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Wise (formerly TransferWise)

Wise (formerly TransferWise)

 3.5/5 (324 ratings)
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About Wise (formerly TransferWise)

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.

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Wise (formerly TransferWise) Reviews

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Page 2 Reviews 10 - 40
Rated with 1 star
Verified Reviewer
Original review: Oct. 28, 2021

I have been a happy client for many years. But last week they stopped a transaction to review my documents. I've sent my income statement, but the transaction is still pending for more than a week. No support calls possible, and support chat always repeats the same message: "Transaction is pending, nothing we can do". Don't use Wise if you need to transfer money in time.

9 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Oct. 14, 2021

Since changing to Wise they do not protect your transfer. What used to take less than 24 hours takes a week. On September 23 I sent transfer of $254.69 and immediately pressed cancel because it was going through the longer swift network. I reached out to customer service as App was not responding. I logged in of App and was shocked to see transfer was still in process. I emailed again and pressed cancel again. I followed up at disputes and uploaded proof. I was told I waited too long to cancel. This was only after I informed them I knew the refund policy. They said I did not contact them before my money left my bank to cancel. This is false, in addition they say no cancel request cm in until 27 but why then do I have a copy of their email dated the 25th and thanking me for contacting customer support?

In addition, the transaction was not completed until 29th even though I reached out many times trying to get this cancelled and either way they say you can cancel if transaction is not complete. I did even better and cancelled right away before my money left my bank. They never stand by their guarantee or refund. They name the customer when they do not want to refund. They change the facts of this case to meet their needs and report false lies so they do not have to refund customers who are legit in the right. The app is terrible, they know it but conveniently say they have no record of cancel even inform me opposite of what my evidence proves. This company will Never have my business again. Please beware of their unscrupulous bad ethics.

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 11, 2021

I attempted to sign up several times, in each instance was temporarily charged somewhere around $60CAD to begin the process. The money was returned quickly but the sign-up process never completed and after multiple failed attempts to reach someone for support to understand what the problem was I simply gave up. No one ever contacted me back.

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 11, 2021

They suspended our business account with more than €60,000, after 4 months of usage, ignoring all the documents we sent to confirm the nature of the transfers, investor agreements, IDs, selfies, and other documents. We are a small startup and they just ruin our business from the very beginning. Unfortunately, we found the negative feedback too late. They will bury your business, try to stay as far away as possible.

16 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 9, 2021

On September 10, 2021, I took a Bolt car service from London Heathrow airport. As this is a car service ordered through an app, the price is already set when you request the ride. When I accepted the ride, the price showed £34.50. However, I was subsequently charged £44.50. When I contacted Bolt regarding this, they claimed the driver manually added an additional short-term parking fee as well as a longer ride fee. When I explained to Bolt that the driver did NOT have to pay the fee, citing that there was no wait time and LHR has a specific area for ride service pick-up and no fee is charged to the drivers, Bolt ignored this information and refused to credit the difference. Additionally, the driver intentionally took a longer route through central London while he spoke on his handheld device and frequently stopped. A ride that should have taken approximately 1 hour took 1 hour and 52 minutes.

Bolt still refused to refund the difference of what was overcharged, so I then contacted Wise about the issue. It has now been two weeks and after first claiming that they would submit a chargeback, Wise is now refusing to dispute the transaction, despite me explaining that at no point in the Bolt app does the word "estimate" come up, nor did it state that I would be charged additional fees for airport pick-up when I ordered the service. I do not believe that Wise is following US banking regulations in refusing to submit the dispute.

2 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 8, 2021

Wise the big scam! 15500e frozen since 1 month, clean money from my company, many victim on Facebook and Twitter. Every time the same fake excuse "we have control and it's take 60 working..." It's illegal. Many victim after 6 month don't recover their money and take lawyer. Soon Interpol will be Notified.

10 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: Oct. 6, 2021

I have used Wise multiple times over two years, recommended by several friends. It is simple and fast, and less expensive than bank services I previously used. Customer service has been responsive and quick when I had questions. Super-happy!

Be the first one to find this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 3, 2021

I have transferred in March €5,000 using Wise/Transferwise that up to now I was quite satisfied with. Somehow, the money that they acknowledged having received never made it to the final recipient. Wise contacted on several occasions end up saying the money is lost, and the intermediary bank of New York they sent it to has not answered their request... In other words, they are suggesting that I have lost money! The final recipient has of course been contacted numerous times, and has clearly not received the money, as attested by their bank. BUT: they are sorry and wish me nevertheless a good day!

