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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TransferWise deactivated my account without any notice after receiving money from my first customer for my first order. I have shipped the goods and money returned to the customer bank. I really discourage people from using it. Really bad service.
I just used TW to receive money from Europe since beginning March. I'm just a receiver. On 23rd Mar, my account has been deactivated without any notice, while my withdrawal has been processing. When asked, they said considering to reactivate in few days, then a staff email me that my withdrawal is processing to my local bank account in 5 working days. After 5 days, no funding, I asked again, & had been told that they taking due diligence in 60 working days, even I had submitted all requested document: Bank statement on my name, selfie, passport copy, source of wealth, reason to receive money...
I have been sending many emails to explain them, that I'm just a receiver, & that approx. 6k$ is for my work. Client paid me for my freelancer work, & now it has been delayed, because of their unreasonable and vague hold. Now 30 days gone, they have all proof to prove that withdrawal is my right, to my name, as they had done many transactions before, but they still don't reply. Why I must wait 60 days, while that is truly my money??? If you read it, TransferWise, You owe the customer an answer for your suck service, I feel like having been cheated.
What should've been a simple transaction has turned into a complete headache. I initiated a transfer from my TransferWise account to my bank account. They offer interac as their simplest and quickest option. All users have to do is enter the amount they want to send and to what email address. Sure enough about 30 minutes after sending the transfer I received an email containing the pin needed to accept the actual transfer, which was to follow in a second email "shortly". Well the actual email containing the transfer hasn't arrived and it's been over 24 hours. Numerous calls to support has lead to just as many excuses. From reading other posts, I'm not optimistic I'll see my money for a long time, if ever. How fraudulent companies like this are allowed to continue to operate blows my mind. Stay far away from these crooks.
Very bad customer service. This service has fouled too many of my transfers. Seriously, stay away from TransferWise if you care about quality. This company's customer service is horrible??!! Sincerely, Eric.
Transferring money with this company is hit and miss. Doesn't matter if you pay extra money using a debit or credit card, there are always a lot of slowdowns and "checks". Uploading a photo of your passport wasn't enough. The next transfer they wanted a selfie of your face taken with your passport next to your face. Apparently sending money to yourself is very unusual. Customer service is very rude and impatient.
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Scam, if it actually works and they only take longer than promised and only change the conversion rate that you were told they would lock in. Fraud, if, like me, they tell you the money is received and in process. Then a few days later, there are some random checks happening. Then a few days later, after still no communication from them, you decide to check the status and find that your account has been deactivated. When or why, and what they plan to do with your money - all questions you are apparently not interested in finding out about.
I have been used TransferWise. Normally I transfer 100k EURO per month but suddenly they deactivate my accounts with money inside for no reasons. After I keep sending mail to them they asked for extra documents. I have sent all the invoice and all the requirements. I was waiting for them for more than 2 month and during this period they ignored my emails. Today they sent email and inform me they will refund my money within 60 working days. To whom wants use TransferWise never trust them. They are a financial company that if you get any problem with them nobody will response you. You cannot talk with headquarter, you cannot complain. Try alternatives or keep your money safe and go directly to bank.
No point in repeating what been said here by others. They have people you don't get to talk with doing the comply in back office and they don't know what of anything and stop account and keep money and reason? They don't say even if money from bank. YouTube video on this transfer scam don't say all. Beware!
Hey guys. Today I wanna show you the reality of this firm. I made a transfer. They didn't transfer the money and deactivated my account. They guys are fraud. Don't transfer money. They will just show that it's under process and then they will deactivate the account.
Suddenly I couldn't make transfers to my business supplier: "Unfortunately we’re unable to give further information regarding the reason. We will not be able to process any payments to that recipient." This is not how B2B services work. Bye bye TransferWise.
I cannot recommend TransferWise. Transferwise approved my request to send money, took the money from my bank account, and 2 days later when I tried to log in and tract the transaction process, I could not log in to my account and after contacting customer support, was told that my account had been deactivated. Customer support stated that Transferwise was going to hold my money for 60 days for possible illegal activity. I had to spend my time sending many emails to customer support. Finally, I was told in order to expedite the return of the money to my bank account I had to provide a verified bank statement to prove that money had been withdrawn from my bank account. Transferwise held my money for over 30 days before returning the funds back to my bank account.
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.
They totally blamed me and my source bank for the failed transaction citing not enough information was provided to their bank (I repeat, I followed the instruction they provided when creating and processing the transfer). Totally unprofessional response and downright incompetent handling for a process that is all electronic and should have been instantaneous. Very disappointed and won't use TransferWise again.
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.
On Feb 11, 2019 I contacted TW regarding the deactivation only to be told I needed to prove my identity with a selfie holding an ID, that the payment order was cancelled and refunded back to my bank account and that I would get my refund in 2–5 working days. I couldn’t believe this. They take your money first and then ask you to confirm your ID? What kind of business practice is this? When I set up my account with XE I had to establish my identity and provide my banking data before I could even initiate a transfer. When my money hadn’t been refunded by Feb 15 and I hadn’t heard from TW I contacted them again demanding a refund. This time I was told TW was conducting additional due diligence on my account and would process the refund once this has been completed. If I wished to speed up the process I should approach my bank to ask for a recall.
