TransferWise holds money since early January 2019

So I cannot do anything and hope for them to refund me after 60 days. After the 60 days period has passed the onbudsman can consider my complaint right?
 

dmitrip

New Member
Hello. Transferwise has been holding over 8000EUR since June 19, 2019. In response to an official complaint, they proposed I turn to the Financial Ombudsman Service
 

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Elve

Building Trust
Entrepreneur
In my case, the 60 business days have passed and unfortunately nothing changes. Always the same answer that we must wait for the due diligence shit to end.

I made a complaint with the Financial Ombudsman Service, but I don't really know if that would help anything. All those in the same case should report and disseminate Transferwise practices on social networks.
 

djaheim

Active Member
In my case, the 60 business days have passed and unfortunately nothing changes. Always the same answer that we must wait for the due diligence shit to end.

I made a complaint with the Financial Ombudsman Service, but I don't really know if that would help anything. All those in the same case should report and disseminate Transferwise practices on social networks.
Onbudsman as i said earlier will only tell you to wait for the transferwise to conclude what they are doing. once thats done then onbudsman could step inn if still there is a dispute
 

profitbbb

Active Member
I have same issue in last month, there is nothing to do. I will wait and bug them after 60 working days. I am sure that they are not checking anything. They told me they can't speed up 60 working days, it is regulator audit. When I said them I am also working with epayments they told me it should be internal audit, the regulator FCA doesn't have this kind of process. TW wrote me it is internal procedure, we can't control it. WTF!!!!
 

dmitrip

New Member
Hi Hera. Did TW send a notice before refunding the money? Like we finished the DD and will refund on such and such date?
 

Hera

New Member
Hello,
TW requested to us a bank account of the company,; we provided the bank account then we wait. After we sent e-mails to TW for update. TW refused the provided bank account, so we provided another bank account. We sent e-mails each week. Last week, in response to our last e-mail, TW said they are in refunding process and finaly we received refund in the first bank account rejected by TW. By the way, rejected bank account was the bank account used to top-up our bordeless account. So I don't believe about diligence check....maybe TW hold money a long time to make sure there is not claims linked to fund.
 

Elve

Building Trust
Entrepreneur
Hello Guys,
We received refund from TW. It took more than 60 days.
That news gives some hope. How long did you have to wait exactly to be reimbursed after your account deactivation?
 

Hera

New Member
More than 5 months (161 days). I assumed it spent time because we waited before requesting confirmation that sent documents were good. Once document has been confirmed and we sent each week an e-mail, process speed up (~1 month).
 

Osleak

Building Trust
Entrepreneur
Thank you for your reply. About Transferwise, we have to contact Financial Conduct Authority (UK) or the similar in Lithuania?
I’ve same problem with revolut, they locked my account from more than 20 days you should ask to transferwise how can you send them formal complaint to ask the to unlock your funds, they have 15 to 35 days for law to reply to your formal complaint, at the same time you should do complaint by ombudsman uk online form they are uk licensed
 

Osleak

Building Trust
Entrepreneur
Do you think the onbudsman can speed up the whole process? Waiting for 60 business days will be a catastrophe for our company.
You must do formal complaint to TW or similar, usually they have up to 35 days to respond to your formal company, at the same time you must fill ombudsman complaint online form... and let s hope
 

Elve

Building Trust
Entrepreneur
After 17 weeks, I was finally reimbursed today by transferwise. But that removes nothing but their practice is unacceptable.
 

neweraoffshore

IT Nerd Offshore Guy
Entrepreneur
Mentor Group
I have a few questions to the people with TW problems:
1. Are you having the company with the TW account in your name? Or is it a leaked Nominee name? Or even a dark?
2. Is your business registered in a non leaked address with substance or a common leaked address or maybe even just at the registered agent address?
3.Do you consider the transactions as 100% legal or may there be "some doubts" ?


Maybe you want to check your nominee, register agent adresses etc. here : ICIJ Offshore Leaks Database . If you can find your nominee or adress on the list, then you have your answer. Even if you don't find something on the list chances are high that, in case you used a nominee or address with unnormally high registered companies, some third-party fraud prevention companies found it and gave TW a more actual list. It's their job to locate stuff like this.
If TW has the slightest assumption that one of these 3 questions is answered negatively they of course try to block your account. Every non paid out € is like profit or at least free money to work with until proven wrong ;) . I guess the AML laws are on their site.
 

alexundu

Member
I have a few questions to the people with TW problems:
1. Are you having the company with the TW account in your name? Or is it a leaked Nominee name? Or even a dark?
2. Is your business registered in a non leaked address with substance or a common leaked address or maybe even just at the registered agent address?
3.Do you consider the transactions as 100% legal or may there be "some doubts" ?


Maybe you want to check your nominee, register agent adresses etc. here : ICIJ Offshore Leaks Database . If you can find your nominee or adress on the list, then you have your answer. Even if you don't find something on the list chances are high that, in case you used a nominee or address with unnormally high registered companies, some third-party fraud prevention companies found it and gave TW a more actual list. It's their job to locate stuff like this.
If TW has the slightest assumption that one of these 3 questions is answered negatively they of course try to block your account. Every non paid out € is like profit or at least free money to work with until proven wrong ;) . I guess the AML laws are on their site.
1)real name (mine)
2)non leaked
3)legal 100%

still tw blocked business and personal
 

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