11 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Sept. 29, 2021

We had a business account and it was working quite well. But on the end of July account was closed with no reason after 2 years of perfect account management. Money wasn't yet returned, despite of several email, which of one gave a time for refund never respected. Please note that this is happening to a lot of accounts anywhere in last three months. We suggest to contact Financial Conduct Authority (**) and report your problems. A possible class action will take place in next future if this situation continues.

10 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Sept. 28, 2021

I first used Wise on the 15th. I entered "recipient" account information (CAD). I was told a USD to CAD transfer would process on the 17th. I initiated my first transfer from USD to CAD (my recipient account is CAD). *After* I hit submit, I was told it could take "up to 4 days" to process and that my money was expected on the *22nd*. That's not 4 days. It indeed arrived on the 22nd. Back into the account it was pulled from- less $2USD.

I contacted customer service and got "Flora". Flora was not helpful, basically saying that they don't do anything I didn't tell them to do and if I wasn't an idiot it would have worked. No information other than that, and when I was not happy, an offer to refund the $2 with more snarky attitude. I was told to enter a recipient to get the refund. I *had* the recipient in my account the whole time. So I added a USD recipient since the refund was supposedly in USD. I told "Flora". "Flora" told me that I'm an idiot because the recipient indicated in my account is not the *recipient*-recipient, again- with attitude. Then she said she was closing the ticket because my issue cannot be resolved and she's VERY well trained, tyvm.

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 25, 2021

I have recently done a transaction with TransferWise Ltd. from a New Zealand Bank Account on 13th Sept 2021. However due to some unknown reasons, TransferWise was unable to process the funds even after 1 week, till 20th Sept 2021. Therefore I requested them to Cancel this transaction & refund the money back to my NZ account, which they claimed on 20th Sept 2021 that, "You will be receiving your funds back in 1-3 working days."

However, the amount of NZD $1920 is still pending on TransferWise Ltd. They claim that they have refunded the money from their local partner bank account (in the name of JP Morgan Chase Ltd. NA). TransferWise still manipulating the REFUND so far and not proceeded till yet, this has been confirmed by their two members of Customer service support staff during phone conversation on 23rd & 24th Sept 2021. Moreover, NZ Bank says if they have REFUNDED on 20th September 2021 through their local partner NZ bank the money should arrive in a maximum duration of 0-1 days, a normal banking transfer duration in New Zealand.

They have just shared a computer generated document not a bank statement or screenshot of their bank statement to show proof of their refund transaction. I have requested them to share proof of refund transaction but they were unable to provide one, which means they are lying. Even after several emails and phone calls, no staff is unable to provide information about the actual date / duration for this refund. In other words TransferWise Ltd. is trying to mislead, holding up people's money for their own interests and intentionally without any reason. It's been 13 days my money is in their accounts for no reason. Highly incompetent, inefficient with poor customer service team. Would not recommend to use Money Transfer, be careful in dealing with them. Thanks.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 24, 2021

Wise have now held €10,000 for over two weeks, they started by asking the most ridiculous questions, stating as they are FCA regulated they need to undertake extra checks. They Started by not replying for days at a time to the information provided and have now ignored all requests for a return of our funds. This is clearly some corporate policy to hold millions of users funds for weeks at a time and use those funds for their own needs. I'm sure the FCA and Financial Ombudsman will be very interested in hearing about those practices.

I have noticed many hundred of similar reviews on Google and Consumer Affairs about Wise. They then invite thousands of their users to write positive reviews for small transfers to drown out the real activity and negative reviews. They have standard robotic replies to any negative reviews, continuously stating Regulations, well, it's Wise who are breaching regulation in many regions. It's absolutely disgusting behaviour, they are literally ruining businesses and lives by their practices. Wirecard originally started with a similar practice prior to them going under. Your money is not safe with WISE. They are preventing businesses from operating and paying suppliers, we are losing contracts because of their practices

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 22, 2021

I have $12,000.00 CAD in the Wise system to send to a friend. He just alerted me that his account was terminated and I looked and my account has been deactivated. This is not right. What is my recourse? I am so NOT impressed, that is a lot of money for them to play around with. WRONG!

14 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 21, 2021

I just got busted sending a scammer money by mistake and there is no way for me to get my money back. In my opinion, to protect the public from scams, there should be a way to cancel transfer. Look around, the world has evolved and become crazier with IT hacks, account takeovers, so does technology, especially involving money. Wise is a real hell of terrible app to transfer money. If I could rate no star, I would!

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 12, 2021

They ruin all our business without any reason, when we talked to customers support they keep sending a script message again and again like we are nothing. Scam company. They start friendly and they become a nightmare, if you are a Wise member keep in mind one day will be you. My advice to business owner, if you are using Wise move your money to another place or leave a little, there's a lot of other companies friendly like Tide or Payoneer or use your local banks.