OK, let me get this straight: First, you take my money and tell me it will be in the recipient’s account in 4 days. Then you deactivate my account without letting me know. When I find out the recipient hadn’t received the money and my account was deactivated, you tell me that I need to confirm my identity and that the money was refunded to me and should be in my bank account in 2-5 working days. When the refund doesn’t arrive after more than 5 working days I contact you again only this time you tell me you’re doing due diligence on my account and I’ll get my money back when it pleases you – if ever. Oh, and if I want to speed up the process I can have the added inconvenience and expense of asking my bank for a recall – except that banks cannot do an ETF payment recall once the system released the payment for posting to the customer’s bank account (TW withdrawal was posted to my account Feb. 1, 2019).
This is an extremely poor and totally unacceptable business practice that to me borders on fraud. And what’s more, there is no customer support. I live in Canada and my only means of communication with TW is email – if they choose to answer. They have no office in Canada and the toll free phone number is useless because the “support” staff cannot provide satisfactory answers. I have notified TW that I will report them to all relevant authorities in Canada, the US and UK, write to newspapers, take to Twitter and other social media if they do not refund my money in the next 2 working days and I urge all those who have had similar experiences to do the same.
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 proceeded to request a money transfer. When I got to the part of paying for it, the payment method I wanted (ACH) was not enabled. Turned out there was a limit to the amount that could be sent and I was over it. They did not provide this information anywhere at the start, found out only at what should have been the last step of the process. And it was not possible to edit the amount, so I had to cancel the whole transaction and start all over again. This all took several days as their supposed online chat function was always offline and they were slow to answer emails. Then I again tried, this time with an amount beneath what I now knew was the threshold. The payment channel was enabled but when I tried to use it, I got a message that they could not link to my bank and would have to make small amount deposits to my account and then have me enter the details online. OK. Waited 24 hours, checked my bank account, nothing had arrived.
Next day, still nothing. 3rd day, 2 small deposits from TransferWise were there so I went to enter the info online but suddenly could not access my TransferWise account as it was listed as "deactivated". No notification of this and no reason given. Online chat states they cannot help and I have to email. Repeated emails go unanswered. Altogether wasted 7 full days, was never able to make a transfer and all that occurred was that they now have my banking and other personal data. From what I have seen of their poor to non-existent customer service I have no confidence at all that this data is safe. Nor can I do anything to remove it from their database as I am inexplicably frozen out and can't log in.
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.
This is where trouble begins: TransferWise will display an ETA for your payment to arrive to the recipient. Two words on that ETA: means nothing. TransferWise will mislead you making you believe your transfer will arrive within that ETA, but it won't and they frankly wouldn't care less if it does. But that's ok, money transfers are quite unpredictable, especially in cross-border ones. So after realizing it had been more than 2 days since the ETA date passed and I was already late on my payment, I decided to contact them to push it a bit.
Their customer service team does reply, but 2 business days after submitting your request. Here's their message: "We just wanted to update you on the status of your business onboarding. It’s going to take a bit longer than initially estimated to onboard your business. TransferWise has an acceptable use policy (see here) and depending on the business type, we sometimes need to do a more in depth review to make sure that every business that uses TransferWise is able to comply with this policy.
Please allow us up to 5 additional working days to complete our review of your business. If any additional information is required for us to complete this process, we’ll be in touch with you as soon as possible. We’re sorry for any issues this may cause. If you have a pending transfer, this won’t proceed until we can finish this process. If it is urgent and you need to do it through another method, you can read how to cancel pending transfers here. All the best."
Lovely, so I inquired about my transfer and they come back saying they are still running compliance checks on my account. Never mind me being 11 days late on my payment by now and TransferWise keeping the money I transferred to them all along, but they tell me it will take another 5 business days to process my account. Wow! This really got me so I came back to complain etc. and told them to refund my funds immediately. Again 2 days later they reply to my message but completely disregarding any of my previous requests and messages, but instead saying my account has been deactivated... Simple. Why deal with a pissed off customer when you can simply disable his/her account... Brilliant. They simply said they can't offer their services to me and your account is deleted.
About ethics, I'm a banker and I know how compliance works. You can't possibly accept somebody's funds or offer your services as such until you have full compliance clearance. The fact that they accept your funds and offer you their services first, and once they have your money they run their compliance checks is highly unprofessional and unethical if not illegal. I have no clue if they'll even refund my money now. Be careful guys, this is not a legit company. Stay away!
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.
Now I'm stuck. I can't try another service until(if?) I get my money back AND I can't pay the person I need to. I'm completely stuck. My live savings just stuck in limbo due to an incompetent company that likes to mess with people's money. I have never seen a company with such poor customer service and actual services as this one. DO NOT USE THEM UNLESS YOU LIKE TO PLAY ROULETTE WITH YOUR MONEY!!!
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.
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