Is Wise Money Transfer Safe? – Can I Really Trust them to Send Money Overseas? 2026
Wise (formerly TransferWise) is an international money transfer provider founded in 2011. It is used by millions of customers to send money overseas and manage international payments across regions including the UK, US, Australia and Europe.
Over time, Wise has grown into a well-established player in cross-border money transfers, operating globally with multiple offices and a large international team supporting its services.
Quick summary: Is Wise safe to use for international money transfers?
- Wise is an established international money transfer provider with 16+ million customers worldwide since it was founded.
- In Australia, Wise operates under financial services regulation and maintains defined safeguards around account and transaction handling.
- Security measures include account verification, two-step authentication, encrypted data protection and transaction monitoring.
- Customer funds are held separately from Wise’s own operational money.
- Wise supports international transfers, multi-currency accounts and debit card spending, with fees shown upfront using the mid-market rate.
Writer’s tip: how safe is Wise for international money transfers?
When thinking about safety, it helps to look beyond regulation alone and consider how you use the service. The risks involved in occasional transfers to trusted recipients or moving money between your own accounts are very different from those that come with large, time-sensitive payments.
In day-to-day use, practical safeguards tend to matter most. Clear account verification, two-step authentication and visibility over account activity give you control when something looks off, which often makes a bigger difference than headline claims about speed or low fees.
Is Wise safe to use in Australia?
Wise is generally considered safe to use for international money transfers and account services in Australia. The platform uses a combination of account safeguards, transaction monitoring and security controls designed to help protect customer funds and personal information.
Key facts about Wise
- Year founded: 2011
- Type of provider: International money transfer provider
- Regulation: Operates under financial services regulation in Australia and other countries where it offers services
- Number of customers: 16+ million worldwide since its founding
- Transfer volumes: Processes billions in international transfers each month
Is Wise regulated?
Yes. Wise operates in Australia under financial services regulation, with different entities authorised for specific activities.
Wise Australia Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL 513764). It is also authorised by the Australian Prudential Regulation Authority (APRA) as an Authorised Deposit-taking Institution (ADI), limited to providing purchased payment facilities (PPF), and is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a reporting entity.
A separate entity, Wise Australia Investments Pty Ltd, is also regulated by ASIC, holds its own Australian Financial Services Licence (AFSL 545411), and is registered with AUSTRAC as a reporting entity.
Customers can have peace of mind that Wise meets Australian requirements around financial conduct and reporting obligations.
Where else is Wise regulated?
Wise is regulated in multiple countries and regions where it operates. You can see the up-to-date list of Wise entities and regulators here.
Is Wise as safe as banks?
Wise does not offer the same products or protections as banks, but applies security controls designed for international money transfers and account services. It is not a bank and does not provide products such as loans or credit.
For its services, Wise uses measures including account verification, two-step authentication, encrypted data protection and transaction monitoring to help reduce the risk of unauthorised activity.
Is Wise money transfer safe?
Wise includes a range of security features designed to help protect international money transfers.
They take measures to protect the sensitive data you provide them like your personal details and identification. The company encrypts any information you give them and has a strict customer agreement. You can email Wise ([email protected]) to find out more. The encryption and data storage methods are designed to protect sensitive information and meet industry security standards.
With the Wise multi-currency account you can send and receive money to your friends using your mobile number. To protect your privacy this feature is automatically switched off on registration and is easy to turn on following these instructions. Unlike many social media platforms, Wise never sends or stores your full phone’s contacts on their servers and they never get in touch with your contacts.
They employ a specialised, in-house team that looks after security, and monitor transactions for suspicious activity or fraudulent logins all around the world.
How safe are my login details when I use Wise?
In terms of online security, Wise protects your personal data from fraud and theft. Wise uses 2FA, giving you extra protection. This means that when you log in, you go through two levels of verification to access your account. They will ask you to verify that it’s you by text message, fingerprint or face recognition.
They also encrypt your sensitive data and create secure connections with your website browser when you’re providing your personal details and identification. Wise adheres to a strict customer agreement. Wise never sells your data.
Learn more
How does Wise keep your money safe?
Wise uses a broad range of approaches to keep customer money safe. Here are the key features:
- Customer funds are safeguarded at top tier institutions
- Dedicated 24/7 anti-fraud technology and support team
- Two-step authentication for your account and card
- Transaction alerts every time a payment is made with your Wise card
- Independently audited with regular testing to check and fix any vulnerabilities
- High levels of data protection
Is Wise safe to transfer money?
