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2.6 from 44 reviews

Over-promising and under-delivering

I used TransferWise several weeks ago to send a small amount to Indonesia and was impressed by the speed and experience. However, today I tried sending a larger amount to Indonesia via Apple Pay (they promised the funds will be delivered in 5 minutes). The money was successfully debited from my debit card but it never got sent (waited for 2-3 hours). I spoke to the Customer Service and they said the conversion process may take a longer (up to 2 days) but assured me it rarely happens. After waiting some more, I decided to cancel the transfer request and the app said that my transaction cannot be cancelled. I refreshed the app and it said that my transaction has been cancelled and it will take 3-5 business for the funds to be transferred to my bank account (there was warning in the app about this). After waiting that long and now having to wait 3-5 days to get my money back, I will NEVER use TransferWise again.

No problems so far - would definitely recommend

Have made four transfer from Australia to a Chilean bank account with no issues, the money has always arrived earlier the the expected two or three business days. Payments have been made on our end via credit card. Once I accidentally hit the refund button on transaction a few hours after making it. I re-did the transaction as I needed to send the money and was worried that I wouldn't get the refunded amount for a long time however it was back on the credit card within 48hrs.
Transactions were from 500 - 2000Aus and we were really careful when adding the receipts bank account details. Using a credit card is slightly more expensive but quicker and easier then using a bank account so was worth it for us.

Frustrating lack of communication - took 9 days to verify my account

If I'd known how much time and effort it would take just to get my account verified so that I could send a payment to a supplier in the UK, I'd have gladly paid PayPal the extra $3 or so and be done with!

That's the quick summary, but if you want the gory details, read on...

The initial sign-up process appeared to go smoothly enough. At the end of it, there was a message on my main account page that said "Your account is being verified. We'll be in touch if we need more information, so make sure to check your email. It may take us 4-7 working days, but we'll try our best to speed things up."

I not only kept an eye on my email, but also on that page throughout the next 7 working days (that's a week + 2 extra days = 9 days) and nothing budged. My supplier was still patiently waiting for their payment, but since it was apparent that "we'll try our best to speed things up" was just a meaningless platitude, I decided to try to contact TransferWise to find out what the delay was.

Handily there's a local Sydney number I can call during Australian business hours. "Ring... ring... ring... ring..." it went for about 2 minutes. It wasn't a local ring, but it didn't bother me that my call was obviously being transferred to an overseas call centre, as much as the fact that after 2 minutes it just hung up on me. TWICE. I'm not silly enough to try that a third time, so instead, I sent a message through the contact form on the website, the response to which was "We'll reply within 2 business days". Not real impressed!

To their credit, I did get an email reply within about 3 hours, which said "Apologies for the delay in verifying your business. We’re are currently experiencing a high volume of contacts. We’ll get back to you with updates on the business on-boarding process shortly. Meanwhile kindly upload your ID document..."

What the?? I had KINDLY uploaded my ID document NINE days ago! Were they implying that the process had stalled because they didn't get my upload? Or were they really experiencing a high volume of "contacts" (whatever that means) - and would they really get back to me with "updates on the on-boarding process" if my supplier and I just sat around sipping lattes?

Anyway I went back to the website and uploaded both the front and back of my driver licence, per the instructions there.

Almost immediately, I received an automatic email that said "Thank you for uploading a copy of your ID document earlier. It looks like there’s more information printed on another side, which we need to check to confirm your identity on TransferWise..." yada yada yada, implying that I'd only uploaded ONE side of the licence (which was WRONG as I'd uploaded both) followed by "If we don’t receive a new copy in the next 2 business days though, we’ll have to refund any money paid in – we can’t hold your money for too long. Should you have any questions, please don’t hesitate to ask – we’re always happy to help!"

ALWAYS HAPPY TO HELP? Gimme a break. I replied to that in a big, bold, red font that said "I uploaded BOTH sides of my license and everything is clearly displayed!"

3 hours later I received an email that said "Good news, we’ve confirmed your personal documents! Thanks for providing the info we requested this time."

THIS TIME?! So now they have the temerity to suggest that I hadn't already provided them NINE DAYS AGO? And if not, then why didn't they let me know at any time within those 9 days? I have the distinct feeling that if I had done nothing, my account page would STILL be sitting there saying "We'll be in touch if we need more information...we'll try our best to speed things up."

But that wasn't all the email said. It also said "We would love to know how satisfied you were with the experience. It’s so we can know what we’re doing well at, and what we need to work harder at." Ha! My chance to let them have it, with both barrels, in writing.

