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As an international student I have used TransferWise to send money from Brazil to US where I'm studying. I created my last transfer on 13 Sep because I'm in living in North Carolina and need to money fast due to risk caused by the arrival of the Florence hurricane. I was requested this time to attach additional documentation for verification. I did it as requested (otherwise system does not complete the transaction) and also made deposit on same day. The information received was that they would review my documents by 14 Sep and I should receive money on that date.
I had not received the money and have not received any feedback so since 14 Sep and have been calling them. First I was informed only on 17 Sep on my 3rd call that one document was missing. I resubmitted this on 17 Sep and was informed they would validate and send money in 24 hours. Today 18 Sep no status changed and called again and only get information they will validate and tomorrow I should listen update. Bottom line is that since 13 Sep I have send my money to cover additional expenses caused by the hurricane, I had to evacuate home and keeping calling them despite my condition and now 18 Sep I do not have any idea when will receive it. Please do not trust their promised dates because if your transaction requires actions from their internal areas before proceeding you can expect delays and their commitment is not maintained. If you have obligation or urgency with the money you need to consider other alternatives.
I opened account with TransferWise under due process. I also made the attached transfer on Sep 14, 2018. Initially, I thought the beneficiary would receive this payment within few hours as earlier stated by TransferWise. On tracking my transfer, it showed the fund would get to the beneficiary on Sunday being Sep 16, 2018. Today, beneficiary complained that he has not received this fund. I tried to track this payment few minutes ago, I am surprised to find out that my TransferWise account has been deactivated. My money already left my account since Sep 14, 2018, and an e-mail they sent on Sep 14, 2018 already with my money. Kindly help contact TransferWise to release this payment to the beneficiary immediately.
I wish now that I had read all of these recent reviews before trusting in TransferWise to send urgently needed money to myself via my partner. Similar to many others complaining here, I used TransferWise previously and the experience was great, I had the money within just a few hours for minimal fees and good rates. However my experience this time is that it is now 2 weeks since my partner sent the transfer, and not only have I not received it, but I now believe there's a possibility the money may be lost completely.
Every time we have contacted TransferWise about the delay we are told it will arrive 'no later than' a set time. That day passes and then perhaps we are another step through the process but we are then faced with another delay, only to be given another set time the money will have definitely arrived by (spoiler - these dates all passed and the money never arrived).
I am in desperate need of these funds, and have been completely screwed over by TransferWise. I cannot even help my situation as they will not speak to me about the transfer (only my partner) as I was not the official sender. Having read these other reviews which are extremely worrying I will be doing my best to try to cancel my transfer / retrieve the money and send it another way even if that means fees and poor exchange rates. I will be doing my best to spread the word that TransferWise are NOT to be trusted, and encourage others to do the same.
Thank you for taking the time to provide your feedback. We understand the urgency and importance of your transfer. We do our best to provide a recipient with the most details we can, but due to our privacy agreement, we can only speak in detail with the sender.
If there is still an issue with the delivery of this transfer, we will be more than happy to help the sender find a resolution. Have them reach out to us if they still need help.
This is my first experience using TW and surely will be the last. The money left my international account on the 7th of September and I still haven't received my money in the account I sent it to, and even worse, nobody called/emailed to let me know what was happening. I got hold of someone from CS on the 11th, a lovely person, who advised that I would receive the money today. Well, today is gone and haven't got it yet. TW Folks, if you do read it, look into my issue ASAP as I'm going on holidays on Friday and if the money is not in my account it will really ruin my holidays and I will let everybody know how terrible your service is. That is a promise!
Thanks for your feedback. I was able to find this transfer, and see that we couldn't complete the deposit since we didn't have the complete recipient account number. Thanks for providing us with the correct number. We paid out to your account on September 13. Please see the email that my Support colleague sent with the transfer receipt included.
If you have more questions, please let us know. We will be happy to help.
I sent a substantial sum of HK dollars through TransferWise to be paid in CHF to a recipient in Switzerland. My Hong Kong bank can demonstrate that the transfer went through and that TransferWise received my funds into their local Hong Kong account. But TransferWise claims they didn't receive it in their "system". Their "customer service" consists of blaming the customer. Although the phone representative acknowledged, based on bank statements that I supplied, that I made no error, the accounting department insists that whatever glitch occurred must necessarily be my fault, not theirs.
