Consumer complaint received 2023-09-26
Company: TransferWise Ltd
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
Subject : Urgent Appeal for Account Reactivation - Wise Bank Issue To Whom It May Concern, I am writing this appeal with utmost urgency to address a pressing matter regarding my business account with Wise Bank, formerly known as TransferWise. The account details are as follows : Name : XXXX XXXX Company Name : XXXX XXXX XXXX XXXX No : XXXX ITIN : XXXX Wise Email : XXXX Member ID : XXXX The sequence of events that led to this appeal are both distressing and disruptive to my business operations : Initial Account Setup : I initially opened a business account with Wise in XXXX in the name of my company, XXXX XXXX XXXX XXXX headquartered in the United States XXXX 

Critical Business Operations : My business relies heavily on receiving payments from XXXX, and my Wise account has served as a vital deposit method for these transactions. Additionally, I have consistently used this account to pay suppliers for XXXX XXXX. 

XXXX Expansion Effort : In XX/XX/XXXX, with aspirations of expanding my business to the XXXX XXXX, I applied to register a business account with Wise to support my XXXX operations. Importantly, I wish to clarify that my intention was never to establish a XXXX account but to maintain my XXXX account exclusively. 

Unforeseen Account Deactivation : To my profound dismay, Wise not only rejected my application for the XXXX business account but also unexpectedly deactivated my existing Wise account in the XXXX on XX/XX/XXXX. 

Dire Consequences : The sudden deactivation of my Wise account in the XXXX had dire repercussions for my business. XXXX, a primary source of income, was unable to send payments to my account. Moreover, per XXXX 's policy, the suspension of my bank account posed a serious threat to the status of my XXXX account, potentially leading to suspension. 

Full XXXX and Appeal : In a determined effort to rectify this situation, I promptly and wholeheartedly cooperated with Wise, providing all requested source of wealth documents to establish the legitimacy of my business and financial transactions. Despite my unwavering cooperation and the undeniable authenticity of the submitted documents, Wise regrettably rejected my appeal and permanently closed my Wise account. 

This unfortunate sequence of events has caused not only financial distress but also profound hardship for both myself and the ten individuals and their families who rely on my business for their livelihoods. 

In light of this dire situation, I urgently appeal to you for immediate intervention. I beseech Wise Bank to reconsider their decision and promptly reactivate my XXXX account ( account details provided above ). Furthermore, I would like to reaffirm that I do not desire to proceed with opening a XXXX account. 

The resolution I earnestly seek is as follows : Immediate Account Reactivation : The prompt reactivation of my XXXX Wise account is crucial to ensure the uninterrupted flow of XXXX payments and supplier transactions that are pivotal to my business. 

Prevention of Future Disruptions : I also request that Wise takes proactive measures to prevent any future disruptions to my account, ensuring the stability of my business operations. 

Transparent and Responsive Communication : Establishing clear communication and efficient support channels will be essential to address any potential concerns in a timely and effective manner, mitigating future challenges. 

The gravity of this issue can not be overstated, as the livelihoods of many individuals are at stake. I appeal to your sense of justice and fairness in this matter and sincerely thank you for your immediate attention and understanding of the urgency of this appeal. 

Should you require any additional information or documentation to facilitate the resolution process, please do not hesitate to contact me at XXXX. 

I wholeheartedly appreciate your prompt attention and assistance in resolving this matter. 

Sincerely, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation