Consumer complaint received 2023-12-20
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Fraud or scam — 
Company: TransferWise Ltd (NJ)

On XX/XX/2023, we sent a wire of {$11000.00} directly to WISE US Inc 's XXXX XXXX XXXX account for transfer into our account with WISE- as we have done many times in the past. On XX/XX/2023, we contacted WISE via email about the missing funds in our account. WISE failed to inform our company that the wire details were to be redirected to their new bank details at XXXX XXXX XXXX. On XX/XX/XXXX, WISE assured us that the funds should " bounce '' because their bank account at XXXX XXXX is closed and that these funds should return within 5-10 days. Funds did not return to us within that time frame. We opened a recall case with XXXX XXXX on XX/XX/XXXX as advised by WISE via phone call since they suspect funds may still be in limbo. Between XXXX XXXX XX/XX/XXXX, our case with XXXX XXXX reports that WISE US successfully received funds and that funds were not in limbo. Wire recall was denied because it could not be returned unless WISE authorizes to send it back. On XX/XX/XXXX, we contacted Wise via phone and email asking for them to complete authorization [ sent from XXXX XXXX ] to return our funds. On XX/XX/XXXX, after calling with XXXX XXXX, we found out WISE has officially shut the bank account and did not respond to the return request issued by XXXX XXXX. Since refund is not accessible from a closed account, XXXX XXXX asks us to work with Wise to retrieve funds. We call wise again- WISE tells us to direct our issue to XXXX, their banking partner. Both WISE and XXXX confirm funds are with XXXX, 4 weeks after denying WISE had any funds. We then get another run around. XXXX and WISE ask for a 22 character long IMAD/OMAD/Federal Tracking number in order to send back our funds. Since the wire was sent within the same Bank system, the Federal Tracking number is not generated. We only have a 16 character tracking number - apparently 6 characters too short. WISE / XXXX refuses to help any further at this point. On XX/XX/XXXX we call Wise again. Wise claims they can't return funds since closing the bank account at XXXX XXXX and there is no reflection of funds in their account. However, previously WISE already had confirmed that the funds were received and pushed through their banking partner XXXX. WISE then suggests to open another case with XXXX XXXX for refund. On XX/XX/XXXX, we contact XXXX XXXX via phone to file another case again and they provided more clarity about the first recall case. Apparently, WISE had insufficient funds in their bank account at the initial recall [ which prompted the authorization for refund which was unanswered ]. The bank has been cleared out since it has been closed. Wise already spent or moved the money out of the account although they have claimed the did not receive funds or have access to funds. XXXX XXXX representatives says, to expect a refund since the recipients ( WISE ), have closed and cleared the accounts, is highly improbable. It is clear that WISE is engaging in classic scam/fraud activity-something similar to a bait and switch.