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Wise (formerly TransferWise)

Wise (formerly TransferWise)

 3.4/5 (326 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 3 Reviews 40 - 70
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.

21 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.

31 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.

38 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.

37 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!

52 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!

37 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.

41 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: April 21, 2021

For an unknown reason they said they wanted to terminate my account (that's ultimately their choice I suppose) but there's nearly $2,000 of my money that they have and they won't give it to me. I've asked 50+ times about it and they've ignored me.

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

I opened and verified an account with Transferwise back in 2018. I never got the chance to use it until I had someone who wanted to send me money in AED. I sent them my bank details and as soon as their transfer arrived Wise deactivated my account. They didn't send me an email either, they notify you of nothing. I only found out when I tried to log in. They're holding this money hostage and may take up to 90 days to reimburse the sender. The receiver has no rights. This is no way to receive money for a sale or services rendered. It is designed to frustrate you and impoverish you. Customer service take you round and round (if they answer your emails at all) until you get tired and give up. I wish I had reminded myself why I never deposited anything onto my account when I first opened it, there were scary reviews about it even then.

22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 23, 2021

UPDATED 3/26/2021: My account with TransferWise was "deactivated" after I had sent money through them. After I made the latest transfer attempt, the recipient kept asking for the funds and I was unable to get an answer from TransferWise to my inquiries. Recently my TransferWise was "deactivated", as they call it, without giving any notice or reason. There was no contact information except email to "appeal", as if you are a criminal convicted of a crime. I am not able to get any answer or find out what is going on with TransferWise. I am trying to give warning about this company that you are liable to lose any money that you try to send through them. Thanks and good luck to those who have already lost their funds through them.

ORIGINAL REVIEW: Too many problems to list here! TransferWise is hiding being the facade of name change: "Changed the name to Wise. Nothing else has changed". Oh really! Couldn't come up with anything better as an excuse for shutting down accounts. TransferWise has all the classic signs of early stage of disappearing from existence. Possibly with the owner{s} disappearing into some East European country with all the money. Owners seem to be originally East European. I am staying away from TransferWise as my account has been "deactivated' and I can't login. I am afraid that this looks very much like a Ponzi Scheme. All signs are telling me that it is all done and over with and I have no confidence that TransferWise is a legit company.

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

WOAH! They have the worst service ever. I work for a company that uses TW - I recently changed numbers and despite emailing in my picture with ID, emailing from the company email itself, they have not changed my number. I have the login details (password and email), just need to change the number in order to get the confirmation text. I have been emailing for weeks now, I have been asked to send ID and picture several times which I did but it seems as if each time I email customer service it is another person behind the email that does not even read my emails or my concerns. Then they asked for proof of address with my name (I work for the company and obviously I do not have access to the physical address as it is not my company!!). Can't reach them via phone and we are unable to pay people right now. As a company, we will be switching over to Borderless soon and escalating this matter to an ombudsman. Disgraceful service.

35 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 13, 2021

This guy will lock you out of your account no matter what your balance is without any reason. They also did lock my balance in it and it took them ages to sent it back after I emailed them a couple of times.

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

Sent money through the organization and my account was shut down in the midst of an ongoing transaction. No reason was adduced and the end user is devastated. I need a refund of my money immediately. Please assist.

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

Be careful with this company. After you get some decent money they will close your account for no reason and they don't even notify you that your account is closed. You will only know it when you try to log in. I made an appeal and they replied me with this? Now I am broke since my 4k+ USD is being held by them. I have to pay my business partners with my pocket money. This is very unprofessional!

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

TransferWise closed my account without any notice or explanation. Filed an appeal, they emailed me back that they have fully refunded the balance I have in the account, which is more than $15,000. But they never returned the money! And no one in their company is answering emails or helping. The thing is they lied and disappeared! If you have faced or are facing a similar situation, please join our Facebook group called Transferwise Scam Victims. Together we can start a class action lawsuit against them! Please join! **

66 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Jan. 26, 2021

I successfully used TW for over a year to transfer money from my US bank account to my Spanish bank account. I make transfers of $2-3k once or twice a month. Suddenly last week, my TW account would not accept my Spanish account as a recipient. Several chats and phone calls to their customer service center over the last five days have failed to resolve the issue. They keep saying their "tech team" is looking into it and I should expect an email in a few days. Yesterday, rather than work to resolve the issue, the customer service representative told me that I should use another transfer company to make my now-urgent transfer. Hence, I will take his advice and stop using TW. It's a shame, because when it works, it's a great service. But I need a company I can rely on.

