Product: Checking or savings account

Subject : Delays, Interest Loss, and Customer Service XXXX by Wise US Inc . 


Complaint Summary I am filing this complaint against Wise XXXX XXXX ( " Wise '' ) due to multiple issues with the handling of **Transfer # XXXX, including unnecessary delays, inaccuracies in refund reporting, compounded interest loss spanning XXXX days, significant customer service dysfunctions, and the considerable time and energy I expended resolving these issues. These failures highlight a lack of operational efficiency, transparency, and adequate support for customers. 


Issue XXXX : Timestamp Discrepancy for Refund Processing Wise claims that Transfer # XXXX " bounced back '' on XXXX XX/XX/year> at XXXX UTC. However, I have official documentation from the receiving bank confirming that the funds were reverted on XXXX XX/XX/year> at XXXX CET ( XXXX UTC ) nearly XXXX hours earlier than Wise reported. 

This discrepancy raises concerns about : XXXX. Accuracy in tracking and reporting financial transactions. 
XXXX. Delays in acknowledging and processing the refund, which negatively impacted my account balance and interest accrual. 


Issue XXXX : Unnecessary Processing Delay Wise caused a significant and avoidable delay in processing Transfer # XXXX : - The transfer was marked " Ready for Conversion '' on XXXX XX/XX/year> at XXXX UTC. 
- The currency was " converted '' on XXXX XX/XX/year> at XXXX XXXX, XXXX hours later. 
- The transfer was USD to USD, meaning no currency conversion was needed. 

This delay unnecessarily extended the transfer timeline. Instead of being processed promptly, the transfer was delayed by over XXXX hours at the " conversion '' stage, which directly impacted the timeline for sending the funds and returning them after the bounce-back. 


Cumulative Impact : Financial Loss and Time Wasted The delays caused by both issues ( refund processing delay and unnecessary " conversion '' delay ) resulted in my account balance being reduced by {$180000.00} USD for XXXX full days ( XXXX XX/XX/year> inclusive ). During this time : XXXX. My funds did not accrue interest. 
XXXX. Based on XXXX disclosed XXXX of 4.18 %, the daily interest rate is : - 4.18 % divided by 365 days = XXXX ( daily interest rate ). 
XXXX. Daily interest loss : - {$180000.00} XXXX = {$21.00} per day. 
XXXX. Total financial loss for XXXX days : - {$21.00} XXXX = {$86.00}. 


Issue XXXX : XXXX Customer Service and Conflicting Information Throughout my interactions with Wises customer service team, I encountered conflicting and incomplete information, which delayed resolution and added unnecessary frustration : XXXX. Wise initially failed to provide an adequate breakdown of interest calculations for my USD Balance+ account, despite multiple requests. Their responses were generic, irrelevant, and unhelpful. 
XXXX. Wise provided inconsistent information. The responses from their support team lacked coordination and were riddled with errors, delays, outdated info, and incomplete explanations. 
XXXX. I had to escalate the matter multiple times before receiving meaningful details, such as interest accrual breakdowns and refund processing timestamps. 

These failures indicate systemic issues within XXXX customer service processes, which failed to : - Communicate clear, consistent, and accurate information. 
- Address my concerns promptly and transparently. 

For the wasted time and energy, I am requesting an additional {$200.00} USD in compensation. 


Supporting Evidence XXXX. Documentation from Wise showing the refund and transaction timeline for Transfer # XXXX. 
XXXX. Official evidence from the receiving bank confirming the actual refund timestamp of XXXX XX/XX/year> at XXXX CET. 
XXXX. Wises disclosures for APY and interest accrual calculations, which demonstrate the financial impact of the delay. 
XXXX. Copies of email correspondence with XXXX customer service showing conflicting information and delayed responses. 


Conclusion This complaint outlines XXXX failure to deliver on their promises of operational efficiency, transparency, and reliable customer support. I request the CFPB to investigate XXXX practices and ensure they uphold their obligations to customers. I am available to provide additional documentation and clarification upon request.