Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #19656145
Complaint Overview
Complaint ID: 19656145
Company: Wave Financial USA INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Other transaction problem
State: Oregon
ZIP Code: 975XX
Date Received: 2025-10-27T12:00:00-05:00
Date Sent to Company: 2026-02-20T12:00:00-05:00
Company Response: Untimely response
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
To Whom It May Concern, I am filing a formal complaint against Wave XXXX XXXX regarding a fraudulent transaction that occurred through their Wave Accounting / Payments platform. Our small business, XXXX ( XXXX XXXX XXXX ), discovered that a customer named XXXX XXXX initiated a fraudulent order and payment through Wave on XXXX [ insert date ]. We immediately notified Wave and requested urgent help to dispute and stop the transaction. However, Wave took no timely action to block or report the fraudulent activity.As a result : We were charged a {$70.00} wave transaction fee and a {$15.00} bank fee.The fraudulent customer initiated a chargeback, and Wave demanded repayment from us even though the fraud was clearly reported in advance. Our bank, XXXX, acted quickly to secure the funds, but Wave provided no assistance or documentation. We requested that Wave : 1. Provide official documentation confirming that the fraudulent customer ( XXXX XXXX ) XXXX bank ( XXXX XXXX, ending in XXXX ) actually debited Waves funds for this transaction. 2.Contact the fraudulent customers bank to submit a chargeback dispute and keep us informed of any progress 3. A full refund of the {$85.00} in fees charged to us. 4. Written confirmation that Wave has reported the fraudulent customer to the relevant bank. 5.Immediate withdrawal of Waves repayment demand to XXXX This mishandled fraud case has caused both financial and operational damage to our small business. We request the assistance of CFPB to investigate and ensure a fair resolution. Thank you very much!
Frequently Asked Questions
What is Complaint #19656145 about?
Complaint #19656145 was filed against Wave Financial USA INC. regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2025-10-27T12:00:00-05:00.
How did Wave Financial USA INC. respond to this complaint?
The company responded with: "Untimely response". The response was not timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Wave Financial USA INC.?
Yes, visit the Wave Financial USA INC. company profile at readthecomplaint.com/company/wave-financial-usa-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.