Wise Money Transfer also employs more than two thousand people from over 60 nationalities across its nine offices worldwide. Wise Money Transfer is also licensed as a money transmitter in individual US states, meaning regulatory authorities fully supervise it in every state in which it does business.Įd Robertson on Unsplash Is Wise Trustworthy? In the US, it's registered as Wise Inc with the Financial Intelligence Unit ( AUSTRAC) as a money remitter, where it's authorised by the Financial Crimes Enforcement Network (FinCEN). For example, Wise Ltd Australia is regulated by the Australian Securities and Investments Commission (ASIC).
Wise is a licensed Authorised Electronic Money Institution, which means it's regulated by the FCA (Financial Conduct Authority) and HMRC (Her Majesty's Revenue and Customs) in the United Kingdom where it's headquartered, as well as by the relevant authorities in all the countries in which it does business. Moving more than US$70 billion across borders for more than 10 million customers every year, Wise is without a doubt a trustworthy choice.
As with all Monito Scores, Wise's score was peer-reviewed by at least one Monito expert. Finally, we analyzed nearly 700 thousand searches on Monito's comparison engine to determine how often Wise Money Transfer was the cheapest service and how often it was competitive against its rivals over the past three months, giving a reliable overview of the service's pricing in relation to the market. Next, we weighed this score against several other key criteria, including customer reviews, percentage of fees constituted by exchange rate margins, pay-in options, access to customer service, as well as business and legal metrics such as volume transferred, appropriate authorization, and company size.
#Wise transfer registration
To begin with, our experts opened a Wise account to test out its functionalities, including the ease of registration and speed of transferring money, which provided a well-rounded overview of the platform's strengths and limitations. As with all services reviewed by Monito, Wise underwent a rigorous evaluation to assess the quality of its service.
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