL NEVER EVER respond to you.
I am done with them, so I will stay at Bank of America.
I must say that I provided them with ALL business info, my website, what I am doing and how, explained them everything. I am NOT doing something bad, nothing illegal and bad, just regular business (freight forwarding).
Seems like a complete scam to me. I am out of 5k USD for now and not getting answers from them... Be very careful guys!

My experience with Transferwise is excellent, nothing to add. I have personal and business accounts with them.

Appalling! No matter if you are a long time customer, their verification methods are a joke! They've been holding a transfer for over 3 days after taking my money, because they can't read the passport in the selfie they request as verification. If your doc is small or laminated, you don't stand a chance to be verified. My mortgage payment is at risk of default because Transferwise is holding my money, which is an illegal practice. I requested cancellation of the transfer and they said it is going to take 2 days to get it back. Which makes it a week without being able to access my own money. DO NOT USE TRANSFERWISE. Their customer service is appalling, treating long time customers as potential criminals, after they've been profiting from my money for years. STAY AWAY FROM THEM!