40 people found this review helpful
Rated with 5 stars
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Verified Reviewer
Original review: Jan. 20, 2021

I am surprised at the negative reviews of TransferWise. On the contrary, I found TransferWise quite reliable, fast service to transfer more than $100 K to India. I saved more than $4 grand when compared to banks. The only rate limiting step is verification which would be faster if you submit passport pages rather than driver license. Customer support is top notch and quite the industry standard. Overall, I am a highly satisfied customer and would strongly recommend it.

34 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 30, 2020

Definitely a very suspicious way of doing business. I do not trust them. That's why I asked them to prove their identity, by providing a company registration certificate and the first and last name of the employee that answered by email. But they have refused to identify themself. That's a very suspicious behavior. The company has a license in UK, their corporate offices in located in a tiny country called Estonia and their support team answers from a tiny city called Tallinn; Tallinn or not Tallinn, they hide their identities. I will definitely exclude them. Definitely a suspicious situation.

48 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 29, 2020

If you read this, stop joining TransferWise. Yes, like many other money transfer services, it used to be good. But unfortunately, their expiration date has come.

1. I have invited 5 people to the platform. I received multiple calls from them telling me that TW is holding their funds and halts their transfers with no reason. In a most recent case, a friend told me that she made a transfer from her TW account to her OWN bank account on 15th of December. She picked so called FAST TRANSFER because she was in an emergency. AFTER initiating the transfer, the app says they are holding the transfer for some security checks FOR 4 BUSINESS DAYS! Now is 29th of December and despite contacting them 3 times, the money is still in custody.

At this very special time of the year where everybody needs money, TransferWise HOLDS people's money. She just receives some corporate responses from their support and "we are sorry" stuff instead of her money. So, don't expect anything FAST anymore and be prepared for more surprises like this. Before initiating the transfer, they advertise super-fast transfer under 1 minute. When you initiate the transfer and the money is gone from your account, you will face this 4 business days which is in fact, WEEKS.

I think I know the reason for this shameful unlawful custody of clients' funds. Just recently, their buggy software or money transfer service sent out wrong transfers and extra money (double payouts) to lots of accounts. They are now emailing and asking people to refund those extra amounts. By holding other people's money who are completely unaware of this disaster, they are trying to keep the necessary liquidation inside their system and compensate their loss. This is what I can perceive based on the information I receive from my friends and other TW users online. This is miserable, horrible, and unacceptable from a financial institute.

2. Using TW you cannot send money to Cryptocurrency exchanges like Binance, Coinbase, etc. Apparently they don't want to accept that Crypto is the next generation of money and the very fact that it is replacing traditional banks and money transfer services like TW. Avoiding money transfer to such services is the most ridiculous feature of TW, in my opinion. It is odd, old-school, weird, and unacceptable in 2021 where Crypto eats the world. Till when they want to do this?

3. The interface of their app and web is beautiful but lacks most basic features of a modern online banking. If you work with a bank like Sparkasse (Erste) for example, TW seems like a student project compared with it. Even the search doesn't work properly and you have to manually look for lots of transfers. No summary, extremely basic reports... Filters are just too basic. It is good for 2000 to 2005 but not for 2020 and 2021.

4. They gradually increased their fees. At first everything was really cheap (and of course fast). Little by little they increased lots of fees and just recently I realized I'm actually paying more compared with my local bank. Their only advantage is their exchange fee (for instance form USD to GBP) which seems lower compared with banks. I presume soon, they will lose this feature too like they lost the others.

Now my friends and I are looking for an alternative. TransferWise is expired for us and we won't trust it again. I don't want my money to be lost in Christmas times.

32 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Dec. 18, 2020

TransferWise closed our account without any expectations. We asked them to provide an account statement and refund the funds. No response after sending many emails. You cannot call them nor talk to a real person. Completely hopeless situation. Stick with real banks!

39 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Dec. 11, 2020

I wanted to make a transfer from my bank account in France to my bank account in Canada through TransferWise as they offered a better rate. In the end, the money left my account in France (verified I used correct RIB) but TransferWise never received my money. In response to my complaint and me sending proof of transfer that a standard French bank provides, the agent simply told me transaction was cancelled as 14 days has passed. Where is the 6000 Euros? No one knows and TransferWise will not assist you in any meaningful way. Had I used a bank to bank service, at least I would be able to investigate with my bank in Canada.

57 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Dec. 8, 2020

I have been using TransferWise for longer but not less than 2 years. They have been great so far, until 2 months ago they started to complicate everything. I live in Europe, I send money to my mother in India for all this time. They never asked me a transfer purpose. Now 2 months ago I sent my mother money like every other month, I got email from them "The money is in her bank account" which is a lie, we waited for days and days no money my mother got.

