Longtime Wise user here, and recently I've been having an issue too, but one I haven't seen posted here as yet.
My account has been flagged several times for "speculative currency trading", even though that's not what I'm doing, and my usage patterns haven't really changed much since I started using the platform.
If you set up a transfer and don't fund it immediately, or you cancel it and set up another transfer within a narrow time window where the exchange rate has changed to your benefit, the system thinks you're speculating. This never happened to prior to the last 12 months or so, and recently it seems they're flagging transfers this way much more often. Seems like it's probably due to overall volatility in certain currencies being higher over the last year or so.
The "penalty" they apply is just that you can't "lock" an exchange rate for international transfers anymore. Usually, your exchange rate is locked at the market rate at the time the transfer is initiated, and then you have a time limit to fund the transfer at the rate you locked.
But now, when you initiate a transfer they add a 3% "buffer" on top of the funds required to fund the transfer, and they apply the market rate at the time they receive the funds, and then refund you whatever the difference is.
My account has been flagged several times for "speculative currency trading", even though that's not what I'm doing, and my usage patterns haven't really changed much since I started using the platform.
If you set up a transfer and don't fund it immediately, or you cancel it and set up another transfer within a narrow time window where the exchange rate has changed to your benefit, the system thinks you're speculating. This never happened to prior to the last 12 months or so, and recently it seems they're flagging transfers this way much more often. Seems like it's probably due to overall volatility in certain currencies being higher over the last year or so.
The "penalty" they apply is just that you can't "lock" an exchange rate for international transfers anymore. Usually, your exchange rate is locked at the market rate at the time the transfer is initiated, and then you have a time limit to fund the transfer at the rate you locked.
But now, when you initiate a transfer they add a 3% "buffer" on top of the funds required to fund the transfer, and they apply the market rate at the time they receive the funds, and then refund you whatever the difference is.