Wise.com Reviews

( 29 reviews )
Website: Wise.com

Wise.com ( formerly TransferWise ) is a company that states their aim is to help customers beat bank transfer fees, allowing their users to participate in a peer-to-peer money transfer services that charges the lowest rates available.

How Does Wise Work?

The basic details of how this service works are for members very straightforward and easy to understand.

Members create a profile, then enter the amount of money they would like to transfer and the destination of where they would like to send this money, and whether they would prefer a debit card or bank transfer.

At this point, the member has done everything they need to do, and Wise.com will take care of the rest.   “The rest” is where it gets interesting.

Wise.com promises to charge much smaller fees – up to 10x less – than a traditional bank when it comes to transferring money to another country and exchanging it to another currency.

Because instead of creating a straightforward transfer and exchange, Wise.com uses an algorithm to tap into a peer-to-peer market. 

According to The Economist, this idea was born when the creators of TransferWise used each other to “transfer” money into the currencies of the countries they lived in and avoided the 3-6% rates charged by traditional banks.

So what TransferWise does is to take your money which is originating in Canada and being sent to Britain, and it finds someone in Britain who is sending their money to Canada. 

Then, instead of actually transferring the money across borders, it simply pays the money out of the relevant national accounts.  

Wise.com can add 19 different currencies to their account and convert between over 50 different currencies.

There are nine currencies that Wise.com can only send out via local transfer, like Indian Rupees, Singapore Dollars, and more.

Certain currencies have some restrictions in certain areas.  For example, if you wish to send more than 1 million JPY to Japan, this can only be done via the SWIFT network, which carries an additional charge.

Cost/Price Plans

Wise.com says that not only do banks charge fees for their transfer and exchange services, they may also charge up to 5% in hidden fees.  Wise.com states that the use the real mid-market exchange rate, with no hidden commissions – all fees will be shown up front. 

The website says that smaller transfer amounts will be charged a nominal flat fee, while after a set threshold a .5% fee will be charged.

This holds true for most currency exchanges, though unfortunately the United States banking system is particularly complicated and fees charged for USD transfers are likely to be different. Their website provides a detailed chart explaining these differences and what, if any, additional fees will be applied. 

Refund Policy

Generally speaking, financial companies do not offer traditional Refund Policies for their services.

This company may offer a Cancellation Policy, though this isn’t clear, so any customer who feels that circumstances have occurred which justify a refund of any associated fees should contact their Customer Service team as soon as possible.  

Customer Service Contact Info

Customers who would like to contact Customer Service with any questions, concerns, or complaints can do so by phone at 888-908-3833 or by email at [email protected] 

Is Wise.com Safe?

We believe the services that Wise.com offers is both safe and convenient, and that the services fees the company charges are transparent.

There are many different financial and business publications which seem very excited about this service and the possibilities it offers users for affordable options in money transferring.

While there are some user reviews which detail bad experiences, like having their account canceled without an explanation or having mistakes made which result in having their transaction failing, which can cause problems for any number of reasons, the truth is that this company appears to have overwhelmingly positive reviews for their services. 

Competitors and Alternatives?

In addition to using your own personal bank to make money transfers, there are many different large scale national services who will help you with this process, the most well-known of which includes Western Union, MoneyGram, and PayPal, among others.

If you have any experience with Wise.com or their services, please leave your reviews below.

You may also be interested in

Wise.com Customer Reviews

  • Sort Reviews By:

Wise.com is a scam
June 7, 2022

Wise.com's Mishandling of my US$2,000 Transfer from Paypal. I would like to report Wise.com's weird payment behavior to you as follows: I have been Wise.com's client since April this year. Wise.com, formerly Transferwise.com is a payment service registered in the UK and I have conducted some investigations before becoming its client.

On May 20 I have withdrawn US$1965 (after deducting US$35 of transaction fee) from Paypal to deposit it to my USD account of Evolve Bank & Trust opened through and trusted at Wise.com. However, a week was gone, my money has still not shown on my Evolve Bank & Trust account at Wise.com. Therefore I have contacted all parties involved in the transaction, incl. Paypal - the Payer, the Evolve Bank & Trust, the bank where my account is actually opened and Wise.com, the payment solution provider that has provided me that account during my registration.

