Audience
Businesses and companies seeking a provider of payment APIs to power their fintech application
About Wyre
Wyre provides a wide variety of world-class payment APIs to power your fintech application. Accept localized payment methods your customers actually want to use. Send global payouts to over 130+ countries using 1 API call. Create compliant accounts that perform KYC checks on your customers. Offer Crypto within your application. Send, receive and manage cryptocurrencies through our Secure Wallets API. Exchange fiat and crypto with our API. Wyre provides competitive pricing and execution. Wyre secures excellent rates and gives you peace of mind knowing that your assets are secure. Contact our team to become a partner and go to market in 6 hours, not 6 months. We're leveraging blockchain technology to build the fastest and most cost effective way to transfer money internationally. No strings attached. Wyre is a team of payment gurus, early adopters of blockchain, product experts, and tech fans. We work together to balance experience and intelligence, with opportunity and innovation.
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"Their Initial Approval Process TAKES TWO WEEKS - Failed Transactions" Edited 2022-04-19
Pros: So far I have nothing positive to say about this service. I am using a Ledger Liver hardware wallet and this is one of the services available to buy crypto with that wallet in the U.S.
Cons: They want photographs and will not accept a hi-res scan of your ID items. That is ridiculous. I am 70 and my hand is not steady enough to take good clear photos with my cell phone so I usually use my hi-res scanner. I have done this with many other companies and have never had them my documents questioned.
More problems with WYRE: Transactions never get completed. I have had three transactions which took a ridiculous FIVE business days to complete and then failed because their system could not properly interface with the Cash Management system at Fidelity. They need to go back to the drawing board and fix their system. It is really sad because LEDGER mentions them for users in the USA. I tried TRANSAK and that system is reliable and completes transactions in near real time. With the fluctuations in the crypto market you cannot wait five days to complete a transaction.Overall: I initiated the sign-up process 10 days ago on March 15th. Their support on line is ridiculous. You cannot talk to them on the phone. Extremely disappointing service. The questions concerning how long I have used this product and how often do not apply since I have not been approved yet. I only wish that LEDGER would not give them any type of recommendation in their LEDGER LIVE app. Do NOT use WYRE in its present form. They need to fix their processes.
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About six hours after I wrote this review after not hearing from the approval team at WYRE for three days I received an email that my account was approved. TEN DAYS FOR AN ORGANIZATION TO APPROVE AN ACCOUNT TO ME IS EXTREMELY EXCESSIVE. They need to streamline their approval process to be more responsive IMHO.
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