And 3 minutes after that, I FINALLY got another one confirming that my account had been verified.

And then... 3 days later, another email asking me to complete ANOTHER survey, after I'd already let them know my feelings 3 days prior. Do they even read their survey responses, let alone receive them? And guess what - this survey response was limited to just 500 characters - so if they want to know more... well, I guess they'll just have to read it here.

My impression is that they are likely a small, understaffed outfit, and certainly one that hasn't got a clue about customer service.

And my advice is, if you are likely to want to use their services, then best give it a good couple of weeks to allow for sign-up delays, before you need to send that money.

First time user - never again

Tried Transferwise to avoid ANZ's international transaction fee of $12 for a small amount of Euro to Germany.
Hadn't used the service before so relied on the call centre guy to talk me through it.
He said I had to send in AUD... in other words, work out how much 30 Euro is in AUD and send that amount. (Straight up I thought that was odd... I have done international transactions before on other platforms and have always done it in the recipient's currency)
So I worked out what the conversion was and entered the correct amount in AUD.
The receipt comes through and turns out the amount was short -- because Transferwise deducts their fee before sending your money.
I called Transferwise as soon as I realised the error and they said "sorry there's nothing we can do" as the difference between what I was meant to pay and what I ACTUALLY paid was below their minimum transaction amount (??!!)
I called ANZ (where the funds came from) and there was nothing they could do immediately - I have to wait 10 days for them to "launch an investigation" for pete's sake.
Meanwhile I am left in no man's land because of sheer incompetency and lack of accountability on the part of Transferwise.
Never again.

Horrible ending!

I have been with Transferwise for several years now.
2 weeks ago, they suspended my account due to some compliance related matter.
They requested a large list of explanation for recent transactions (which has been happening for months!) and bank statements for the accounts I used.
Then silent.
I called them over 10 times to ask for an update and they said they were looking into things.
During the last phone call, I pressured them and said that I needed this done within 24 hours as they were freezing my funds in their accounts as well.
5 minutes after that phone conversation, I got an email saying that my account has been closed and due to apparently "regulatory" reasons, they cannot disclose why they have come to this decision.
I honestly think they were just lazy to verify everything I said and decided it was more cost effective to simply let me go!
This is the actual wording of it...

Dear Kiran,

Unfortunately having reviewed your account, in line with the terms of use accepted by yourself, we have decided to close your account. We are unable to provide any further information on this due to regulatory restrictions.

Account deactivation can occur for a number of reasons, including but not limited to security concerns, detection or possibility of duplicate accounts, or transactions not being within our risk appetite as a strictly regulated financial institution.

Your recent transfers with us were resumed and will be sent out shortly.

I am sorry that we cannot be of more assistance to you, or offer you our services in future.

Kind regards,

Great rates and support

I've been so impressed with the Transferwise borderless account. Great rates and very good support when you have a question or don't understand something. I have no hesitation recommending them

My money was stolen by Transferwise.

I've transferred money through Transferwise but they didn't deliver it to the recipient. I asked them for refund and they said, there's no guarantee to refund your money!!!
Do not trust them!!!

Best rates but not a financial institution

Fast and rates are good (mid range)
Also accurate and what they state actually goes into account. This is for Aus to Thailand bank account transactions. No fees at Thai end.
However, you are trusting the owner of an app to move money from their account in Thailand to yours. Why no fees because money goes into their account in Australia and then they just transfer money out of their bank account in Thailand. Why it is so quick.
So I am not sure if they will honour or chase a mistake. This is not like a company you can chase in Australian if something goes wrong.
Tip. I transferred a small amount first to ensure I got the bank numbers correct as this is now registered in the app and I wanted to make sure it works. I will now increase this and hope nothing goes wrong.


I was in need to get proof as an account holder with TRANSFERWISE - contacted their customer service and got was I needed in less then 24 hours.
Thanks Syakirah for your prompt action.

Shit company

No one answers the call . I have been trying to reach them but this company is fake and they don’t have any customer care people to help . For last 2 hours they don’t pick up and cute the line . It’s a scam


Brilliant service, my money was moved fast and delivered safety. Good alternative to the banks and their high extortionate fees. I used a friends invite and got my first £500 for free. Please use my link below to your first £500 transfer for free too.

