TransferWise

Don't send Money to TransferWise, You'll lose the money and your account closed without further information. Consumer cannot receive the money. This is fraud and scam company. Please be aware and report to regulator for investigation.

If you look up TransferWise and decide to use them, all I can say is please don't. This is the worst company I have ever had to deal with. They have my money and refuse to give it to me, with this verification process they have made it almost impossible to use their so called services. Do yourself a favor - spend the money and transfer your cash with anyone else. Stay well clear of this company. They are a disgrace.

Don't open a business account with them: ** is my business account. Is the third year that I work with them. Since January all proceed very well. Suddenly I stumble in their "verification team", is not a team, they are 4 or 5 or 6 I don't know how many, that works alone without communications. One ask me one document, then I have to waiting 1 week, then another person ask me some questions, I replied. After that another person ask me another thing after 5/6 working days. Is passed more than 30 days now, I'm still waiting for your "verification". I'll write the name also of each "verification team" person in contact with me: Karen, Adam **, AJ **, Volkan **, Silver ** (from support). Overall they have put the fees more higher than some competitor online that doing the same thing of them. Is cheapest compared to a regular bank account but not compared to other online companies. I can't give the name but you have to googling.

This is a startup company with customer service located in Budapest during the day and in the US during later afternoon and evening time. They have no managers and/or supervisors around. I asked about it. They said they are a startup company and have no traditional organization infrastructure. Thus, you have low level employees who are not fluent in English exchanging money all over the world. Their service is slow, their employees are extremely incompetent and not fluent in English. They will provide receipts with the exchange rate quotes and when they actually exchange the funds they change the rate for a higher rate. That's stealing!! I will never use this service ever again!

I used TransferWise first time today, easy sign-up, charge my debit card in RON and transfer to my euro account just in few steps. I received my money in less than 2 hours. No fee, all free, I used a promo code.

I provided them with the information, uploaded my driver's license and passport. They emailed me when I did that. They emailed me they were going to verify my bank. Then nothing. When I tried to log in, the site said the transfer was cancelled. I call customer service and the only way you can find out why or what to do is email. They have NO customer service person to talk to you about a canceled account. Number 1, why can they email. They got the documents and now what about the cancellation? Number 2, why is there no person to talk to answer my questions, only an email. In the meantime my husband is overseas in a hospital and this company does not even afford me the courtesy of an email. If you really need a money transfer service do not use this one. They cancel your account without asking for any kind of support documentation. They just waste your precious time.

I opened up an account. They said they would transfer money to my bank account for verification purposes. 2 days later I check my bank account. See in the amount went back into my TransferWise account and seeing that I have been deactivated. LOL. I don't know seems like a scam to me.

Attempted to sizable transfer of money ($10,000) on TransferWise. I followed their instructions to the letter when creating and processing the transaction. They gave me an estimate of 2 days to receive the funds. After 3 days passed with no updates, I made inquiries. They indicated they could not locate my money and asked me to provide confirmation from the source bank, which I provided immediately. After 8 days and numerous requests for updates, they stated they eventually found my money "in their system" and because my source bank did not provide enough information, they decided to return the money to said source bank.

I’ve been using XE Money Transfer for years without a single problem but I thought I’d try TransferWise because their exchange rates are definitely better. What a mistake that was and what a horrible experience I have to go through now, all because I wanted to save a few dollars. I opened an account with TransferWise at the end of January and requested a transfer. On Feb 1, 2019 I received confirmation from TW that they received the money and it would be in the recipient’s account on Feb 4, 2019. The following week I had assumed that the transfer was completed and the money was in the recipient’s bank account. When I hadn’t heard from the recipient, I tried to track the transfer through my TW account only to discover it was deactivated. I couldn’t understand why since I hadn’t received any notification from TW regarding this deactivation.

I have been using TransferWise for just over 8 months now. Has been going well with usually at 2-3 days timeframe to complete a transaction. That has all changed in Feb 2019, I have attempted to do a repeat transfer but now it is taking 6 days to complete. I have tried to contact customer service but I suspect there is none, as I have had no communications explaining why this has started to go wrong. As a result now I am having doubts about TW financial viability and will be switching back to a mainstream bank for safety.

TransferWise.com sells fast money transfers that become very slow money transfer for a higher fee, I used this site three times and every time the money transfer sold as a "fast transfer" supposedly transferring money in one day ends up taking 5 days, where a much cheaper transfer fee would apply. It mainly sells a product it does not support.

