Account Frozen with no notice
We've been using Wise for Business for a few years with no real problems to pay all our suppliers / vendors - €1.0-1.5m per month.

Unfortunately this month, all our regular supplier payments have all been frozen by Wise with no advance notice; including all our business-critical ones whilst they update all their beneficial ownership and KYC information.  So they are holding on to approximately €1m of our cash and our suppliers are all overdue.

I realise that all financial institutions have to regularly update beneficial ownership/KYC information on their clients, but all our banks and other financial partners tend to give 60-90 days to provide information before the threat of freezing accounts, whereas Wise have gone straight in and frozen them with no warning - the payments are all to the same suppliers as in every previous month and for similar amounts, so it's not as if there are any unusual patterns triggering this or payments to suspicious recipients.

Can I speak to someone at Wise to escalate / get this resolved?  No I can't - only the customer support team who don't have any direct contact with their compliance team and can't let me speak to someone in any position of authority.

Beware if you are reliant on Wise for critical business payments!!!