Paypal replied on May 29 that they have made the payment successfully and considered the case as settled. To Evolve Bank & Trust I have submitted my question via their online form and they replied on June 1 & 2.Basically they said that they are a partner bank of Wise.com but they do not have access to my account, albeit under their bank name. As such they suggested me to contact Paypal and Wise.com to find out the reasons, which I have done already, but with no results.

As far as Wise.com is concerned I have talked to its Help Center people a couple of times since May 25 via their Help Center, in chat, per site document uploading or through online email submittals. While chatting on May 25 & 26, I was informed that no incoming funds transfer were detected in my account, my emails and document submittals got no feedback of whatsoever, till this moment when I am writing this email.

Therefore I have conducted some researches of other ways of finding a solution, and finally I found their customer complaints email address at [email protected] and wrote an email to them on June 1.This mail did get replied a couple of hours later, see the email exchange between me and Wise.com's [email protected]

What they said is basically that the transfer of my money from Paypal was completed and the money is at their hand, but they have never informed me of anything since the money has reached them. They said they need some extra checks, but the mechanism of the so called "extra checks" was never implemented, even since [email protected] has promised to enable the mechanism on June 1/2 as stated in their mail. And since then, I have repeatedly ask them to move ahead with their so called checks, however, all my requests were simply ignored and hence I have never heard from them since June 2. I can find no way to trigger the extra check mechanism as they told me.

I don't know what they are doing or want to do against my money, which I earned back 5 years ago with my translation services for a US company called Morningstar. And now my US$ 1965 from Paypal is still at Wise.com's disposal, and my account does not show any evidence of the transfer as indicated by the account statement on June 6.I have no way to get an answer from them, as all my emails get no answers, and their Help Center seems not operational as well.

Apart from the email entry, the chat and telephone functions are all greyed out, there is no way to contact them physically. But emails won't get answered at all. Therefore I have now no way to get any replies from Wise.com. They simply seem to have disappeared from the world.Then what they want to do with my US$1965? Do they want to retain my money forever as their own? Can anyone else do such thing as Wise.com is doing against people like me? My money was legally earned through my expertise service.

I am a linguist cum IT engineer with IC design and web/mobile development as my key expertise right now. I have discontinued with my language services a couple of years ago for various reasons, although I am proficient in English, German and French since the early 1980's. I am not a rich person, just on contrast, I am very poor, because I am not earning money through illegal ways. Therefore US$ 2000 is a big money to me. If someone steals that amount of money from me, that equals the killing of mine. I don't think anyone in the world can keep my money without my agreement for any reason.

I consider this act of Wise.com a crime, and therefore I want to seek justice with relevant financial and government authorities in the countries involved with this case. I hope God and justice will finally prevail and evil=doer like Wise.com will get severely punished. How severe they shall be punished, we shall work out a scheme together.

Wise stole my savings.
May 26, 2022


I am going to tell you my story of a person who was cheated by Wise. I am a refugee and needed to reinvest some money because of the conflict in Ukraine.

I topped up my wise account, and when I tried to send the money, they first froze the transaction for a couple of weeks. I could not get any answer from the support team but "Wait. We are working". Then they closed my account.

I tried to request my money back, but they ignore every letter I send them, leaving me alone without money.

Don't use wise.com service . there is no option for no star ?
March 19, 2022

Don't use wise.com service . thier customer service is non responsive , and unprofessional.

after doing 100+ transaction in the last 3 months they start to pause transaction and hold your money for up to 26 days, for no apparent reason .. they even held funds for humanitarian aid to Ukraine citizens .. !! thanks paypal and western union to resolved the issue ..

Asherzelmati May 05, 2022

Why Wise is not a reliable bank? My wife opened a Wise account and transferred her money to it. After one year, Wise wanted to verify again her address again. My wife undertook to send them all the requested documents but in the meantime, Wise blocked her Mastercard and her bank account. She no longer has access to her account and pay her bills.

She has been fighting for two weeks and she has no news from Wise. She can't do anything.. she is worried about her money. We have never had this kind of problem in our 30 years of experience with banks! Even when there are payment problems (which there are not), you can still access your account and use your money.

