For our customers sending money with Wise or holding money in the Wise account in Europe, in keeping with Wise’s regulatory obligations, we “safeguard” our customers’ funds in a mix of cash in leading commercial banks and low risk liquid assets. We also keep your money separate from the money we use to run our business.
Here’s an overview of where we predominantly safeguard:
| Type | Institution |
|---|---|
| Cash Deposit | JPMORGAN CHASE BANK, N.A |
| Low Risk Liquid Assets | Money Market Funds with BlackRock and State Street |
We hold funds in cash with the banks and in low risk liquid assets in order to diversify risk and maximise liquidity. We take this approach to make sure your money is highly liquid and therefore always available to you.
We only invest in money market funds which provide same day liquidity and where our holding in the fund is less than 5% of the total assets under management.
We are not a bank, which means we don't lend out our customers’ money to people or businesses. This also means our payment services aren't subject to the Belgian Deposit Guarantee Scheme.
We do however offer our Assets feature, which is an investment service, in certain countries. Money invested in Assets is held in segregated accounts, separate from Wise’s own funds. In addition to this protection, each customer is eligible for protection under the Estonian Guarantee Fund (GF) up to a value of 20,000 EUR in Europe.
Learn more about how your money is held when you use Assets
Who regulates Wise?
In the EU, Wise Europe SA is an authorised payment institution supervised by the National Bank of Belgium. TINV Europe AS is authorised as an investment firm, supervised by the Finantsinspektsioon. We follow a strict set of rules set by our regulators in each country in which we operate, such as the Financial Conduct Authority (FCA) in the UK, the National Bank of Belgium (NBB) in Europe and 48 state regulators in the USA. These regulators protect the markets in which we operate.