14 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 10, 2021

They deactivated my account for no reason. They have also refused to refund my money after waiting for more than 70 working days. Not a single reply to my many emails from their appeal department. Worst experience.

9 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Sept. 7, 2021

TransferWise was great. Wise, not so much. Didn't really have issues with them for the past two years, but for the past month their service has really gone down the drain. No proper communication, bot-like customer service agents. I'm not in Europe, so I can't call them, but even if I could, I wouldn't, because the call would probably end up at a BPO somewhere in India where the call centre agents would be bots and only trained to stonewall. Transfers are delayed, they're not giving proper reasons as to why, but the fees keep increasing. I'll be looking out for a new service provider who can deliver. A year ago I paid less than 5 euro for a simple transfer. Now it's closer to 7. No, thanks.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 6, 2021

They suspended our business account 4 weeks ago. On same day our partner wired us 11.000€. Wise till today didn't sent back the amount to our partner. They even don't answer to our emails, by phone they don't give any answer regarding this matter. NEVER USE WISE!!!

17 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 1, 2021

I have been a customer with Wise (Previously TransferWise) for the past 2 years and have experienced poor service before but have always overlooked it because it was convenient for me to transfer funds. Once the estimated date of arrival was not met, I would message the customer care service and usually get an updated time of arrival. This would be accurate and I could pay my bills on time. I transferred my monthly funds on Friday 27 Aug (evening) and the estimated arrival date was Monday 30th. I reached out the customer service team on Tuesday morning when I saw the transfer was not paid out. I spoke to Yesoda **, Praveen & Tejeswi in a space of 2 days and was still not able to get a clear answer on the status of my transfer.

At first I was told that I needed to complete a mandatory form which needs to be completed once a year, I then sent a screen shot of when I completed my last one (25 Feb 2021) and was then told that I can ignore this request. After many messages both Yesoda & Praveen told me that the funds will be released to my bank at 7pm on 31 Aug 21 and this morning Tejeswi told me (Tejeswi: 10:58 AM) "as soon as it's sent out from our end you'll be notified via an email." How is it possible to see different information for people working at the same company? Needless to say my frustration levels are extremely high and this will be the last time I use the service.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 27, 2021

Wise requires financial information relating to transfer and conversion of large sums of money to comply with money laundering regulations. I was requested to provide sale of stocks with my name on the statement relating to the amount necessary for the wire transfer information from Fidelity and I complied to the request. I was requested to provide the statement of my bank with the deposit of funds from Fidelity with my name on the statement with page 1 of 6 having my account number indicated on the page and page 4 of 6 reflecting the deposits from Fidelity with identical amounts. I was requested to provide a statement or screenshot of latest accounting that no statement had been released yet that showed the amount wired to Wise with the account number I did but I had marked out other transactions not related to the transfer on my bank statement.

I was then requested to provide my entire personal bank financials for months June and July that were in pdf format for their review of all my personal transactions which was not related to the transfer of the money nor its origins as I had previously provided them with what was requested but now had escalated to a invasion of all my personal transactions that I cancelled the transfer meanwhile they have my money from August 19 to the present. I feel my personal transactions should not be reviewed if not related to the transfer of funds indicated by sale of stock.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 20, 2021

I was sending money to family overseas that were going hungry because of Covid and also supporting a food bank, Wise suddenly deactivated my account, giving no reason, and all attempts to find out why have not been replied to. As to date they have not returned the money in my account, over a month now. Please avoid this company like the plague.

17 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 18, 2021

This is not a company you want to you to manage your transfers. Four weeks ago they blocked a payment to our team without specifying the reason. We sent again. Blocked again. The reason being because we used their Poli system. They said, "You need to use the same account." We responded, "We use the same Wise (ironic) account, the same bank account, the same user, even the same PC to do our transfers and Poli is your service!!" No response. Four weeks, you call they hang up. Email over a dozen times, not a single response.

Staff are to date the most atrocious I have experience. It is beyond me how a company can hire such people and then not monitor their activity. Totally unaccountable. The responses and product knowledge is equivalent if you pulled someone off the street and asked them questions about a company they don't know. No regard for your business or their own for that matter. Use anything else and avoid the pain we have had to endure with the constant issues using this company over the last few years.

