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).
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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.
Anyone can write a CrowdTrust review. People who write reviews have ownership to edit or delete them at any time, and they'll be displayed as long as an account is active.
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.
