You can keep using TransferWise without interruption, including your borderless account, regardless of the Brexit outcome. Any money already in your balances will be safe and accessible.
We’ve already completed every step needed to keep TransferWise running when the UK leaves the EU ー no matter the outcome of negotiations. We did this by being granted a licence to operate in Europe, licensed in Belgium.
So if the UK leaves the EU, we'll serve customers in the European Economic Area (EEA) from our new office in Brussels. That means EEA customers will enter into a Customer Agreement with the European arm of our company: TransferWise Europe SA/NV.
TransferWise Europe will be regulated by the National Bank of Belgium. That means Belgian laws will apply to your TransferWise account, your transactions, and your rights under the Customer Agreement. If you send money or have a borderless account with TransferWise, your transfers and activity will be provided by TransferWise Europe.
We’ll send out an email to all our customers who’ll be served by TransferWise Europe moving forward. We’ll let you know about these changes and what they mean.