Q: Is Wise safe for transferring large amounts?

Yes, we have multiple security features , such as two factor authentication (2FA) for your account and transfers and a dedicated fraud team, to keep your money safe. Wise is also licensed to hold your money and follow strict rules to keep it safe. As we're not a bank, your money isn’t FSCS protected – we safeguard it instead. That means Wise holds it with established institutions, separate from our own accounts.

Question 1

Is Wise safe for transferring large amounts?

Accepted Answer

Yes, we have multiple security features, such as two factor authentication (2FA) for your account and transfers and a dedicated fraud team, to keep your money safe.

Wise is also licensed to hold your money and follow strict rules to keep it safe. As we're not a bank, your money isn’t FSCS protected – we safeguard it instead. That means Wise holds it with established institutions, separate from our own accounts.

Question 2

Is Wise regulated in the UK?

Accepted Answer

Yes, Wise Payments Limited is authorised as an Electronic Money Institution (EMI) by the UK Financial Conduct Authority (FCA) with registration number 900507.

Wise Assets Limited is authorised to carry out investment activities by the FCA with registration number 839689.

Here's how Wise is regulated in other countries and regions.

Question 3

Which documents do I need to send a large transfer abroad?

Accepted Answer

We may ask for documents that show where your money comes from to comply with the Anti-Money Laundering (AML), Counter-Terrorism Financing and Know Your Customer (KYC) regulations.

Read our detailed guide on documents you may need or download our full PDF guide on setting up large transfers to learn more.

Question 4

How long does it take to send money overseas with Wise?

Accepted Answer

How long it takes for your money to reach the recipient depends on the currency you're sending and the currency your recipient is receiving (i.e. GBP to EUR, GBP to USD, EUR to GBP, etc.).

Sometimes, different payment methods or routine checks in accordance with the regulations may affect the transfer delivery time. We’ll always keep you updated, and you can track each step in your Wise account.

On many popular routes, Wise can send your money within one day, as a same day transfer, or even an instant money transfer.

Question 5

What is the maximum amount I can transfer through Wise?

Accepted Answer

There are limits on the amounts you can send with us based on the currencies involved and your payment method. You can find the specific limits for each currency in our Help Centre or by using our calculator. We'll also notify you if you attempt to send an amount that exceeds our limit.

Buying property abroad?

How can Wise help you with buying a property overseas

How we keep your money secure

Privacy and data

Dedicated support

International safeguarding

Get your free Wise account

Check with your bank

Set up your transfer

Complete verification

Pay for your transfer

That’s it, all done

Save on your property purchase abroad with Wise

FAQ