Consumer complaint received 2024-05-28
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Unexpected or other fees — 
Company: TransferWise Ltd (CT)

On XX/XX/XXXX I transferred a total of {$5100.00} from my XXXX XXXX account to Wise Bank account. Both the funding and recipient banks were located within the US and the funds were wired in USD. 

Immediately after sending the wires, Wise began sending me text messages and emails requesting information to verify my identity. Keep in mind that I had already had a personal and business Wise account since XX/XX/XXXX that was verified with all of my banking information, passport, drivers license and SS # 's confirmed. I received multiple emails indicating " there is a problem with my transfer '' and I need to fix it. They needed more information. I complied with all of Wise 's request for documentation which included : My Wise Membership Number, Adding additional funds to cover Wise fees, Screenshots of the wire amounts sent to Wise, Screenshots of my XXXX XXXX online statement including account number, routing number and my full name, Screenshots showing the recipient information ( Wise account and routing numbers ), PDF of my statement After providing all of this information, they were still unable to verify that the funds came from me, so they began sending me emails telling me " we need to give you a refund ''. So, I complied with their request to give me a refund and on XX/XX/XXXX, I received {$5100.00}, which was {$50.00} less than I sent. 

Multiple emails and phone calls with Wise telling me : " We send the full amount, you are mistaken '' UNTRUE " The missing {$50.00} was taken by your financial institution '' UNTRUE " Send us a screenshot of your statement to verify amounts received '' I DID After spending multiple days and many hours on the phone, I finally received an email indicating that the funds were taken by XXXX XXXX beneficiary bank, not Wise. Well, I dont bank with XXXX XXXX and I sent the funds to Wise XXXX It was Wise who was unable to process the wire and verify me, even after I sent them everything they asked for. It was Wise who emailed me that they needed to refund my funds, not me. The link they provided justifying the fee stated that : " Correspondent fees are fees you're charged by correspondent banks in the XXXXXXXX XXXX. '' My fees were not send via the XXXX XXXX. 

" Weve built a prediction tool based on the correspondent banks historical fees and speed. If our tool suggests your payment will be charged a correspondent fee, well include it when calculating your transfer cost. '' I was never informed or shown any such fee in any of the calculations presented to me. 

I was told that these fees often occur when sending funds from one country to another or from one currency to another. In my case, I did not send the funds outside of the US, both banks were located within the US and the funds remained in USD and incurred no conversion fees. 

As petty as this may seem, I am seeking the reimbursement of {$50.00} by Wise for errors made on their end being unable to verify a customer for over 4 years and providing them with everything they requested immediately to process the transfer.