Consumer complaint received 2026-03-30 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Fraud or scam — 
Company: TransferWise Ltd
State: VI

Complaint narrative:
Complaint against Wise US Inc . Transfer # XXXX On XX/XX/year>, I initiated a {$300.00} USD transfer through Wise ( Transfer # XXXX ) from my business, XXXX XXXX and XXXX XXXX. Wise accepted the transfer, charged fees, and withdrew the funds. The transfer has not been completed and the funds have not been returned. Since initiating the transfer, Wise has repeatedly delayed resolution while requesting extensive documentation, including : Bank statements Source of funds documentation Business licenses Personal and business identification I provided all requested documentation promptly and in full. Despite full compliance, Wise has : Failed to complete the transfer Failed to return the funds Failed to provide a clear reason for the hold Failed to provide a definitive resolution timeline This is not a single complaint. I have opened multiple support cases and complaints with Wise, including : Case XXXX : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Multiple email threads and support chats A formal complaint acknowledged by Wise Wise initially stated they would respond within XXXX days. They later extended this to XXXX days, citing internal review and third party delays. No resolution has been provided. Over several months : Wise has continued to hold my funds Wise has continued to request or reference documentation already provided Wise has provided only generic responses with no actionable outcome I also attempted to cancel the transfer and request a refund. Wise has not processed the refund and continues to retain the funds. This ongoing delay has disrupted my business operations and access to funds. The pattern shows : Repeated requests for documentation without resolution Failure to complete or reverse a transaction within a reasonable timeframe Lack of transparency regarding the reason for the hold Inability to access or recover my funds This conduct appears unfair and inconsistent with expected standards for money transmitters handling consumer and business funds. Regulatory concerns This conduct raises concerns under U.S. consumer financial protection standards. Electronic Fund Transfer Act ( Regulation E, 12 CFR Part 1005 ) Financial institutions must investigate and resolve issues involving electronic transfers within defined timeframes and provide clear communication. Prolonged withholding of funds without resolution appears inconsistent with these obligations. CFPB prohibition on Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP, 12 U.S.C. 5531 ) Wises actions appear unfair and potentially abusive because : Funds are held for an extended period without clear justification Repeated documentation requests do not lead to resolution The consumer can not access funds or obtain a refund The process lacks transparency and a defined endpoint Failure of timely funds availability and error resolution standards Retaining funds for months without completing the transfer or issuing a refund creates material harm and restricts access to funds needed for business operations. Impact This has caused direct business disruption, loss of access to funds, and unnecessary administrative burden.

Company response to consumer: Closed with explanation