Consumer complaint received 2026-01-07 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem — 
Company: TransferWise Ltd
State: CO

Complaint narrative:
I sent money from my bank to Wise wallet in XXXX installments, XXXX for {$5000.00} and another for {$20000.00}, and made a remittance request of {$25000.00} to send to the recipient bank in XXXX. I requested that the money be converted to XXXX soles. This was done on XX/XX/XXXX. The recipient contacted me on XX/XX/XXXX to inform me that her account was a USD account and didn't think her bank would accept a transfer of XXXX soles.. I contacted Wise customer support that day to explain to them about the funds mismatch, thus notifying them of a remittance error. and requested to cancel the transfer. Wise customer service told me that they could cancel the transfer. However, I later noticed that the money was sent via the status update by Wise. I contacted them again and they stated they were sorry I was told it would be cancelled and that it was actually too late to cancel. If the money gets rejected it will then bounce back to my account. On XX/XX/XXXX the Wise status update informed me that the money was successfully sent to the recipient bank. I let the recipient know this. The recipient later informed me on XX/XX/XXXX that the bank told her that they rejected the remittance on XX/XX/XXXX, XXXX full days prior to the Wise status update stating it was successfully sent to the bank. I informed Wise of this on XX/XX/XXXX and they asked me to send them a copy of the recipient bank rejection document which I did. They confirmed that they received it. I asked why my money was not returned to my account and they said it takes about XXXX days to return. XX/XX/XXXX was XXXX days taking into consideration holidays and weekends. I was told it should be there on XX/XX/XXXX and to call on XX/XX/XXXX if I hadn't received it yet. I did not and called back. I was then told it would be XXXX days to receive the money when I asked if they can do a manual trace they said I had to wait " at least '' until XX/XX/XXXX ( XXXX  days ) before Wise would XXXX. I told them that was unacceptable but they said I had to wait. This is a violation of Regulation E. Below I copied the complaint I sent to their online complaint form and another I sent to their complaint email. XXXX is more detailed than the other but they both say essentially the same thing. The complaints explain in detail the specific Regulation E violations and a violation of the XX/XX/XXXX Amended Consent Order ( File No. XXXX ) as well as request for full funds, no fee deductions, to be returned. All relevant documents were already uploaded to Wise and they have them. This includes the rejection letter from the recipient bank as well as a screenshot of the dated faulty notification from Wise stating the funds were successfully sent XXXX ) Via Online Complaint Form : XX/XX/XXXX Membership number XXXX XXXX XXXX XXXX XXXX  Transfer # XXXX Subject : URGENT : Violation of 12 CFR 1005.33 and CFPB Consent Order XXXX-CFPB-XXXX To Wise Compliance Team, I am formally escalating This Transfer # XXXX and asserting my rights under 12 CFR 1005.33. I have spoken with Wise on multiple occasions. Wise informed me on XX/XX/XXXX that Transfer successfully sent to your recipients bank. However, I determined on XX/XX/XXXX that the recipient bank rejected the remittance on XX/XX/XXXX. I have already provided proof of the XX/XX/XXXX rejection. I am requesting that Wise immediately provide me a full refund of the principal amount and all fees. 

The remittance was rejected due to a currency mismatch. The Wise tracking system is inaccurate and provided me false information by claiming the money was sent successfully ( XX/XX/XXXX ) XXXX days after the funds were rejected by the recipient bank ( XX/XX/XXXX ). As well, Wises system allowed the transfer to proceed to a bank that couldnt accept it, and failed to ensure the funds were available. Furthermore, I had also tried to cancel the remittance after sending the money, and before it reached the recipient bank, and notified Wise of this, effectively putting Wise on notice of a remittance error. I was initially told it would be cancelled and then later I was told it was too late to cancel, and if rejected the money will simply bounce back. 

