What is Wyre?
Wyre provides a comprehensive suite of high-quality payment APIs aimed at improving your fintech applications. With the ability to accept payment methods that reflect your customers' desires, you can ensure smooth transaction experiences. A single API call allows for global payouts to more than 130 nations, simplifying international business operations. Moreover, you can establish compliant accounts that efficiently conduct KYC checks, enhancing security and trust. Your application can also incorporate cryptocurrency functionalities, enabling the sending, receiving, and management of digital assets via our Secure Wallets API. Our API facilitates the exchange between fiat currencies and cryptocurrencies, creating a flexible financial framework. Wyre distinguishes itself through competitive pricing and execution, granting you advantageous rates while assuring the protection of your assets. For prospective partners, we streamline market entry, allowing you to go live in as little as six hours, a significant reduction from the usual six months. By leveraging blockchain technology, we aim to develop the quickest and most economical solutions for global money transfers. Our committed team, comprised of payment specialists, blockchain advocates, product experts, and technology enthusiasts, works collaboratively to merge experience with innovative solutions, fostering growth and success in the financial sector. Together, we are dedicated to redefining how transactions are completed on a global scale.
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Their Initial Approval Process TAKES TWO WEEKS - Failed Transactions
Updated: Apr 19 2022SummaryI 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.
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.PositiveSo 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.
NegativeThey 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.
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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.
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