HMRC VAT Repayment seen as fraud by Wise

Hello, We have recently changed our bank and opened an business account with Wise. The new account details for VAT were then changed online using the HMRC web portal. Yesterday, we received a VAT repayment for the latest VAT return submitted, but Wise blocked the transaction, requesting proof of funds. Sent them screenshots from HMRC portal and they still are requesting more documentation. The money is in the Wise account, but they have now frozen the account, until they verify the extra documentation submitted - which are bank statements. Wise said that if for whatever reason the documentation is not accepted by them, the money will be returned to sender, in this case to HMRC. When and if this happens, will it return to HMRC account portal as a credit and then am I able to initiate the transfer to bank account, using new bank account details? I am in the process of open another bank account for the company, this time with a proper bank. Also, what evidence can I provide Wise that this payment is genuine from HMRC? Thanks

Hi,

The evidence you have provided to the bank should be enough to confirm that the payment is genuine and from HMRC.

If your bank send the payment bank to us, then the payment will create a credit on the account.

Once you change the bank details you can then contact our VAT team and we can release the payment into your bank account.

VAT: general enquiries

Thank you.

I am dealing with the same issue with Monzo Bank,the bank provided me the final statement and the funds were sent on the date of June 3rd 2024 by Monzo but the funds have still not been credited into my account,its been 2 weeks since,i tryed to contact the Monzo Bank but no reply.They just told me that it can take up to 4 weeks for the funds to be transfered wich is unfair keeping jn mind they have frozen my funds for 2 months.