Wise includes a range of security features designed to support secure international payments. These include account verification checks, two-step authentication for logins and transfers, encrypted data protection and ongoing transaction monitoring to detect suspicious activity. Together, these controls are intended to reduce the risk of unauthorised access and help ensure payments are processed securely.
Click here to read a full Wise review
Is Wise safe to keep money with?
Wise accounts are designed to hold customer funds separately from Wise’s own operational money. Whenever you deposit money into your Wise account, it is safeguarded in a leading financial institution, or invested in high-quality liquid assets which can be easily disposed of to release funds.
Is Wise safe for large amounts?
Wise includes security features that support high-value international payments for individuals and businesses. Transfer limits may apply and are set according to the destination country and currency.
Before you arrange a high value payment with Wise you may want to take a few sensible steps to make sure everything goes through smoothly:
- Verify your account. If you have a new account you’ll need to complete a verification step to get started. You may also be asked to verify your account at a later stage, based on the transfer value and type.
- Confirm the recipient’s bank details. Make sure you have all of the required details to process your payment safely. You’ll need your recipient’s full name and bank account number, along with other region specific details like an IBAN, routing number or sort code.
- Double check your transfer limits. Check your own bank’s transfer limit and whether there are any bank fees to pay for funding your Wise transfer through your bank account or card.
Is the Wise business account safe?
The Wise business account includes the same core security features used across Wise’s services. These include account verification, two-step authentication for logins and payments, encrypted data protection, and transaction monitoring designed to help detect unusual or unauthorised activity. Business customer funds are kept separate from Wise’s own operational funds and handled in line with the account’s intended use.
A Wise business account may suit companies that need to manage frequent international payments, such as paying invoices to vendors abroad, and currency conversion with clear pricing. Fees for transfers and currency exchange are shown upfront using the mid-market rate, which can help businesses understand costs before sending money.
Is the Wise card safe to use?
The Wise card is designed to be used safely for everyday spending, whether you’re paying online or abroad. Card activity is monitored in real time, and customers have access to in-app controls that help manage how and when the card can be used.
To help protect card use, Wise offers features such as two-step authentication, instant card freezing and unfreezing in the app, and notifications for every transaction, so unusual activity can be spotted quickly.
You can also generate digital cards for online payments or replace a card if it’s lost or compromised. Personal and payment details are protected using encryption and account-level security standards.
Is the Wise app safe?
The Wise app includes several security features designed to help protect your account when managing money on your phone. Access to the app is protected with two-step verification, and sensitive actions may require additional confirmation to help verify it’s really you.
Users can enable login and transaction notifications, making it easier to spot unfamiliar activity quickly. The app also supports biometric login on compatible devices, such as fingerprint or face recognition, and uses encrypted connections when handling personal or payment information. If a device is lost or compromised, access can be managed from another device or through customer support to help reduce risk.
Is Wise legit?
Wise is a legitimate international money transfer provider serving over 16 million customers worldwide.
As an international money transfer provider, it focuses on international payments and currency conversion, with fees shown upfront using the mid-market rate.
Customer Reviews with Trustpilot
Trustpilot is a well known review platform. A TrustScore is an overall measurement of reviewer satisfaction, based on all the service and comments a business receives.
Wise has received more than 250,000 reviews. It scores 4.3 / 5 with TrustPilot, which is a very high score.
88% of people rated Wise as 5 or 4 stars, often commenting on the quick, secure and easy to use service.
“Very quick and inexpensive international transfers (most occur within a few seconds). Transfers arrive to the destination account much faster than Western Union or Xoom, both of which take at least a few hours to as much as a week. I do a lot of transfers since my kids go to school abroad, and since finding TransferWise I have never used another company for international wiring.”
Meanwhile only 10% of customers rated the company 1-2 stars. On most occasions Wise responds to the comment on the page to try to assist the customer further.
Finally watch our video of Wise customers giving their feedback on service, speed and exchange rates.
What customers say about Wise
Customer feedback offers additional context alongside Wise’s security features and safeguards.
