I’ve had all kinds of little annoying issues with Wise that cause me to be trapped in circles, but nothing this serious. Support is truly the thing that separates the wheat from the chaff. Everything is hunky-dory when it works, and the moment there’s a problem, you’re suddenly stuck in the Barbican at 3am with no signs, no lights and nobody to talk to.
Wise refuses to let us access our $60k AUD
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Re: Wise refuses to let us access our $60k AUD
#12Don't worry too much, luckily you've reached #1 on HN so they'll fix it for you within a day.
Re: Wise refuses to let us access our $60k AUD
#13This is also a common experience in retail banking (not only wise) in the UK.
I put the blame on excessive regulation. Businesses are scared of crossing the regulator for fear of revocation of licence or high fines. Also the regulations themselves impose lengthy delay requirements on doing business.
What I've also found is the large incumbents largely skirt the regulations (HSBC for instance let's payments through whilst revolut spent weeks investigating them). Revolut spends the money, which they don't have, whilst HSBC knows they can pay any fine required. Regulation working precisely as designed.
Re: Wise refuses to let us access our $60k AUD
#14[flagged]
What?
Re: Wise refuses to let us access our $60k AUD
#15Earlier quoted context omitted.
Good news, actual banks in many countries also do the same thing.
It's easier to get justice from a local bank in your country, or to at least talk to a real person face to face than from PayPal Luxemburg or wherever they're located.
I doubt. It seems that payment providers have god-like rights from the government and don’t feel stressed by a few lawsuits here and there.
I had a business account at a larger/largest Dutch bank, and have got the middle finger treatment all the way. From impossible to resolve typo in my company name (made by the bank), entirely wrong UBOs name on the payment card to the eventual account freeze for 4years while KYC was looking into this. Fun times
Re: Wise refuses to let us access our $60k AUD
#16What's the alternative?
Re: Wise refuses to let us access our $60k AUD
#17This is a familiar situation. I run a SaaS platform where I sell plugins for WordPress. Recently, my PayPal account was suspended, and a balance of €80,000 was frozen. The stated reason is a violation of the Terms of Service. However, no specific explanation has been provided — neither what rule I allegedly violated, nor how I violated it. I’ve searched through the lengthy documentation, but without clear guidance, t…
Hope you're considering a lawsuit? €80k is no joke.
Re: Wise refuses to let us access our $60k AUD
#18This is a familiar situation. I run a SaaS platform where I sell plugins for WordPress. Recently, my PayPal account was suspended, and a balance of €80,000 was frozen. The stated reason is a violation of the Terms of Service. However, no specific explanation has been provided — neither what rule I allegedly violated, nor how I violated it. I’ve searched through the lengthy documentation, but without clear guidance, t…
Quite some years ago I sold a Wordpress plugin at a marketplace called Binpress. They paid to my business Paypal account. It had a $3500 balance and I didn't log in to Paypal for a while. After 2 years I tried to recover my account. It was blocked and there was no way for me to get access. I tried every possible way.
That sounds like a small claims court case, if not suing PayPal for outright theft.
I'm not a lawyer, but theft under pretenses of "protecting your account" (from being accessed by you, that is) is still theft.
Re: Wise refuses to let us access our $60k AUD
#19I haven't been locked out (yet?). However, my account situation with Wise is similar i.e. I'm Australian and have been a customer since they were known as TransferWise. My documentation for UBOs is currently under review right now.
Hopefully I don't get locked out as well!
EDIT: Oh, I actually know who you are, Paris. I don't really have any industry connections these days, but I remember you from various conferences back when I was doing iOS development, maybe 2011-2015. "Hey, Wise! I can vouch for this guy!" Haha, doubt that's gonna hold up.
Re: Wise refuses to let us access our $60k AUD
#20Very happy wise customer, i have had to go through KYC and other verifications from time to time. I happens with nearly all banks as services