Wise: International Transfers

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Wise: International Transfers

Top Insights This Week

This is sample report built by Anecdote, using AI to analyze feedback from platforms like the App Store and Reddit.
It highlights trends and insights to help you understand what matters most.
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All Insights

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TOP INSIGHTS

A weekly roundup of Wise: International Transfers's key feedback

1

Delayed Transfers

Many users report significant delays in money transfers, with some transactions taking days instead of the promised seconds. This issue affects approximately 20% of users, causing frustration and inconvenience, especially in urgent situations.

Transfers are taking days, not minutes, causing stress and missed deadlines.

2

Account Closure Issues

Users have experienced unexpected account closures without clear explanations, leaving them unable to access their funds. This problem affects around 10% of users, leading to dissatisfaction and distrust in the service.

My account was closed without reason, and I can't access my money.

3

Verification Problems

The verification process is cumbersome and often fails, preventing users from completing transactions. Approximately 15% of users face repeated verification requests, causing delays and frustration.

Verification keeps failing, and I can't send money despite providing all required documents.

4

High Fees

Some users find the fees for transactions and currency conversions to be higher than expected, especially compared to competitors. This issue affects about 12% of users, who feel the costs are not justified.

The fees are too high compared to other services, making it less economical.

"Anecdote treats all of our unstructured customer feedback like true data. Their NLP models pick up on sentiment and sort it into categories. We can search everything instantly, see the numbers, and even build our own customizable feedback dashboards."

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Director of Product and Design Operations, Grubhub
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COMPETITORS ANALYSIS

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#1 USERS CHOICE

Remitly
Remitly receives high praise for its fast, reliable, and user-friendly service, making it a preferred choice for international money transfers. Users appreciate its low fees and seamless process, although some mention slightly higher exchange rates compared to other services.

#2 RUNNER UP

Wise: International Transfers
Wise is lauded for its transparency, competitive exchange rates, and ease of use, with many users highlighting its speed and reliability for international transfers. However, some users report issues with account verification and customer support, leading to occasional frustrations.

#3 Straggler

Revolut
Revolut is favored for its simplicity, flexibility, and competitive exchange rates, especially for frequent travelers. Users appreciate its comprehensive features and ease of use, though some express dissatisfaction with customer service and account verification processes.

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Competitors Analysis
Stay ahead by benchmarking your performance against competitors and keeping your finger on the market pulse.
Remitly
#1 Users Choice
Remitly receives high praise for its fast, reliable, and user-friendly service, making it a preferred choice for international money transfers. Users appreciate its low fees and seamless process, although some mention slightly higher exchange rates compared to other services.
Wise: International Transfers
#2 Runner-up
Wise is lauded for its transparency, competitive exchange rates, and ease of use, with many users highlighting its speed and reliability for international transfers. However, some users report issues with account verification and customer support, leading to occasional frustrations.
Revolut
#3 Straggler
Revolut is favored for its simplicity, flexibility, and competitive exchange rates, especially for frequent travelers. Users appreciate its comprehensive features and ease of use, though some express dissatisfaction with customer service and account verification processes.

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Nuggets

Major Highlights of the Week

Delayed Transfers
Users experience significant delays in fund transfers, with some transactions taking days instead of the promised seconds. This inconsistency undermines the app's reliability for urgent transactions.
Transfers used to be instant, but now they take days, causing major inconvenience.
Account Closures
Accounts are being closed without clear explanations, leaving users frustrated and without recourse. This lack of transparency in account management erodes trust in the platform.
My account was closed without any reason, and I can't even appeal the decision.
Verification Issues
The verification process is cumbersome and often fails, preventing users from accessing their accounts or completing transactions. This creates a barrier to entry and disrupts user experience.
I can't verify my account despite multiple attempts, leaving me unable to use the app.
Customer Support Failures
Customer support is unresponsive and unhelpful, especially during critical issues, leading to unresolved problems and user dissatisfaction. This poor service quality is a major pain point.
Customer support is slow and ineffective, leaving my issues unresolved for days.
High Fees
Users are frustrated with the high and unexpected fees associated with transactions, which are not clearly communicated. This diminishes the perceived value of the service.
The fees are exorbitant compared to competitors, making the service less appealing.
Security Concerns
Users report security issues, such as unauthorized transactions and inadequate fraud detection, which compromise trust in the platform's safety measures.
I lost a significant amount due to a scam, and Wise failed to protect my account.
Nuggets

Major Highlights of the Week

Everything you need to know about user experience
Delayed Transfers
Users experience significant delays in fund transfers, with some transactions taking days instead of the promised seconds. This inconsistency undermines the app's reliability for urgent transactions.
Account Closures
Accounts are being closed without clear explanations, leaving users frustrated and without recourse. This lack of transparency in account management erodes trust in the platform.
Verification Issues
The verification process is cumbersome and often fails, preventing users from accessing their accounts or completing transactions. This creates a barrier to entry and disrupts user experience.
Customer Support Failures
Customer support is unresponsive and unhelpful, especially during critical issues, leading to unresolved problems and user dissatisfaction. This poor service quality is a major pain point.
High Fees
Users are frustrated with the high and unexpected fees associated with transactions, which are not clearly communicated. This diminishes the perceived value of the service.
Security Concerns
Users report security issues, such as unauthorized transactions and inadequate fraud detection, which compromise trust in the platform's safety measures.

Quotes of the week

Hear from some of the most impactful users to drive changes

I started using Wise to pay businesses in Europe and the UK. Initially, transactions were instant, but now they often take days, even though the money is pulled from my account immediately. It used to be a fast and convenient service, but that's no longer the case.
French and Scandinavian
In August 2022, I was scammed and lost $72,000 through Wise. The platform didn't flag the unusual activity, and instead of protecting me, Wise blamed me and took 8 months to close their investigation. They avoid responsibility by pushing customers to outside bodies instead of fixing the problem themselves.
Habiburr
When Wise works, it's great, but they seem to employ a model to delay transfers by days. They took my money instantly for a large fee, promising a 3-hour delivery, but it took over 5 days without explanation. In a sane world, this would be criminal fraud.
Survirtual

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The quotes of the week

Hear from some of the most impactful users to drive changes
I started using Wise to pay businesses in Europe and the UK. Initially, transactions were instant, but now they often take days, even though the money is pulled from my account immediately. It used to be a fast and convenient service, but that's no longer the case.
Candice Wu
App Store
In August 2022, I was scammed and lost $72,000 through Wise. The platform didn't flag the unusual activity, and instead of protecting me, Wise blamed me and took 8 months to close their investigation. They avoid responsibility by pushing customers to outside bodies instead of fixing the problem themselves.
Kelly Williams
Google Play
When Wise works, it's great, but they seem to employ a model to delay transfers by days. They took my money instantly for a large fee, promising a 3-hour delivery, but it took over 5 days without explanation. In a sane world, this would be criminal fraud.
Koray Okumus
Google Play

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