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A great customer service experience with TransferWise

Transferwise, the international payments provider viewed as a disruptor to high street banks, which offers payments to a range of markets with no hidden fees, initially drew me in as a customer with its competitive rates and ease of use.

However, a recent experience involving a transfer to the US has made me a TransferWise customer for life. Once a month I send GBP to my US account, which usually takes a few working days. During this time I receive email notifications of at what stage the transfer is at, and the expected date for when the funds will be delivered to my account.

When the money did not reach my account two days after the indicated time, I got in touch with customer support. The experience from this point is something banks around the world can certainly take note of. Within a few hours I received an email back with a clear explanation of why the money had not been deposited. The source of the delay was that an extra “1” was added to the end of by my US bank account, an error made by their partner while processing the payment. They informed me they were doing everything to get the money deposited by the end of that day. At this point they offered to refund the service fee as either a credit to my account or via bank transfer. This gesture helped in quelling my frustration.

I then received an email the following day apologising again for the delay and a gesture of apology of free use of TransferWise for life – quite a nice perk as I use the service at least once a month (the money was in fact deposited that day).

A few weeks later I noticed a fee from my US bank, as the payment was sent as a wire transfer (I presumed this was done in order to ensure the transfer was completed as soon as possible given the fact there had been a delay). I sent an email again to TranfersWise asking why the payment went through as a wire transfer and if I could be reimbursed for the bank fee. Again, with a few hours they came back with a clear explanation and were happy to refund the fee, providing I sent a screenshot of the fee.

The manner in which TransferWise handled this is certainly an example of how an organisation can turn around a mistake that could lead from attrition to a very happy customer.

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