Eric Anderson, a 77-year-old retiree from Bedlington, Northumberland, has expressed profound relief after more than £24,000 was returned to him, with interest, following a distressing week-long lockout from his international Wise account. The funds, initially deposited to convert into Euros for renovations at his Lanzarote holiday home, had been frozen by the digital bank amid security concerns.
Account restricted and closed within minutes
On July 10, just a week after depositing £24,400, Anderson was notified that his account would be 'temporarily restricted for security checks'. Within minutes, the account was closed entirely, with Wise stating he was 'at high risk of being scammed'. This left Anderson, who has owned the holiday home for 25 years and is experienced with online banking, feeling extremely stressed.
He said: 'I felt like I had to jump through a lot of hoops to try and get my money back after that, answering loads of security questions and sending proof of ID, so I was left extremely stressed. I kept just getting that they needed more info, but I wasn't sure what else I could do.'
Breakthrough after days of uncertainty
After days of anxiety, a breakthrough came on Wednesday evening when Wise sent the full amount, including interest, back to Anderson's personal account. The retired couple, who spend two months each winter in the Costa Teguise region, can now proceed with home improvements.
Anderson continued: 'It was a huge relief when I got the money back into my account, and it felt like a huge weight off my shoulders. Things had been silent for a little while, so getting that response from them, and the good news that the money was back with me, was amazing.'
Wise responds and customer service praised
Anderson credited the customer service team for guiding him through the recovery process, noting that the outcome was positive despite the difficult situation. A Wise representative stated they were 'pleased to have resolved this matter'. The incident highlights the challenges some users face with digital banking security measures, especially when transferring large sums for property upkeep abroad.
With the money now secured, Eric and his wife Sue look forward to their winter trip to Lanzarote, ensuring their holiday home is in top condition for years to come.
