Question How to get my money back from Wise.com

[taylanduran]

Unfortunately, it is exactly so. In some/many cases, Wise freezes (especially business) accounts without an understandable background but this case is perfectly transparent. (WTF, how could you pick up an idea to pay for a crypto from Wise – if it is perfectly clear that it leads to the account closure? But it is your business )

If your priority was and is to have your money back ASAP, it was probably contra-productive to file an appeal. The probability to have your account reactivated is extremely low and the appeal process only eats time. (AFAIK, they will not send you the money back until closing the appeal file.) Perhaps you can write to them that you understand that you made a mistake, so you are withdrawing an appeal and just asking for your money back (a small “sorry” could also help).

At this moment, there is no base for complaint against Wise with the Financial Ombudsman. You can use it when the process takes more time than it is in ToS (or more, than it is reasonable).

I sent a email and asked for update by kindly way. I hope soon i will get if not i will be in trouble.

what did he wrong? is his money you w see wise is a scam

I agree and what is the reason of holding money? For what? If i did something wrong give my money and close account.

 

[Forester]

what did he wrong?

He used the Wise account for payment for a crypto-related operation what is clearly against their Terms of Service.

is his money you w see wise is a scam

I do not like Wise at all and I am not recommending using it to anyone; but in this particular case, Wise is not guilty.

I sent a email and asked for update by kindly way. I hope soon i will get if not i will be in trouble.

As per the others experience (search the forum), shortest time is ~ 2 weeks... (longest – better do not recall, several months). It was the reason for what I did not consider proper to appeal. Good luck.

what is the reason of holding money?

Of course they cannot hold your money unless there is a reasonable probability that the money are somehow related to a criminal activity. (I think there is not.)

For what? If i did something wrong give my money and close account.

Yes. The only problem is that the compliance department is bend by AML regulations to investigate whether it was just a breach of ToS or something more serious (a criminal activity). Of course that it is misused (over-used) in many cases; the underpowered compliance depts are under strong pressure not to overlook anything and are reluctant to risk literally anything.
Lesson: Never, really never perform any action that is expectable to trigger compliance investigation. Especially with the institution like Wise that is driven by AI and trained monkeys and not by qualified humans

 

[taylanduran]

He used the Wise account for payment for a crypto-related operation what is clearly against their Terms of Service.

I do not like Wise at all and I am not recommending using it to anyone; but in this particular case, Wise is not guilty.

As per the others experience (search the forum), shortest time is ~ 2 weeks... Good luck.

Of course they cannot hold your money unless there is a reasonable probability that the money are somehow related to a criminal activity. (I think there is not.)

Yes. The only problem is that the compliance department is bend by AML regulations to investigate whether it was just a breach of ToS or something more serious (a criminal activity). Of course that it is misused (over-used) in many cases; the underpowered compliance depts are under strong pressure not to overlook anything and are reluctant to risk literally anything.
Lesson: Never, really never perform any action that is probable to trigger compliance investigation. Especially with the institution like Wise that is driven by AI and trained monkeys and not by qualified humans

Thanks for advices. Its annoying that I can’t do anything for my money :/

 

[Forester]

Thanks for advices.

You are welcome.

Its annoying that I can’t do anything for my money :/

You can; but if you invite some another party (like bank) to a game, you are a little bit limited

 

[taylanduran]

You are welcome.

You can; but if you invite some another party (like bank) to a game, you are a little bit limited

What you mean invite another party? can you tell me more? Just for curiosity

 

[Forester]

What you mean invite another party? can you tell me more? Just for curiosity

Sorry. It is just a bookish language. I meant that you could do with your money anything you want – if you did it alone. But if you engage a bank or an EMI or whatever else, you will have to respect their rules.

 

[taylanduran]

Sorry. It is just a bookish language. I meant that you could do with your money anything you want – if you did it alone. But if you engage a bank or an EMI or whatever else, you will have to respect their rules.

Oh i got it sorry english is not my mother language. I am living in Poland and no one use cash and even u can’t buy bus ticket by cash. Its hard to know their all rules. I was in hurry and i made a mistake. I was buying crypto with my polish bank card and i thought its not gonna be problem. Anyway somehow its gonna be fine. Have good day

 

[Forester]

Oh i got it sorry english is not my mother language.

No problem

I am living in Poland and no one use cash and even u can’t buy bus ticket by cash.

Well, my experience from current Poland is different – but I must admit I did not pay for buses there, mainly for hotels, food and drinks; and cash was pretty usable (sometimes even the only possibility ) But it's OT.

Its hard to know their all rules. I was in hurry and i made a mistake.

s**t happens – and you can learn.

I was buying crypto with my polish bank card

BTW, it's not so OT: What Polish bank are you using for this? I think not all are crypto-friendly... (My guess – M-bank?)