Consumer complaint received 2025-10-08 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Other transaction problem — 
Company: TransferWise Ltd
State: FL

Complaint narrative:
Complaint Regarding XXXX XXXX XXXX and Unreasonable Data Request by Wise US Inc . 

XX/XX/year> To Whom It XXXX Concern : On XX/XX/year>, I made a {$3000.00} transfer through Wise US Inc. ( Wise ), located at XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX ( phone : XXXX ). The purpose of the transfer was to pay urgent XXXX expenses for a seriously ill relative in XXXX. The funds were debited from my XXXX bank account on the same day ( supporting documentation attached ). 

As of todaymore than XXXX weeks laterthe recipient has not received the funds, and Wise has been unable to provide any information as to the location or status of the transfer. Over this period, I contacted Wise six times by phone and email, and I requested to speak with a supervisor on XXXX occasions, but I have received no call back and no meaningful assistance. Wises inability to locate the funds and failure to provide updates are unacceptable and inconsistent with XXXX consumer protection standards for money transmitters. 

XXXX. Failure to Trace Missing Funds Under the Consumer Financial Protection Bureaus Remittance Transfer Rule ( 12 C.F.R. 1005.33 ), Wise is obligated to promptly investigate and resolve any reported transfer errors, and to provide written notice of the investigation results. 

Moreover, pursuant to UCC Article 4A ( 4A-404 ) and Federal Reserve Regulation J ( 12 C.F.R. Part 210 ), financial institutions are required to exercise ordinary care and trace missing SWIFT transfers using appropriate interbank messaging tools such as XXXX XXXX or XXXX XXXX tracking ( via the XXXX XXXX Transaction Reference, XXXX ). 

Wise has provided no evidence that such a trace was initiated or that any intermediary bank was contacted. This constitutes a potential violation of their duty to trace the transaction in a timely and diligent manner. 

XXXX. Unreasonable and Overreaching Data Request After I supplied Wise with my banks statement confirming that my funds were successfully transferred to Wise on XX/XX/XXXX, the company demanded that I submit a record of every transaction in both my account and my recipients account from the day prior to my transfer until the present. 

This demand is excessive and unrelated to the issue being investigated. I had dozens of personal transactions during that period that have no connection to this transfer. Wise has indicated that it would not provide further assistance unless I disclose this private data. 

Such conduct appears inconsistent with the XXXX XXXX ( 15 U.S.C. 6801 et seq. ), which requires financial institutions to limit the collection and use of non-public personal information to what is necessary for legitimate business or regulatory purposes. The request also conflicts with the Federal Trade Commission Act ( 15 U.S.C. 45 ), which prohibits unfair or deceptive acts or practices, and exceeds what is required for anti-money-laundering verification under the Bank Secrecy Act ( 31 U.S.C. 5318 ; 31 C.F.R. 1022.320 ). 

In my experience as a former banker, I have never encountered a financial institution conditioning basic transaction tracing on such an overreaching disclosure of unrelated private data. 

XXXX. Requested Remedies I respectfully request that the Office : XXXX. Direct Wise US Inc. to immediately initiate a formal XXXX XXXX ( XXXX or equivalent ) using the XXXX for Transfer # XXXX and provide me written confirmation of the trace results. 
XXXX. Require Wise to comply with CFPB Regulation E ( 1005.33 ) by refunding or crediting my account if the funds can not be located within the applicable investigation period. 
XXXX. Investigate Wises data-collection practices, as conditioning assistance on the disclosure of unrelated banking transactions XXXX violate federal privacy and consumer-protection laws. 

XXXX. Supporting Documentation Enclosed are : - Wise transfer confirmation ( Transfer # XXXX ) - Bank statement showing debit to Wise on XX/XX/year> - Correspondence with Wise customer support requesting unrelated account data Thank you for your attention to this matter and for any assistance in ensuring that Wise promptly locates or refunds my missing transfer and that its customer-data practices are properly reviewed for compliance. 

Sincerely, XXXX XXXX XXXX ( XXXX ) XXXX

Company response to consumer: Closed with explanation