Do you accept that your bank account is blocked, that you can't consult your account or pay your charges anymore...? Well, Wise can block your account and your money for a simple administrative question and without you being in the illegality.

MarkChen June 09, 2022

Wise is a scam, a rubbish company. Stay away from it and sue it for stealing our money!

Variable Exchange Rate
March 18, 2022
Overall works quite well, the only caveat I would add is watch the 'actual' exchange rate you receive, it is rarely their daily advertised rate nor is the the 'guaranteed' rate they offer at transfer time, they always deliver the funds AFTER the guarantee time expires. At least when banks rob you, they do so to your face and not surreptitiously.

Wise will keep you money.
March 14, 2022

I would give it no stars

Do not use this company at first everything is okay, then when you next make a transfer they kept the money. You can complain all you like but you will never get you money back. Nice way for Wise to increase it's income. It's happened to other members of my family and friends what is worse I recommend wise to them.

The only people wise help are themselves.

They stop access to your funds with out any warning. They will not refund your money. Have a complaint lodged with Financial Services hope this company is made to cease trading.

A Wise Man avoids WISE.COM
March 13, 2022

I am going to report Wise.com to the US government's FTC Department of Consumer Affairs. You are operating a very questionable business, in my opinion, a "scam" operation. You closed my Wise account holding over $200 in it.

Now, with the account closed, I have no means to log into it. Wise has a posted message: "Sorry, we deactivated your account."

MarkChen June 09, 2022

Nice and right title!

Lack of support
December 9, 2021
Impossible to get decent support. They just don't seem to care. Definitely can't get to speak to a human. If you like working with an uncaring robot then go ahead and join them.

YoungKo February 26, 2022

The worst thing is that your account will be closed without telling you any reason, and will choose when have just received the money, and you will not be allowed to log in to view it after it is closed. My account has been closed for three months and I still haven't gotten a refund.

MarekBryja March 23, 2022

same here....

MarekBryja March 23, 2022

@YoungKo did you get refund yet?

Wise is a scam
September 21, 2021
They canceled my account after six months with no reason, 20 days have passed and they are keeping my money. This is a fraudulent company.

Illegally holding my money!!
August 3, 2021

Less than 1 if I could.

They de activated my account. I don't really care as the service is crap. I have no real need for it due to the fees being higher and costs less attractive than advertised.

It is now going on 60 days and I still have not had my money refunded. Their process to request a refund....for MY money requires login. Except I cant't login due to their idiotic rules!!

This is a scam. They are holding my money without reason.

It is fine to close my account but give me back my MONEY.

Absolute jerks.

They stealing your money
July 16, 2021

Please be careful with this app. They are stealing your money with million of reasons. I have transfered my money since the end of May. And they keep delaying the process asking a lot of documents until now.

So I asked them to just return my money and i will transfer it using local bank here. But they deactivated my account. Dear wise when will you return my money? (July 17, 2021 still no news about my money)

Transferwise or wise its a fraudutent company
June 3, 2021

They accused my company of fraudulence after been with them for 3 years.

Transferwise is a scam! They close your acct without reason, cannot contact customer service, and they won't give you your money back.

A complete scam, don't touch them! the people that work there don't care to help you .. what they do is let you grow with them as a company them they deactivate the account, take everything from you .......

The lawyer of our company asked them for a fraud report they can't even provide because everything is a lie, please help us to shut them down it's important for them to go. Comment on this review...

Works perfect
September 7, 2020
Except for a website time-out (not being able to login on the site or within the app) it works perfect. Transferring lots and lots of dollars and euro's and no issues. Now using as our primary 'bank' account for one of our companies.

GoldmanInvestments June 03, 2021

they change they name to wise.

transferwise is a scam! They close your acct without reason, cannot contact customer service and then won't give you your money back. A complete scam, don't touch them!

My account got hacked
May 6, 2020

I will say that the two times I used the service to send money abroad it worked. I did have the same problems the first time as some have had. They initiate the transfer and make it sound like everything is smooth. Then three days later they start asking for picture ID, tax forms etc. Once you jump through those "hoops" the next transfer actually does go easy.

