Wise (formerly TransferWise) is a London-headquartered financial technology company that moves money across borders. It was founded in 2011 by Kristo Käärmann and Taavet Hinrikus, renamed from TransferWise to Wise in 2021, and is listed on the London Stock Exchange. Wise's core pitch is that it converts currency at the mid-market exchange rate, the rate you see on a search engine, and charges a separate, disclosed fee rather than marking up the rate. Beyond one-off international transfers, it offers a multi-currency account that can hold and convert dozens of currencies, local account details in several countries for receiving payments, a debit card for spending abroad, and Wise Business accounts for invoicing, paying suppliers and running payroll internationally. Wise operates as a regulated money services business: in the UK it is authorised by the Financial Conduct Authority, and in the US it is registered with FinCEN and licensed at the state level. Like any payments provider, it can ask customers to complete identity verification and may hold or review transfers that trigger compliance checks, which is a common theme in customer feedback. Fees, rates, supported currencies and transfer times vary by route and change over time. The descriptions above are Wise's own published positions and have not been independently verified by CrowdTrust; read the customer reviews on this page for first-hand experiences.
Wise.com generally receives positive feedback for its user-friendly interface and efficient money transfer services. Many customers appreciate the ease of use, noting that the app becomes efficient once navigated, and highlight features like instant transfers, great exchange rates, and reasonable fees.
However, there are significant concerns regarding account restrictions and difficulties in transferring money from bank accounts, with some users reporting that their accounts were frozen without prior notice or explanation. Complaints also include delays in receiving refunds and a lack of responsive customer service during critical situations. Despite these issues, the overall sentiment leans towards satisfaction, with many users considering Wise a reliable financial tool.
Summary generated with AI from recent reviews
Each source counts by its number of reviews. Only reviews written by people are scored.
| Source | Rating | Reviews | Weight | 6-mo | Fake risk |
|---|---|---|---|---|---|
Trustpilot Imported Trustpilot reviews | 4.1 | 153 | 100% | — | ● Medium |
Monthly average rating from reviews written by people.
Not enough history for a trend yet: 153 reviews in 1 month. The chart appears once reviews span two months.
Share of positive (4–5★) and negative (1–2★) reviews mentioning each topic · based on the 153 most recent reviews.
“Super easy and convenient to use”
“It was really difficult to transfer money from my bank account”
Same method for every company: overall rating, legitimacy checks, the average rating of reviews mentioning each area and the 6-month trend · Money & Insurance.
| Company | Overall | Legit | Service | Website & app | Value | Trend | Reviews |
|---|---|---|---|---|---|---|---|
 | 4.1 out of 5 (good) | 100 out of 100 | 3.1 out of 5 (fair) | 3.5 out of 5 (good) | 4.1 out of 5 (good) | — | 153 |
| 4.2 out of 5 (good) | 100 out of 100 | 3.3 out of 5 (fair) | 3.0 out of 5 (fair) | — | — | 1,200 | |
| 4.7 out of 5 (good) | 100 out of 100 | 4.7 out of 5 (good) | 4.6 out of 5 (good) | 4.7 out of 5 (good) | — | 1,060 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.9 out of 5 (good) | 4.7 out of 5 (good) | 4.7 out of 5 (good) | — | 1,060 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.7 out of 5 (good) | 4.0 out of 5 (good) | 3.9 out of 5 (good) | — | 1,060 |
Bottom line: Wise.com is #5 of 5 on overall rating in this group. On service, JustCover Travel Insurance scores higher (4.9 vs 3.1).
153 reviews of Wise.com. Filter by what matters to you.
Easy to use and very reliable products. The debit card is awesome and worked every time I used it overseas. The Exchange Rates are the best you can find anywhere and even with paying a fee you still pay less than you would anywhere else.
Five star service. Easy and super fast.
Great app, low rates and quick transfers but at the expense of very poor and lacking customer service, that is not enough for me. There are always other options to seek. P.S. I did reach you and waited for over a week with no response and my ticket remains pending but I am not in the habit of begging for service, sometimes we just need to walk away.
Easy and convenient to use
Quick answers to the questions people ask most.
Wise (formerly TransferWise) is a financial technology company that lets individuals and businesses send, receive, hold and spend money internationally. Its main products are international money transfers, a multi-currency account, a debit card and Wise Business accounts.