Now the onus is on me to recover the funds. But because there is no question that my money was placed into a legitimate recipient account, my bank tells me it will be a possible drawn-out process to recover the funds, might feasibly have to go to arbitration, and even in the best case scenario of a quick refund, will cost me at least US$35 in fees. Meanwhile, I've missed a payment to Switzerland and must use a very expensive express wire transfer. Do not use this thieving service which blames customers for their mistakes!
Thank you for your feedback, I am sorry to hear that you had a poor experience. We do everything we can to help locate the funds that a customers sends to us. Sometimes, we have to ask for documentation to assist in locating the payment, in the event it was paid into the wrong account or we don't see it in our account. And we will do everything we can to collect or return the funds.
If we can help in any other way, please let us know.
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Do not sign up with TransferWise... I used to be happy with the service until lately the experience has been worse... I should have been getting my salary on the 24th August in TransferWise borderless account. However I did not receive any credit on Friday. I called customer service who did not know how a BACS transfer works. Upon several calls I got hold of a guy who actually knew it, however I was told to get documents like company bank statement showing money debited which is insane. I send all confirmation from my employer that all was fine from their end. However TW responded me with saying they never received the money. Suddenly on Monday I get the credit. I get a call from Customer service saying there was a Human error on TransferWise which caused the delay.
Due to this delay I had to cancel my holiday which was paid partially around 6k pounds. I raised a complain just to get a response in 1 week with loads of lie. The response said I got my salary just one day late on the next working day which is incorrect as I received on Monday which was a bank holiday. The complains officer just made up the story that there was technically issue and few BACS transfers were affected. However the Customer service had already confirmed on Tuesday that only mine was affected and the person is also given training. So the complain officer cooked up this story. Worse the outcome was to give 25 pounds of fee waiver for the inconvenience. TW should have taken responsibility for the error caused by their employee as compared to complains guys written a script to cover up the facts. I am taking legal action against the company. I would advise others to stay away and do not trust them with your money.
TransferWise, through sheer incompetence, has turned what should have been a most simple of transactions -- sending $30 to India -- into a nightmare. The only thing they successfully did was debit the money from my account. After that, they told me the transfer was being reviewed. This begs the question of why they wouldn't review it before debiting money like Western Union does... 3 days later, I try to log into my account only to be told my account has been deactivated. No one at customer service could or would help.
When I emailed the appeals department, their response was curt and vaguely offensive. No proper explanation was given as to why my account was shut. Worst of all, my money is STILL MISSING. Thank God I trusted my gut and only sent a small amount to see how efficient their service is. Needless to say, I will NEVER trust this service again, and I would strongly warn others against using TransferWise. They are both rude and shifty in their business practices. These are not the people you want to trust with your money.
I'm sorry to hear you had a frustrating experience, as we don't intend that to be the case. We review most transactions prior to accepting payment, but sometimes our partner bank or recipient's bank require additional verification. We don't know about this until after the transfer has been initiated.
I'm sorry to hear that you felt our support to be rude and less than expectations. We appreciate your feedback and take it very serious.
When trying to send funds to clients in USA the transactions were refused on both occasions. Customer service will simply read you a canned response saying they don't know why the recipients are not allowed to be added and it very rarely happens. I'm on 100% declined so obviously not that rare. The latest recipient they will not allow me to pay is my Lawyer in California. I don't see anything in the contract that says they can block payments to certain banks or companies when they want to. No point in having the account and holding US$ if I can't pay my US clients. I'll now have to use HSBC and get hit for charges which I'll then claim back from Transfer(UN)Wise.
Thanks for your feedback. We are happy to send to a recipient of your choosing, but if we have difficulty completing a transfer to the account details provided, or their bank indicates that the bank details are closed, no longer valid, or not active, we block transfers to these recipients so customers don't experience any issues attempting to complete a transfer.
Thank you again for our feedback. Kind regards,Patrick
My first clue something was wrong should have been when they required my bank login for an ACH transfer... that has never been necessary for ACH, just a routing and account number. You don't even need an online account to do ACH! But I didn't listen to the little voice, and now my money is in limbo somewhere, with no communication and their website stuck on a single screen with an endless spinning logo. I hope I can get my money back and transfer it through a more reliable method and I hope this review helps someone else avoid experiencing the same difficulties! Now it's time to go change the account credentials I foolishly gave them and find out from my bank how to protect against any future withdrawals.