So I reached out to them, they asked to show purpose. I asked what purpose do you need to send money to your mother???? Are you kidding me?? So then they sent the money in my mother's account and transferwise requested me to select proper purpose in the app when sending which should be family maintenance. Exactly that category I selected to send some more money to my mother.... same thing, email “The money is in her bank account “. Which they can’t say it when they are aware that the money is not sent!!! I can literally sue them for lying this clearly. I am changing to some other app, it’s not 2018 anymore, there are plenty others.

35 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 2, 2020

I opened a borderless account and at first everything was fine. But now, transfers are being delayed for no apparent reason - I have been waiting over a week for just $100. Still waiting. Customer service is all, "Sorry, but sometimes there are delays." Not helpful at all. I will be closing my account.

29 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Dec. 1, 2020

Bad, bad customer service that does not understand English. You contact them about one thing, they say another thing. Ignorant, rude, incompetent, and completely unhelpful. They lost my e transfer with my money when I sent it to the correct email address. They refuse to admit any responsibility. And my money is stuck in limbo because the recipient bank cannot accept the money due to incorrect information. And TransferWise doesn't give a shoot about its customers. Thank gods it's $30 transfer. If it was $3000 might as well say bye-bye to months of hard-earned money.

35 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 28, 2020

I’ve been using TransferWise since 2017 and had absolutely no problems, it’s been smooth over these past years. I even opened a business account for my company. Their support had been outstanding in the past. However, based on the recent reviews it all went downhill this year.. My account was blocked 10 days ago with 4,000+ euros in it. They haven’t even sent an email to notify me.. I found out when I couldn’t login. I called them immediately and what caught my attention was the accent of the person.. In the past I only spoke to native English speakers.. (so they’re budgeting and outsourcing now - not doing well). The person was totally useless and said that I have to contact their appeals via email as they cannot access or provide any information regarding the suspension, not even the reason.. I sent multiple emails to appeals and got no response whatsoever.

What makes me upset the most is that they suspended both of my accounts; personal and business. I have no idea what caused this, but whatever the reason, they couldn’t just block both accounts as they operate completely separately of each other.. If the accounts were compromised, then they should work with me to reinstate them ASAP and not disappear. Right now I’m basically missing 4,000+ euros and they are totally ignoring me. Their TOS scares me, because they can basically ban you and keep your funds without any explanation.

38 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 25, 2020

BEWARE. AVOID TRANSFERWISE - they'll look great in the beginning, but once they've gained the trust on you, and you leave money in the account (balances) they'll suddenly freeze your account and say, "We are deactivating your account for some unknown reason," and say, "We will return your money after we done our checks within 60 days" - LIES, you will not see your money and no reply will be given to you to your emails! Dont trust them, you better of using other apps / or real banks - NOT THEM! Horrible transferwise!!!

52 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Nov. 21, 2020

I use Transferwise perhaps 5 or 6 times a month from my US account to family (studying) overseas. Often 4-6 hours or 24 hours - but sometimes 6 or more days - it's rubbish as I test their "reasons" why and they are invalid. I did 3 transfers last week - the first 2 as I'm filling it in to my regular recipient (my daughter) it says "4 hours" - hit enter - a minute later it says 6 DAYS! So I do another transfer - same deal - usually these are completed within 48hours like it's the 20th century. SO then I do a 3rd to my own account overseas - same bank withdraw - similar USD - same same everything just different recipient currency - DONE in 5 minutes. So they lie to me about the other transfers blaming Citibank - wrong - it's Transferwise that is playing games and gambling with currency futures plain and simple. Their customer support is non-existent - BE ADVISED.

41 people found this review helpful
Rated with 4 stars
Verified Reviewer
Original review: Nov. 20, 2020

Nice, friendly and very easy application. Will Promote and recommend everyone vest. Compare to Pay Pal thieves and liars. They stole interest from me and holding your funds how much they want like a mafia. Would recommend TransferWise.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 7, 2020

They block/deactivate your account for 60 days, including your funds. After those 60 days, they ask you for the refund details and after you provide them with your details, they completely ignore you! AVOID THIS COMPANY LIKE PLAGUE!

39 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 6, 2020

My brother supposed to get $5500. Money never went to his dollar account because it was changed to Euro. And I never got the money back, it's been month and a half!! I email them every other day. They say wait! I should have just gone to bank and do my transfer. I don't know what to do at this point.

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

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