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A comment on TransferWise changes name to Wise. Parent comment

Re:TransferWise changes name to Wise by tdido on Monday February 22, 2021 @03:06AM (#26221998)
They seem to be under the FCA: https://transferwise.com/help/articles/2932699/what-is-the-f...

Do you mean they don't subscribe to the 80k protection or something like that?

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Re:TransferWise changes name to Wise by OJFord on Monday February 22, 2021 @03:20AM (#26222079)
There are more services regulated by the FCA than which fall under the protection of the FSCS.

AIUI it would have to sign up to stricter regulation, and be treated as an actual bank account, or maybe as an investment (forex) account.

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Re:TransferWise changes name to Wise by dazc on Monday February 22, 2021 @03:17AM (#26222062)
Sorry, yes, the £80k protection is under the Financial Services Compensation Scheme (FSCS) https://www.fscs.org.uk/

Transferwise are not in it and say they protect your money in other ways... https://transferwise.com/help/articles/2949821/is-it-safe-to...

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