My big problem occurred 6 months after my last transfer. My account was hacked. Lucky for me I had downloaded the phone app and had enabled notifications from them. One morning at 4am (9am Europe time/bank opening time) I get a notification that there was a transfer of money in to my account. As I only use it between my account in the US and wife's European account, this was impossible. So i got on the phone and told them. They disabled my account. And I believe this happens more often than they let on, and that's where a lot of people are complaining that their accounts are frozen or disabled with no explanation. (my opinion only)

Customer service is there. But it is SLOW. And they never seemed as concerned that my account had been hacked and someone had my information as I was. It took me a lot of harassing of customer service and their facebook page to get any explanation, almost two weeks later. They told me that someone must have hacked my e-mail, got my info, hacked my account, and changed the password. Only problem with that, was my e-mail service was totally uninterrupted. My email is not one of the "big names". So when I called them (and got an American customer service rep) they checked in to all logins to my email and said there was absolutely no strange logins to my account. Which, if that is how someone got my info, there should have been a trail. Transferwise didn't want to hear any of it. Basically said account's terminated ,if I wanted to use the service I would have to start all over and make a new one. When I asked, "why wasn't I informed that there was a password change?" Their response was, "they must have". "Maybe" whoever hacked my account where monitoring my email, (that they said had to be hacked) and intercepted it. But absolutely no other problems on any other account associated with that e-mail. And no strange logins on that account!

I will say that their rates are great. And thanks to their phone app I caught the hackers using my account. And Transferwise did say they "froze" that money. (I wonder who got it, as it was in my account) I was comparing rates with their service and the one I'm using now. They were 40 euros "better" on 3500 dollars than my service. Even with the prospect of having to "jump through the hoops to open a new account, I was considering. Until I started reading some reviews. Just think I'll have to "eat" that 40 euros!

transferwise is a fraud website stolen your money
May 2, 2020

i open account i send 200$ after we detect problem with login to transferwise ,

not problem i use recovery password and here mistake we never received the recovery password

so we try again to reconnect and transferwise lock me account !

she say now me account is look she cancel the transaction and return me 200$ under 10 days

now over 10 days never see money

also is company is cheat because when use

transferwise 1 time for urgence , before i paid she promise delivery 17 avril and juste after paid she send me a email and say sorry maybe arrival on 20 april

is not true plate forme for send money we not recommanded transferwise i suspect lock same account and never refund money.

don't use transwise 1 promise speed delivery is not true !

2 support unprofessional don't know everything say every time we cannot ask you details more for refund or others

3. she don't know where money refund stay is a not true secure website we not recommanded and more we say blacklist transferwise make not true !


'ouvre un compte j'envoie 200 $ après avoir détecté un problème de connexion à transferwise,

pas de problème j'utilise le mot de passe de récupération et ici erreur, nous n'avons jamais reçu le mot de passe de récupération

nous essayons donc à nouveau de vous reconnecter et de verrouiller mon compte en mode transfert!

elle dit maintenant que mon compte est regarder elle annule la transaction et me retourne 200 $ sous 10 jours

maintenant plus de 10 jours ne voient jamais d'argent

est également la société est triche car lors de l'utilisation dans le sens du transfert 1 fois pour urgence, avant de payer, elle promet la livraison le 17 avril et juste après le paiement, elle m'envoie un e-mail et dit désolé peut-être arrivée le 20 avril

n'est pas une vraie plate forme pour envoyer de l'argent, je ne recommande pas transferwise , je soupçonne de verrouiller le même compte et de ne jamais rembourser d'argent.

n'utilisez pas transwise 1 promettre une livraison rapide n'est pas vrai!

2 support non professionnel ne sais pas tout dire chaque fois que nous ne pouvons pas vous demander plus de détails pour le remboursement ou autres

3 ils savent meme pas ou l argent des remboursements est il ce fou de nous !

n utiliser pas transferwise c est un site pas sure

April 15, 2020

I transferred money and all information in the my account looked good, they showed the status changes every day and suddenly in a week they deactivated my account and then told me that they never received my money. My bank confirmed that money have been transferred and I have a confirmation but they keep insisting they never received them.

Never use their services! Stay away from them!

transferwise is a scam!
April 9, 2020
They close your acct without reason, cannot contact customer service and then won't give you your money back. A complete scam, don't touch them!

