Provision record
Wise · Wise Terms of Use · View original document ↗

FDIC Insurance Conditionality and Wise Retains Investment Earnings

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Document Record

What it is

Funds held in a Wise Account are not automatically FDIC-insured; FDIC coverage is only available for USD balances in accounts that have opted into the interest feature, which sweeps funds into participating bank accounts. Wise retains all interest and earnings generated by permissible investments made with customer funds that are not in the interest feature.

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

ConductAtlas Analysis

Why it matters (compliance & governance perspective)

This provision establishes that the default state of a Wise Account does not carry FDIC insurance protection, and that Wise retains all investment earnings on pooled customer funds held outside the interest feature. The conditional nature of FDIC coverage requires consumers to take an affirmative opt-in action to obtain deposit insurance protection on USD balances.

Recent Activity

This document changed recently

Medium May 15, 2026

The updated terms now authorize Wise to accept incoming funds via FedNow, a new instant payment service. The agreement states that FedNow transactions are processed in real time and generally cannot be canceled or reversed once completed, distinguishing them from traditional transfers that may have reversal windows. The terms also establish that Wise may decline any incoming FedNow transaction at its discretion where required for security, compliance, or operational reasons, without specifying advance notice or appeal procedures. Users receiving FedNow payments should understand that such transfers become final immediately upon completion.

View change record →

Clause Stability Stable

0
Changes
4
Months Monitored
Jul 9, 2026
First Seen
Jul 9, 2026
Last Seen

Change history

added Jul 28, 2026

New provision explicitly disclaims FDIC insurance protection and asserts Wise's ownership of investment earnings, creating material distinction from bank accounts.

View full change record →

Consumer impact (what this means for users)

Under this clause, consumers who do not opt into the interest feature hold funds that are not FDIC-insured, and any earnings generated by Wise's permissible investments of those funds accrue to Wise rather than the consumer. Consumers who opt into the interest feature have their USD balances swept into FDIC-insured accounts at participating banks.

Cross-platform context

See how other platforms handle FDIC Insurance Conditionality and Wise Retains Investment Earnings and similar clauses.

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▸ View Original Clause Language DOCUMENT RECORD
"
Wise is Not a Bank, and your Wise Account is Not a Bank Account. Money you hold with Wise, in any currency, is not automatically insured by any deposit protection scheme, including the Federal Deposit Insurance Corporation (FDIC). Wise holds funds held by its customers in permissible investments in accordance with applicable laws. Wise owns the interest or other earnings on these investments, if any. However, although Wise is not a Bank, eligible customers that opt-in to the "interest feature" will have their United States Dollar (USD) funds held in their Wise account "swept" into a FDIC insured, interest bearing account at one or more of our participating banks.

Excerpt from Wise's Terms of Use

ConductAtlas Analysis

Institutional analysis (regulatory & governance intelligence)

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Applicable agencies

  • Consumer Financial Protection Bureau (cfpb)
    Regulates consumer financial products and services. Can investigate companies for unfair, deceptive, or abusive financial practices including improper fees, billing errors, and data misuse.
    Who can file: Anyone who has used a consumer financial product or service in the US
    What you need: Account number or details, dates of transactions or events, description of the issue, and any supporting documents
    What to expect: The company must respond within 15 days. The CFPB forwards your complaint and may use it in enforcement actions. Individual compensation is possible in some cases.
    File a complaint →

Provision details

Document information
Document
Wise Terms of Use
Entity
Wise
Document last updated
May 5, 2026
Tracking information
First tracked
May 20, 2026
Last verified
July 9, 2026
Record ID
CA-P-014125
Document ID
CA-D-00526
Evidence Provenance
Source URL
Wayback Machine
Content hash (SHA-256)
561266d11f984a2eb3eab7608e74f5c481a231a012a4ed1cb0115da73c83c5e7
Analysis generated
May 20, 2026 22:59 UTC
Methodology
Evidence
✓ Snapshot stored   ✓ Hash verified
Citation Record
Entity: Wise
Document: Wise Terms of Use
Record ID: CA-P-014125
Captured: 2026-05-20 22:59:22 UTC
SHA-256: 561266d11f984a2e…
URL: https://conductatlas.com/platform/wise/wise-terms-of-use/provision/CA-P-014125/fdic-insurance-conditionality-and-wise-retains-investment-earnings/
Accessed: Sept. 8, 2026
Permanent archival reference. Stable identifier suitable for legal filings, compliance documentation, and research citation.
Classification
Severity
High
Categories

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Frequently Asked Questions

What does Wise's FDIC Insurance Conditionality and Wise Retains Investment Earnings clause do?

This provision establishes that the default state of a Wise Account does not carry FDIC insurance protection, and that Wise retains all investment earnings on pooled customer funds held outside the interest feature. The conditional nature of FDIC coverage requires consumers to take an affirmative opt-in action to obtain deposit insurance protection on USD balances.

How does this clause affect you?

Under this clause, consumers who do not opt into the interest feature hold funds that are not FDIC-insured, and any earnings generated by Wise's permissible investments of those funds accrue to Wise rather than the consumer. Consumers who opt into the interest feature have their USD balances swept into FDIC-insured accounts at participating banks.

Is ConductAtlas affiliated with Wise?

No. ConductAtlas is an independent monitoring service. We are not affiliated with, endorsed by, or sponsored by Wise.