Thanks for your review. In order to pay via ACH, we link you to your online banking to prove account ownership, which is required to complete an ACH payment. Payments have to be made from an account that matches the TransferWise profile holder's name per compliance guidelines. We don't store your log in details, nor do we use your payment method for future payments unless you initiate another payment.
Thanks again for your feedback. Kind regards,Patrick
I have dealt with them over a dozen times and everything was not always fast but at least was always without complication. However, my last transaction was a disaster! 3 DAYS after they received my money, a first request "Please provide your bank statements". I did right away. 3 MORE DAYS after sending them my bank statements "please provide your payslips" then another 3 DAYS after that, "Please provide bank statements of the investment account the money was transferred from"... I did, and finally 2 days after, "sorry we can't accept the transfer to that recipient"!
But they had accepted many other transfers to that same recipient before and there was no way for me to prove them they were making a mistake! That was it, "Sorry, we understand this was all very slow but we will be issuing a refund and there is nothing else you can do about it"... Then I had to wait another 3 more days before they actually "issued the refund"... Now I still have not received my money back into my account.
Throughout this ordeal, their website reported false information about what was happening with my money: "Your money is being transferred", "The recipient will get your money tomorrow" etc. I have called them up on the phone 3 times but each time the person was 100% incapable of doing anything to help! It was always another department that could not be contacted by them or by myself or "I will put a rush on it and I will be getting back to you tomorrow", but then nobody follows up for days. If your dealing with small amounts, maybe all this would not be nerve-racking... but dealing with larger amounts, this level of "disconnection" to what is happening with your money is totally unacceptable!
Hi Dominique, good day. I'm sorry to hear about your most recent experience, especially after several successful transfers. We definitely don't want you to experience delays and poor service, that's not how we are set up to do business. We want you to feel confident whether you're sending small or large transfers, so I am truly sorry that this transfer didn't go as you had hoped. Please let us know if the refund has not shown up yet.
I mistakenly bank in cash HKD5823 to their designated DBS account in Hong Kong without noticed that they do not accept cash. Within hours after the deposit there were no one response to my mails (1 online 2 via gmail), chat request and they don’t take call to Singapore. DBS bank kept calling them. No response. I emailed the bank in slip to their support personnel. Up till last night Aug 8, they still saying they are waiting to see if 'money reached'. This is ridiculous. Cash bank their account with solid proof. They didn’t reach out DBS to approve refunding money to bank in person. There is NO PROTECTION of customers' money. They seems having people in London to answer call but their reply is not helping and taking a delay approach. DON'T TRUST THEM. PARTICULARLY ANYONE FROM HONG KONG.
Hi Elsa, good day. I'm sorry to hear of your experience so far. While we don't have an active number in Singapore, we have an office in Signapore and Support members call call out to you at your convenience. And we can definitely work with you to help locate the deposit. You can also find additional active Support phone numbers here: https://transferwise.com/contact
Please let us know how we can help.
After 6 days and no payment - I recently used TransferWise to send money from US to Brazil. I send the money by wire transfer on Aug 1. Received an email that the funds were received and that they would pay in 15 hours. Since then there is no money and in their app it is mentioned that the transfer were complete!!!
Hi Gilberto, good day. This is definitely a concern. We will do everything we can to help with our transfer. If you haven't already, please call us or write us at firstname.lastname@example.org. We will do everything we can to research this payment. You can find out contact numbers here: https://transferwise.com/contact. Please let us know if there's any more we can help with.
Established an account with monetary transfer firm called "TRANSFERWISE". Set up an account and provided information they required. Received an email verifying receipt of my documents and thus I decided to transfer USD to my Thai bank. Decide to only transfer $1000 because I had never used the TRANSFERWISE account previously. I initiated the transfer from my Mastercard to the TRANSFERWISE site and confirmed the transfer to TRANSFERWISE did indeed occur.
I then received an email from TW (TransferWise), that the funds did transfer into their account. THEN...nothing happened. One week passed and I attempted to contact TransferWise and inquire about the issue. All I got from TW was that my account was deactivated. Called to TW were met with a mono tone individual that told me that had no information as I did not have an account. Emails to TW were replied with, "we have no record of your account". The funds have not been returned to my account.
