Money Stuck in Wise

[lh123]

Hi everyone,

I really need urgent advice. I received a payment into Wise (in MYR),‌ but it went over the Wise holding limit. Wise has now frozen the funds in‍ “limbo” , they won’t let me keep it in Wise balance and are forcing me⁠ to transfer it out.

The problem is:

- I don’t have a Malaysian bank account⁤ under my name, which is why I used Wise in the first place.
- Opening⁣ a new one isn’t an option for me right now (long background story)
- Wise⁢ only allows transfer-out to a local account in my name.
- I have an e-wallet︀ that I tried setting as the external account but the sum is too large so︁ it bounces, and when it gets refunded to Wise, it automatically sweeps it back to︂ that e-wallet which bounces again so it's stuck in a loop. (I can get it︃ to work if they split the transfer into two but there's no option to do︄ this and they're forcing me to send the entire sum at once)
- Refund to︅ sender isn’t available anymore since the money is already stuck in this “forced transfer” stage.︆ (It says "Something went wrong, please try again" when I try refunding the payment to︇ the sender

Wise support has not been helpful in this regard and they only send︈ me links to documentations which I've gone through hundreds of times and they don't seem︉ to listen to the situation that I'm in. It's quite urgent.

Anyone encountered a similar︊ situation and how did you get it solved?

 

[alley]

That does sound odd, normally Wise support is quite responsive and issues get resolved quickly.‌ How much money are we talking about here?

Maybe consider spreading the funds across multiple‍ EMIs. Opening a few accounts and splitting the amounts could help avoid a single large⁠ transfer raising flags on one account.

 

[daniels27]

Find a looser on the street, pay him for a name change to your name,‌ open an account in his name and transfer out. The pay him to change his‍ name back. Or chage your name to Daniel S Berhad, then open a company Daniel⁠ S Berhad, get a bank account for the company and show Wise your name change⁤ and get the money out to your company. Not that you could also change your⁣ name to the same as your brother and get the money out that way if⁢ Wise recognises a name change declaration from the government.

And just to be honest, maybe︀ abstain from stange activities in future, not make people made it onto the black list︁ of all banks. And those who did, most often also made it to the black︂ lists on this forum.

 

[shimo]

If you can prove residency in another country (a residency certificate is the best option)‌ and confirm your local MYR account is closed,

• You will be able to convert the‍ balance into another currency and move the money to a bank account in your new⁠ country of residency!
  

If you will have any issues with that:
1) Official complaint to⁤ Wise - submit it in writing using the form on the website and request a⁣ written response.
2) If your account is registered in Malaysia => send complaint to Bank⁢ Negara Malaysia(Escalation to the regulator)

 

[lh123]

Folks, thanks for the suggestions! I managed to get it sorted out.

Not sure whether‌ it's wise (no pun intended) to post the solution here but if anyone is in‍ a similar boat I can send it to you in DM (no BS, it's a⁠ workaround in their app)

 

[alley]

Please PM me if you can, or I can PM you, curious to learn about‌ your solution.