I attempted to make a transfer via TransferWise as a new customer. First of all, the process was unnecessarily slow because they kept asking me to upload documents I had not been told I would need (pictures of bank statements mailed to my home address, etc.), which delayed matters. Finally got past that, my documents were reported by them as "verified" and my account created.

I gave these guys a shot after being drawn in by their lower transfer fees comparison and it was the worst waste of time I've had in a while. I tried to open a business account with them, provided all required documentation and went on to make my first transfer. TransferWise has an option for receiving funds through a correspondent bank across several regions which lowers the transfer cost to the expense of execution time, which made sense based on typical bank clearance, settlement times. So I used this option.

After reading many reports where people describe their negative experience with TransferWise - here my POSITIVE experience(s): I've been using TW for almost a year now and have done like 10 successful transactions with them (CHF to EURO, CHF to AUD). Values transferred up to 13'000 Euro. The last experience (CHF to EURO): Transfer from my Bank to TW, after two hours I got confirmation from TW. The same day, afternoon, TW confirms money received destination bank account. Within less than 24 hours I got the POSITIVE confirmation of the receiving party. All this at a really low cost. I will use TransferWise again for sure. I can only recommend it.

I decided to go with this company because everything seemed so simple and transparent. I feel like such a fool. I transferred money (a substantial amount!!) and the next day I tried to log in I couldn't. My account was deactivated but the funds were already withdrawn! No way to track the progress or anything, just poof gone. I contacted the CS by phone and was told that they couldn't do anything for me or see anything of my account. (Honestly I don't see the point of having a CS if they can't do ANYTHING of a serious matter!!) I was told to email a specific department instead. Sure enough they say they have the right to deactivate any account at any time for any reason AND they legally don't have to tell you the reason why. They said that I will be refunded my money in 2-5 working days.

The process with TransferWise is great if everything goes seamlessly. If there is a problem of any kind, the customer is screwed. Using TW not only didn’t save any money, it cost me USD 2236+. My bank, with all of its shortcomings, refunded the payment I made via TW because it approved my fraud claim against the end recipient. TransferWise as an intermediary wipes its hands of all responsibility, including insurance cover and straightforward payment flows. It is far less expensive to pay $45 + higher exchange rates to my bank than risk having a problem with an international transaction. I’ve been working internationally for 40-years and sending payments without issue. This experience with TW has been a hard lesson learned. Payments take time via the banking system. But there is accountability, not the digital wild west.

Having trouble buying concert tickets in Poland. Sent the measly sum of £10 via TW. Next day was asked to send copy of my bank's print-out to confirm the £10 was really from me. Well I put MY NAME on the transfer and they contacted ME so surely 2+2 already exists. I am leery of releasing private details so challenged the reason - or thought I did. No response so logged in - surprise - my email and password are not recognized. Maybe I mistyped when signing up so pressed "Forgotten password" button. Over two days I have done that 5-6 times. No contact from TW to my inbox (and I know that address was not mistyped). In the meantime my tickets are being held for only two more days so I'm going to lose 'em or send money by other means. Not a good trial transaction. Glad it wasn't £1K.

After waiting 4 days for our payment I did a search online and found this review site. I must admit I kinda panicked at first, thinking our funds was lost. I contacted customer service on the phone, after speaking with them I received my funds. The reason for the delay was an audit of my transfer to see that everything was on the up and up. Stay calm and let TransferWise handle it. :)

TransferWise sucks. They will freeze your account and hold all of your money. They won't tell you why. They won't give you any warning. They will just lock you out, and then, they will tell you it takes up to two months to get your funds. Your property. Your liquidity. Your vital operational cash. They don't care. Do not do business with these scumbags. Do not trust them with your money. With your receivables. With anything. Avoid them completely. Do business with a real, legitimate payment service like WorldFirst instead.

I have had a borderless account for a while but never used it. Last week I used it to receive some funds in USD into the account. This is what happened: Wire sent to me Thursday (day 1). Shows as pending. Shows as available Sunday (day 4). Sunday shows as available later. Then can't get into app, says "Can't log in. We are working on the issue. Please try later." Tried using a web login not the app, says account deactivated. Called customer services on Monday (day 5). "Nothing we can do. Send an email to appeals." This is a very bad way for this company to behave on my first transaction. No one to talk to and no email alerting me to an issue, just a lying message saying they are "working on it" blatant mistruth. They are not to be trusted if this is the way they behave. AVOID THIS COMPANY, ZERO SUPPORT WHEN THEY MAKE A MISTAKE.