Hi Inn, thanks for the feedback. I'm sorry to hear about your experience. Please contact email@example.com for more help. Also make sure you're emailing from the email address that you used to register with us. We will do everything we can to locate your account and answer your questions. We can also confirm receipt of the payment, as well as refund of the payment to us.
This company should NOT be trusted. I am so upset that I did not use a legitimate bank instead. I am missing $4,000 that I used this company to transfer that never arrived to its destination. The only thing TransferWise keeps saying is that they sent the money and cannot help any further. Sorry but when I use this "service" isn't it their job to make sure the money arrives!?? I am opening a lawsuit against them and hope other people learn to just pay your bank the $40 wire fee because you may lose a lot more.
Hi Irena, good day. We are in business to complete a customer's transfer, not lose your money. If there is an issue with paying a recipient, we will provide transfer receipts, bank documents, trace ID's, etc to our customers as proof of payment. We will exhaust all options if needed when there is an issue with the payment. I'm sorry you've had this experience, but please consider reaching back out to our Support team for more help.
What has happened to TransferWise. We have transfers that have disappeared now for more than 7 days. Account has not been deactivated. When you call or write customer service they tell you only there is a technical problem and they have no update. On the phone they are Very Rude, it seems they do not care. They will not advance you to a supervisor or the legal department, it is just a Wall of nothing. 7 days and still no transfer and no accountability from TransferWise!
Hi Avi, good day. I'm sorry to hear of your experience. We want your interactions with us to be excellent, not leave a bad taste in your mouth. Whether you call us or email/chat with us, we do our best to find a resolution, so I am sorry you felt like you received no help. If you still need assistance, please consider calling us or emailing us at firstname.lastname@example.org. We are more than interested in helping.
They took my money then disabled my account. It is deactivated. When I went to sign back in to send information they wanted I discovered my account had been deactivated. I now have to send them a letter asking why they deactivated my account? As of yet I have received no answer and I will be very surprised if I even get one Back. Thank God I only sent 100 dollars but I want that money back. The information they had asked for was me with my passport picture beside my face. I took it and when I went to send as I said I could not get into the account. It is deactivated.
Hi Marylin, thanks for the feedback. I'm sorry to hear about your experience. Account deactivation's can occur due to a number of reasons. Some of the reasons include but are not limited to security concerns, violation of our ToU agreement, attempts to buy banned or illegal goods, attempts to buy crypto currency, or detection of multiple accounts by the same person. If you didn't get a response, please contact email@example.com for more help.
My daughter is currently abroad on a study trip and suggested that I use TransferWise to transfer some money to her. She sent me a link via email to join Transferwise and get my first commission free transfer. I went ahead and sent the money from a prepaid card into her UK account and everything seemed fine at first, I get an email saying that Transferwise received the money and that it was going to be paid into the recipient's account in a matter of seconds, yes SECONDS they said! - Two days later and although they took the money from my debit card (straight away), the funds still haven't reached my daughter's account and on top of that they deactivated my account!
I rang their call center to ask for an explanation and they were completely useless. They couldn't tell me why my account was deactivated or when the money would be paid back into my account! I explained that my prepaid card (which is not linked to any current or savings account) will expire on 30th June which is tomorrow and that I needed the refund to be paid before that, but they said that they can't speed up the process and they can't do anything about it. It was like talking to a brick wall - so frustrating!
Transferwise people: if you are going to deactivate my account for no reason at least refund me the money immediately without causing further inconvenience! and if you are deactivating the account, why did you take the money in the first place? I also contacted you via email to firstname.lastname@example.org and email@example.com but no reply whatsoever! Has anybody experienced similar issues with this company? Are they a bunch of money stealing scammers? My daughter is now stranded in London with no money to pay for her tickets back home. I am furious! Ready to take this further and file a formal complaint with the Consumer Ombudsman.
Something has changed with this company recently. They used to be super reliable, fast and easy for transferring money. I used it regularly and was always really happy with the service. Now the exact same transaction that used to take seconds, and was easily tracked, now still says it will take seconds or minutes, but actually takes days, and no one in customer service can give you any information on where your money is in the process. The messages you receive on either email or via the call center are vague or misleading. This company used to be an excellent disruptor in the money exchange industry- now seems to be the same as the rest.
