Hi
Has anyonevelse encountered problems transferring money to France from a UK savings account with Wise? This was a trial run and they failed to make the transfer despite being sent the UKaccount details twice. Now they tell me that my refund has been returned by my Bank as they cant find the account details. (Hint, it was the account the money came from in the first place…)Sound familar? (They have been sent local bank details as well as the IBAN for the account.) Im still waiting for a reply yo the letter I sent hem about the unfortunate attitude of their Customer Support dept. Where to now?
Frustrated!
Would a direct debit work to that type of account? ISTR older savings accounts didn’t use to be able to take direct debits which is more or less what Wise would be doing I guess.
I have never had any problems with Wise. I have heard of people who have, but (as far as I can remember) the problem was always caused by money-laundering regs or something similar. The effect of the application of the regs sometimes causes problems.
Other FX companies are available.
Hi Karen
DD are fine on this account as are Standing Orders and FastTransfers. Wise seem to have no trouble taking the money, but I’ve run out of ideas as to what info they need to either send or refund my money.
Sent money last night via wise, no problem.
I have found Wise rock solid. I’ve even trusted them with very large sums of money and all went swimmingly.
Yes also just received the mail from them informing of increased charges + what also gets me is the fact they charge for anything over 3k euros held in the account if it’s a private account. Don’t you just love it when a service becomes popular for good reason, then they start hiking their charges 
A bit like those little known great places to visit, that suddenly don’t seem so great once everyone gets to know about them 
Cough, cough, Revolut
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To be fair to them the good reason they became popular is that like all fintechs they took vast amounts of investors money and then used it to offer customers services at a cost that made them no money, and generally loses them significant money. I’ve never rated Tranferwise as a company or a business, they’re very poor, but they make people here happy because they get you cheap exchange with little hassle which is all the basic customer needs. But for all of them it’s never sustainable to offer the incredible product they start with. Revolut have flogged over a million I think of their terrible value premium offerings which because customers want extra transfers or a metal card has allowed the business to at least stem the tide of money going in only one direction; out of the company’s account, but Wise don’t really have that USP, which is why the only way they can hope to make money is by adding more charges for customers.
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Have they switched from flat ratr charges to % charges as well? 0.41 is looking very, very close with a couple of cards that convert at bank rate. Or even Mastercard which tends to be about 0.5% loading on bank rate.
Just discovered another problem with Wise. They don’t do rétrofacturation, or chargeback. With my normal bank, on both credit and debit card, if a company fails to deliver the good once can claim on one’s card. Not with Wise.
OH has no christmas present,
Really sorry to hear that.
I use Wise only for foreign exchange transfer because it isn’t a bank. I hadn’t thought about it before, but that must be why it doesn’t do all (most?) of the thongs a bank dies.
I generally only use it for transfers, but do have a €100 balance and a card for it as a back up piece of plastic, which I don’t normally use. However i did so exceptionally for this purchase as a gift, so not wanting it to appear on our joint account! And wise is som much easier as no running up and down the street to get codes.
I have learnt my lesson!
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I’m not going to ask you lots of stupid questions that you will have already done Jane because you seem like someone who knows what they’re doing, but having instigated, and successfully received, chargebacks with Transferwise when using the card in the past, I wonder what has changed as they certainly used to. I wonder whether it is a policy change or something different in our situations. Either way, I’m sorry to hear that, they have been getting worse for some years so this is another annoyance, both generally for users, and for you personally of course.
Hugely interesting Kirsten! I just looked on their FAQs, but perhaps I should ask more directly. Thanks.
Who is the backing company for a Wise card? Sorry never considered them for anything but transfers so always good to keep abreast of things. Debit cards dont have these facilities
Yes they do. Or rather yes they can, as my real bank debit card provides this, but don’t know about others
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Interesting. I will have to enquire of mine, previously or rather historically it was the consumer credit act that covered the credit side of a credit card but that doesnt mean time hasnt moved on. Could be good news.
Thanks to your suggestion I have dug into their website, and their is a dispute process that can result in refunds. So that’s my first project for the new year!
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