Wise (formerly TransferWise)

Wise

 1.0/5 (84 ratings)
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About Wise

Wise, formerly TransferWise, is disrupting the way the world transfers money. Move your money with no hidden charges and for up to eight times less than traditional banks. Our method is easy and fast without sacrificing security and has been trusted by over one million customers across the world.

Overall Satisfaction Rating

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  • 1 stars

Wise (formerly TransferWise) Reviews

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Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Sept. 9, 2022

My account was closed without explanation mid of first transfer. Fine. I looked online and saw it on their website that there are multiple reasons for this and that they should return the money in about 3 days. 3 days later, still no money. I called and asked to speak with someone that could help me, they could not. They said they would have a supervisor return my call and requested I send an email to the appeals department to get my money back. I sent the email and got an auto reply that it would be 5-10 working days. 11 working days later, no response so I sent another email. During that time, no supervisor called me.

Today is 14 working days, I called again, they could not help me. The CSR said they would get someone to call me back and was about to hang up. Only she never asked my name, phone number or email. I sent another email trying to get answers that has still not been replied to other than their auto reply that now says 20 working days.

I did finally get a call back from the supervisor. They could not help me at all. They lied to me claiming that it says on their website how long they were permitted to hold onto my money. It does not. It says they will do what's necessary. So that to me says indefinitely. I asked them if they could get in contact with anyone in the appeals department. They said no. I pushed hard on this. They claim there is zero internal ability through any channels to contact the appeals division. This is ridiculous and an obvious lie. They said they would email me the information to lodge a complaint. They sent me the UK ombudsman link only. Of course, they know full well that they will not do anything until at least 8 weeks. Complaint over, for now.

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 6, 2022

Ripped off by 500 dollars. I have just started with Wise and I was wise enough to experiment with only a 1,000 dollars at first before traveling. I decided against carrying loads of money as I originally planned on this card. And I am so grateful for this. I have to say that as long as it was straightforward, I had no problem receiving an answer to every question via email. As soon as there began a problem, they have stopped communicating and pretend like they don't understand what the issue is. My card got hacked at the atm and I was fraudulently charged over 500 dollars. Have been communicating over this with them over weeks but it doesn't seem to go forward. I will be updating my experience to let you know on this website as time goes to see if they do anything about it or not.

8 people found this review helpful

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 1, 2022

    They want all your information, your social security number, your username, password, social security number. No no do not use this company. There is no live people to talk to, if you try to talk to someone to verify you have to pay to talk to someone. This is crazy. Do not use this company. Lot of bad reviews. When you go on their website they even have a place where you can try to get buyers off of your computer from them. Don't use this company.

    9 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 31, 2022

    I have had this account for years, and use it as my primary account whilst living and working in Australia whilst taking a UK income. Wise is working under delays such that adding cash to the account cannot be done in a timely manner. Right now I have tried to add money to my account on Friday 26th August, but the money will not enter the account past checks until 5th September. I have also been told by customer service any further additions get backlogged behind that one. It's an unacceptable delay to get my income, or keep the balance of the account topped up and has essentially made the account unusable.

    7 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 26, 2022

    I wanted to transfer an amount from EU to the US. Wise accepted the money, and flagged that it could take around 10 days. The transfer didn’t go through. I waited another week and got in touch with them and they told me they are missing information, which was not something they flagged earlier. I asked for the transfer to be cancelled, because I wanted to find a quicker solution. It’s now been almost 3 weeks since I requested this and have still not gotten a refund. There’s no way to call them and they are not responding to emails.

    14 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 16, 2022

    I send a transfer to my landlord on August 3 of $1800 from the App. I received a few days later a notice that there had been a problem but I could fix it by re-submitting the transfer which I did.... Since then mayhem: first, after countless emails and phone calls Wise still refused to even acknowledge that they had receive my initial payment on the 3 of August 2022. Then it claimed that I wanted to pay twice and that I owed them money... and so on. Problem still not solved.

    14 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 9, 2022

    Wise isn't a trustful partner to work with. I've had 2 bad experiences and decided to quit them for good. 1) Wired the funds to Wise with the promise to have the funds transferred within 2 business days. That didn't happen. I kept calling them to complete the transfer and they didn't know what to do. They indicated missing documents but weren't effective to complete the transfer. At the end I've requested to be refunded and the case closed. 2) I have started the process to transfer the money again, then received a guaranteed rate for 96 hours with the deadline of Aug 8, 2022. The funds were wired on Aug 6th, then they changed the rate without notice, indicating the guaranteed was for 48 hours and deadline of Aug 5th. Shame on these people. I will never do business with them again!

    Sidnei

    11 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 9, 2022

    I was supposed to receive money from a country within SEPA, however 5 days later even with the transfer receipt, Wise is seemingly unable to transfer my money as they used to, and on top of that when I was able to reach the customer service by phone (after sending no less than 5 emails without any reply) the guy on the phone was the "RUDEST" person ever, he even started shouting at me, and refused to continue the call...Guess what up? Until now my money is still not available in my account.

    14 people found this review helpful
    Rated with 1 star
    Verified Reviewer Verified Buyer
    Original review: Aug. 4, 2022

    Here's my experience: I work at preply.com as a teacher and tried sending payments to Wise.com. First, it was 23$, it shows "received" but 0 came to my account. After 24 emails with wise.com and preply.com, I tried again with 10$ and it's the same story. They tell stories that I need to contact some bank which I do not know. They canceled the transfer but the money never came back. My conclusion: DON"T TRUST THEM.

    11 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 23, 2022

    First let me tell you I have used Wise in the past quite successfully and have always been pleased with their service. Well not anymore. I transferred around $2000,- to a family member's account overseas. I used all the right IBAN information as requested and the money was taken out of my bank account immediately. Then however, the money never showed up in the other person's account. I was unable to find ANY contact information for Wise and had to do a deep dive online to get their contact info.

    After finally contacting them, they said they have "been experiencing some issues with Interac transfers and that they have canceled the transfer. But that they can't deposit any money back because they never received it". They are blaming Interac and saying there is nothing they can do. Leaving me to write email after email in the hope of finding my money. I have lost complete faith in this company and would NOT recommend using them to anyone at this point. I will update this review if steps have been taken and the issue is resolved.

    43 people found this review helpful
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    Wise author review by ConsumerAffairs Research Team

    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.

    The ConsumerAffairs Research Team believes everyone deserves to make smart decisions. We aim to provide readers with the most up-to-date information available about today's consumer products and services.

    Wise (formerly TransferWise) Company Information

    Company Name:
    Wise
    Year Founded:
    2011
    Website:
    wise.com