How is Wise regulated?
Wise is registered with FinCEN in the US, and holds relevant licenses for many US states. In the states and territories where Wise does not hold its own license, it offers services through a partnership with Community Federal Savings Bank. Wise is also registered with regulators in countries around the world to comply with global financial services legislation.
Here’s a summary of how Wise is regulated around the world:
Australia - Wise Australia Pty Ltd. is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL)
Belgium and the European Economic Area (EEA) - Wise Europe SA, is a Payment Institution authorised by the National Bank of Belgium.
Brazil - Wise Brasil Corretora de Câmbio Ltda. is an exchange brokerage firm authorised by the Central Bank of Brazil. Wise Brasil Pagamentos Ltda. is a payment institution, issuer of electronic money, not yet subject to authorisation by Central Bank of Brazil. Wise Pagamentos is part of the prudential conglomerate led by Wise Corretora.
Canada - Wise Payments Canada Inc. is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Authorité des Marchés Financiers (AMF) as a Money Service Business (MSB)
Hong Kong - Wise Payments Limited is regulated by the Customs and Excise Department (CCE) of Hong Kong and is licensed as a Money Service Operator (MSO)
India - Wise Payments Limited is approved by the Reserve Bank of India (RBI) for facilitating outward remittances from India
Indonesia - PT Wise Payments Indonesia is licensed by Bank Indonesia as a Fund Transfer Operator
Japan - Wise Payments Japan K.K. is regulated by the Kanto Local Financial Bureau and licensed as a Funds Transfer Service Provider.
Malaysia - Wise Payments Malaysia Sdn. Bhd. is regulated under the laws of Malaysia by the Bank Negara Malaysia as a licensed remittance, money-changing and e-money issuance business.
New Zealand - Wise Payments Ltd. is supervised by the Department of Internal Affairs (DIA) for anti-money laundering purposes.
The Philippines - Wise Pilipinas Inc. is licensed by the Bangko Sentral Ng Pilipinas (BSP) as a Remittance and Transfer Company (RTC)
Singapore - Wise Asia-Pacific Pte. Ltd. is licensed by the Monetary Authority of Singapore (MAS)
United Kingdom - Wise Payments Limited is authorised as an Electronic Money Institution (EMI) by the UK Financial Conduct Authority (FCA)
United States - Wise US Inc. is registered with the Financial Crimes Enforcement Network (FinCEN) and renews its registration annually. It is licensed as a money transmitter in many US states, and supervised by regulatory authorities in each of those states. In other US states and/or territories, money transmission services are offered by our partner financial institution Community Federal Savings Bank, which is supervised by the Office of the Comptroller of Currency.
United Arab Emirates (UAE) - Wise Nuqud Ltd. is regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA)