Wise account gone

[galadrel]

4 years of using TransferWise and now I have been blocked. Now, I didn't break any agreements, I do not have a "high risk" business, I have no chargebacks. Didn't do anything shady at all, didn't make transfers to random people, or receive transfers from random people. Used it for typical purchases, withdrawals here and there. My payments came from Stripe, exclusively. It seems I'll have to resort to using Payoneer now, fortunately I did try it once and Stripe to Payoneer does work, then to local bank account.

This was not on my bingo list for 2024. Perhaps I should try my luck at appealing, that is one of the options too. But the cold hand of online banks I now feel once more, they have too much power. Just out of the blue and boom gone, money frozen... cannot be accessed. It wouldn't happen with a local bank, not for such a sum as barely breaking 10k a year.

I won't tell you not to use TransferWise like most other posts here, never bought into them and still don't, it's been a fine service to me. I am sure they have their reasons... ever their little algorithms looks and seeks for irregularities. But I am now gonna try to detach from these online banks entirely, too much risk.

 

[ShillGates]

(could be even 2 years ago) its because you received or send money to a client who f-ed it up - there wise software cuts everyone out who is attached by the first degree

 

[Sols]

Was it a business account? What were the Stripe payments for?

 

[galadrel]

Was it a business account? What were the Stripe payments for?

No, not a business account. I am a freelance web developer.

 

[kalikex]

4 years of using TransferWise and now I have been blocked. Now, I didn't break any agreements, I do not have a "high risk" business, I have no chargebacks. Didn't do anything shady at all, didn't make transfers to random people, or receive transfers from random people. Used it for typical purchases, withdrawals here and there. My payments came from Stripe, exclusively. It seems I'll have to resort to using Payoneer now, fortunately I did try it once and Stripe to Payoneer does work, then to local bank account.

This was not on my bingo list for 2024. Perhaps I should try my luck at appealing, that is one of the options too. But the cold hand of online banks I now feel once more, they have too much power. Just out of the blue and boom gone, money frozen... cannot be accessed. It wouldn't happen with a local bank, not for such a sum as barely breaking 10k a year.

I won't tell you not to use TransferWise like most other posts here, never bought into them and still don't, it's been a fine service to me. I am sure they have their reasons... ever their little algorithms looks and seeks for irregularities. But I am now gonna try to detach from these online banks entirely, too much risk.

with wise recive payment from Banking circel and clear junction releted Payment its big Noo also wise and payoneer big no dont do my 2 account blocked

 

[galadrel]

with wise recive payment from Banking circel and clear junction releted Payment its big Noo also wise and payoneer big no dont do my 2 account blocked

Seems pretty random to me though. This is something their algorithms would pick up on almost immediately and would not wait 3 years to ban you, and I've never had such thing happen to me. Doesn't seem like a big no to me cause from the getgo I've been receiving money from Stripe. I've just appealed though, maybe they unblock me, but at the very least I hope they send the money back soon. These Stripe payments I receive were often too so their algorithms would be well aware of this.

But who can say anymore, that to me always seemed the problem with these online institutions, at any moment they can slap you in the face and freeze your money. It was fun while it lasted but they almost caught me with my tail between my legs if I put all my eggs in one basket.

 

[ShillGates]

you dont get it - you receive payment from Innocent trading company ltd in 2018. All fine. In 2024 Innocent trading opens account with wise. All fine, then innocent trading company receives a payment from "Missiles r US" in afghanistan. That is when the story starts for you

 

[Alexmorgan]

4 years of using TransferWise and now I have been blocked. Now, I didn't break any agreements, I do not have a "high risk" business, I have no chargebacks. Didn't do anything shady at all, didn't make transfers to random people, or receive transfers from random people. Used it for typical purchases, withdrawals here and there. My payments came from Stripe, exclusively. It seems I'll have to resort to using Payoneer now, fortunately I did try it once and Stripe to Payoneer does work, then to local bank account.

This was not on my bingo list for 2024. Perhaps I should try my luck at appealing, that is one of the options too. But the cold hand of online banks I now feel once more, they have too much power. Just out of the blue and boom gone, money frozen... cannot be accessed. It wouldn't happen with a local bank, not for such a sum as barely breaking 10k a year.

I won't tell you not to use TransferWise like most other posts here, never bought into them and still don't, it's been a fine service to me. I am sure they have their reasons... ever their little algorithms looks and seeks for irregularities. But I am now gonna try to detach from these online banks entirely, too much risk.

