Head up! scam on digital banks

[Rembrandtlin]

If you are looking to open a business bank account. I STRONGLY SUGGEST YOU RUN AWAY FROM WISE TRANSFER.

We opened a Wise Transfer business account for cheaper cost.

The account was working fine at the first month.

One day, we received £85k pay in from HMRC repayment, we spent £50k at the first few days. The week after we wanted to make a transfer again, but the account was unable to log in. We called customer service and was told it had been locked and requested informations on the £85k pay in. We provided the documents (HMR approved repayment letter). Wise reviewed for weeks and decided to close the account without any reasons or notices period given. Wise mentioned that they will transfer the remaining balance (around £30k) to other business bank account we provided. 6 months later, they still not transfer the money until now. They also denied to answer any more questions and then blocked my emails.

 

[ctrlbrk]

It is not normal for a bank to behave this way. Chances are there is more to the story.

 

[JEREMY HAWKE]

There have been some reported cases with the challenger banks and the advice is always confirm that your personal and company details are up to date
When ever they request these details don't just assume that it is already done resubmit or confirm that the details on their systems are correct

 

[DontAsk]

I've been using Wise for a while now. One person's rant is not going to make me change.

 

[Rembrandtlin]

I've been using Wise for a while now. One person's rant is not going to make me change.

If you are already with Wise and happy about it. That's a good thing.

FYI, Wise is not a FCSC protected bank.

 

[DontAsk]

If you are already with Wise and happy about it. That's a good thing.

FYI, Wise is not a FCSC protected bank.

I don't consider it a Business bank account. I have a Wise account in addition to my business account.

 

[fisicx]

FYI, Wise is not a FCSC protected bank.

And that is because wise is not a bank. You should have received the HMRC refund into your business bank and used wise to transfer the money overseas. The fault is yours. wise is not a business bank.