Yes. TransferWise rebranded to Wise in 2021. The company, its founders and its core transfer service are the same; older reviews and articles may still use the TransferWise name.
Wise says it converts currencies at the mid-market rate with no markup and earns money from a transparent fee shown before you confirm a transfer. The fee and the amount your recipient receives depend on the currency pair, payment method and amount, so check the quote in the app for your specific transfer.
Wise states that it is authorised and regulated in the markets where it operates, including by the Financial Conduct Authority in the UK and as a registered money services business in the US. Regulated status does not by itself guarantee a good experience, so compare it with the first-hand reviews on this page.
Wise publishes estimated delivery times per route, ranging from instant for some currencies to several business days for others. Actual speed depends on how you fund the transfer, the destination bank and whether any verification checks are triggered.
As a regulated payments provider, Wise must verify customers and monitor transactions for fraud and money laundering. New accounts, larger amounts or unusual activity can trigger requests for ID, proof of address or the source of funds, which can delay a transfer. Delays and account reviews are among the most common topics in negative customer reviews.
The Wise account lets you hold balances in many currencies and convert between them, and provides local account details in several countries so you can receive payments like a local. The Wise debit card spends from those balances, converting at the Wise rate when you pay in another currency.
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I absolutely hate dealing with Wise. Closing an account shouldn’t feel like an impossible mission. Honestly, it’s easier to get out of hell than to close your Wise account. And before Wise responds with the usual “you can close your account through the app” — I ALREADY TRIED. I contacted Wise support, followed all the steps they gave me, and I still cannot close my account. The “Close account” button remains unavailable. So telling customers to simply go to Settings and close the account is not a solution when the option is literally unavailable. The whole process is frustrating, complicated, and unnecessarily difficult. If someone wants to leave your service, just let them leave. This experience has completely ruined my impression of Wise.
Perfect best financial institution
Super. Thanks
Everything is fine
If it weren't for the fact that they mislead customers and scam them into believing they are receiving a higher exchange rate than in actuality by intentionally displaying the exchange rate as N.NNNN and then always (or almost always since I once received a less-than-0.00005-higher exchange rate because I'd complained about this very thing to them shortly before then; They responded by falsely claiming it's illegal in the US to display the XR to 5 decimals... lol) using N.NNN(N-0.00005), then I'd rate the company higher. They faced negligible legal consequences and or virtually weren't held to account when they were caught doing this, which is I guess why they continue doing it...
I thoroughly enjoy Wise & used it extensively through my trip to the USA last year...i had no issues at all & it was so easy... I now use it when I go over to Australia to visit family...preload the currency before I leave...
Excellent for travelling as it is convenient and fast money transactions.
Yes. Wise Business offers multi-currency accounts, international payments to suppliers and contractors, batch payments and integrations with accounting tools. Business accounts have their own verification requirements.
Wise provides help through its Help Centre and in-app or online support once you are logged in, with phone and chat options available for some account types and regions. Reviews on this page often describe how responsive support was in practice.
This page collects customer reviews of Wise, including imported Trustpilot reviews and reviews written directly on CrowdTrust. Sort by most recent to see current experiences, and check the ratings of 1 and 2 stars for recurring complaints before sending large amounts.
Wise (formerly TransferWise) is a London-headquartered financial technology company that moves money across borders. It was founded in 2011 by Kristo Käärmann and Taavet Hinrikus, renamed from TransferWise to Wise in 2021, and is listed on the London Stock Exchange. Wise's core pitch is that it converts currency at the mid-market exchange rate, the rate you see on a search engine, and charges a separate, disclosed fee rather than marking up the rate. Beyond one-off international transfers, it offers a multi-currency account that can hold and convert dozens of currencies, local account details in several countries for receiving payments, a debit card for spending abroad, and Wise Business accounts for invoicing, paying suppliers and running payroll internationally. Wise operates as a regulated money services business: in the UK it is authorised by the Financial Conduct Authority, and in the US it is registered with FinCEN and licensed at the state level. Like any payments provider, it can ask customers to complete identity verification and may hold or review transfers that trigger compliance checks, which is a common theme in customer feedback. Fees, rates, supported currencies and transfer times vary by route and change over time. The descriptions above are Wise's own published positions and have not been independently verified by CrowdTrust; read the customer reviews on this page for first-hand experiences.
