Transfermate someone knows?

[OffshoreBVI]

I've done many transactions with TW, other than a few small issues they've been great. We're fully verified both personal and business and the most we've got is maybe a question as to the source but the transaction was never slowed down.

 

[David97255]

Well...
I must say i'm a bit afraid now.
Until now my experience with transfer-wise is very good, everything go smooth ( well not the fastest payments i saw ) but good, good customers support too. Done a lot of deals between 500 to 1500 euros.
But yesterday i moved bigger funds, i hope i won't live the same experience as "Rachel" ,
unfortunatelly some emi's are usual to do that ( closing account without warning, blocking, and then no answer from them ).
I ll update here .

 

[David97255]

Sorry last point about transfer-wise for now. Ok it's sounds like cry but i'm agree with Rachel on one point . When an EMI open an account , they must ask for everything before verification. When an account is verified and receive money there is no point to ask for new thing ( except invoice, proof of shipment, supporting sales documents ) , it s all the matter between VERIFIED or UNVERIFIED.
It s a general opinion, until now nothing bad to say about TW

 

[Martin Everson]

It is your duty to read the terms and conditions carefully before agreeing to use any EMI.

As for Rachel...lol. Rachel is a dude pretending to be a woman with a avatar from a Russian bride dating site, lets stop pretending for a moment

'He' is entitled to complain and people are entitled to disagree. However it is important everybody has some understanding of basic compliance in an EMI and do not for example try and commit a pass-through transaction as he did with no economic purpose and then expect his account not to be closed...lol.

 

[David97255]

It may be because i m not into russians women, i prefer mediterraneen ones.
I havent said nothing against TW because as i said , until now and hope for the future too everything goes well.
In fact my meant was for another EMI.
I will try with my english ( bad ) to explain what i think.
Let's say i open a bank account at a local agency, do you think i ll let them say me " your money is blocked, we will release it one day or not, and for the reason well , it's compliance reason " Of course not, or i come home the same days with my money or they can call the police.
I got another problem with EMI's, the first idea was great..make it easy simple and fast. But day after day i look at that like the best scam of the 10 last years...blocking without warning, all with the same reason ( compliance or security ) and then it s a silence time from them without respect.
I'm not a child i know there is Kosher, medium kosher and not kosher business at all. But each time they block an account it can't be not kosher ( too simple ).
My question is simple @Martin Everson , you seems to know things that i don't, what happen to this frozen or blocked money that they never send back?

 

[Martin Everson]

Let's say i open a bank account at a local agency, do you think i ll let them say me " your money is blocked, we will release it one day or not, and for the reason well , it's compliance reason " Of course not, or i come home the same days with my money or they can call the police.

The only question that matters is did you read the terms and conditions you agreed to when you signed up with an EMI? What you feel is logical or right and wrong, kosher or non-kosher is superseded by the terms and conditions you agreed to . An EMI can say they will keep your money forever if you agree to it in the terms and conditions..lol. For example the dude pretending to be this 'Rachel' did not read TW terms and conditions at all. It is clear as daylight they can request further information after being verified and close your account as they wish. If you have a problem with that then don't use their service.

Lets look at TW Terms of Use and acceptable use policy.

TransferWise - Send Money Abroad-Customer Agreement - TransferWise.com

2.6 You accept this Agreement. By visiting our Website and/or using our Services (including downloading and using our App, or via the API, a social media platform or other authorised third party), you confirm that you accept and agree to this Agreement (including the Customer Updates and the additional documents referred to above). If you do not agree, please do not use our Services.

9. Getting to know you
9.1 We are required by law to carry out all necessary security and customer due diligence checks on you (including any parties involved in your transaction for example, your recipient) in order to provide any Services to you. You agree to comply with any request from us for further information and provide such information in a format acceptable to us.


TransferWise - Send Money Abroad-Customer Agreement - TransferWise.com

3. Suspension and termination
3.1 We alone will determine whether there has been a breach of this acceptable use policy through your use of our Services.

 

[Mihail]

It may be because i m not into russians women, i prefer mediterraneen ones.
I havent said nothing against TW because as i said , until now and hope for the future too everything goes well.
In fact my meant was for another EMI.
I will try with my english ( bad ) to explain what i think.
Let's say i open a bank account at a local agency, do you think i ll let them say me " your money is blocked, we will release it one day or not, and for the reason well , it's compliance reason " Of course not, or i come home the same days with my money or they can call the police.
I got another problem with EMI's, the first idea was great..make it easy simple and fast. But day after day i look at that like the best scam of the 10 last years...blocking without warning, all with the same reason ( compliance or security ) and then it s a silence time from them without respect.
I'm not a child i know there is Kosher, medium kosher and not kosher business at all. But each time they block an account it can't be not kosher ( too simple ).
My question is simple @Martin Everson , you seems to know things that i don't, what happen to this frozen or blocked money that they never send back?

Hello. My story is the same - good for small transactions, then they suddenly deactivate my account when I received a bigger payment.

Reason for deactivation - none. I have to appeal with their Appeals department. LOL

 

[David97255]

Hello. My story is the same - good for small transactions, then they suddenly deactivate my account when I received a bigger payment.

Reason for deactivation - none. I have to appeal with their Appeals department. LOL

What do you mean bigger? How much?

 

[David97255]

Update
I own few accounts at Transferwise.
All are verified business account. Made a lot of transactions with them and it was smooth
Unfortunately since yesterday all my payment are on hold. Even if it's verified business account they ask for selfie with Id card. And origin of funds. So be aware seems that the rules are changing there

 

[Mihail]

Well, this sounds okay.

My account was terminated and they are saying they cannot offer their services to me anymore.

All payments have been refunded to my clients.

 

[David97255]

Well, this sounds okay.

My account was terminated and they are saying they cannot offer their services to me anymore.

All payments have been refunded to my clients.

Well if they send back the payments, it s better than nothing.Will update, already forwarded them all requested documents.