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The Irony of Fintech Transparency vs. Traditional Banks =======================================================
The Irony of Fintech Transparency vs. Traditional Banks =======================================================  ### Gergely Orosz
@GergelyOrosz
The most ironic thing in all of this is Wise tells me they cannot tell me anything about why they restrict my account (and what I would need to do to resolve it)… because they are not a bank.
This itself is a strong reason to use local banks over Wise… which I am now
#### Gergely Orosz
@GergelyOrosz · 9h ago @elmorek They tell me they do more strict checks because... they are not a bank
Does not explain why they cannot even tell me what these checks are, why they are not done, and why they restricted my account.
Closed my account, not changing my mind Show More
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Mar 12, 2026, 6:07 AM View on X
2 Replies
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1,860 Views  Gergely Orosz @GergelyOrosz
One Sentence Summary
The author argues that Wise's excuse for opacity—not being a bank—is a compelling reason to prefer traditional local banks.
Summary
In this follow-up, Orosz highlights the irony of Wise's customer service stance. The company claims it cannot disclose details about account restrictions because it is 'not a bank.' The author concludes that this inherent lack of transparency in the fintech model is a strong justification for businesses to stick with traditional local banks that offer more predictable service.
AI Score
75
Influence Score 2
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English
Tags
Wise
Fintech
Traditional Banking
Transparency
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The Irony of Fintech Transparency vs. Traditional Banks |... ===============