We appreciate your feedback. Our goal is to provide a great product, exceptional customer service, and to give an alternative to the old ways of the banks. If we aren't doing that, I apologize.
We recently updated our transfer tracker and working on improving the accuracy of the delivery date. Delays and vague information aren't good. Our Support should be consistent and informative; please let us know when you don't get the information you need.
The transfer was marked completed on 6th June 2018. On 8th June, TransferWise request for additional document as they informed me the receiver government bank want these details. Additional details submitted to TransferWise on 11 June 2018. After that day I sent 3 emails and 3 calls to customer care. Customer care said we don't have any update, we can contact payment team and give you the update but till date no update.
Good day. Thanks for your feedback, I completely understand your concern since there's no update. The review can take a few days depending on what our partner bank or government agency needs to validate.
If this hasn't been resolved, I encourage you to reach out to our Support team for more updates. We will do our best to find a resolution in a timely manner.
Hello. Please does anyone know how long it take for a TransferWise transaction from AUD to ZAR takes for an AUD payout using a debit card. My relative sent me payment using the TransferWise, and it was advised in my message that my friend sent me fund and will arrive in my account shortly. Estimated date of arrival is 11th June 2018. Transfer was initiated on the 9th but it hasn't arrived yet. The status of the transfer is labelled completed, but money hasn't arrived in my account. TransferWise team please kindly advise what is the hold up. Thank you.
The currency route you mentioned should only have taken about 1-2 business to complete. Since you're not seeing the deposit in your account, I would suggest asking the recipient to provide you a transfer receipt. You can provide the receipt to your bank for further research, plus the transfer receipt proves the transfer was completed.
The sender can call us any time for further help, and we will be happy to help them.
I have used this service before most of the time without issue. Lately they do not provide the same efficacy. One transfer can go quickly and another may take days. When you call you cannot get anyone who can give you an answer as to why. What you get is no logical reason and a bad attitude. DO NOT USE THIS SERVICE IF YOU NEED THE FUNDS TO ARRIVE QUICKLY.
Thanks for taking the time to give us your feedback. We don't want your experience to decrease as you continue your business with us.
Transfers may move at different speeds for different reasons, such as payment method and currency route.
Our company is built on transparency, including details our Support agents provide. I'm sorry that your experience with Support has been inadequate. Our goal is to get you the information you need when you need it.
I had good experience with TransferWise in the past, but as of lately they have introduced additional questions like the origin of funds WHILE the transaction is in process. This caused their system crash more than one time and resulted in duplicate transactions. Also, their emails come a day or so AFTER you make a transaction so, unless you see the website say "your transaction has initiated" (and in my case the site crashed and nothing appeared) there is no way to know that the money is sent.
Tried to resolve it with 3 reps, nothing, until finally the last one in the US said, nothing we can do, you have to ask the recipient to refund you the money. No answer to 3 or 4 emails, nothing. Representatives in Europe use internet phones with terrible connection, every word comes back with an echo, they are polite though, but not much help. There has to be some protocol for erroneous transactions, but apparently there is none with TransferWise, so be prepared to lose a large amount IF their website crashes.
Good day, thanks for taking the time to give your feedback. We definitely want your experiences to keep improving, not degrading.
To remain compliant, there are times we have to ask for additional information as we are a licensed financial institution.
I'm sorry about the issue with the phone quality, we do use VOiP and this can be impacted by internet issues.
I hope you'll find value from our product and your experiences will meet your high expectations.
These people are full of ego. Your transfer information will go to wrong email addresses, compromising your privacy. When complaining about it, they will use their powers to stop/block your account just to feed their own ego. The customer service operators will provide you with wrong, misleading and deceptive information in terms of your account details, such as address verifications, ID verifications etc etc. The managers will disconnect the call on your face.
I realized my money was never safe in their hands as they let people transfer money via their platform without verifying their identity and details in full. You would notice that the app is too easy to use but it comes at a cost. The security of your money and the privacy of your transfer information. An app that lets people transfer money internationally without verifying their identity in full and send account related information to wrong email accounts cannot be a safe online portal to be used for overseas money transfer. I wanted to get in touch with the head office of TransferWise to escalate my concerns but no one from TransferWise provided the contact number or email address of their head office. They can’t be trusted. Never again.