16 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 6, 2021

My experience with this company is beyond horrible. Their transfer process is extremely slow for amounts large amounts starting at 1K and above. They will pull the money out from your local bank via ACH and their website will state it will be deposited in your Transferwise balance in about 6-10 hours. That's all a lie. This has failed be about 3 times and the money actually takes 3 days to get deposited in Transferwise. Their customer service is extremely poor, long hold times. Additionally they claim you can withdraw up to 1000 a day. Also a lie. It limits you at $500USD a day. Be careful when dealing with this company. They have the most inefficient team and processes in place. I would appreciate if they are more transparent with their processes. Don't state on your site that you will do something within a certain timeframe and then fail your customer. I would suggest looking at other companies and stay clear of this one.

28 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 5, 2021

I am in Ukraine from the United States. I made one transaction with my card. I transferred money to a friend for legitimate purposes. Money was transferred after she paid for a hotel and some food. No transaction was anywhere near outside of the customer agreement. All of my transactions together probably didn’t even add up to $500. I made one transaction with my card for $14. Then my account was cancelled and every dime of my money is stuck in an account that I cannot access. I would absolutely recommend that no one ever uses their service. I have all documentation to verify my trip. I have my flight info. I have everything. However, I cannot talk to anyone with Wise because of very poor customer service.

19 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 21, 2021

It all sounds like a great idea, especially for US users who by US law cannot hold any bank accounts in anything other than US$ within the US. Many overseas accounts, especially in UK will no longer allow accounts unless you reside in the country. Sadly, since the change to WISE, designed to facilitate holding accounts in most major currencies, the system fails dismally! Yes you can save money by transferring funds at a lower cost than a typical bank, but forget about setting up accounts to hold funds in for several reasons.

1) WISE is not a bank, and therefore your money is not guaranteed like a traditional bank. So if your money disappears .... good luck trying to get it back!

2) The only real way to contact them real-time is via chat .... however on several occasions, the only available chat was in a non English language. Yes I'm just a dumb language person who only speaks English so offering me a chat option in languages other than English does not help.

3) Their main method of facilitating funds transfer is by granting their system rights to your regular bank's online login. I did that initially, then wondered if it really made sense to grant them full access to my bank accounts? Given the multiple successful hacking around the world how long will it be before online banks fall victim? Bear in mind WISE is effectively an invisible institution. At least with my brick & mortar bank, there are multiple physical locations.

4) Their verification process is useless. You can send them multiple photos of yourself holding some form of acceptable ID .... but really, should that be acceptable? Plus most cameras are only designed to focus on 1 thing. My phone camera will focus on more than 1, however, despite several attempts, at least 1 piece of detail was out of focus.

All things considered, I decided to get the funds back and close my account. For anything other than holiday money, the risk is not worth it.

29 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 19, 2021

Never deal with them. I used them for the first time last week for a small amount $71 Canadian, it went fine, the money was there in the UK Bank Account within minutes. But yesterday the money never arrived, spent over an hour with the Credit Card company who confirmed they approved the transaction but Wise never posted the transaction even though they emailed me to say the money was deposited. The recipient didn't receive the money. I do not understand how companies like this one can operate without fear.

37 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: May 3, 2021

Started with a straightforward transfer of money from my checking acct to their business checking acct all within the same bank. I went to check on the status (no notification from them) and found the transfer was cancelled because they never received funds. The bank knows the day they received the funds, but Wise refuses to do anything without proof (don't they have an A/R person)? So I'm in the process of working with the bank to resolve. It will probably take weeks. Don't do it. Making a mistake then not be willing to own up and resolve it is no way to run a company.

36 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 28, 2021

Wise suddenly and arbitrarily 'deactivated' my account and has not responded to any of my emails about the remaining balances on my currency accounts. Although their website says funds will be returned in 2-3 days, it has been more than a week with no information provided. Will I have to take them to court to retrieve my money? Avoid this company as they do not seem trustworthy!

49 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 26, 2021

Take care. Good for some few operations, e.g sending some dollars to your son outside, but if you have some large amount of money they can close your account for no reason (maybe someone you buy is suspected or sth they will never clarify) and they don't even advise beforehand nor notify you that your account has been blocked. You will just find out it when your received payment be rejected or try to log in. Appeal are relied replied with something like "We comply laws, sorry your money will be available in 60 laborable days..." but you cannot know nor choose in what way. Maybe they send a check to your address or simply keep silent investing your money. This is very unprofessional!

33 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: April 22, 2021

Wise (TransferWise) steal money. Don't deal with them. They "deactivated" my account when I was transferring almost 2000 EUR from my Wise (TransferWise) balance to my bank. They sent an email stating "we won't be able to send you the refund." They will not answer any questions. Sadly, now I see this is a common experience.

39 people found this review helpful
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Wise (formerly TransferWise) Company Information

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