[Fizzer]

I recently had a client ask me to pay them with Transferwise. It was a horrible experience. After weeks of trying to get it to work, even with the help of support, we eventually gave up and used bitcoin instead.

The Transferwise website was horrible. It gave error messages and kept telling me to fill out some field that didn't exist. After sending screenshots to their support team, they just sent me back links that didn't work.

After several back-and-forths with support they eventually fixed that issue, but then on a later step the website told me to upload "the documents" and gave an upload control. I carefully read every piece of text on the website, and nowhere did it explain what documents it was asking me to upload. It wouldn't let me proceed until I uploaded "the documents". I sent screenshots of all this to the support team and they didn't know what documents I was supposed to upload either.

Eventually support helped me fix that, and I got to a later step, where it asked me for the username and password I use to log into my bank. I am not comfortable providing this to anyone, so I refused. This was the last straw that finally led to me giving up at using Transferwise.

[Improvotter]

Username and password for you bank account? Ough, what a big no no.

[tonyhb]

I'm pretty sure they use plaid for verification, who also do this. It's for instant verification; you can choose to do the old school two-deposit verification too.

[acomms]

That's really surprising. I've had only great experiences using it between Europe and North America. Maybe an issue with sending to Cyprus?

[calvinv]

I've sent money with them a few times from UK to South Africa and had no problems.

The biggest issue with this remitters is they have hidden vetting processes and can't tell you why you don't meet their criteria because any smart fraudster would adapt accordingly. Unfortunately too many people get accidentally caught in those systems

[hkmurakami]

I use transferwise and didn't give them my bank credentials. Question: which country are you in and which country were you sending to? I imagine this sorry of thing is both country specific and possibly bank specific.

The pain was figuring out the exact recipient bank account name in Japan but that's mainly Japan's fault.

[Fizzer]

In the US, sending to Cyprus.

[hkmurakami]

I really wonder why they arranged for your bank credentials. I've always been able to just wire transfer wise in the states and they wore in the recipient country. Pertussis there's some regulation in Cyprus about transfers?

[bwilliams18]

I'd guess it's US AML regulations about sending money to Cyprus.

[stevenj]

Wow, that sounds awful.

I wonder if many people have had problems with TransferWise or think it's a bad product. I've never used it.

[chx]

Surprising. I have been money between various EU countries and Canada without a problem.