Money transfer, virtual currency, or money service -- Unauthorized transactions or other transaction problem -- Complaint #4845621
Complaint Overview
Complaint ID: 4845621
Company: Transferwise Ltd
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem
State: Colorado
ZIP Code: 815XX
Date Received: 2021-10-26T12:00:00-05:00
Date Sent to Company: 2021-10-26T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XXXX Transferwise ( wise.com ) took {$700.00} out of my bank account. On XX/XX/21 Transferwise ( wise.com ) took {$700.00} out of my bank account. I have only approved one of the 2 transactions. Transferwise says that they only took {$700.00}, not {$1400.00} but my bank account clearly shows {$1400.00} has been deducted. In the Transferwise app, it only shows {$700.00} was taken. Transferwise says that they had investigated this and this was their response : " Our payment 's team has investigated this, and we can confirm that only one payment of {$700.00} was taken from your account. It looks like two transactions from your history, but the first " deduction '' was our system communicating with your bank to check if your balance can cover the total amount of bank debit transfers over the past 4 business days. The only payment was pulled out on XXXX XXXX XXXX ( UTC ). '' So basically Transferwise is denying having taken {$700.00} on XX/XX/21 when it is clear from my bank that they took {$700.00} that day. I am attaching my bank account 's transaction activity showing dates from XX/XX/21 to XX/XX/21. It clearly shows that 2 different {$700.00} amounts were deducted and not refunded ( each transaction also has a different ID # ). I am also asking my bank to look into this as Fraud but have not yet received a response since I requested an investigation 12 days ago. Thank you so much!
Frequently Asked Questions
What is Complaint #4845621 about?
Complaint #4845621 was filed against Transferwise Ltd regarding Money transfer, virtual currency, or money service specifically about Unauthorized transactions or other transaction problem. It was received by the CFPB on 2021-10-26T12:00:00-05:00.
How did Transferwise Ltd respond to this complaint?
The company responded with: "Closed with explanation". The response was 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 Transferwise Ltd?
Yes, visit the Transferwise Ltd company profile at readthecomplaint.com/company/transferwise-ltd 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.