TransferWise deactivated my account with no explanation and appeal denied
July 5, 2019

I strongly recommend people to NOT use this service :

Many people promote TransferWise Borderless Account so I tried it out

My account was deactivated after I provided all documents for verification. This happened before I even had the chance to use the account. I received the e-mails “We’ve confirmed your identity - We’d love your feedback” and “We’ve confirmed your address - We’d love your feedback” and then when I try to login I see:

“Sorry, your account is deactivated. If you believe this is a mistake, please contact customer support at appeals”

I contacted appeals and this was the answer:"Hi We have reviewed your appeal and we have taken the decision not to reactivate your account"

I literary did nothing illegal, nothing wrong or against their T

It Works For Me At least
January 1, 2019
I have made a few transfers to my account in Portugal from the US, no hiccups whatsoever. In fact, I received a credit in Portugal before they're able to collect funds from US account.

Vinnie March 14, 2022

Wait until you have had your account for a few months then they will freeze your account and keep your money.

Transferwise is a scam!
December 24, 2018

In my situation, in order to avoid delay, all documents had previously been sent and checked to be sure everything would be fine. But they said that in order to process my transfer they needed further information to check the origin of my money.

And although the funds left my bank account immediately, they said they received the funds too late (at this time the exchange rate was no longer guaranteed and the new one was more expensive!) and then start the exchange currency and transfer process. So I had no choice but to accept the new rate, as I really needed that money.

But the transfer never occurred! It was stuck in their bank account in Germany (as it was an Euro conversion).

After that, they told me the transfer was being reviewed (this begs the question of why they wouldn't review it before debiting the money) and that they needed further information and documents to start the process. But the documents had all been sent at the beginning of the transaction!

2 DAYS after they received my money, I received a first request "Please provide your bank statements" as we need to check the origin of your money. I did it straight away, then 2 DAYS later another request " please provide another bank statement" to know where my money came from, and then 2 days after that "please provide 10 years of your payslips" as we need to check the origin of your money...(after I had provided them with several bank statements, certificate with name of the life insurance company where I took my personal saving funds…)

This was ridiculous!

I contacted them many times by mail and received replies from at least 7 different persons, all asking for different documents that had already been sent at least twice before; then no reply or a reply asking for more checking information. I also tried the online chat room which never opened or tried to phone ( an Estonian number) but nobody ever answered except an answering machine...They claimed they attempted to phone me but could not reach my number (?). However I received several calls from Estonia, disconnected at once whenever I picked up... The last person I had contact with through e-mail absolutely wanted to contact me directly by phone to get “some documents needed”, because he said he couldn’t ask for them in writing! it was such a piece of joke !!! of course, finally he said he couldn’t phone me because his phone couldn’t reach an overseas number ! So I asked for skype, whatsapp, without success, then his phone number (which was in fact, after several tries, connected to a machine!)

After 10 days without any transfer, I managed to cancel the transaction after threatening legal action and waited for my money for 5 days, not knowing if I would ever see it again! But fortunately I got it back.

Their "customer service" consists of blaming the customer, asking for endless and ridiculous documents and information, impossible to provide. The messages you receive are vague, misleading or not true.

Warning: DO NOT USE TRANSFERWISE. They will take the money you have transferred to them and keep it so that they can earn benefits from your money but your transaction will never be completed!

Like a lot of people, I had read lots of positive testimonies, I’m sure they were fake, or they were very lucky people !! The greatest risk is that TransferWise will go bankrupt disappearing with the unlucky customers’ money, So I hope my experience will serve people.

It works for me so far...
November 30, 2018
I have used this for about 6 months sending a total of $4000 USD and never had any problem. Their customer service is very responsive and I always know what is going on with my money...

Mats Sjoberg December 08, 2018

Try transferring anything over $10,000 and please let me/us know how that goes. My experience with TransferWise is that they do NOT honor amounts higher than $10K and ultimately will deactivate your account if you have multiple $10K transfers within one week. Do NOT use this service if you want to protect and have access to your capital.

ZoltánFüzesi December 09, 2018

I can not say anything about that, and I do not see it right now that I will transfer more than a few thousand dollars at once... Sorry to hear your loss, but I would be really interested in how it ended up for you finally.