Splitwise vs Wise: Everything you need to know
Find out more about the differences between Splitwise and Wise and how you can use both.
Max, a 32 year old finance professional, found himself ensnared in a nasty holiday booking scam that cost not only him - but his friends too. Here’s his story, and his advice for how to avoid a similar scam.
“A group of ten of us planned a trip to Paris to watch a major sporting event. I’ve always been seen as the more organised one in the group - the sort to share pension tips rather than set up pub trips - and so as usual took charge of arranging everything for the holiday, including the accommodation.
“The tournament led to rooms across the city being booked up and prices were high. I felt a bit nervous, and didn’t want to report back that the best I could do was a poky two star hotel slightly out of town.
“As I was about to give up, I spotted something that seemed too good to be true. Scrolling a popular booking platform, I found a luxurious place near the Champs Elysees for a very good price. Thinking it a no brainer, I booked.
“Unusually, the host said I had to pay off the booking platform. He also said I must pay within twenty-four hours to secure the accommodation, demanding £900. Feeling panicked, and then still using my bank to send money overseas, I called my bank and arranged the payment.
“It was only after I made this payment that I started to get an uneasy feeling. Things didn’t seem right. This was made worse when I went to check the accommodation, only to see that the page had been deleted. It dawned on me - this was a scam.
“The booking platform was unable to help me because the payment had been made off of their platform. I contacted my bank, but they were also unable to help. The money was lost, something made worse by it being my friends’ money as well as my own. We ended up staying somewhere worse than the poky hotel, instead confined to a place blighted by an odd smell and torn off sinks.
“I never thought I was the type of person to fall for a scam. I thought I was aware. But looking back, I can see all the red flags. As a result, I have become more aware - and I try to help educate my friends and family too. I wish, though, I hadn’t needed to be scammed to learn these lessons.
“My advice? If you think it’s too good to be true, it usually is. Oh - and pay on the booking platform.”
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Find out more about the differences between Splitwise and Wise and how you can use both.
Compare PayPal Money Pool alternatives in the UK. Learn the best money pool apps for group payments, travel costs, and payments in different currencies.
Discover how pari passu shares ensure equal footing for UK investors. Learn how this principle affects your dividends, voting rights, and ownership protections.
A complete guide on Performance Share Units (PSU): Read our UK professional's guide to managing and maximizing your international payout value.
What you should look for in a moving company? Get expert tips on choosing reputable movers, understanding costs, and securing your items.
Explore how Stock Appreciation Rights (SARs) work for UK professionals. Learn about vesting, tax implications, and how to maximize your cash payouts.