Consumer complaint received 2026-05-05 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Other transaction problem — 
Company: TransferWise Ltd
State: MA

Complaint narrative:
I opened my Wise account in XXXX, 2026. It was suggested to me to use Wise to pay for a virtual assistant who is assisting me with running business reports. Once my account was opened and verified by Wise, I subsequently sent two payments without issue. Those payments were as follows : XX/XX/year> for XXXX {$240.00} XX/XX/year> for XXXX {$350.00} I was sending a third payment on XX/XX/XXXX and received the message Your transfer of XXXX USD to XXXX is set up. Your money will get to us in 3 working days. Later in the day on XX/XX/XXXX, I received the following message : Weve paused your transfer until we can verify your bank account. We need to make sure that this account is yours before we can complete your transfer. Please upload a copy of a bank statement that clearly shows your full name and account number your bank should be able to provide you with a PDF of this. I complied with the request and uploaded an XXXX bank statement. On XX/XX/year>, I received the following email : Weve restricted your account and will close it on XXXX XX/XX/year>. This is because we dont support the way you use or plan to use Wise, and there are strict limits to what we can support as a regulated financial institution. Section 1.2 of our Acceptable Use Policy states that we reserve our right to deny our services to any customers who exceed our risk tolerance. I was then given the opportunity to appeal the decision by submitting a written explanation on why my account should be reopened. I wrote the following : Thank you for the opportunity to appeal our recent account closing. The email we received stated the reason for closure was because we dont support the way you use or plan to use Wise. We disagree with this closure because we have no illegal or malicious intent. We are an honest company simply looking for a secure way to pay about XXXX {$500.00} a month to a person helping me run business reports for my company. If we are doing anything wrong, Im happy to address it directly and provide any additional information or evidence you may need. We have nothing to hide. My name is XXXX XXXX XXXX, I am the founder and owner of my company and have been since I began it over 30 years ago. I own the company 100 %. We are a XXXX ; USA based company and have been incorporated as a XXXX USA company since our beginning. Thank you. On XX/XX/year>, I received a new email with the following : Weve decided to keep your account closed. We checked the info that you sent us, and we wont be able to reopen your account. Were unable to share the specific reason why were closing your account. As a regulated financial institution, there's limited information we can share when we close an account. But we can choose to close an account if we think : * Its a duplicate of another ( you can only have one account with us, unless we agree otherwise ) * Its security has been compromised * There are transactions on your account that we cant complete These are just examples, though. You can find more reasons in our Terms of Use, where we explain how were allowed to close accounts. We dont feel the three reasons given above for closure apply to us. However, we are not being given the opportunity to address the specific reason for closure so that we can address it directly. As an honest, XXXXyear-old, USA company just trying to pay a few XXXX dollars a month to a person who is in another country helping us run reports, I cant figure what Wise could be considering reason for account closure. Thank you.

Company response to consumer: Closed with explanation