“Highly trusted, fast and secure – even after years of service. Always available, always simple, easy, and fast, with confidence when sending money.”- Steven N*
“Such an easy app to use, and it gives me complete confidence when managing my money.”- Diane L*
Wise has a large and active presence on Trustpilot, with hundreds of thousands of reviews across different markets. Experiences vary, but feedback often highlights ease of use and confidence when sending money abroad.
*Customer names have been changed for privacy. The customer was not paid to share a review. Review taken from Trustpilot in January 2026.
Can you get scammed on Wise?
Unfortunately fraudsters and scammers are active on many different platforms including Wise and banks, too. However, staying safe in most cases requires little more than a few sensible steps and common sense. Here are some tips:
- Never share your account details or password with anyone
- Don’t log into any site other than the Wise official homepage – check the secure site symbol before you begin
- Don’t transfer money to anyone you don’t know and trust
- Check your recipient’s account details before you make any transfer
- Be aware of common frauds and phishing scams – these evolve and change over time, so staying aware is crucial
Can I avoid falling victim to fraud?
Should you be unlucky enough to fall victim to fraud while using your Wise account, you can report the issue to both Wise and the police.
To report fraud to Wise, log into your account and make your report there. If it’s possible to stop the transaction, the Wise support team will help you.
If your payment cannot be stopped or has already been received by the fraudster, you’ll need to report the fraud to the police. Wise can then pass on the transaction information to the police to support your case.
Is your personal data safe on Wise?
Wise protects customer personal data in line with local and international data protection rules, and has a duty to keep any sensitive data safe. Information is collected and used to process transfers, comply with legal requirements and improve Wise services.
What personal data does Wise collect?
Wise collects personal data from customers which can include information you give them, and information collected from you, such as your IP address and the way you use Wise services. Wise may also collect information from third parties, for example, to help in the account verification process.
You can ask Wise not to contact you for marketing purposes by changing your marketing settings within your account, or sending the customer service team an email.
Wise may be required by law to retain some information about you. The length of time that data is retained will depend on the specific information and the applicable laws. However, Wise will not hold customer data for any longer than is necessary for practical or legal purposes.
How to get started on Wise?
To use Wise you’ll need to create an account, and depending on the type of payment you want to make you might need to provide paperwork to get started. This may include:
- Proof of identity, like a passport
- Proof of address, like a utility bill in your name
You may be asked to take a selfie holding your proof of ID for verification. In some cases, you’ll be asked for further identification and paperwork when you make a transfer. This tends to happen when sending high value payments, and is often required by law.
Once your account is up and running make payments online and in the Wise app:
- Log into your account
- Type in how much you want to transfer, or how much you need the recipient to get
- Enter the recipient’s details – bank account number or email
- Check over the details
- Fund your payment using a card or bank transfer
- Confirm and your money will be on the move
Ready to go?
Conclusion
Wise is an established international money transfer provider offering account and payment services for customers who send money overseas.
The platform includes a range of security features to keep customer money safe, such as account verification, two-step authentication, encrypted data protection and transaction monitoring to help reduce the risk of unauthorised activity. As with any financial service, using these tools effectively and following basic security practices plays an important role in keeping your account protected.
FAQ – Wise Safety
Is Wise safe?
Wise includes a range of security features designed to support account services and international transfers. Customer funds are safeguarded, and accounts are protected by thorough verification processes and anti-fraud technology.
How is Wise regulated?
In Australia, Wise is regulated by ASIC. Wise is also authorised and regulated by other regulatory bodies around the world, including FinCEN in the US and the FCA in the UK.
Is it safe to use Wise?
Wise includes a range of security features designed to help protect customer accounts and international payments. These include account verification, two-step authentication, encrypted data protection and transaction monitoring to help detect unusual activity. Customer funds are kept separate from Wise’s own operational funds, and users have access to in-app controls and alerts to monitor account activity.
As with any financial service, how safe Wise is on a daily basis also depends on how the account is used, including keeping login details private and checking recipient information before sending payments.
Useful resources
The information in this guide is based on publicly available details from Wise, including:
- Wise international transfers: Guidance on how Wise processes international payments, supported countries, transfer speeds and exchange rates
- Wise debit card: Details on Wise card features, such as digital cards and spending abroad
- Wise Help Centre: Provides information on account access, verification and protecting personal information
- Wise regulation by country: Up-to-date information on Wise entities and regulators across different countries and regions