I immediately informed Wise on XX/XX/XXXX that the funds were rejected on XX/XX/XXXX, XXXX full days prior to Wise informing me on XX/XX/XXXX that the money was sent successfully, and uploaded the rejection letter from the recipient bank to Wise. I have requested the money be returned to my Wise account but was told that I need to wait until at least XX/XX/XXXX before Wise will attempt to investigate the situation further and trace the funds. I am rejecting the XX/XX/XXXX timeline. Per 12 CFR 1005.33 ( c ) ( 2 ), Wise must provide a full refund of the principal and all fees within XXXX business day of my request. 

On XX/XX/XXXX, Wise provided inaccurate information by notifying me that funds were successfully delivered, despite a rejection by the recipient bank on XX/XX/XXXX. This constitutes a Provider Error under 12 CFR 1005.33 ( a ) ( 1 ) ( iv ) and the XXXX day window is an illegal refund delay by citing up to a month or more waiting period of XX/XX/XXXX. This requires a remedy within XXXX business day once an error is determined. 

Im aware of the XX/XX/XXXX Amended Consent Order ( XXXX XXXX. XXXX ) where Wise was penalized for failing to resolve remittance errors in a timely fashion. Your instruction for me to wait until XX/XX/XXXX ( XXXX days ) is not reasonably practicable under the law. 

I demand a Full Refund of the principal and all fees ( {$25000.00} - XXXX XXXX dollars ) within XXXX hours. I also demand the XXXX and XXXX for the return leg of this transfer. 

I would prefer to resolve this quickly with the help of Wise. However, I will need to file a complaint with the CFPB within XXXX hours of my phone call and recorded statement earlier today if Wise does not refund my remittance in full ( including Wise fees, which I was told would be returned to me ), as well as all intermediary fees. To be clear I demand a full refund of the principal amount and all fees immediately to my Wise account or preferably to my bank account. Given Wises inaccurate tracking and refusal to cancel after my request, I will not accept the deduction of intermediary fees. 

Thank you for your prompt attention to this complaint. 

XXXX XXXX. 

XXXX ) Via Wise complaint email : Subject : Formal Complaint : Violation of 12 CFR 1005.33 and CFPB Consent Order XXXXCFPB-XXXX Formal Complaint Regarding Transfer # XXXX Membership # XXXX I used the Wise Complaint form yesterday and repeating the complaint using this email. 

I am filing this formal complaint because Wise has failed to resolve a remittance error in the timeframe required by Regulation E ( 12CFR 1005.33 ) and is in direct violation of the XXXX XXXXAmended Consent Order ( File No. XXXX ). 

Statement of Facts : Early Notice of Error : I notified Wise before the funds reached the recipient bank that the currency was incorrect ( USD account XXXX. XXXX transfer ). Wise refused to cancel. 

Notification of Rejection : I notified Wise on XX/XX/XXXX that the bank rejected the funds on XX/XX/XXXX. I uploaded recipient bank document to verify on XX/XX/XXXX as well. 

False Status Update : On XX/XX/XXXX, Wise sent a notification claiming the transfer was " successful '', despite the funds having been rejected XXXX days prior. This is a clear " Notice of Error '' violation. 

Illegal Delay : Wise is currently instructing me to wait until at least XX/XX/XXXX ( XXXX days ) for a refund. Under 12 CFR 1005.33 ( c ) ( 2 ), a remedy must be provided within XXXX business day of determining an error occurred. 

Required Resolution : I demand a full refund of the principal and all original fees within XXXX business days ( from yesterday XX/XX/XXXX since that is when I sent formal complaint through the Wise website ). I will not accept the deduction of intermediary fees given that Wise provided false updates and refused to cancel the transfer when warned of the error. 

I am opening a case with CFPB today with this formal complaint as evidence of Wise 's failure to comply with federal law and its recent settlement terms. 

All relevant documentation has already been previously uploaded to Wise and customer service has confirmed they have received.

Company response to consumer: Closed with explanation