Wise
Wise is a financial services company offering multi-currency accounts, international money transfers, and a Wise debit card, serving over 16 million users worldwide.
Company Overview
Wise offers a multi-currency account utilized by 16 million people globally for a variety of purposes such as living, working, traveling, and transferring money. The company supports holding and converting money in over 40 currencies and provides international money transfers, including large amount transfers and a Wise debit card.
Business Accounts
Wise provides a specialized business version of their multi-currency account. This includes features tailored for businesses such as batch payments and managing team expenses. This account is designed to facilitate smooth international transactions by supporting receiving money with local bank details in multiple currencies like GBP, EUR, USD, and AUD.
Wise Platform
Wise operates a platform called Wise Platform, which provides payment infrastructure for banks, businesses, and other enterprises. This platform enables businesses to incorporate Wise's international transfer capabilities into their own services, enhancing global money movement.
Security and Compliance
Wise is registered with the Financial Crimes Enforcement Network (FinCEN) and is federally regulated in the United States. The company ensures the security of customer funds by keeping them in banks like JPMorgan Chase Bank, and employs HTTPS encryption and 2-step verification to secure transactions. Customers’ USD balances can earn up to 4.85% APY, with FDIC insurance up to $250,000 provided through their Program Bank.