Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #5851419
Complaint Overview
Complaint ID: 5851419
Company: Transferwise Ltd
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Other transaction problem
ZIP Code: XXXXX
Date Received: 2022-08-06T12:00:00-05:00
Date Sent to Company: 2022-08-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Received USD XXXX for work done by XXXX XXXX XXXX, XXXX XXXXXXXX XXXX XXXX, XXXX to online Bank Account with Wise ( formerly Transferwise ), XXXX XXXX XXXX XXXX XXXX XXXX NY XXXX. To transfer USD XXXX from Wise, USA to XXXX and with no direct way to move money directly from Wise to XXXX, I thought to to move USD XXXX from Wise to XXXX by transfer to a XXXX XXXX XXXX virtual account linked to XXXX. ( account details attached ) On not getting the funds to my XXXX on XXXX XX/XX/2022 as expected, and as displayed on the Wise online funds transfer tracker, I inquired from XXXX. XXXX responded saying, " Even if XXXX XXXX is linked to XXXX, there is no set up for XXXX XXXX to automatically transfer funds to XXXX ( that is nowhere in current existing services offered to XXXX XXXX ). '' ( screenshot attached ) They additionally explained that the virtual account at XXXX XXXX XXXX account and linked to XXXX is not a regular bank account and can only reads funds already in XXXX and can not receive funds directly. Subsequently, I did not and will not receive the USD XXXX through XXXX from Wise. I reported the matter to Wise. They keep insisting that it is only XXXX that can initiate trace the funds. But I did not transfer from a XXXX account, but from my Wise account. XXXX Wise instructions, I asked XXXX to confirm that they indeed sent me the USD XXXX, which XXXX did with a valid bank statement. ( attached ) I also gave Wise my XXXX XXXX statement for XX/XX/2022 showing I did not receive the USD XXXX as expected. REQUEST : could Wise kindly initiate a " trace and recall '' as the USD XXXX is somewhere between Wise and XXXX XXXX XXXX.
Frequently Asked Questions
What is Complaint #5851419 about?
Complaint #5851419 was filed against Transferwise Ltd regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2022-08-06T12:00:00-05:00.
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.