- Verified customer
Awful customer service by Transferwise rep
Customer service is deflective and argumentative at best. I experienced technical issues updating my bank account details, was advised by their agent to send an email. Repeatedly I raised my concern of losing my guaranteed rate, but not once did their agent said there is a possibility it wouldn't be handled in time. In good faith, I sent them an email immediately, however a few hours later my funds were refunded quoting I have not provided them the new details. As a result, I lost my guaranteed rate which meant I lost almost $1k. This is a sign...ificant amount for a family with below average income, not to mention this transfer was super important as it was for a surgery. I raised my complains with their support team, after back & forth communication they did not take my complains on board, basically shifting blame onto me, quoting there could be "Any number of reasons could explain why the email's self-service link might not have operated as intended". I finally gave up and said I'll take it as a lesson learned, and I kid you not [name removed] (their rep) said "As you stated in your message, kindly take this is a lesson learned since next time you likely won't encounter the same issue." Appalled by their lack of customer service. It's no wonder their ratings are so low on here. If you do transfers on transferwise and experience no issues, good; because if you experience any sort of issue, mark my words, they will not help you. In fact, you will receive a sarcastic email berating you if your issue is handled by [name removed].
Originally good. Now fraudulent with false advertising.
I transferred money using their "guaranteed rate" which was a fair rate and offered me 48 hours to make the payment. They then cancelled the payment because the rate had changed. While a reasonable business practice, you can't do that if you guarantee something. Nor can you advertise something as guaranteed if it is not guaranteed.
This ended up costing me $500, and I will likely report this to ACCC (if that's the right place to report false advertising and fraud - happy to hear advice in this regard).
- Verified customer
Fast, easy and cheap.
Used TransferWise last month and transferred money from Australia to New Zealand. Usually am charged hefty fees when I use my bank so decided to use TransferWise instead. My recipient received the funds the next day in his New Zealand bank account, and I wasn’t charged any additional fees! The give you a guaranteed rate before you make the transfer which was extremely helpful. Loved using this app.
Very bad experience
Very bad experience. Transfer a $1000 to IDR Deposited into my account. The receipt said the funds will be in the account tomorrow at 5. Never happened. Then I have to prove that they are my funds. Numerous emails to customer service. That was 7 days ago. Check my account and the funds started moving. Will be deposited in 4 days. Check again today. 7 days. WTH I would never recommend this Service #transferwise to anybody
Worryingly Bad Company
They’ve taken money from my account multiple times without my consent, which I’m pretty sure they shouldn’t be able to do. This has happened a couple of times now. I was willing to accept the mistake the first time but this time they took one transaction out 4 times so I’m left out of pocket. Bottom line is they shouldn’t even be able to do that, which is why I would not recommend them to anyone. I’d give no stars if it were possible.
Mixed bag. Lacks customer support
First time as a new customer all worked as advertised and money was transferred quickly. The second time, verification documents were again requested (why?) and subsequently refused: "ID must be legible and complete." Which it was! I received no reply to my email and no reaction on a filled in customer form. Money was refunded with no further explanation. I cancelled my account, if you go to website Compare top 10 money transfer services you will find better companies.
- Verified customer
Stole my money
On Jan 29, 2020, i used the company transferwise LTD which is a business that is registered in Canada as a money service business and asked them to transfer $4382 Canadian dollars from my account, convert this amount into South Africa currency (ZAR) and deposit this amount in my family members account in South Africa. I gave them all the appropriate banking information and account number of the recipient account. They guaranteed a delivery date of the funds of Jan 31, 2020. To this date (Feb 24, 2020) my recipient has still not received the fun...ds and they are refusing to refund me the money. I have been frequently calling transferwise, messaging their company on Facebook and emailing and they have not been able to provide me with any concrete answers as to where the money is. There answers are constantly changing and at one point they are stating the money has not been sent, and at another point they are saying the money is still being held by their partner bank account in South Africa. They at one point stated they would refund me the money if I showed a bank statement from the receipts bank account which was provided to them but they are refusing to provide me a refund nor give me any idea on when I will receive this money.
Not being a mainstream bank, I used Transferwise cautiously to start with, spreading my transfers over a number of transactions. I never had the slightest problem - every transaction was handled swiftly and seamlessly. The process was very easy to use and I was kept well-informed of the transfer progress throughout. My son, who recommended Transferwise to me, has also used the service with complete ease and total satisfaction.
Admittedly I have long-standing UK and Australian bank accounts, so I imagine the transactions in my case were uncom...
Terrible experience. There should be NO STAR for TransferWise
The customer service is horrible. I made a large amount transfer with TransferWise, after reading up what documents I need to be ready for in case they reach out for information on the source of fund. I received a notification that TransferWise has received my money and I approved on the exchange rate. No follow up from TransferWise to obtain more information. After waiting for 2 days, I called customer service to follow up and they told me that TransferWise has received my fund but they are holding it up for more checks. Sure, I understand Tra...nsferWise is a REGULATED FINANCIAL INSTITUTION (this was repeated millions times during my call) and I'm ready to provide all the documents they needed to support my source of fund. Yet, they couldn't tell me exactly what documents I need, nor they could let me to speak/ email to the relevant department to understand what documents they need from me. They couldn't even provide me the timeframe when I would expect them to clear my fund. Huge disappointment and I will not recommend it to anyone who need to do a large transfer.