Easy Cheap Flawless

Cannot fault their service. Have done 3 international transfers already and they arrived within 24-36h. I did one by “card” it arrived within an hour, 2 were bank transfers and took “longer” 24-36h.
All were made from France to Australia.

Cheap and convenient. Bye Bye Bank fees !

You can easily loose your money!

If you make such an easy to do mistake as you enter your receiving bank account even just one digit wrong, your money will be gone! I was looking for a quick way to transfer a considerable amount of money (9000€ is considerable to me) from my bank account in Sweden to my bank account in Vietnam. Decided, most unfortunately, to try TransferWise. I was tired and in bad light I entered one digit wrong in my bank account. When I discovered it later I was sure the money would just bounce back. But no. Apparently TransferWise doesn't make such a simple check as matching the customer name and bank account. So all I got from them is that they said the receiving bank accepted the money and the account holder has withdrawn the money. Somebody got lucky.
No responsibility from TransferWise. I believe a financial operator shouldn't be allowed to be on the market if they don't provide such a basic security to their customers! Extremely bad!

Awful user experience - product doesn't work, charged unfair fees, customer service does nothing

With TransferWise I had one of the worst user experiences I have ever had with any product, and that's saying something.

My review relates to the Multi-currency MasterCard. I was charged in the wrong currency, and charged fees for this - and customer service treated me like an idiot rather than trying to understand what was not working with the product. The transaction was via PayPal - which I had used before, and it had worked a few times - and on the PayPal side I was charged in USD, however TransferWise then charged my EUR account in GBP (thus collecting extra fees not once but twice). I contacted customer service; the first response was "the integration with PayPal does not always work, this is a known bug, you should have been aware of this"; the second response was "PayPal charged you in GBP" - I have a receipt from PayPal where they charged me in USD - and so the third response was "maybe you made a mistake on the PayPal site and did not select the transaction currency as USD" (I am not an idiot, I have done this before, and this was not the case).

I am extremely disappointed and frustrated with my experience and can only recommend that you stay away from this product until they either fix it or improve their customer service.

No problems so far

I have used TransferWise for about 10 times now and so far the service has been excellent. No issues whatsoever.
The transfer went through in time and all of them (except for one) within 4-6 hours.

Although they say that delivery will be in 36 mins, that has never happened.
Otherwise all good.

Best Rates and very quick

They have the best rates to India compared to other money transfer services. Very quick. ID Verification finished instantly. First i initiated a wrong transfer, but then they refunded the money quickly.

Just rubbish, i got robbed of $150 because of the bast****

Just rubbish, i got robbed of $150 because of these bast****. Tried to take the dispute further and heard nothing back from them.

Used it twice and perfect so far

Based on the reviews here, Telling you that Transferwise is great would be an early celebration. However, I have transferred 2 small amounts from AUD to UGX and so far perfect.
Time will tell

Ask for a bank statement that doesn't exist

They accepted my money for a transfer to NZ, then asked for a bank statement with my name on it. Well hello, disruptive internet startup, the banks don't issue statements any more, that's soo last century. Then they say go into a branch for a statement. Double hello, ING bank doesn't have branches. Call centre is clueless and unhelpful. Now I wait for the money to come back, and I have to promise the company in NZ that I will pay.

Fee hikes frequently, recent fee rises was 19.99%


TransferWise keeps raising fee for AUD to other currency, in the name of "fairness". I now reduce my rating to 1 star. Originally I wanted to keep them at 3 star, but they never published my comment in their article about rising fee, even though they claimed to be a transparent company.

Below is my comment on their article: https://transferwise.com/gb/blog/pricing-update-feb-19

Sorry, I don' buy into your "fairer" pricing. I've been using your services for years and didn't bother to research other services but thanks to this cost "fairer" change, I've just did a Google Search for "alternatives to TransferWise" and would happily stop using your services.

Your fee for my frequent transfers boosts up 19.99%, which is ridiculously "fair" to me. I will now be using other services which is less than half your cost for the same amount of money. Goodbye!

I encourage everyone to do a quick Google research, you'll be surprised in a very good way.
Original review

I have been using TransferWise for more than a year, for both my personal and business oversea transfer. They have been really fast and reliable to me, also the guaranteed rate was always applied given that I always transferred my AUD to them immediately. They have always been way cheaper comparing to my bank, CommonWealth, in both exchange rate and transfer fee.

I can only say for myself, with my own experience.

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Questions & Answers

I have in my hand a cashiers check for $2500 USD. Can you help me convert to Aussie dollars and give me a better rate than the Australian banks?
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