Consumer complaint received 2026-03-06 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Trouble accessing funds in your mobile or digital wallet — 
Company: TransferWise Ltd
State: NC

Complaint narrative:
Complaint Regarding Wise US Inc . Denial of Access to Funds and Unreasonable Delays in XXXX XXXX. Wise US Inc . XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX NY XXXX United States legalrequests XXXX XXXX We have maintained a Wise Business account with Wise US Inc. ( Wise.com, formerly TransferWise ) since approximately XXXX. Our company uses this account for legitimate commercial transactions related to international manufacturing, logistics, and vendor payments connected with our U.S.-based business operations. For the first several years the account functioned normally. However, during approximately the past 1824 months Wise has increasingly delayed routine transactions and subjected them to extended reviews, despite the fact that our transaction patterns have remained consistent for more than five years. Our account reflects an established history of sending payments to the same overseas manufacturing partners and logistics vendors in connection with production runs and shipping activities. These transfers occur periodically and follow a consistent pattern that is clearly reflected in Wises own transaction records. Despite this history, Wise has repeatedly delayed transactions after initially representing that the funds had been sent. For example, we initiated a transfer of approximately {$8000.00} to a long-standing manufacturing partner in XXXX so that production could begin on a scheduled run of our product. Wise initially indicated that the payment had been sent. Approximately eight days later, we received an email requesting basic information about the transaction. After we responded to the request, it took an additional three weeks for the funds to reach our vendors bank. Similarly, Wise recently held an incoming ACH deposit of approximately {$1500.00} from our XXXX XXXX account for more than three weeks. Our XXXX account has transmitted bi-weekly deposits to this Wise account since the account was established. The deposit pattern is longstanding and clearly documented in Wises own transaction history. In early XXXX we transferred approximately {$28000.00} from our XXXX XXXX account at XXXX XXXX XXXX to our XXXX XXXX Wise Business account. The transfer clearly indicated XXXX XXXX XXXX and XXXX XXXX XXXX, demonstrating that the funds were being transferred between accounts belonging to the same business entity. Despite this, Wise delayed the funds for approximately one week while requesting additional information. Most concerning, we recently discovered that our Wise account had been placed under review, resulting in a complete restriction of access to our business funds. We received no advance notice and no contemporaneous notification that our account access had been suspended. No email, phone call, or other communication was provided informing us that our account would be frozen. This action has effectively denied us access to funds belonging to our business while we currently have inventory in transit that requires payment to shipping and logistics providers. The inability to access our funds threatens our ability to meet contractual obligations with vendors and risks significant damage to long-standing business relationships. Given the long history of legitimate transactions and established payment patterns on this account, we believe Wises repeated delays and current restriction of access to our funds may constitute * * unreasonable delay in the transmission of funds and denial of access to customer funds in connection with remittance transfer services. * * These actions appear inconsistent with requirements under the * * Electronic Fund Transfer Act ( 15 U.S.C. 1693 et seq. ) * * and the * * Remittance Transfer Rule under Regulation E ( 12 C.F.R. Part 1005, Subpart B ) * *, which govern remittance transfer providers and require accurate disclosures and proper handling of electronic fund transfers. In particular, these regulations prohibit practices that misrepresent the timing of transfers or otherwise interfere with consumers ability to access or use their funds. We respectfully request that the Consumer Financial Protection Bureau review whether Wise US Inc.s practices constitute * * unfair, deceptive, or abusive acts or practices ( UDAAP ) under the Consumer Financial Protection Act ( 12 U.S.C. 5531 ) * * in connection with the handling of remittance transfers and access to customer funds. We request regulatory review of Wises conduct and assistance in obtaining a clear explanation for the repeated delays and the current restriction on our account, as well as prompt restoration of access to our funds. XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation