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TransferWise changes name to Wise

wise.com

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Re: TransferWise changes name to Wise

#101

Post by wildfire »

esperent wrote: post #97
emp_ wrote: post #91

Great Timing! USERS BEWARE, my story I used the service for two years and just had the most surreal disastrous experience since the year flipped. I religiously send a the same (about 5k USD) to my home country every month so I can pay my mortgage and other bills I left when moved to NA. 2021 arrives, I start a transfer on January 27, days pass, nothing. I contact support 10 days later (of something that in the past 2…

Unfortunately I have come to believe there is no banking service that won't do things like this at some point. For example, I used to swear by N26 until I had a small issue (involving some tiny amount <€50). I told support very politely that I wasn't happy. Their response was full nuclear "pay everything immediately or we're sending your details to a collection agency". I was amazed, I had been a loyal customer for y…

This. I also used N26.

There support used to be bad, now it is atroscious.

The details of my situation are not important, however I was in contact with Christian Krabus - Head of Customer Care (https://www.linkedin.com/in/christian-krabus-075a7887/ who it appears no longer works for N26).

I would regular have to ask for status updates; email the managing directors and only then would things get progressed.

My issue stemmed from May 2019 right until Mar 2020; when he stopped responding (and according to linkedin, left the firm).

Basically, every support interaction required multiple pulling of teeth. That should not be how a bank interacts with you, especially when they have your money.

I now use another bank in Berlin, just a normal one, and the interactions are about average ( I ask a question; they take a week to get back to me -- but they *tell* me it will take a week).

Re: TransferWise changes name to Wise

#102

Post by refurb »

colincooke wrote: post #12

I love transferwise, depend on it often. I don't get the rebrand, their old name was descriptive, easy to google, and from all perspectives really good. The rebrand won't change me using it, but I really can't see the positive in this.

I’m assuming it’s a move away from their core offering of transfers and currency exchanges into a more broad banking offering.

Re: TransferWise changes name to Wise

#103

Post by refurb »

johnisgood wrote: post #98

The reason I am NOT USING TransferWise is that I encountered something strange. To obtain their debit card, one of the requirements is that I add money to my account. So far so good. When I am on that page where I can enter the amount I want to add, there is always a minimum amount given. This is not in itself a problem. The problem is that - to my surprise - this varies by a LOT, and I have no clue why. Sometimes it…

Sounds you got caught up in A/B testing maybe?

It’s to TW advantage to have a higher minimum deposit, but the drop off is likely higher at higher amounts. They probably test high amounts regularly.

But as a single customer you shouldn’t have seen different amounts. That’s just confusing.

Re: TransferWise changes name to Wise

#104

Post by refurb »

jen20 wrote: post #7
panarky wrote: post #5

Earlier quoted context omitted.

What are the limitations?

One in the US is that you cannot use a borderless account for ACH transactions initiated by the counterparty (despite it presenting the details that make it look like you can).

Are you sure? I’ve done ACH transfers from my own bank account into TW.

I know if the ownership details don’t match up exactly there are extra steps, but it was pretty painless for me.

Re: TransferWise changes name to Wise

#105

Post by johnisgood »

refurb wrote: post #103
johnisgood wrote: post #98

The reason I am NOT USING TransferWise is that I encountered something strange. To obtain their debit card, one of the requirements is that I add money to my account. So far so good. When I am on that page where I can enter the amount I want to add, there is always a minimum amount given. This is not in itself a problem. The problem is that - to my surprise - this varies by a LOT, and I have no clue why. Sometimes it…

Sounds you got caught up in A/B testing maybe? It’s to TW advantage to have a higher minimum deposit, but the drop off is likely higher at higher amounts. They probably test high amounts regularly. But as a single customer you shouldn’t have seen different amounts. That’s just confusing.

Yeah, it confused the heck out of me, and made me reluctant to use it, because who knows what else they may change. The differences were huge in my currency. :/

I checked just now, it is back to the initial value, the value that I encountered first.

Re: TransferWise changes name to Wise

#106

Post by virgilp »

colincooke wrote: post #12

I love transferwise, depend on it often. I don't get the rebrand, their old name was descriptive, easy to google, and from all perspectives really good. The rebrand won't change me using it, but I really can't see the positive in this.

> The rebrand won't change me using it, but I really can't see the positive in this.

Anecdotal but I was somewhat reluctant to consider them as a "bank" due to their name (seemed like a service geared towards money transfer). The rebrand is not done for the existing customers, but for more easily capturing new ones.

Re: TransferWise changes name to Wise

#107

Post by simonebrunozzi »

"Horror" stories abound in this thread (of course, all is relative; first world problems; etc).

My view is mostly that customer service is broken. Everywhere. A few days ago I wrote and published a "corporate memo" where I make the case that a company such as Stripe could tackle this problem and solve it [0].

I really hope that someone will eventually find a way to provide proper customer service, without resorting to these terrible practices when something gets weird.

[0]: https://simon.medium.com/stripes-opportunity-reinventing-cus...

Re: TransferWise changes name to Wise

#108

Post by eafkuor »

emp_ wrote: post #91

Great Timing! USERS BEWARE, my story I used the service for two years and just had the most surreal disastrous experience since the year flipped. I religiously send a the same (about 5k USD) to my home country every month so I can pay my mortgage and other bills I left when moved to NA. 2021 arrives, I start a transfer on January 27, days pass, nothing. I contact support 10 days later (of something that in the past 2…

> I religiously send a the same (about 5k USD) to my home country every month

Good lord, how much money do you people make in the US?

Re: TransferWise changes name to Wise

#109

Post by jcun4128 »

frosted-flakes wrote: post #29
jcun4128 wrote: post #3

I've had good experience with TWise, sending money can be such a pain. WU was okay but after you exceed some amount start to get blocked/have to prove identity etc... I'm not rich/not sending massive amounts but was still getting flagged early on. TW is working pretty well so far, so is WU after I sent some docs. I tried a few other companies too but yeah settled on TW/WU.

WU = Western Union?

Yeah, they're great for the cash pickup transfers i.e. no receiver bank

Re: TransferWise changes name to Wise

#110

Post by cl3misch »

arthurcolle wrote: post #50

The logo is very bad. Different angles for different letters? It's comically bad. (is it flatter S supposed to remind you of bank wire s) ? Also, top Google search is this: https://www.wise.us/ Unbelievably bad rebrand, shockingly so Naming collisions is such an ugly state of affairs

Am I the only one thinking this collision might be intentional?
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