Very Bad Experience: Account Rejected - No Reason Provided - Horrible Communication
I registered for an account with Transferwise and provided them with all the details they have required. They came back to me and asked for further details on my business operation. I provided them with the details they required and a full view of my business operation and products offered. The product we offer are in complete adherence to regulation bodies in AU and are listed on the largest e-commerce site in Australia which contentiously monitors every single product we list to ensure its okay to sell without a license.
Therefore, everythi...ng I have provided is by the books and yet Transferwise replied back to my long, detailed email with a short paragraph that simply stated "We’re getting in touch to let you know that unfortunately we can’t offer our services to you" without any explanation as to why that is the case. A complete waste of time. These guys wont bother to even communicate with their customers. A negative experience in my book. I do not recommend using Transferwise
Huge disappointment with rates
I have used this service many times as living overseas and moving money across. Never had any issues up until the last transfer. When I set my transfer on February 1st, I received the notice that the money has to hit their account no later than February 5 to get the guaranteed rate. Since there was a weekend, I did the transfer on February 4 and received confirmation from transferwise that they received the money on 5 February. However, when they transferred money to me, they did not used the guaranteed rate but used the mid market rate. When I...queried this with the company, I was first told that they guarantee rate for 48 hours. Then I sent them screenshot saying 96 hours and then I was told that if it is a minute late, you don’t get the rate. However, no one tells you the time. Notification only said the money had to be in their account by 5 February. Especially when you cannot affect the time yourself. I believe this is just wrong and trying to find an excuse.
So far zero problems
I've used transferwise on many occasions now to send money from Australia to friends and family in New Zealand, Great Britain, United Arab Emirates and Philippines. Money always arrives in excellent time and the fees are very cheap and the whole process is upfront and transparent. I'm looking forward to using their debit card/ FX account on an upcoming overseas trip, hopefully it will save me from the rip off fees that my bank normally charges.
- Verified customer
I use it as main account
I used it only for money transfers the last 3 years but now I decided to use it as my everyday account. Best exchange rate and transfers sometimes immediate to other country. I have 13 bank accounts, the latest are Monese, N26, Starling. But I have issues with them suspending account for weeks and asking for further documents and than nothing. That's crazy.
I even sent 30000 to Spain and had no issues with TransferWise. I wouldn't trust any other money exchange company to send this much.
To send money free up to 500 use my code:
The worst system that I ever use
I wish I can give a zero star for this. Their customer services is very bad , disappointed and disgraceful. Seems better rates but high charges causes the money received is lesser compare to other transfer company. Many system issues and bugs. My sister and I create 2 accounts using different username , different sender and different receiver. But they keep mention we are the same person and deactivate both our accounts. Explained many times to them but they reject. I will not use their transfer services ever again.
- Verified customer
I searched google to find out about TransferWise service. Initially, skeptic to use it though, but it turned out to be a good choice for a travel card. I like the beauty of the mobile app, super easy and the exchange rates are fantastic too. 10 Stars to them.
Fast and easy
Transfer Wise has made foreign transactions super fast and easy. I’ve used money transfer services before, but this one, with pictures showing what is happening and the immediate connection to your overseas account makes it so easy. Repeating a transfer has become just a click away. E.g. a transfer just now from my bank account in Europe to Australia was on my account in 20 seconds!
Absolute incompetence, ineptitude bordering criminality - ZERO stars!!!
Sent, for a second time US$1,000 from Australia to my sister in Lime Peru. Funds are to pay for a full-time carer which is needed for our 89 year old mother.
Made the transfer on 4th December. Advised the money would reach my sister's account on the 9th December.
On the 10th December I got a message asking to provide who was the recipient, what was the money for and also personal details of my partner, such as full name, address and date of birth; simply because the money was sent "from 'me' and 'my partner'".
Disgusted at such intrusion into o...
- ‹ Prev
- Next ›
Questions & Answers
Someone in Western Australia wants to buy our boat & have it sent to them from NSW. He has a little problem with the courier agent, they said they can only schedule the pick up when they receive their money for the pick up via transferwise money transfer. They charged $1850 for the pick up and delivery. Apparently they only accept transferwise as a form of payment which is to be sent to their Headquarters. Is that doable transferring the money from us to the courier? The purchaser will add the cost to the boat payment. Just checking that its not a scam!
Total scam. Let me guess...you're selling it on Gumtree? There's a similar scam with PayPal. Don't pay anything - You'll likely never see that money again.
Strange. Transferwise is just what the name says: a transfer agency. Why would someone insist on a specific transfer agency? It is irrelevant, as the money will arrive in a bank account, transferwise is just an itermediary. Would make me very careful.
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?
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.