“Money you hold with Wise, in any currency, is not automatically insured by any deposit protection scheme, including the Federal Deposit Insurance Corporation (FDIC).”
This analysis describes what Wise's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The absence of automatic deposit insurance means customers' funds held with Wise do not carry the same default protections as funds held in a traditional insured bank account.
Interpretive note: The word 'automatically' leaves open whether non-automatic or partial coverage exists; this qualifier is preserved in all fields as required.
The updated terms extend the deadline for reporting transaction errors from 60 days to 120 days for all transactions except Send Money transfers. The 120-day period begins either from the first day you could see the error in your online account history or the day Wise sent the first written statement showing the error, whichever comes first. This change gives account holders twice as long to identify and report discrepancies before losing the right to dispute them.
View change record →Customers' funds held with Wise are not automatically insured by the FDIC or any other deposit protection scheme, regardless of currency.
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"Money you hold with Wise, in any currency, is not automatically insured by any deposit protection scheme, including the Federal Deposit Insurance Corporation (FDIC).Excerpt from Wise's Terms of Use (Superseded URL)
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The absence of automatic deposit insurance means customers' funds held with Wise do not carry the same default protections as funds held in a traditional insured bank account.
Customers' funds held with Wise are not automatically insured by the FDIC or any other deposit protection scheme, regardless of currency.
ConductAtlas has identified this type of provision across 287 platforms. See the full comparison.
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