Wise is generally considered very safe for money transfers and holding funds. It is a heavily regulated company, licensed by many top financial authorities worldwide, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), FinCEN in the US, and others. Wise segregates client funds from company funds, holding them in safeguarded accounts, so your money is protected even if the company faces insolvency. It uses strong digital security measures such as two-factor authentication and ongoing fraud prevention. Wise also enjoys a strong reputation with millions of users and excellent customer reviews. However, Wise is not a bank, so deposits are not FDIC insured in the US, but the safeguarding rules in place offer robust protection. Overall, Wise is a safe, reliable, and trustworthy service for transferring money internationally or holding multiple currencies digitally.
