TransferWise is an authorised Electronic Money Institution regulated by the Financial Conduct Authority (FCA) in the UK.
We're required by law to protect your money by storing it in a low-risk financial institution (in Europe this is in our UK Barclays bank accounts).
That means that, in the unlikely event that TransferWise became insolvent, your money would be unaffected and should be refunded to you in full.
If our official Banking Institution (in Europe this would mean Barclays), became insolvent, your return of funds would not be guaranteed as the account is not guaranteed by the Financial Services Compensation Scheme (FSCS).
We take the safety and security of your money very seriously. We fulfil rigorous regulatory standards in UK, Europe, US, and every country we operate in. As such, millions of customers trust TransferWise with their money, we currently move over £1 billion around the world every single month.