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TransferWise holds money since early January 2019

#81
georgehotze said:
Hello. I had two transferwise business accounts deactivated for 4 months more than 400k. When the case arrived at the ombudsman transferwise refunded the money and informed ombudsman that the case closed. But the reference from transferwise return of capital might case problem to the account you send for refund. So if the bank sees return of funds they might close the acccount also or not accept the refund from transferwise.
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what Ombudsman? of what country? please write site
thanks
 
#82
Admin said:
OP never got back here it seems to let us know if he got his money after all or not. I can't believe that they will keep the money TW is after all a large company and I believe they will release the money after some time.

The problem is if no one will take the time to get back here and report if they got the money so we will never figure this out.
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Exactly Transferwise will send all money to source probably, i’ve same experience with revolut and worldfirst after 40days i’ve got money back.... but i’ve made for both complaint with ombudsman...
 
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#83
lonizzita said:
what Ombudsman? of what country? please write site
thanks
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I would like to know that too. "ombudsman" sounds Swedish but I believe it's not what is meant?
 
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#85
Ombudsman means negotiator between two parties (you and me, you and a company etc). They handle disputes and tries to make you negotiate in order to reduce stress on the Judiciary system (Courts). At least that's what they do in Turkey.
 
#86
Admin said:
OP never got back here it seems to let us know if he got his money after all or not. I can't believe that they will keep the money TW is after all a large company and I believe they will release the money after some time.

The problem is if no one will take the time to get back here and report if they got the money so we will never figure this out.
Click to expand...

OP said he got his money back.

Aug 28, 2019
Hello Guys,
We received refund from TW. It took more than 60 days.
 
#87
#88
Fine, but waiting 60 days for YOUR money cannot be fun. I guess it is the price you pay for being the small guy. Best advice I have seen is use these payments as a stepping stone and get to a real bank a.s.a.p. We have been caught in twice now (i-Account and now ePayments). Thing is they worked perfectly, until they didn't hi%#
 
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#89
DavidLMorris said:
I had the same problem, but fortunately with less money (3000 euros). I started to work online, after my friend's advice who suggested james-scholes.com. I followed all the steps that were mentioned there and being very good at it I started to earn money very quickly. My mom was living abroad and for sending to her money I used TransferWise. They also emailed me a lot, I answered all the emails, and after I never heard from them again.
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Interesting link building strategy
 
#90
good day, i have the same problem now with a account of my company (founded 1987), transferwise has closed our account and we have 250`000k on it. support is not even giving an clear answer and now we have get an email that we have to wait up to 60 business days. we have hired a lawyer now and also informed fca and ombudsman service. thats crazy and i have never seen such a "service"
 
#91
tramac said:
good day, i have the same problem now with a account of my company (founded 1987), transferwise has closed our account and we have 250`000k on it. support is not even giving an clear answer and now we have get an email that we have to wait up to 60 business days. we have hired a lawyer now and also informed fca and ombudsman service. thats crazy and i have never seen such a "service"
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Its an ongoing crack down, freezing the account in a sure way to coerce you to give them the info they want or they will simply close the account and give your money back to you and wherever you will go first thing they will ask is for this information all over again to get that account.
 
#95
if you received a payment where the sender later asked for a chargeback, boom, its a flag at your account.

if they connect your account to crypto (even though tw, i very tolerant with crypto) and this crypto you are sending/receiving to/from is connected to something else that is deemed "subious" , boom its a flag

you may have had your account frozen for several different reasons.
 
#98
That's why they closed the account.

  • Gambling.
    1. Lotteries.
    2. Fantasy sports with cash prizes.
    3. Games of chance with cash prizes.
    4. Sales of in-game currencies by unauthorised vendors.
    5. Any type of gambling payments or businesses related to Turkey, United States, or Canada.
    6. Any other type of businesses related to gambling, up to TransferWise’s own discretion.
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https://transferwise.com/acceptable-use-policy-eea
 
#99
Hera said:
Hello,

I’ve been using TransferWise business account for a standard europeen company for over six months and the service has generally been good.
Then, they started sending a series of emails asking questions about payments I was receiving, and I replied to each one.
This continued through about 5-6 emails, each time asking for more information. I received an email that they’ve deactivated my account for reasons they cannot disclose. They asked me to email them my banking info so they can return the funds in my TW account back to my bank account (~EUR 7000). I responded with my bank details immediately, they answered "We are currently conducting additional due diligence check on your TransferWise account and this can take approximately 60 working days". Then I never heard from them again.
As of today, no refund has been performed by TransferWise. When I sends emails, they reply "we are on it, ss a regulated financial institution we have to carry out simple due diligence checks before we can proceed with such refund. I can assure you that our team is on this and should give you an update as soon as that is completed. " since January, simple due diligence checks!
Do you have any idea about ways to unblock the situation?
Click to expand...
you must contact the ombudsman and you will get your money in 6 months:
How to complain
 
#100
Hi guys,
So I wanted to share you my (negative) experience with Transferwise.
Exactly one month ago, I got an almost anonymous mail from TW, which informed me that my Account was closed.
Off course I wrote to their customer service and they told me that are not allowed to tell the reasons this happened and that for now due diligence checks are being made.
I am a normal clean citizen (not a company) and it was very hard for me see my money being held and I have to be honest, I didn't sleep a few nights.
Anyway, this morning I received a reply from TW after I wrote them yesterday and asked when will they refunded me, and they sent me the receipt that I was already refunded this week.
I don't know if this procedure is 100% legal, but one thing I know... I will never ever keep money in an online bank like TW.
 
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