Thank you for your feedback. I'm sorry to hear that your experience was below standards. That is not the experience we want customers to have.
We strive to keep your information safe, and verify customers as part of their sign on process and transfer flow. This has to be done in order to keep in compliance with the licenses we carry. I am sorry you feel as if this was not secure enough or misleading.
I am NOT a client of TransferWise. However to cut a long story short - We as a business received proof of payment from TransferWise that funds were meant to arrive on the 26th April. I found out the sender missed a digit in the account number!! Now TransferWise is saying "If an incorrect account number was used then the money is going to bounce back to TransferWise. When this happens or if it already has, then the sender can update the details and we'll be able to process the transfer." The sender refuses to reply to our emails requesting the above!
Then TransferWise says "Our system recognizes that the account number is incorrect only if there is something really wrong (that certain bank does not have accounts with digits that long or short, etc). Proof of payout shows that we sent out the payment to the bank, but it could be 1) stuck in their system because there is nothing that matches with the numbers sent to them, 2) money gets deposited to a wrong bank account because they do not check if the name and account number matches. In most cases money does bounce back to us, but that is only in cases when the bank realizes something is wrong and rejects the payment."
Clearly this should not be my problem that the sender even is allowed to put in the incorrect account number/miss a digit - Surely their system shouldn't allow this!! No one from TransferWise is bothering to contact the sender on my behalf and tell them to resolve the issue! They won't help me or give me information because they say I need to be a member!! So now we sit with funds unpaid and neither the sender nor TransferWise will take responsibility for it!
Thank you for your feedback. I'm sorry to hear you had issues with the money being sent to you. As you're aware, we can't provide many details to the recipient, but we can absolutely send an email to the sender asking them to follow up with the issue.
If you would consider it, please reach out to our support either by email at firstname.lastname@example.org or by calling us. Our contact numbers are here: https://transferwise.com/contact
I'm trying to transfer money to hold a bed and breakfast in the Netherlands. This process has been a complete nightmare, taken an incredible amount of time, and I wouldn't recommend their service to anyone! First, they didn't get the money there on time. I started the transfer on the 7th, they guaranteed delivery on the 9th, and on the 10th they were still asking security questions. Second, the security questions they asked were frightening! They wanted me to verify my dad's occupation. Then they wanted to know all my sources of wealth including inheritance and investments.
Third, their on-line interface is deceptive about how much the transfer actually costs. Depending on the type of transfer you pay a higher fee. However, they don't allow you to go easily go back and change amounts. The site is very cumbersome. Fourth, they only write back every 24 hours, and so if there is a problem you can't fix it in a timely fashion. Only use this service if you are desperate! They have some issues they haven't worked out. It will take a ton of time and you will be asked many personal questions!
Thank you for your review. We appreciate feedback, both good and bad experiences. I'm sorry to see that you're not satisfied with TransferWise. We are a licensed financial institution, so based on certain criteria, we may ask for additional details. I am sorry you felt frightened and deceived, that's the exact opposite feeling we want customers to have. If we can do anything more, please let us know.
I had struggled so much with Azimo, Western Union and OFX, been disappointed so much then nearly lost my hope for money transfer technology until I read about TransferWise and decided to give a last try. The Apps is very easy to use, reasonable cost and speedy. I recommend TransferWise!
They canceled my transfer without explaining why. Not a good customer service, I had to wait for 3 days to get a reply from that company. Later I got a respond: "Thank you for reaching out regarding your account deactivation. We are more than happy to consider reactivating your account however we first have to make sure your account is secure and your identity on TransferWise has been confirmed. You can confirm your identity by replying to this email with following: Photo or a good, colored scan of your photo ID. Photograph of yourself (selfie) while holding your photo ID up, close to your face. General guidelines about what we want to see on your photo ID and what type of ID’s are considered secure enough for confirming your identity, can be found here and instructions how to take the selfie photo and what needs to be visible on it can be found here.
Once we have seen your photo ID and your selfie photo, we can confirm your identity and be confident that your account is completely secure before you continue using it. In the meantime, please accept our apologies for the ongoing inconvenience that this may cause you." They must be crazy. I will send copy of my ID to some JOE BLOW. USE WIRECASH service, less expensive and money got transferred within 10 minutes!!! Just read other review, they had done it to many other customers.
