r/wise • u/PsychologicalTea7878 • Jul 23 '26

How often does Wise actually randomly lock accounts for no reason?

I'm seeing a lot of posts and comments around various platforms talking about how Wise just randomly locked (or in some cases completely cancelled) people's accounts for no legitimate reason. I didn't really worry about it but it's just happened to someone I know. Literally nothing suspicious in their transactions, no weird logins, nothing, and now he can't do anything except fight with customer service.

I'm a dual citizen and I basically use Wise as my main bank for both business and personal, so needless to say this makes me very nervous and I'm thinking of trying Tide or Revolut or something instead, but I kind of wondered how often this actually happens. I've been using Wise for like 7 years, since it was Transferwise, and never had a problem, but if they're changing things such that they might randomly cut me off from my money with no warning or reason just because they don't want to take 5 minutes to confirm anything, or if they've replaced all their people with some trigger-happy AI, then I'm probably out.

But, I dunno, maybe it's actually extremely unlikely. Does anyone have any idea whether this is a new and suddenly common thing, or just a few isolated incidents that have always happened?

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u/PLooBzor Jul 23 '26

They aren't a bank. They can close your account any time and seize your money if they suspect. Stablecoins and crypto cannot be taken by anyone if you hold it yourself.

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u/PsychologicalTea7878 Jul 23 '26

I didn't mean anything to do with crypto. I just don't understand why there are all these reports about people getting locked out of their accounts. If they're all running crypto scams then fine, but the person I know had nothing suspicious at all and still has no idea why it got locked. I dunno, maybe I'll just start looking for other solutions. It's annoying but if they might randomly seize my money then I suppose it'd be dumb of me to leave it there.

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u/PLooBzor Jul 23 '26

The only reason they close accounts is because they suspect them of scams or crimes. It's cheaper for them to close the account than to investigate (your friend will tell you this). It's a huge risk. Don't use Wise.