TransferWise ban my account for trying to buy Crypto

[Min Park]

TransferWise ban my account when i try to send money to exchange (Kraken)

Hello XXXXX,

Thank you for reaching out to us!

Account deactivation can occur due to a number of reasons, which may include but are not limited to, security concerns, violation of our Terms of Use agreement, attempts to buy banned or illegal goods, attempts to buy crypto currency and detection of multiple accounts being used by same individual.
Unfortunately this information is not accessible to Customer Support agents as we have a separate team dealing with this.

In order to appeal the decision against the deactivation, please get in touch with the team by writing an e-mail to [email protected]. Please include your full name and date of birth in the e-mail. They should be able to get back to you within 2 business days.

Best regards,

xxxx
TransferWise

 

[void]

yes, they don't allow this - unpleasant but expected
funny thing is that they allow to receive funds from crypto exchanges 🙂

 

[MrTony]

Man, you should read terms and conditions before opening any account and doing any transaction.

TransferWise - Send Money Abroad-Customer Agreement - TransferWise.com


1.2 We do not provide our Services to businesses or support transactions which involve:
...
bitcoin or other cryptocurrencies;
...

 

[Volex]

Have you tried to appeal their decision, because aometimes they reactived the account?

 

[Min Park]

MrTony said:
Man, you should read terms and conditions before opening any account and doing any transaction.
TransferWise - Send Money Abroad-Customer Agreement - TransferWise.com
1.2 We do not provide our Services to businesses or support transactions which involve:
...
bitcoin or other cryptocurrencies;
...
Click to expand...

I just want other to know that they are serious about that.

 

[Bmw850]

Wenoff said:
Have you tried to appeal their decision, because aometimes they reactived the account?
Click to expand...

They do not, I tried many times.
When they deactivate it's finished

 

[Martin Everson]

To all you should NEVER use crypto with any FI unless they explicitly allow it. In the case of TW they explicitly forbid it. You will end up burning through EMI's unless you pay attention to their terms and conditions thu&¤#.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[extremedox101]

sorry op , yes they block crypto , i even tried to transfer to some non crypto ibans and they are blacklisted .

void said:
funny thing is that they allow to receive funds from crypto exchanges 🙂
Click to expand...

lmao

i wonder is it safe to send low xxxx to tw monthly . i'm currently warming up account . but i'm not sure when they start block you .

the intermediate emi that pay me send this text with the payment "+Payroll / Personnel payment"

 

[Martin Everson]

extremedox101 said:
the intermediate emi that pay me send this text with the payment "+Payroll / Personnel payment"
Click to expand...

If there is no direct connection to crypto it should be fine. However don't bother if you can't afford to lose your TW account. TW is very useful as I have some emerging market currency balances I keep there and no offshore bank I have allows me to hold a Moroccan Dirham account smi(&%.

The fact an appeal to TW does nothing is scary. It brings into question whether a disgruntled customer can send you 5 euro from a crypto exchange with payment text "Bitcoin Trading Profit" just to screw you over and get your account shutdown eek¤%&.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[void]

Martin Everson said:
It brings into question whether a disgruntled customer can send you 5 euro from a crypto exchange with payment text "Bitcoin Trading Profit" just to screw you over and get your account shutdown
Click to expand...

TW support will confirm that receiving funds from crypto exchanges is perfectly fine (at least nowadays)

 

[Martin Everson]

void said:
TW support will confirm that receiving funds from crypto exchanges is perfectly fine (at least nowadays)
Click to expand...

oops yes sorry it was mentioned here receiving is ok with TW. Very interesting that actually.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[devnull]

Not related with cypto, upon I trying opening one account for our company, they closed our accounts immediately. Same for other providers.

 

[extremedox101]

Martin Everson said:
If there is no direct connection to crypto it should be fine. However don't bother if you can't afford to lose your TW account. TW is very useful as I have some emerging market currency balances I keep there and no offshore bank I have allows me to hold a Moroccan Dirham account smi(&%.

The fact an appeal to TW does nothing is scary. It brings into question whether a disgruntled customer can send you 5 euro from a crypto exchange with payment text "Bitcoin Trading Profit" just to screw you over and get your account shutdown eek¤%&.
Click to expand...

intermediate emi name "Interpay Limited" it's not crypto related , but basically i doubt i can trust transferwise with more than few hundreds at the moment. things that very easy and fast like transferwise always fail at some point until they change it to trustwise . but my stupid emi push me to use that until they fix their s**t . but thankfully not long time ago i learned to withdraw from my emi to tw after reading an tutorial made by some guy .

lol dirham it's must be fun to hold other currencies .

 

[niggashit]

Why no one ever try to recruit person to buy Bitcoin behalf of you? I'm sure that can prevent this bans.

 

[void]

niggashit said:
Why no one ever try to recruit person to buy Bitcoin behalf of you? I'm sure that can prevent this bans.
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let say I want to buy BTC for 20k using money on EMI - how do you suggest this could work with acceptable safety level? 🙂

 

[niggashit]

void said:
let say I want to buy BTC for 20k using money on EMI - how do you suggest this could work with acceptable safety level? 🙂
Click to expand...

Well, This need experience. Ahahahaha.

 

[jeromest]

It has always worked with MisterTango, TW doesn't see MT as crypto?

 

[void]

jeromest said:
It has always worked with MisterTango, TW doesn't see MT as crypto?
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technically it probably works - however MT cannot be trusted with bigger money than for day-to-day spending anymore and I don't think you're able to upload there higher amount nowadays anyway

 

[Bit Tilted]

Would like to know where that tutorial made by some guy is.. Sounds like some good reading.

 

[Bmw850]

Hi, seems I m in same case.
I opened a Transferwise business account for exchange purpose, I received few payment from b2c customers.
When I tried to make a wire transfer , they asked me some questions and few hours later they have deactivated my account.. it was yesterday, so I have no answer yet, someone knows what next?