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Question How to get my money back from Wise.com

Ridden3328

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Jun 28, 2022
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Hello, my wise.com account is closed and made an appeal for get back my money then I got message about We will response in 10 business day but it's been already 16 business day. I sent a few support ticket to them about situation but they suddenly stopped to reply my support tickets after account closure.

Have i been scammed? Does anybody experienced something like this?
 
It's very common for financial institutions to request information about accounts and transactions. It's rare for them to close an account, though. That's usually a bad sign.

You can try to apply pressure by bringing in lawyers and going after the regulator. But that will probably not go anywhere. There are different regulations and guidance notes but in general, financial institutions have no meaningful time limits that they must comply with if an account is closed due to suspicion of money laundering or other financial crime. Innocent clients sometimes get wrongly affected by this.

Most likely, they have identified something suspicious about your account and are currently researching it (you're in a queue of other suspicious accounts and each one takes time to investigate). The most common cause for this is that the account holder has done something that is against the financial institution's terms and conditions.

Your account will probably be permanently closed and in a matter of days or weeks, they will tell you to wire the money out. It's unlikely they will let you keep the account, if it has been this long already. If it takes more than a few days, the case has been escalated to more senior staff and if it goes that far, they almost never decide to keep an account open.

If you don't already have a backup account, start opening several accounts now so you're ready.
 
It's very common for financial institutions to request information about accounts and transactions. It's rare for them to close an account, though. That's usually a bad sign.

You can try to apply pressure by bringing in lawyers and going after the regulator. But that will probably not go anywhere. There are different regulations and guidance notes but in general, financial institutions have no meaningful time limits that they must comply with if an account is closed due to suspicion of money laundering or other financial crime. Innocent clients sometimes get wrongly affected by this.

Most likely, they have identified something suspicious about your account and are currently researching it (you're in a queue of other suspicious accounts and each one takes time to investigate). The most common cause for this is that the account holder has done something that is against the financial institution's terms and conditions.

Your account will probably be permanently closed and in a matter of days or weeks, they will tell you to wire the money out. It's unlikely they will let you keep the account, if it has been this long already. If it takes more than a few days, the case has been escalated to more senior staff and if it goes that far, they almost never decide to keep an account open.

If you don't already have a backup account, start opening several accounts now so you're ready.
The closure reason should be about crypto (yes i should've read their rules but also haven't receive any warning) and I understand their closure or not reopening it's okay for me but I want to get my money back. My money was in Turkish lira because i was withdrawing my money before closure.

Now the problem is I'm forced to keep my money in Turkish lira and this means I losing my money because of Turkish lira is very volatile and has very high inflation (like 175% yearly).

I applied to UK Financial Ombudsman Service and Turkish consumer arbitration committee.
 
The closure reason should be about crypto (yes i should've read their rules but also haven't receive any warning) and I understand their closure or not reopening it's okay for me but I want to get my money back.
here we go again - another one involved in crypto who didn't read "don't touch crypto" warning :)
just push them a little bit, stay polite, mail them frequently and I'm pretty sure you'll get your money back eventually - good opportunity to realize it's not your money when it comes to banks and EMIs....
 
The closure reason should be about crypto (yes i should've read their rules but also haven't receive any warning)
Big surprise. Another thread about an account being closed with a financial institution, and it turns out to be due to the account holder blatantly violating the terms and conditions.

and I understand their closure or not reopening it's okay for me but I want to get my money back. My money was in Turkish lira because i was withdrawing my money before closure.

Now the problem is I'm forced to keep my money in Turkish lira and this means I losing my money because of Turkish lira is very volatile and has very high inflation (like 175% yearly).
You will get your money out eventually. Similar cases seem to take a couple of weeks to resolve. Be persistent and reasonable. Ask for updates at reasonable intervals. Don't spam them.

Involving regulators will probably not yield anything at this point. Wise are still well within a reasonable time frame for investigation of a suspicious activity or breach of terms and conditions.
 
Whatever he did, no bank/emi has the right to keep his money. They are not the police.
Now, let’s take, for example, the interbank rate… 15 days or more “frozen” funds… multiply per thousands of clients… oh, someone is making money out of this freezing nonsense!

You'll find a lot of useful info in a group on FB "Wise scam victims"
Nice group, full of horror stories
I was also closed but recovered money in ~ 15 days. Appeal, ombudsman, back and forth emails. That's all in your power. Have patience and stay kind in your conversations.
15 days is very quick! There are people who waited for months :mad:

Fortunately sooner or later Wise will be dead:
DC089BE4-16C3-4030-8ED3-D4088D854693.jpeg
 
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Whatever he did, no bank/emi has the right to keep his money. They are not the police.
They do that under the impression of "due diligence" and an ordinary account holder is kept in dark until their "scheduled payment" for the poor account holder hits the date. Not everyone gets his money back. But most do. I know a guy who lost Euro 363K (WISE said we can't refund you).
 
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They do that under the impression of "due diligence" and an ordinary account holder is kept in dark until their "scheduled payment" for the poor account holder hits the date.
The excuse that they cannot disclose the reasons for their actions is total BS. Nothing prevents them from doing so, it is just their own decision to keep account holders in the dark.
Not everyone gets his money back. But most do. I know a guy who lost Euro 363K (WISE said we can't refund you).
For sure that money doesn’t stay in some sort of banking limbo and ends up in someone’s pockets. We are talking of millions literally stolen from account holders.
 
Hello, my wise.com account is closed and made an appeal for get back my money then I got message about We will response in 10 business day but it's been already 16 business day. I sent a few support ticket to them about situation but they suddenly stopped to reply my support tickets after account closure.

Have i been scammed? Does anybody experienced something like this?
I don't think you will get scammed by Wise. You may have had an activity not allowed by them or send money to some that require additional investigation.
 
here we go again - another one involved in crypto who didn't read "don't touch crypto" warning :)
just push them a little bit, stay polite, mail them frequently and I'm pretty sure you'll get your money back eventually - good opportunity to realize it's not your money when it comes to banks and EMIs....
Big surprise. Another thread about an account being closed with a financial institution, and it turns out to be due to the account holder blatantly violating the terms and conditions.


You will get your money out eventually. Similar cases seem to take a couple of weeks to resolve. Be persistent and reasonable. Ask for updates at reasonable intervals. Don't spam them.

Involving regulators will probably not yield anything at this point. Wise are still well within a reasonable time frame for investigation of a suspicious activity or breach of terms and conditions.

They don't reply my support tickets.

How were you using it with crypto? Have you or someone else specified something related to crypto in a note? Or have you been doing tons of transactions?
there was crypto related in note, a few transaction per day, in total $2500~ transaction volume
 
They don't reply my support tickets.
Typical scammer’s behavior.
It doesn’t matter if they eventually give you back your money, if someone takes your property for even just one day without justification is a scammer (or if you prefer, commits embezzlement or misappropriation if not fraud).
there was crypto related in note, a few transaction per day, in total $2500~ transaction volume
That might well be the reason, but freezing accounts without warnings and without explanations is fraudulent behavior.
 

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