When i wrote about my account that they closed it you were defending saying 4 years and you didnt have a problem now you joined the club

They are relaying on AI program that can be triggered by any mistakes by you or them then your account immediately close and no one will do anything for you

And listen to me

Appealing wont let your account open

 

[galadrel]

When i wrote about my account that they closed it you were defending saying 4 years and you didnt have a problem now you joined the club

They are relaying on AI program that can be triggered by any mistakes by you or them then your account immediately close and no one will do anything for you

And listen to me

Appealing wont let your account open

I mean I'm well aware of how these online institutions works. Their algorithms look for any irregularities and then ban you if your risk is too high, I know this because I've dealt with PayPal 6-7 years ago one too many times. Yes, probably it won't, but might as well try, had to give them the bank details anyway for the "refund". But it can at times be just a check and nothing more. I've dealt with Stripe many years ago, and then a year ago again, asking me about my business etc, and they reapproved it each time very fast, though I'll say my experience with Stripe has been different, they might have actual humans working in those offices.

Either way, I do not have any interest in risking money that I earned with these toy soldier banks. Perhaps if I was swimming in money.

 

[bibing]

Your wise account was a business type right? Not personal, right?

 

[vgahdmi123]

he said it was personal, be careful, they are very sensitive and they do checks periodically.
Once I sent MAG IPTV Box on Ebay, and guy who paid wrote in description "mag iptv box".

they blocked me after 1.5 years, and when I asked for reason, they told me that I have received transaction for iptv device which is prohibited on Wise.
they figured out 18 months after.
however, they told me that my card will be active 30 more days so i can take out the funds.

 

[galadrel]

Your wise account was a business type right? Not personal, right?

No, not a business account. Not that you need a business account to use Stripe. Maybe that's the reason. But consider that it's probably less than 10k annually, and some months I don't have payments coming in at all.

 

[bibing]

That is the reason why they closed your account right there. At the end the algortighm caught you.

 

[wellington]

Gone are the days you could put 6/7 figs near wise.

Use it as a last resort and a passthrough to a traditional bricks and mortar bank. Having said that they can be much worse.

If it helps

Mr Kristo Käärmann	CEO
Email	[email protected]

 

[galadrel]

Gone are the days you could put 6/7 figs near wise.

Use it as a last resort and a passthrough to a traditional bricks and mortar bank. Having said that they can be much worse.

If it helps

Mr Kristo Käärmann	CEO
Email	[email protected]

Well I'm barely touching 10k a year. I am a small fish. I did once 6 years ago or so, send an email to Jeff Bezos's email when my Amazon account got flagged after a purchase with a gift card, interestingly enough it was unlocked the same day. Strange, but those emails are taken a bit more seriously at times... if someone important enough sees them.

 

[diatessaron]

you dont get it - you receive payment from Innocent trading company ltd in 2018. All fine. In 2024 Innocent trading opens account with wise. All fine, then innocent trading company receives a payment from "Missiles r US" in afghanistan. That is when the story starts for you

If that's how Wise operates may they go bankrupt right this second. Friend of a friend of a friend (whom I have never met) was arrested for drunk driving, cops show up at my door to confiscate what wine I have in my dungeon, type of schemes.

From what I know, Wise has a very paranoid compliance department, and that paranoid compliance department made the bot which bans accounts. What's worse is that Wise refuses to pay a team of people who will check if the bot has gone rogue or not, if it bans accounts for no reasons, etc.

 

[cuno]

From what I know, Wise has a very paranoid compliance department, and that paranoid compliance department made the bot which bans accounts. What's worse is that Wise refuses to pay a team of people who will check if the bot has gone rogue or not, if it bans accounts for no reasons, etc.

That need to be fact checked - there is no evidence for your statement.

Well I'm barely touching 10k a year. I am a small fish. I did once 6 years ago or so, send an email to Jeff Bezos's email when my Amazon account got flagged after a purchase with a gift card, interestingly enough it was unlocked the same day. Strange, but those emails are taken a bit more seriously at times... if someone important enough sees them.

if you receive business related transactions to your account it does not surprise me what happened for you.

 

[galadrel]

That need to be fact checked - there is no evidence for your statement.


if you receive business related transactions to your account it does not surprise me what happened for you.

I guess, but I wasn't hiding I'll tell you this much. The algorithm would have picked up on me a long time ago, but who can tell the secret ways of their algorithms, one day it all can change immediately. Now I have to find a different payment processor and it seems that'll have to be Payoneer which should not mind Stripe at all. Though I'll say Payoneer treats every payment you receive like Iran sent it, I think it's different for when corporations send the money though.

 

[Sols]

I think what did you in was using the personal account as a business account. Unless there is more to the story (and 99% of the time, there is), it seems Wise overreacted to income from Stripe on a personal account. A warning and instruction to open a business account could have sufficed.