Wise, Formerly TransferWise: Online Money Transfers | International Banking Features (2024)

FAQs

What bank does Wise use in the USA? ›

*Disclaimer: The current Program Bank is JPMorgan Chase Bank, N.A., see Appendix 1 of the Program Agreement for the most updated list of Program Bank(s).

If you hold a Wise balance in any of the 50+ supported currencies, you can withdraw some or all of your money to a bank account. You'll be able to either send funds without switching currencies, or convert a balance in your Wise account to the currency you need as part of the withdrawal.

No, you cannot use Wise as a bank account, because Wise is not a bank, it's a Money Services Business. However, with the Wise Account you'll get some features which are similar to those available from bank accounts, such as the option to hold a balance, send and receive payments, and spend with a linked card.

For transfers to bank accounts, you'll need their full name, bank name and 6-18 digit long bank account number. How much can I send? If you live outside of the Philippines, you can send up to 9 million PHP per transfer to bank accounts.

United States

Wise US Inc. is registered with the Financial Crimes Enforcement Network (FinCEN) and renews its registration annually.

Is Linked Bank Account secure? Yes. There are stringent security measures to safeguard your personal data that passes through eGIRO scheme. Your data is encrypted.

For most people, there are no limits on how much you can receive and hold right now.

Typically the Wise scam: close your account for no reason and keep your money. You need to do a formal complaint to wise through the app. If they resolve it and refund your money then great, but if not y...

If you earned 10 or more USD in the 2023 calendar year across your interest-earning balances we'll provide you with a 1099-INT to comply with standard IRS tax procedures. To download your 1099: Select your profile icon (top left in the app or top right on the website) Select Statements and Reports.

If you live in the US, we might need your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN) when making a transfer from USD, ordering a Wise card or opening USD account details.

Does Wise give you a bank account number? ›

The account details we offer aren't a bank account, but the account number and routing number we give you work the same way when receiving money. Just share your account details with your friends, company or customers, and they can send you USD.

Wise is a Money Service Business registered with FinCen. It is authorized to operate in most states. In other states, the program is sponsored by Community Federal Savings Bank, to which we're a service provider.

You don't get a US bank account with Wise, but you can get US bank details.

Wise accounts aren't FDIC insured, due to its status as a non-bank, their safeguarding process protects customers and their funds to make sure they're always available whenever needed. Read more about why Wise funds aren't FDIC insured.