Offshore Company Formation and Management Services
Turner Little - Company Formation Agents & Banking Intermediaries.Chat to a member of our sales team.
Mentor Group

TransferWise holds money since early January 2019

lonizzita

New member
Hello. I had two transferwise business accounts deactivated for 4 months more than 400k. When the case arrived at the ombudsman transferwise refunded the money and informed ombudsman that the case closed. But the reference from transferwise return of capital might case problem to the account you send for refund. So if the bank sees return of funds they might close the acccount also or not accept the refund from transferwise.

what Ombudsman? of what country? please write site
thanks
 

Osleak

Active Member
OP never got back here it seems to let us know if he got his money after all or not. I can't believe that they will keep the money TW is after all a large company and I believe they will release the money after some time.

The problem is if no one will take the time to get back here and report if they got the money so we will never figure this out.
Exactly Transferwise will send all money to source probably, i’ve same experience with revolut and worldfirst after 40days i’ve got money back.... but i’ve made for both complaint with ombudsman...
 

Admin

Forum Moderator
Staff member
what Ombudsman? of what country? please write site
thanks
I would like to know that too. "ombudsman" sounds Swedish but I believe it's not what is meant?
 

zeytin

New member
Ombudsman means negotiator between two parties (you and me, you and a company etc). They handle disputes and tries to make you negotiate in order to reduce stress on the Judiciary system (Courts). At least that's what they do in Turkey.
 

protonos

New member
OP never got back here it seems to let us know if he got his money after all or not. I can't believe that they will keep the money TW is after all a large company and I believe they will release the money after some time.

The problem is if no one will take the time to get back here and report if they got the money so we will never figure this out.
OP said he got his money back.

Aug 28, 2019
Hello Guys,
We received refund from TW. It took more than 60 days.
 

Admin

Forum Moderator
Staff member

protonos

New member
Fine, but waiting 60 days for YOUR money cannot be fun. I guess it is the price you pay for being the small guy. Best advice I have seen is use these payments as a stepping stone and get to a real bank a.s.a.p. We have been caught in twice now (i-Account and now ePayments). Thing is they worked perfectly, until they didn't hi%#
 

iloveyouguys

BANNED MEMBER
I had the same problem, but fortunately with less money (3000 euros). I started to work online, after my friend's advice who suggested james-scholes.com. I followed all the steps that were mentioned there and being very good at it I started to earn money very quickly. My mom was living abroad and for sending to her money I used TransferWise. They also emailed me a lot, I answered all the emails, and after I never heard from them again.
Interesting link building strategy
 

tramac

New member
good day, i have the same problem now with a account of my company (founded 1987), transferwise has closed our account and we have 250`000k on it. support is not even giving an clear answer and now we have get an email that we have to wait up to 60 business days. we have hired a lawyer now and also informed fca and ombudsman service. thats crazy and i have never seen such a "service"
 

djaheim

Silver Member
good day, i have the same problem now with a account of my company (founded 1987), transferwise has closed our account and we have 250`000k on it. support is not even giving an clear answer and now we have get an email that we have to wait up to 60 business days. we have hired a lawyer now and also informed fca and ombudsman service. thats crazy and i have never seen such a "service"
Its an ongoing crack down, freezing the account in a sure way to coerce you to give them the info they want or they will simply close the account and give your money back to you and wherever you will go first thing they will ask is for this information all over again to get that account.
 

tramac

New member
they have not even asked for more infos! we have now reported the case to FCA and Ombudsman Service.
 
if you received a payment where the sender later asked for a chargeback, boom, its a flag at your account.

if they connect your account to crypto (even though tw, i very tolerant with crypto) and this crypto you are sending/receiving to/from is connected to something else that is deemed "subious" , boom its a flag

you may have had your account frozen for several different reasons.
 

Timo

New member
Same problem

Today they deactivate my privat account with 800 EUR in

No Info / No Mail

Now i upload Selfie IDs and Explain

I have getting Money 80 EUR and 39 EUR of Bet3000 = IBA Entertainment Ltd. and i think this was the Problem
 

Timo

New member
After 1 week:

After 1 Week:

07/04/2020, 10:47 CEST
Hello Mr. xxxxx

we wanted to let you know that we have received the documents. We only need a little time to review your appeal, then we will contact you.

Friendly greetings,
xxxxxx
TransferWise


 

reesek

EU IBANs for everyone!
Silver Member
they have not even asked for more infos! we have now reported the case to FCA and Ombudsman Service.
Could you publish a draft of what your lawyer sent to regulators? Might help other member to just amend that to his name
 

rowena

Active Member
TransferWise is not for high/medium risk business or crypto/gamble transactions. You will lose your money or your time.

If your business transparent and clear they wouldn't ask anything even you have 7 figures turnover.
 
Mentor Group
Mentor Group
Top