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If you have ever considered using @TransferWise, personally or for your business, there are a few things you should know before you proceed....
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First, some background: I've been using @TransferWise for more than 3 years, and it has become an important part of my marketing business, receiving payments from US clients, and paying affiliates around the world.
Yesterday, without any prior warning, I received this email - saying my account has been deactivated. The account had more than $100k USD in it. Funds that are vital for the survival of my business.
The email says I will have to wait for @TransferWise to do "due diligence checks" on my account, before they can let me know what will happen to my $100k!
I have emailed TW, asking for reasoning behind this, upon they reply that they can't give specific reasons.
I have emailed TW, asking for reasoning behind this, upon they reply that they can't give specific reasons.
As September just ended, I just sent over 35 payments with my @TransferWise - some of the transfers have not arrived, but I can't check the status of these transfers, as TW has deleted my account
It has taken me years of hard work to build my business to where it is today, and now it could all end in an instant, because @TransferWise has literally choked off our free cash flow, and holds our funds.
So if you ever consider using @TransferWise, make sure you NEVER keep a balance there, make sure your business is not reliant on their services, and make sure you have backup capital. You never know when TW will decide to shut down your account and hold your funds.
I was using the @TransferWise debit card to pay for all online services needed for our business (ad accounts, servers, etc). All those payments are now failing, and we don't have access to even see the card statements.
@TransferWise are also deleting my replies to their tweet.
Latest: it can take 60 business days for @TransferWise to decide what to do with the $100k they're holding. That's 3 months.
How many small businesses have Transferwise ruined this way?
How many small businesses have Transferwise ruined this way?
