TransferWise holds money since early January 2019

[Alexmorgan]

ShillGates said:
you could protest in Brussels perhaps as this is purely regulations implemented designed by EU , called AMLD 5 and AMLD 6.

so reason uae is still on grey list, uae needs to take more public action and seize money before they are off that list......
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Interesting new infos

Seems banking in EU is risky no matter how legit you are you are still criminal just because your company earn well

Its about stopping new rich people and drain their money

ayousupply said:
Yeah the problem is I need this money to buy a digital asset, and the seller will not wait that long.

So what can I do?
Threaten them with legal action?
Spam them on linked and twitter?
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Sorry for this to happen

But all what you can do is just wait nothing ealse

The banking in EU is so risky for business and this is the result it will lead your company to loss

Specially wise they really have a problem and if you go to trustpilot you will see a lot complaining

 

[JohnnyDoe]

Alexmorgan said:
Seems banking in EU is risky no matter how legit you are you are still criminal just because your company earn well

Its about stopping new rich people and drain their money
Click to expand...

100% correct. You must extend that to every bank wherever situated, not just in the EU.

Fortunately we have crypto.

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[void]

Alexmorgan said:
Interesting new infos

Seems banking in EU is risky no matter how legit you are you are still criminal just because your company earn well

Its about stopping new rich people and drain their money
Click to expand...

the new reality "guilty until proven otherwise" is a new global trend not just in banking sector
however I wouldn't say it has much to do with how much you or your company earn - it's more about all the useless monkeys working for regulated institutions wanting to keep their jobs and pleasing the regulation apparatus that grew to hideous size

 

[Sols]

ayousupply said:
Yeah the problem is I need this money to buy a digital asset, and the seller will not wait that long.
Click to expand...

Can you get a loan from someone and pay them back with the Wise balance when it's unlocked?

ayousupply said:
So what can I do?
Threaten them with legal action?
Spam them on linked and twitter?
Click to expand...

Don't threaten with legal action unless you're prepared to back it up. Threatening legal action can cause them to terminate all contact, except for whatever the bare minimum is required under the law. They'll instead insist on communicating only via legal representation until the matter is settled in court.

You can try naming and shaming them on social media. I think the best outcome from that is you manage to get the email address to some more senior customer service person. But if your funds are held for compliance review, they can't do anything anyway.

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This is the probably the answer to your question.

 

[myhand]

Alexmorgan said:
Seems banking in EU is risky no matter how legit you are you are still criminal just because your company earn well
Click to expand...

You get the same treatment from the tax offices in Europe, if you make lot's of profits they come to take if from you quickly. Only thus who have alot of money to pay tax firms and tax lawyers will slip away. After the fake Corona and the last 5 years things have really went cracy.

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[ayousupply]

Sols said:
Can you get a loan from someone and pay them back with the Wise balance when it's unlocked?


Don't threaten with legal action unless you're prepared to back it up. Threatening legal action can cause them to terminate all contact, except for whatever the bare minimum is required under the law. They'll instead insist on communicating only via legal representation until the matter is settled in court.

You can try naming and shaming them on social media. I think the best outcome from that is you manage to get the email address to some more senior customer service person. But if your funds are held for compliance review, they can't do anything anyway.
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They say the account is undergoing due diligence. But they closed the account already so I don´t understand what due diligence they are doing?

 

[Sols]

ayousupply said:
They say the account is undergoing due diligence. But they closed the account already so I don´t understand what due diligence they are doing?
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Is it terminated or blocked?

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This is the probably the answer to your question.

 

[ayousupply]

Sols said:
Is it terminated or blocked?
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terminated

 

[Sols]

Right or wrong, they must've found something about your business that they really didn't like (illegal, sanctioned persons, or AUP violation). Depending on what it was, they may be required by law to comb through your transaction history in detail to determine whether they have to keep the funds until ”” for example ”” certain sanctions are lifted or they get a special license to release it, or until their own investigation is finished.

There is a degree of reasonability in how long they are allowed to take if it's an internal investigation. You may be in a position where it'd be wise to take @JohnnyDoe up on his offer of an introduction to a law firm that can go after them. It might be a waste of time and money, but you might not know until you try.

Sorry to hear about your situation. Hope it clears up.

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This is the probably the answer to your question.

 

[ayousupply]

Sols said:
Right or wrong, they must've found something about your business that they really didn't like (illegal, sanctioned persons, or AUP violation). Depending on what it was, they may be required by law to comb through your transaction history in detail to determine whether they have to keep the funds until ”” for example ”” certain sanctions are lifted or they get a special license to release it, or until their own investigation is finished.

There is a degree of reasonability in how long they are allowed to take if it's an internal investigation. You may be in a position where it'd be wise to take @JohnnyDoe up on his offer of an introduction to a law firm that can go after them. It might be a waste of time and money, but you might not know until you try.

Sorry to hear about your situation. Hope it clears up.
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It is not illegal, they closed it because it is too high risk for them. I got money from Curacao gambling company. My company is clean EU company in Estonia

 

[Sols]

ayousupply said:
It is not illegal, they closed it because it is too high risk for them. I got money from Curacao gambling company. My company is clean EU company in Estonia
Click to expand...

In that case, you may be able to speed up the review by having an aggressive lawyer go after them. However, if they are still within their legally permitted timeframe, not even that will help.

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This is the probably the answer to your question.

 

[backpacker]

ayousupply said:
Curacao gambling company
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A lengthy discussion and now this .... eek¤%&
Why on Earth did you use Wise for this transaction? Why such a high amount with an EMI??
Read their "Acceptable Use Policy" -> Acceptable Use Policy - EEA
Case closed.

Last edited: Sep 7, 2023

 

[ayousupply]

backpacker said:
A lengthy discussion and now this .... eek¤%&
Why on Earth did you use Wise for this transaction? Why such a high amount with an EMI??
Read their "Acceptable Use Policy" -> Acceptable Use Policy - EEA
Case closed.
Click to expand...

I am not the thread opener 😉 Because even though the company is in gambling, my company has nothing to do with gambling. I do SEO services for that company. I have been 5 years with Wise, never had a problem

Again, is ok they closed my account, but it is not ok they keep money for more than 7 days! I have operational cost, personal costs as well.

 

[backpacker]

ayousupply said:
I am not the thread opener 😉 Because even though the company is in gambling, my company has nothing to do with gambling. I do SEO services for that company. I have been 5 years with Wise, never had a problem
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From Wise "Acceptable Use Policy" ->
"We do not support businesses or transactions which are involved in any of the following categories, such businesses or transactions may be declined."

You are "involved".

ayousupply said:
but it is not ok they keep money for more than 7 days!
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It is o.k. . Check regulations.

ayousupply said:
I have operational cost, personal costs as well.
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They don't care. The regulator gave financial institutions the perfect tool to block money for a very long time.

 

[Alexmorgan]

ayousupply said:
Again, is ok they closed my account, but it is not ok they keep money for more than 7 days! I have operational cost, personal costs as well.
Click to expand...

Im sorry to say but there is no 7 days with wise

There are months of account blocking and igonring calls and Emails


This is Wise

 

[ayousupply]

Alexmorgan said:
Im sorry to say but there is no 7 days with wise

There are months of account blocking and igonring calls and Emails


This is Wise
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I Just received the refund, but only from my personal to my personal account 200$. Not yet from my business account for the 400,000$

Do you guys think they treat personal and business account seprately or did they check both? Anyone had this before?

Last edited: Sep 7, 2023