TransferWise has decided to close our account.
After receiving a message from our staff that TransferWise removed their access to our company account, we were notified via a short email that we’re getting terminated:
This vague email comes after years of supporting and praising this platform. To say it saddens us is an understatement, and unless this is somehow resolved, we will make sure not to support this platform any longer.
What about your pending payments?
We have three business days to clear the funds from our account, so all your deposited funds are safe. However, this will undoubtedly complicate everything and you can expect major delays now with payouts. Until we find an alternative (not even sure if we want to do that now), all TransferWise.com tickets are being switched to regular bank wire.
Why did TransferWise do this?
We know as much as you. The email we received is borderline laughable, it has to be the vaguest things I’ve seen. If I had to guess, it has something to do with fees between them and our company bank account. I will try to call them but I seriously doubt there is a solution, if there was, I am sure they would suggest it. At the moment 60-70% of our business is done via TransferWise, so it’s unclear why this has happened.
Do I have to do anything?
No, as we’ve said, we will switch to bank wire only now. However, we have countless tutorials, pages, and topics related to TransferWise which will now have to be rewritten. Anything that mentions TransferWise in our responses or pages is no longer valid.
Please remember!
Please ignore all TransferWise.com references in our responses, support pages, terms of service, and any other pages you may find, including our fee calculator. We’re waiting to hear back from appeals before we take any action. Correcting so many pages is time-consuming and will take a while. Thank you for understanding.
To recap:
You can still use TransferWise to pay and receive funds from SWAPD. However, we will strictly be paying out via bank wire. We will try to find an alternative solution to this problem, but due to slow response times from TransferWise support, this may take a few weeks. Thank you for understanding.
If you truly want to take a stance (after we investigate this), you can (if you like) close your TransferWise account 