A Northumberland man has received more than £24,000 back after an international money transfer account he used was temporarily restricted and then closed. Eric Anderson, 77, of Bedlington, had deposited £24,400 into his Wise account on July 3 with the intention of converting the funds into euros for expenses related to his holiday home in Lanzarote. However, seven days later, the account was locked for security checks and shortly afterward closed, with Wise citing a high risk of fraud.

Anderson described the experience as stressful and frustrating, noting that he had to repeatedly provide proof of identity and answer extensive security questions. “I felt like I had to jump through a lot of hoops to try and get my money back,” he said, adding that, despite his experience with online banking over 25 years of managing the holiday home, he was concerned he might not regain access to the funds.

The restriction and closure left Anderson and his wife, Sue, unable to access money intended for upcoming renovation and maintenance work on their Lanzarote property. The couple typically spends several months each winter at their home in the Costa Teguise region.

After five days of uncertainty, Wise returned the full amount, plus interest, to Anderson’s personal bank account. He described the resolution as a “huge relief” and praised the customer service team for guiding him through the process. Anderson also expressed gratitude for external assistance that helped expedite the outcome.

A spokesperson for Wise confirmed that the company was “pleased to have resolved this matter” but did not provide further details on the security concerns that prompted the account’s closure.

With the funds restored, the couple plans to travel to the Canary Islands to oversee improvements to their holiday home later this year, ensuring it is well maintained for their stay. Anderson expressed optimism about enjoying their time away after the challenging episode with the payment platform.