Thank you for the feedback. I'm sorry to hear about your experience. We are a licensed financial institution and verify ID's to be compliant. Account deactivation's can occur due to a number of reasons. Some of the reasons include but are not limited to security concerns, violation of our ToU agreement, attempts to buy banned or illegal goods, attempts to buy crypto currency and detection of multiple accounts being used by same individual.
I'm extremely disappointed with the customer service given to me on the past 2 weeks. I have been a faithful user of the system and indicated it to a lot of people and now I'm have the feeling of being left with no solution for my problems. I'm overseas and send money using the app last Friday and paid the boleto on the same day. Monday - I call customer service asking about the transaction and the person told me that it would be transferred as soon as they the money was received. By this time I asked if they need any document because I have urgency and need the money as soon as possible.
The TransferWise employee told clearly that it would not be needed any additional document and I would receive the money as soon as the money arrive. (Please check the phone recording) Tuesday - I receive the request via email from customer service, saying that I need to send my tax paying document OR my 3 months payslip, contrary to the employee has told me on the day before. I sent the 3 months payslip on the same day. Wednesday - I call customer service again, and it was confirmed to me that the document sent was enough and the money would be transferred. Thursday - I receive a email requesting my taxpayer report, even though on the previous email they requested one OR the other.
I sent the document. Friday - I receive an email asking for a copy of my document and proof of address. HOW COME NONE HAVE ASKED ME FOR THIS BEFORE? This is such a basic information. I feel like I'm being part of some joke, this is the only way I can make sense on this nonsense. Therefore, I tried to contact the company again, and talk to someone that is able to take a decision and actually tell me what is going on. I was unable to go any further and I felt like I was being served by a robot that kept repeating the same information.
Now I still have no idea of when I will receive my money, I'm overseas with no money on my account for more than a week because I relied on TransferWise to take care of my money. There is no reasonable explanations on why the customer service is not able to answer simple questions for the requirements. The feeling I have right now is that the company is playing with my money while I spend 2 weeks without money. For a company that deal with your money, the police of contact only by email or with a helpless customer service is a pretty serious stuff.
My apologies for the issues you dealt with regarding your transfer. Verification can come throughout a customer's relationship with us. I am sorry we didn't explain the verification better. This isn't satisfactory. We appreciate your feedback and take it very serious. Please let us know if we can help further.
Just great! I use it every month to pay my rent in Brazil with no issues. The money comes quickly fast and they do it at a fair price. It is so easy and customer service has been great when I have had a problem! Highly recommend!!! Especially if you are doing individual payments on a regular basis from US accounts to another country.
We use TransferWise every month to send money to our family in India. The mobile application as well as the online portal are very user-friendly. Especially love features, such as, saved recipients, daily exchange rate alerts, secure connections to bank accounts from within the app, guaranteed exchange rates and so much more! The exchange rates are always accurate and the fees seems minimal when compared to the ease and user experience. Also, they sometimes offer free transfers on special events. Thank you.
TransferWise expert review by ConsumerAffairs
TransferWise is a web-based money transferring company founded out of frustration due to the lack of a global currency. With a TransferWise personal or business account, you can send money around the world, paying real exchange rates and small fees.
Personal accounts: Transferring money with a bank costs more because banks set their own exchange rates so they can make money. TransferWise uses real exchange rates, known as mid-market rates. You can see real-time exchange rates on their website, as well as charts of exchange rates over the past 30 days. TransferWise boasts a savings of as much as 8 times more than when using a bank.
Multi-currency account: TransferWise has a new account called a multi-currency account. This account lets you send, spend and receive money in over 25 currencies. Also called a borderless account, these are great for businesses with employees around the world. You can easily switch between currencies and avoid high exchange rates.
Pricing: TransferWise does not charge monthly or receiving fees. They charge small converting fees when you convert across currencies, a small fixed fee when you send money to a bank account in the same currency and the normal conversion fee plus a small fixed fee when you send money to a bank account of a different currency. The normal conversion fee is $1.30.
Global impact: TransferWise is used in 59 countries covering 504 currency routes. It moves over 600 million dollars every month and saves people around 287 million dollars in hidden charges.
Mobile app: TransferWise has a mobile app for iOS and Android devices so you can track and transfer money on the go.
Best for: businesses with employees around the world who don’t want to pay high exchange rates.
TransferWise Company Information
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