CovercyReviews of covercy.com

We had a very bad experience with Covercy. They requested documents, and we provided everything they asked for. We then completed the bank transfer upon their approval, but it was rejected and returned to our account. When we contacted them for clarification, they said they did not know why the bank had rejected it and that the bank was not responding to them. In addition, their support was not efficient, and we did not feel that they genuinely cared about finding a proper solution which was the most disappointing part. Simply telling us that the bank was not responding is not a proactive way to handle such an issue or to support clients effectively. For a company whose core business relies on banking relationships, this is quite alarming. Based on our experience, I would not recommend their service.

Expensive, bad customer service

Covercy Lost Us 9,000 ILS – Proceed with Caution I’m not here to write a glowing review. I want to share my negative experience with Covercy so you can weigh it carefully if you’re considering their services. My partner and I chose Covercy after reading positive reviews and receiving recommendations. Since transferring funds from Israel to Canada isn’t as straightforward as one might think, we wanted to rely on so-called “experts in international money transfers.” We followed all instructions to the letter, providing accurate information and documentation throughout the process. When the funds didn’t arrive at the destination account within the promised timeframe, we reached out to Covercy support. Initially, we dealt with a customer success manager, but as the situation escalated, their manager took over. Throughout this ordeal, we felt Covercy was more focused on deflecting responsibility than resolving the issue. Instead of using the correct branch address, they used our residential address. They also failed to properly configure our banking details (transit and account number), leading to a faulty API request and leaving our funds lost in limbo. When we requested a reversal, Covercy’s management responded that they could place a request but couldn’t guarantee its success or timeline, claiming banks often don’t cooperate. Rather than owning their mistakes, they implied the issue was due to us not providing clear enough details—details they, as “experts,” should have known. Accepting funds for transfer implies an assumed responsibility, but Covercy systematically shook off that responsibility. They didn’t help locate the funds, clarify where they were, or make a meaningful effort to reverse the transaction. Instead, I spent over five hours on phone calls with my bank, speaking with branch managers across Canada. Every bank representative assured me that a reversal should be straightforward and that funds not deposited into an account would automatically be rejected and returned. After all those calls—and countless emails from Covercy blaming me—I was finally able to locate the funds in Canada and get my bank to reverse the transaction. Ultimately, Covercy returned the funds to the originating account, but only because I took matters into my own hands. If I hadn’t been as resourceful and persistent, we would likely have lost 9,000 ILS. This experience has taught me that Covercy will abandon you when things go wrong. They won’t take responsibility, they won’t help, and they’ll blame you for their own mistakes. Proceed with caution, and if you can, I’d strongly recommend avoiding Covercy’s services altogether.

Very bad service. Stay away Unprofessional service

Very cumbersome process of money transfer. Not all requirements are mentioned upfront and by the time you get to transfer the money - the exchange rate had changed.... I used a different- easy, legal and reliable provider. I just read the previous review- and had the feeling I experienced the same issue....

Terrible service

Unclear requirements although the regulator is pretty clear on what’s needed. An uncommunicated delay in bank holidays made them charge me for additional 1000 DKK. They are also a bit more expensive than competitors

Dishonest. They give you one rate, and then let you know that it didn’t go in, and charge you a higher rate later on. Unprofessional, a money making scheme. Stay away.