Will Wise Refund Scammed Money?

Wise can refund money lost to fraud, but the refund depends on the transaction type and how the payment was made. For unauthorised card fraud, Wise investigates and refunds under Visa/Mastercard rules. For merchant disputes, the chargeback mechanism applies with a 30–45 day timeline. For GBP APP scams in the UK, a separate reimbursement procedure is available from October 2024. For transfers voluntarily confirmed by the client, recovery is not guaranteed. Immediate action – freezing the card and submitting the fraud report through the Wise app – is the critical first step.

When Wise Is Obligated to Refund

The determining factor is how the transaction was executed and whether the client authorised it. Wise distinguishes between unauthorised card payments, merchant disputes processed through chargeback, and transfers the client confirmed themselves. Each category carries different refund obligations and timelines. For UK clients, an additional category exists – GBP APP scams covered by new reimbursement rules from October 2024. The classification determines whether Wise is obligated to refund, whether recovery depends on payment scheme rules, or whether the client must pursue alternative mechanisms.

Unauthorised Card Fraud

Where a card payment was made without the client’s authorisation – through card theft, account compromise, or credential theft – Wise investigates the transaction. If the payment is confirmed as fraudulent and unauthorised, Wise refunds the amount under Visa/Mastercard rules. Wise asks the client to freeze the card immediately and submit a fraud report for the specific transaction through the app. Most card fraud cases are resolved within 10 business days. Under PSD2, the payment service provider must refund an unauthorised transaction unless it proves gross negligence on the part of the client. The burden of proving gross negligence lies with Wise.

GBP APP Scam Reimbursement – UK Rules From October 2024

Wise separately states that from 7 October 2024, clients may be eligible for reimbursement where funds were sent in GBP to a UK recipient who turned out to be a fraudster. This applies to authorised push payment scams processed through UK payment systems. Eligibility depends on the specific circumstances of the case and the applicable rules. This reimbursement channel is specific to GBP transfers within the UK and does not apply to international transfers or other currencies.

Card Disputes and Chargeback – Merchant Disputes

Where the client made a card payment but did not receive the goods or services, or where the transaction is otherwise disputed, Wise provides a dispute and chargeback procedure. The dispute is submitted through the Wise account after the transaction status becomes “completed.” For merchant disputes, Wise states that the response typically takes 30–45 days as timelines are governed by Visa/Mastercard rules. If the dispute does not meet chargeback criteria, it may be rejected. The chargeback mechanism is governed by payment scheme rules and does not require court proceedings.

Voluntarily Confirmed Transfers

Where the client initiated and confirmed a transfer to a fraudster themselves, there is no guarantee of refund. Wise allows the client to submit a fraud or scam report for the transfer, but the report does not result in an automatic refund. If the transfer is already completed, recovery depends on whether the funds can be stopped or recalled through the recipient’s bank. In most cases, a completed transfer cannot be reversed by Wise alone. The probability of recovery is significantly lower for voluntarily confirmed transfers than for unauthorised card fraud.

When Wise Refuses a Refund

Wise is likely to refuse a refund in several situations. First – the client voluntarily confirmed the transfer, and the funds have already been withdrawn from the recipient’s account. Second – the card dispute does not meet Visa/Mastercard chargeback criteria. Third – the fraud report was submitted too late to intercept or recall the funds. Fourth – the bank determines that the client acted with gross negligence in protecting their credentials or authorising the payment. A refusal by Wise is not final – the client is entitled to escalate through Wise’s formal complaint procedure and subsequently to the relevant financial ombudsman or regulator.

Immediate Steps After Discovering Fraud

Step 1 – Freeze the Card and Submit a Fraud Report

If the fraud involves a card payment, the card must be frozen or cancelled immediately through the Wise app. The fraud report is submitted by selecting the specific transaction and choosing the fraud/scam reporting option. Wise states that the report is submitted from the transaction list in the app. If the reporting form is not accessible, the client should contact Wise support directly. For transfer fraud, the report should be submitted immediately while there is still a chance to intercept the funds before they are moved further.

Step 2 – Preserve All Evidence

All correspondence with the fraudster, invoices, screenshots of fraudulent websites or communications, payment confirmations, recipient details, and any other supporting materials must be preserved without alteration. Digital evidence forms the foundation for Wise’s internal investigation, the Visa/Mastercard chargeback procedure, and any subsequent regulatory or judicial proceedings.

Step 3 – File a Police Report

In parallel with notifying Wise, a criminal complaint should be filed with the relevant national police authority. The police report is an important evidentiary document for both Wise’s investigation and any subsequent legal proceedings. A criminal investigation unlocks access to bank records, IP logs, and payment system data critical for identifying the fraudster and tracing stolen funds.

Step 4 – Submit a Formal Complaint and Escalate

Where Wise refuses the refund, the client should submit a formal complaint through Wise’s complaint procedure. Wise states that it usually acknowledges the complaint within 1 business day and aims to provide a final response within 15 calendar days, though the timeline may be extended for complex cases. If the complaint is not resolved satisfactorily, the dispute can be escalated to the relevant financial ombudsman or regulator depending on the jurisdiction – the Financial Ombudsman Service for UK-regulated matters, or the relevant national authority for EEA matters through Wise Europe SA (Belgium).

Alternative Recovery Mechanisms

Financial Ombudsman Service (UK)

For UK-regulated matters, complaints about Wise’s refusal to refund can be referred to the Financial Ombudsman Service. Published decisions show that outcomes depend on the transaction type, the client’s actions, and the adequacy of Wise’s fraud controls. Ombudsman decisions are binding on Wise. Referral to the FOS is free of charge for the client.

Complaint to the Financial Regulator

Wise Europe SA is authorised as a payment institution in Belgium. In the UK, Wise is regulated by the Financial Conduct Authority (FCA). A regulatory complaint does not return funds directly but initiates a supervisory review and creates regulatory pressure. Where systemic failures in fraud prevention or PSD2 compliance are identified, the regulator may require Wise to reconsider its position.

Civil Litigation

Civil proceedings against Wise are available under EU and UK law where a breach of PSD2 obligations is proven, Strong Customer Authentication was not applied, suspicious transaction patterns were ignored, or fraud notifications received an inadequate response. Civil proceedings against the fraudster are available in parallel where the fraudster is identified and their assets are located. The European Account Preservation Order (EAPO) enables the freezing of the fraudster’s assets across all EU member states simultaneously.

Criminal Proceedings

A criminal complaint filed with the relevant national cybercrime unit initiates an investigation in which law enforcement authorities gain access to bank records, IP logs, payment system data, and telecommunications operator records. Criminal investigation is the primary tool for identifying anonymous fraudsters and tracing the movement of stolen funds across jurisdictions.

Wise Contact Details for Fraud Enquiries

Wise is a digital payment platform with no traditional branch network. The primary channel is the Wise app and Help Centre. Wise Europe SA (EEA): Rue du Trône 100, 3rd floor, 1050 Brussels, Belgium. Wise Assets Europe AS: Veerenni tn 24, 10135 Tallinn, Estonia. Phone support (24/7): available through the contact interface after logging in; US line: +1 888 501 4041. Fraud reporting: through the Wise app – select the transaction and report fraud/scam. Card disputes: through the Wise account after transaction status is “completed.” Complaint acknowledgement: within 1 business day. Final response target: 15 calendar days. Escalation: Financial Ombudsman Service (UK) or relevant national authority (EEA).