Not upheld: account restrictions and failure to provide appropriate assistance complaint against Wise Payments Limited

Decision detail

Summary

S, a company represented by its director R, complained that Wise Payments Limited failed to provide appropriate assistance after restricting its account in March 2026 pending proof of a trading address. Wise rejected initial documentation provided on 28 March 2026 but accepted documents submitted on 23 April 2026, lifting restrictions on 25 April 2026. R claimed S suffered £3,500 in financial loss and reputational damage but provided no supporting evidence. The ombudsman found that while Wise's communication was poor and acknowledged delays, Wise was entitled to require proof of a trading address and did not receive acceptable documentation until 23 April 2026. The ombudsman upheld the investigator's view that the £120 compensation already paid was reasonable and did not uphold the complaint.

The Ombudsman's reasoning

While the ombudsman acknowledged sympathy for R's position and found that Wise's communication and handling of enquiries fell short of expected standards, the core issue was that Wise legitimately required proof of a trading address and did not receive acceptable documentation until 23 April 2026. The ombudsman accepted that the documents provided before that date did not prove S's trading address under Wise's definition. R's claim of £3,500 in financial loss was rejected due to lack of supporting evidence. The £120 compensation already paid was deemed reasonable recognition of the inconvenience caused by the delays and poor communication.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website