After reading all the negative reviews I still have TransferWise a try. First set up my home Acc in the US and verified my account link. Next I set up an EU account and sent funds from my Spain Acc to TW, no problem. Then sent USD to TW, all good. Set up and moved funds from TW US and EU Acc to an INR Acc, simple. Wired funds to a business in India from TW INR, arrived in seconds! Finally wired funds from TW USD to India bank in INR, again arrived in seconds. The user interface is very simple but you must know what fields are required. Moving funds around is so quick and simple that’s a little scary. I would suggest starting with small amounts and verifying that transfers are going through before moving larger amounts of money.

I am Kadriye **, "sender" of the transfer #** on Transferwise. I am suffered by Transferwise. I got swindled by Transferwise. They have not replied to my emails, and I cannot reach them anymore. According to their last email, my 1000 EUR is lost now. I trusted their advertisements and sent 1000EUR on 14 Jan 2019 to their bank account as seen below. Their confirmation is seen below and said that transfer #** paid out 22 Jan 2019. When we contacted Bank Nordea, they confirmed that there is not any transfer from Transferwise as it seems below. So, my money did not reach to Sweden, and it has not been refunded to my account.

I saw TrasnferWise advertisement and believed them. They said that zero commission and quick transfer. Here is the result: my money is lost! Moreover, it has been 17 days already. This money was planned to be used for "e-commerce trading company opening" making 100 EUR daily profit. Since, the money has not been received, our opening was to be delayed. The money was supposed to be delivered on 16 Jan. So, there is 17-day delay which means that we lost 15x100=1500 EUR because of the TransferWise service.

I spent 5 years working in the US and had to transfer my savings back to my bank account in Germany. It was quite a large sum, so the exchange rate would really make a difference. I compared what my bank offered as the final sum in Euros after the transfer with what Transferwise offered and realized that Transferwise would offer me about 1000 Euros more.

I used TransferWise for the first time after reading an article on it online in BBC just 3 days ago. I had some money left (just 275 pounds) in my account in the UK that has been sitting there and I wanted to transfer it to my bank account in Malaysia. TransferWise charged about 3 pounds and gave me the actual exchange rate at the day, so it seemed as the perfect solution for this small transfer. I wired the money from my UK account to TransferWise, and my account reflected that immediately that they've received the money. My account also said that they should pay out to my Malaysian bank account in 23 hours.

If you make such an easy to do mistake as you enter your receiving bank account even just one digit wrong, your money will be gone! I was looking for a quick way to transfer a considerable amount of money (9000€ is considerable to me) from my bank account in Sweden to my bank account in Vietnam. Decided, most unfortunately, to try TransferWise.

TransferWise is not set up in a responsible manner to safeguard the sender of funds. My experience using them one time basically caused me to lose $50. Details: I sent money to a recipient in Indonesia, however, the recipient claims to never have received the transfer. TransferWise says it was sent. I don't know who to believe, but TransferWise DO NOT HAVE A MECHANISM to withdraw or take back the funds, and they also refuse to contact the recipient. So, I didn't get the items I ordered from the Indonesian seller, and I am also out the $50! I called them (888) 908-3833, and their only remedy was to offer me a free future transfer, but I am afraid that I will get ripped off again. They need to rethink their business model, so that this can't happen to people. Good thing I wasn't sending a larger amount.

I wanted to send some cash to my son and his wife in Scotland. They took my $2,500.00 on December 28, 2018 and "deactivated" my account two days later. Phone support will only tell you to email. Email responses have been that "they reviewed my file and decided to keep the account closed". They say they cannot tell me why due to federal regulations. I got this same response to my five emails I sent requesting the status of my funds. No information about my money or when I can expect it to be returned. This morning I was told by phone support to have MY bank issue a recall (at my own expense of course). Horrible customer service. I'll be filing a complaint with the federal banking regulators.

I decided to try them and transferred $10,000 to my Japanese account in Japan Post Bank. This is a very large and well established bank in Japan, and as of 2008, the world's biggest deposit holder. About a week after the funds left my American account, TransferWise stated that my transfer was "completed" and that I would see the money in my account "by the next day".

I am extremely disappointed by the Multi-currency MasterCard. I was charged in the wrong currency, and charged fees for this - and customer service treated me like an idiot rather than trying to understand what was not working with the product. The transaction was via PayPal - which I had used before, and it had worked a few times - and on the PayPal side I was charged in USD, however TransferWise then charged my EUR account in GBP (thus collecting extra fees not once but twice).